TFG Labs acquires Flat Circle
South African retail company The Foschini Group’s (TFG) new technology division TFG Labs recently acquired the whole team behind specialist mobile app development agency Flat Circle.
This partnership will bring the Flat Circle talents into TFG Labs to help reinforce the development of the tech company’s upcoming digital platform and architecture.
This acquisition positions the retailer to strongly benefit from a mobile-first digital strategy as 70% of all e-commerce revenue in SA is generated via mobile channels.
TFG Chief Omni Officers Claude Hanan and Luke Jedeikin said that Flat circle’s “experienced, dynamic, and motivated team” aligns with the company’s goal of being a lead high-tech omnichannel retailer.
Meanwhile, Flat Circle co-Founders Werner Erasmus and Niekie Deetlefs said that they are “excited to have the opportunity to work at scale with TFG Labs” as it is a “natural fit” for their team.
TFG reported that its online retail turnover saw strong growth last June with 12% compared to 8.4% a year ago, as customers are embracing e-commerce amid the pandemic.
