Source: https://sacsc.co.za/news/french-diy-giant-leroy-merlin-to-invest-in-more-sa-stores.
The boss of French home improvement retail conglomerate Leroy Merlin in South Africa, Cedric Sennepin, has bigger investment plans to grow the footprint of the brand in South Africa following the opening of its first store at Stoneridge Centre in Edenvale, Johannesburg, last year.
Sennepin was a keynote speaker at the SACSC’s 9th Annual Research Conference in Sandton Central in April. Leroy Merlin is one of the largest home improvement retailers in the world and the South African store represents its first foray on the continent.
Sennepin says despite the “Zuma factor” and challenges in the local economy in recent years, Leroy Merlin saw great opportunities in South Africa and made a decision to invest in the country a few years ago.
Leroy Merlin first opened a small pilot store at Stoneridge Centre in 2017, ahead of the opening of its flagship 17 000sqm store at the centre in September. Stoneridge is owned by JSE-listed Real Estate Investment Trusts (Reit) Redefine Properties and is located next to Edenvale’s regional Greenstone Mall.
Sennepin says the big-box outlet is Leroy Merlin’s first fully-fledged store in Africa and more stores are in the pipeline for South Africa. “We believe it was a good business decision, because despite the Zuma factor and other challenges in the country at the time, the reality is that South Africa is a democracy. We still see it as a good long-term investment destination with huge potential, especially with South Africa having a strong and established retail sector in place,” he explains.
