Cape Town entrepreneur turns global fashion waste into a fast-growing retail business

Stephen Grootes speaks to Amber Penney, co-founder and chief retail officer at Faro about her career journey and how she’s building a purpose driven retail empire.

Listen to the interview in the audio player below.

Cape Town entrepreneur Amber Penney is helping to tackle one of the fashion industry’s biggest problems: massive amounts of unsold clothing ending up in landfills, while consumers struggle with rising prices.

Penney is part of the founding team behind FARO Africa, a retail business that buys excess and slightly flawed stock from major international fashion brands and resells it at lower prices in South Africa. The idea is simple: take perfectly wearable clothing that would otherwise be destroyed and give it a second life in well-designed, affordable stores.

Before entering business, Penney competed at the highest levels of water polo, representing South Africa at world championships, World Cups and Olympic qualifiers. She says the discipline and mental toughness required in elite sport prepared her for the pressures of entrepreneurship, particularly in the highly competitive fashion retail sector.

Globally, an estimated $425bn worth of clothing goes unsold each year, often because it is from a previous season or has minor defects. Much of it is burned or sent to landfill. FARO sources this stock directly from global brands such as Zara, Levi’s, G-Star, Pull & Bear and Steve Madden, refurbishes items where needed, and sells them through what it describes as 'premium outlet' stores.

Unlike traditional discount outlets, FARO’s shops are designed to resemble high-end boutiques, with a strong focus on customer experience and in-store service. The aim is to make quality fashion more accessible without compromising on the shopping experience.

FARO aims to create around 4,000 jobs by 2028 and has launched the FARO Academy, an internal digital training platform designed to help employees develop skills and progress within the business.

Speaking to Stephen Grootes on The Money Show, Amber Penney, co-founder of Faro says the real achievement lies in reducing waste, creating employment and giving South Africans access to well-known global brands at more affordable prices.

"There's a lot of mistrust that's developed in the fashion industry, and so for us we really want to build a brand where people can ask all the questions they want."

- Amber Penney, co-founder - Faro

"Last year we started with four stores, and we ended with eighteen. So just in last year, we opened twelve stores."

- Amber Penney, co-founder - Faro

"There was a lot of doubt at the beginning, but I think through consistent communication and I think through growth and organically showing people. Ask the questions, we can show you the detail. There's nothing to hid here."

- Amber Penney, co-founder - Faro

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