Pick n Pay Stores Ltd., once a topic of skepticism at South African barbecues, is leveraging its six-year sponsorship of the Springboks rugby team to revive its brand and sales. CEO Sean Summers noted that the retailer’s survival was previously a weekend debate among families. The partnership, which includes school and women’s rugby and a collectible card promotion, has boosted foot traffic and merchandise sales.
Same-store sales rose 2.4% in the first half, though the core business remains unprofitable. Summers called the sponsorship a 'leap of faith' that proved prudent, with branding now visible globally during Springbok matches.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing