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Baby City gets new parents in R430mn deal
It’s the end of an era for the Aronaff family business Baby City, but the birth of a new one for pharma retailer Dis-Chem. After 26 years of operating the one-stop baby shop, the Aronaff family have agreed to sell all 33 Baby City stores to Dis-Chem for R430m. Michel Aronoff, Managing Director of Baby City joins CNBC Africa for more.
Fri, 15 May 2020 15:22:08 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- The Aronaff family's rich history in the baby business dates back to their origins in the Congo and the eventual founding of Baby City in 1992.
- The decision to sell Baby City to Dis-Chem was based on shared values and entrepreneurial spirit, representing a new chapter in the company's legacy.
- Negotiations with landlords to secure favorable rent terms for the stores are ongoing, highlighting the importance of fair dealings in business relationships.
Baby City, a renowned one-stop baby shop, is set to undergo a significant change as the Aronaff family agrees to sell all 33 Baby City stores to pharma retailer Dis-Chem for a staggering R430 million. In a recent interview with Michel Aronoff, Managing Director of Baby City, he provided insights into the family's rich history in the baby business dating back to 1992. Aronoff shared that the family's journey in the baby industry began when they moved to South Africa from the Congo due to nationalization. Initially assisting with a relative's business called Fairy Tales, the family eventually transitioned into running their own boutique which later evolved into the successful Baby City chain of stores. The decision to sell Baby City to Dis-Chem was not solely based on financial considerations but also on the alignment of values and entrepreneurial spirit between the two companies. Despite challenges such as health issues and external factors like load shedding, the Aronaff family remained committed to finding the right partner for their business. The sale to Dis-Chem represents a new chapter in Baby City's legacy and paves the way for future growth and expansion. The negotiations with landlords to secure favorable rent terms for the stores are ongoing, with both parties working towards a mutually beneficial agreement. As Baby City embarks on this new journey with Dis-Chem, the legacy of the Aronaff family in the baby business industry will continue to thrive and evolve.
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