Our Business Philosophy drives our business model and ensures Truworths remains aligned with its strategic direction. This has been core to the success of the business since being introduced almost two decades ago and is therefore integral to creating value for our stakeholders in the short, medium and long-term.
Our Business Philosophy comprises three synergistic elements – our purpose, our values and our vision – which work together as one system.
defines our customer and the merchandise, credit, retail and service offering
shape the business culture and employee behaviours required to achieve our Purpose
describes our stakeholder expectations and how the business is assessed in terms of creating value for these stakeholders
Our Business Philosophy was developed for Truworths as a South African retailer. A key element of the Group's acquisition strategy is identifying companies that are culturally aligned and compatible with our Purpose, Values and Vision. This was the case with the acquisitions in South Africa over the past decade of Uzzi, Naartjie and Earthchild, which have been successfully integrated into Truworths.
Office, the fashion footwear retailer in the UK, was acquired midway through the reporting period and is currently being integrated into the Group. Formal alignment with our Business Philosophy will form part of this process after considering the markets in which Office operates.