After burning its fingers in Australia with David Jones and failing to conclude the sale of that business, Woolworths has turned its eyes homewards, entering into a relationship with online platform MyRunway as a clearance partner.
newspaper and prompting Woolies head office to issue a statement that it was “firmly focused on an operational turnaround of David Jones”.
Similarly, Anchorage Capital Partners invests in businesses operating below their full potential or undergoing a significant transformation. Rob Noble, managing director of MyRunway, says Woolworths is likely to shorten its sales periods, with fewer sales in store and using MyRunway as a clearance partner.
MyRunway helps brands clear out end-of-season stock and Woolworths brands will be available on the MyRunway site from the end of May, although premium lines such as Country Road and Witchery will not be on the platform just yet. The local online e-commerce market is currently estimated at just under R200-billion per annum, up from R90-billion in 2019 and R142-billion in 2020, and has already exceeded pre-pandemic 2025 projections, according to FNB Merchant Services statistics.
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