Cape Town - Hilton Weiner, Jenni Button, Aca Joe … classic clothing ranges that may soon be collectible now that the Platinum Group, owner of the South African brands, has been placed under liquidation, Business Day reports.
Consumer spending in South Africa remains under enormous pressure, as evidenced by Edcon’s widely reported troubles.
Add to that the influx of international retailers, such a Zara, and the term fashion victim takes on a new meaning.
Before Friday’s news that the parent company had gone into liquidation, the Platinum Group is reported to have been selling down stock in its 59 stores across five brands, and some have already been closed down.
ANA