ANALYSIS
The sale of David Jones means Woolworths has lost its foothold in Australia and its desire to be the biggest retailer in the Southern Hemisphere.
The question of what is next for Woolworths remains — the same question asked when Shoprite (the biggest retailer on the African continent) left Nigeria in 2020.
Syd Vianello, an independent retail analyst, said Woolworths now has to concentrate on its business.
“How much time has [Roy] Bagattini been spending sorting out the David Jones mess with no return? He’s got a business, a good business that he can expand domestically,” he said.
Bagattini, a former Levi Strauss executive at the helm of Woolworths for three years now, could not make the Australia-based clothing company work. Before the announcement of the sale Bagattini had told Bloomberg: “It’s increasingly difficult to create a so-called regional player with a level of impact and scale that can really materially shift your performance.”
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Anathi Madubela
Anathi Madubela is a business journalist with a keen interest in the retail sector.
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