SOUTH AFRICA. Assortim Duty Free Shop, a Pretoria-based retailer specialising in sales to the diplomatic community, is up for sale.
The independent business was founded in 1999. It offers a wide range of products ranging from jewellery, fragrances, liquor and cigarettes to electronic equipment.
Last September Assortim Duty Free was also granted the rights to supply and export to (through the duty free shop) ship chandlers, international airlines, fellow duty free retailers and other countries.
“Thanks to this new development, anybody taking over the business should be able to substantially increase the turnover and profits,” said a spokesman.
All audited financials are available. The shop and storage area totals 400sq m. Business hours are from 8:30 – 17:00 from Monday to Friday and Saturday from 8:30 to 13:00. There are currently over 5,000 foreign diplomats and staff in the Pretoria and Johannesburg areas alone. Assortim has a claimed 65% of the market.
Turnover ranges between ZAR 8-11 million (US$1.2-1.7 million), with net profits in the 15-19% range.
For referral details, contact Claudia Apfelthaler by e-mail at crocodilefarm@is-is.biz
