South Africa’s Truworths has pulled out of its Nigerian business due to high rentals and import restrictions, its chief executive said on Thursday.

“We were unable to operate the stores properly any longer because we were unable to send merchandise to the stores because there’s regulation preventing that,” Michael Mark told Reuters in telephone interview.

Truworths ran two stores in Lagos at the Ikeji Mall and the Lekki Palms Shopping Mall, Lagos Nigeria. While i understand that these newly imposed laws coupled with the exchange rate must have affected their business, i doubt they were able to break even , when the economy was quite stable, especially in the Nigerian fashion industry. In my honest opinion, they did not carry out thorough feasibility studies before launching here,  especially with regards to studying the pop culture trend driven style we have here. Their things were too preppy ; mostly clean cut or nautical fashion staples. Nigerians don’t do preppy, LOUD is our signature , see me coming and know that i have arrived in my brand named attire from ‘head to toe’ is the mainstay,  sad but na so e be for here!

All the times i tried to shop there, i just wasn’t impressed with their merchandise. Oh well, all the best Truworths! 

Press release culled from Reuters


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