| Thu 16 Aug 2007, 12:07 | | NCL - New Clicks Holdings Limited - Musica appoint |
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NCL
NCL
NCL - New Clicks Holdings Limited - Musica appoints Ralph Lorenz as MD
New Clicks Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1996/000645/06)
JSE share code: NCL
ISIN: ZAE000014585
("New Clicks")
MEDIA RELEASE: MUSICA APPOINTS RALPH LORENZ AS MANAGING DIRECTOR
Specialist retail group New Clicks Holdings has announced the appointment of
Ralph Lorenz as managing director of Musica, the largest entertainment and music
retail business in the country, from 1 September 2007.
An experienced retailer with over 20 years service in the Foschini Group, Lorenz
(46) has been operations director of menswear chain Markham since 2002.
He replaces Colin Robb who has been with Musica for 16 years, the past five as
managing director, and has decided to move on to new challenges.
New Clicks group chief executive, David Kneale, complimented Robb on the role he
has played "in managing Musica`s successful transition from a purely music
business into an entertainment specialist. Only four years after adopting this
strategy, already over 40% of Musica`s turnover is being generated from non-
music merchandise such as DVD, gaming and lifestyle accessories," he said.
Kneale said the directors and management believe Ralph Lorenz has the
credentials to lead Musica into its next growth phase. "Ralph is an energetic
and astute retailer who is passionate about people management. We are confident
that he can lead the young management team in building on the successes of the
past."
Lorenz acknowledged that Musica has incredible growth potential in the local
entertainment retail market. "Our main priority will be to continue transforming
Musica into a specialist entertainment retailer as DVD and gaming become more
popular and affordable."
"Musica is committed to broadening access to the brand and aggressively
expanding the store footprint which has remained relatively static in recent
years. The increasing spending power of the middle class consumer market is
creating further opportunities for opening new stores."
Musica currently enjoys an estimated 22% share of the local entertainment market
and has 148 stores nationally, "with the potential to grow this to around 200
stores in the medium-term", added Kneale.
Issued by Tier 1 Investor Relations on behalf of New Clicks
For further information kindly contact
David Kneale
Group Chief Executive
New Clicks Holdings
(021) 460-1167
Graeme Lillie
Tier 1 Investor Relations
(021) 702-3102
082 468 1507
Cape Town
16 August 2007
Sponsor: Investec Bank Limited
Date: 16/08/2007 12:07:01 Produced by the JSE SENS Department.
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