Lewis Group Limited (JSE:LEW)

Johan Enslin
Market Cap (AUD): 3.13B
Sector: Consumer Services
Last Trade (AUD): 49.11 -0.68 (-1.39%)
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1. About

Lewis Group Limited (JSE:LEW) is a leading retailer of household furniture and electrical appliances through its five trading brands:


Lewis is South Africa’s largest furniture chain. Stores sell a range of household furniture, electrical appliances and home electronics to customers in the LSM 4 to 7 target market. Stores are generally located in main streets and town centres. Each store carries a basic range of merchandise and stores then select a further optional range to cater for specific markets and regional differences. Lewis has more than 480 stores, including 70 stores in Botswana, Lesotho, Namibia and eSwatini.

Conventional stores average 335m2 and the smaller format stores 250m2. The smaller format store, introduced in 2010, has enabled the chain to gain access to high traffic areas at more affordable rentals. This store format offers customers key merchandise lines, with the full range available on the electronic catalogue and display screens in-store. lewisstores.co.za

Best Home and Electric

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. The electronic catalogue is used extensively to market furniture ranges.

Stores are smaller than Lewis stores and average 138m2, being located mainly in high traffic areas with high trading densities. Best Home and Electric has 141 stores, including 12 stores in Namibia and eSwatini. bestelectric.co.za


Beares targets cutomers in the LSM 7 to 9 categories with a focus on exclusive and innovative ranging of aspirational furniture. While aimed at a higher target market than Lewis and Best Home and Electric, Beares applies the group’s business model and utilises the well-established credit infrastructure. Stores average 378m2 and are located mainly in high traffic areas. Beares has 127 stores, including 38 stores in Botswana, Lesotho, Namibia and eSwatini. beares.co.za

United Furniture Outlets

UFO sells exclusive luxury household furniture to higher income customers. UFO stores are located in malls and shopping centres with the group’s flagship Marlboro store regarded as a destination shopping location. UFO stores are on average 720m2 with product display on the shop floor for customers to view and inspect. UFO does not offer any credit facilities, all purchases are paid in cash, or with debit or credit card. UFO has 41 stores in South Africa. unitedfurnitureoutlets.co.za

Monarch Insurance

The retail chains are supported by Monarch insturance - the group's short-term insurer which offers optional insurance products that comply with the National Credit Act, to customers purchasing merchandise on credit. The standard credit life policy on offer covers the outstanding balance for death or permanent disability and up to 12 months instalments due for temporary disability or loss of employment. The enhanced benefit covers the outstanding balance of the credit agreement for death, permanent disability, temporary disability, or loss of employment.

Founded in Cape Town in 1934, the Lewis Group has been listed on the JSE Limited since 2004.

2. Business model

3. Strategy

4. Markets

5. Competition

6. History

7. Team

8. Financials

9. Risk