Lewis is South Africa’s largest furniture brand and contributes 70% of the group’s merchandise sales. Stores sell a range of household furniture, electrical appliances and home electronics to customers in the LSM 4 to 7 target market.
Conventional stores average 450m2 and the smaller format stores 250m2. Lewis now has 201 small format stores.
Best Home and Electric is a retailer of electrical appliances, sound and vision equipment and selected furniture lines. The chain offers branded merchandise to its targeted customers in the LSM 4 to 7 group. Stores are much smaller than Lewis and average 150m2
Beares focuses on offering exclusive and innovative ranging of aspirational furniture. While aimed at a higher earning target market than Lewis, Beares applies the Lewis business model and utilises the group’s well-established credit infrastructure. Stores average 430m2 and are located mainly in high traffic areas.
The retail chains are supported by Monarch Insurance, the group’s short-term insurer, which offers a range of optional short-term insurance products to customers purchasing merchandise on credit. Insurance cover is offered for the settlement of customers’ outstanding debt in the event of death, permanent disability, retrenchment and the replacement of goods as a result of accidental loss, such as fire, theft or natural disaster.
Monarch is registered with the Financial Services Board and operates under a short-term insurance licence.