Opportunity We needed to find a region with a need for more retail space, and not target saturated markets.
The risk/reward profile We didn’t feel the risks of entering markets totally foreign to us (such as China, Russia, India or South America) could be predictably and effectively managed. The contacts we established via our first steps in the UK have extended reach into the whole of Europe, including Eastern Europe. This is a more natural extension of existing and proven relationships and capabilities, and coupled with that, opportunity still exists in some of the Eastern European countries. The region is also still emerging from a period of communist rule, albeit 20-25 years further on in time. Opportunity exists, and the enthusiasm to embrace free market principles makes for an environment best suited to our intentions.
Practical considerations The travel to international destinations is time-consuming and expensive. South Africa is quite removed from other world markets, once one decides to venture further than sub-Saharan Africa. Remaining within the same time zone (give or take two hours) enables us to optimize our time and efficiency. We’re most successful when we partner with local role players – this has been a constant characteristic of our success. To work closely with remote partners when the work day only overlaps by an hour or two is frustrating and inefficient.
