Woolworths Holdings
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| Corporation | |
| Industry | Retailing |
| Founded | 1931 |
| Founder | Max Sonnenberg |
| Headquarters | 93 Longmarket Street, Cape Town, South Africa |
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Area served
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South Africa Australia |
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Key people
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Ian Moir (CEO) Simon Susman (Non-executive chairman) |
| Products | Clothing, footwear, accessories, groceries, beauty products, homeware and financial services. |
| Revenue |
 R58.06 Billion (2015)
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R5.59 Billion (2015)
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|
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R3.12 Billion (2015)
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Number of employees
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18,563 (South Africa only) |
| Divisions | Woolworths (Proprietary) Limited Country Road (Australia) David Jones (Australia) Woolworths Financial Services |
| Website |
www woolworths |
Woolworths Holdings Limited (JSE: WHL) is a South African chain of retail stores and one of the largest in the country, modelled on Marks & Spencer of the United Kingdom. This relationship with Britain's Marks and Spencer was formed after the Second World War, which led to the retailer buying all of the unissued share capital of Woolworths in 1947. These shares were later sold, but close ties still remain. The first Woolworths store opened in The Old Royal Hotel in Cape Town in October 1931. It was founded by Max Sonnenberg assisted by his son Richard and Fred Kossuth.
The Woolworths brand incorporates a series of food stores, some of which are attached to department stores, while others stand alone or are attached to Engen petrol stations in prosperous urban areas. Some branches include an in-store restaurant, branded as "W Cafe". Woolworths operates 217 stores in South Africa and 65 stores throughout the rest of Africa. Woolworths sells clothing and accessory items under a number of premium brands, namely Studio W, RE: Country Road, Witchery, Mimco and Trenery.
The chain was named after the United States chain F. W. Woolworth Company but, because of the contemporary trademark laws, the name was legally used without permission. No financial connection ever existed between the companies. Similarly, Woolworths Holdings Limited is not to be confused with Woolworths Limited, an Australian retail company.
Founded by Max Sonnenberg and his son Richard, Woolworths South Africa first opened its doors on 30 October 1931 in Plein Street Cape Town, in what had been the stately dining room of the famous Royal Hotel. While Sonnenberg had no affiliation with Woolworths in Europe, North America or Australia, his plan was to develop a chain of stores based on Woolworths Australasia Ltd.
A pivotal point in Woolworths' history came after World War II, when the company established its relationship with Marks & Spencer (M&S) of London. Sonnenberg and Sir Simon Marks, son of the M&S founder, became good friends which led to M&S buying shares in Woolworths in 1947. Later, David Susman, son of Max Sonnenberg's business partner Elie Susman, married Ann Laski, Lord Marks' niece. David Susman became a non-executive director of M&S, a position he held for nearly 30 years. Although M&S ultimately sold its shares of Woolworths, the two companies maintained close personal ties.
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Wikipedia