In this Business Talk with Michael Avery interview, Retailability CEO Norman Drieselmann unpacks Edgars\u2019 \u2018right-sizing\u2019 strategy and the future of retail in South Africa.<\/p>\n\n\n\n
Retailability is a South African-based group that owns major local retail brands like Edgars and Keedo.<\/p>\n\n\n\n
Drieselmann is an experienced senior executive with a demonstrated history of working in blue-chip listed entities and private equity firms.<\/p>\n\n\n\n
He is skilled in retail, finance, mergers and acquisitions, and stakeholder relationships.<\/p>\n\n\n\n
After completing his Honours in Accounting and Business Management at the University of KwaZulu-Natal in 1999, he did his articles at PwC. Drieselmann is a licenced Chartered Accountant.<\/p>\n\n\n\n
In 2002, Drieselmann joined Mr Price Group as a Financial Manager and then became a Planning Manager.<\/p>\n\n\n\n
He later joined Edcon, the previous owner of Edgars and one of South Africa\u2019s largest and oldest retailers until its collapse, as the Group Planning Executive.<\/p>\n\n\n\n
Drieselmann then became the Financial Director of Makro and later took on the role of CFO at Massmart\u2019s Massdiscounters division, which operated Game and Dionwired in South Africa.<\/p>\n\n\n\n
He then took the position of CEO at Retailability in 2015 and has now been at the helm for over a decade.<\/p>\n\n\n\n
In this interview, Drieselmann begins by unpacking Edgars\u2019 right-sizing strategy that has seen the retailer reduce its footprint by over 20%.<\/p>\n\n\n\n
He explains why \u201cbigger is no longer better\u201d and what that means for landlords, investors, and shareholders when it comes to Edgars.<\/p>\n\n\n\n
This reduction in its footprint has provided Edgars with massive savings, and Drieselmann explains what message this sends to property groups about retail downsizing.<\/p>\n\n\n\n
Drieselmann then turns to Canal Walk as a case study \u2013 where Retailability reduced the size of its Edgars store by 50% \u2013 highlighting the positive impact it has had for the retailer.<\/p>\n\n\n\n
Shifting gears, Drieselmann talks about the future of beauty and skincare in the retail sector.<\/p>\n\n\n\n
Finally, Drieselmann explains what changes customers and suppliers can expect from Edgars with regards to stability, expansion, and transformation.<\/p>\n\n\n\n
Watch the full interview with Norman Drieselmann below.<\/p>\n\n\n\n