Victory Lab - making quality men’s fashion accessible

5 OCTOBER 2023

Value at the heart of success – how Victory Lab has grown through challenging times

Victory Lab was launched in May 2021 to address a gap in the market for a standalone men’s value fashion retailer, with a unique blend of men’s fashion and athleisure clothing aimed at young South African male customers. This market remains under-served, which has provided an opportunity for significant growth. Leveraging the strengths of Gemelli, Victory Lab’s holding company, and an RMB Ventures investee company, they have expanded from four stores in Kwa-Zulu Natal to 35 stores across the country, during one of South Africa’s most challenging economic periods.

Driven by value

For Victory Lab, value is not just driven by pricing, but by maintaining the integrity and sustainability of a brand that is truly South African, which means that the quality of the garments as well as the in-store experience are essential components of success. As a smaller business, Victory Lab benefits from agility, and as part of a larger holding company they are also able to leverage scale and work with reputable factories for the manufacturing process.

“Value lies at the heart of our offering. All our product lines are bespoke and most of them are manufactured in South Africa, which gives us a unique edge in being able to deliver what our customers want. We also have our own in-house sportswear brand, Primo, which has become a well-known name in the South African football world and is making waves in a highly competitive and brand-loyal market” says Gian Chidoni, MD of Victory Lab.

From small beginnings to a national footprint

When Victory Lab launched in 2021, they had four stores located in Kwa-Zulu Natal, and almost immediately lost one of the stores in the rioting and looting that overtook the area in July that year. They were also heavily affected by the disastrous flooding the following year. Despite these setbacks, the retailer focused on growth and rebuilding, and in 2022 they expanded rapidly, growing to a total of 32 stores across KZN, Gauteng, the Free State and the Eastern Cape. In 2023 they reopened the store that was closed following the riots, and opened an additional two stores, bringing the total to 35 with plans to expand to 38 by the end of the year.

“Our expansion has slowed this year, but this was a strategic move that allowed us to settle our internal structures and take a deeper dive into our customers’ needs. Our goal is to fulfil a niche in the market and offer our customers more than just quality fashion at great prices. We see significant opportunity in KZN and Gauteng, but we are also looking to move into underserved areas of the country like the Northern Cape, Limpopo and Mpumalanga, and we are now poised for further expansion in 2024 and beyond,” says Chidoni.

The power of partnerships

“While there are numerous challenges to growing a small retailer, including load shedding and the economic climate which have caused us to inevitably lose customers, we need to roll with the punches. Adversity always presents opportunity, and we have taken this time to refine what we are doing and discover how can we add more value to retain and win customers. RMB Ventures, through their investment in Gemelli, has been an invaluable ally,” Chidoni says.

“From the time they became part of the board they have brought a wealth of knowledge and an objective external viewpoint that is so important when you are in the proverbial trenches. Their input gives us a different way of looking at business. They provide a sounding board to bounce ideas off, and they assist us to develop the structure that has been instrumental in our sustainable growth strategy,” he adds.

With ambitions to become a destination of choice for casual menswear and urban street fashion, Victory Lab has focused on making quality men’s fashion accessible to a broad range of South Africans. The company is on track to open between 15 and 25 new stores in 2024.

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