Old Mutual Property and retail entrepreneurs Paul Simon, of Young Designers Emporium (YDE) fame, and Arie Fabian of Fabiani have collaborated to launch stores for local designers.
Called EGG, the outlet “will provide a new vision of the future as retail pivots towards a more resilient and sustainable future,” said Sakina Nosarka, the head of retail at Old Mutual Property.
Aimed at representing small, medium and micro enterprises, the outlet in Cavendish Square, Cape Town is home to 240 emerging local brands.
In recognition of the nurturing, incubating and hatching of novel concepts, EGG combines retail and e-commerce for a new generation of consumer that is seeking an all-inclusive entertainment, locally sourced, learning and lifestyle fulfilment experience from a trip to the mall.
Simon said: “We are continuously seeking innovative ways to differentiate our tenant mix through independent retailers to add an element of surprise and product discovery to shoppers. This ensures constant reinvention that enhances sustainable returns.”
Speaking at a media roundtable in Cape Town to mark the occasion, co-founders Simon and Arie Fabian said that when it comes to ideas and creativity, South Africa is one of the leading centres of retail product and service innovation and design globally.
Where the local retail sector loses ground, however, is in its ability to build these ideas into sustainable retail businesses.
They said that the current reality shows that despite the wealth of creative retail concepts in South Africa, “retail start-ups generally prioritise the sexy side of their fledgling brands over the business basics,” concluded Simon.
EGG opened on December 3.