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S&V Weekly Newsletter Vol.4 No.22, June 4, 2018

This Newsletter is sponsored by SAFLIA

Please note: Click on any ad to go to the advertiser’s website

 

Jaraf not producing, Sneaker Factory a CMT operation

Durban (SA) – While Jaraf Moccasin is in liquidation and is not producing footwear, its sibling company, Sneaker Factory (Pty) Ltd, is continuing production as a CMT operation, spokesman Rafiq Mahomed has confirmed.
       Jaraf Moccasin Manufacturers cc went into voluntary liquidation on February 22. He said Jaraf's moccasin plant occupied around 750 m² of the 2 250 m² leased premises in Hunslet Road, Phoenix, and was currently sealed off.
       The Kayo vulcanising plant is also not currently in operation. He blames the acquisition of SA's only remaining vulcanised canvas plant, and "unfulfilled promises by the Eastern Cape provincial government, and the IDC", for Jaraf's financial situation. He said about 30% of Kayo's equipment is in Phoenix, while the balance is still in the Eastern Cape.
       Sneaker Factory, which is equipped to make sandals, is producing around 1 000 pairs/day of infants' and children's leather and synthetic sandals for Universal Footwear & Trading Company, he said.
       He said it had also been loaned some moccasin-making equipment by footwear manufacturers, and was producing around 300 pairs/day on a CMT basis.
       "Many people have been assisting us," he said. "Most suppliers have also been very understanding."
       A spokeswoman for joint liquidator N Moodley of PMG Trust (Pty) Ltd confirmed the first meeting of creditors of Jaraf had been held on April 26, but said no report had yet been issued, and a date for the second meeting had not been set. - +27 (0)31 500 2873, rafiq.jaraf@gmail.com

 

 

The following announcement appeared on the STAR Group website on Monday, June 4

Steinhoff Africa Retail Limited - claim lodged by founders and original shareholders in Tekkie Town in terms of an alleged earn out agreement

Cape Town (SA) – Shareholders are referred to an announcement made on 16 May 2018 pertaining to a claim against STAR in respect of of an alleged earn out agreement.
       At the time of the announcement, shareholders were informed that STAR did not receive any legal documents in this regard. STAR has now received a summons on 4 June 2018.
       STAR confirms that it is still of the view that it is not a party to any such earn out agreement and STAR further confirms that it has received advice from senior counsel that there is no reasonable prospects of it being held liable in this regard. - Source

 

 

Component Cluster: Due diligence shortly

Johannesburg (SA) – The Industrial Development Corporation will shortly be doing due diligence on component suppliers who have applied to join the proposed component cluster.
       IDC senior account manager Gavin Smith is expected to visit Durban either in early June or early July.
       The cluster is the latest in a series of clusters aimed at making the footwear industry more competitive.
       The principal function of the cluster will be to improve the technology of the component sector, and it will be aimed at component manufacturers rather than wholesalers.
       Cluster chairman Mark Gibbings, of Apeco, said about 15 companies had applied to join.
       He said Apeco - a wholesaler and commission agent - stood to gain very little from membership. "I agreed to chair the cluster for longer term benefit," he said. "Any overall improvement in the industry is good for Apeco, too. Besides, I have the interests of the industry at heart."

 

 

They Said It

"You’ve misspelt it … it's observant, observant, observant." - International School of Tanning Technology administrator Debbie Archer. I'd told her she was "picky, picky, picky" for quibbling over the dates on an invoice.

 

What's in a word?

A restaurant in Durban's CBD is promoting the soundness of its meat sourcing...but somehow the message to the sign writer got a bit muddled. What should have been 'ethically farmed' chicken became 'ethnically farmed'. What a difference two little letters of the alphabet can make.

 

 

Exchange rates

Source: http://www.x-rates.com/calculator/

 
  Euro € GBP £ US $ Yuan Renminbi ¥
11/12/2017 R15.82 R17.99 R13.40 R2.03
05/01/2018 R14.86 R16.69 R12.33 R1.90
13/01/2018 R15.14 R17.03 R12.41 R1.92
22/01/2018 R14.76 R16.75 R12.08 R1.88
26/01/2018 R14.74 R16.79 R11.86 R1.87
05/02/2018 R14.96 R16.89 R12.02 R1.91
12/02/2018 R14.64 R16.51 R11.95 R1.88
16/02/2018 R14.43 R16.30 R11.63 R1.83
23/02/2018 R14.19 R16.12 R11.54 R1.82
05/03/2018 R14.60 R16.39 R11.85 R1.86
12/03/2018 R14.58 R16.43 R11.82 R1.86
16/03/2018 R14.72 R16.70 R11.97 R1.89
23/03/2018 R14.53 R16.60 R11.75 R1.86
03/03/2018 R14.58 R16.62 R11.83 R1.88
11/04/2018 R14.75 R16.91 R11.93 R1.90
16/04/2018 R14.89 R17.23 R12.04 R1.91
23/04/2018 R14.99 R17.11 R12.27 R1.94
30/04/2018 R15.06 R17.16 R12.47 R1.96
07/05/2018 R14.96 R16.98 R12.55 R1.97
14/05/2018 R14.60 R16.54 R12.21 R1.92
22/05/2018 R14.84 R16.92 R12.61 R1.97
28/05/2018 R14.47 R16.55 R12.43 R1.94
04/06/2018 R14.70 R16.78 R12.54 R1.95

 

 

 

Birthdays this week

04/06/1956: Romualdo Varela, left SA, formerly Zenda, Pretoria.
05/06/1929: Hannes Louw, retired, formerly KKI, Mossel Bay.
05/06/1960: Tom Bassage, CC Leather, Pietermaritzburg.
05/06/1967: Vimla Naidoo, Edcon, Durban.
06/06/1943: Doug Patterson-Roberts, Marchez Shoe Salon, Shelley Beach.
06/06/1951: Yusuf Mayet, Come Duze Store, Sandton.
06/06/1963: José Leite, SA Polymers & Compounds, Gillitts.
07/06/1984: Clenton Govender, Prisaan Footwear, Pinetown.
08/06/1955: Brad Lemkus, retired, formerly Hi-Tec.
09/06/1957: Willem Fourie, Images, Bloemfontein.
09/06/1964: Jayne Pillay, Edcon, Durban.
10/06/1951: Marthus Louw, retired, formerly Bolton Footwear, Great Brak River.
10/06/1955: Piet Kleyn, acting CEO, SA Ostrich Business Chamber and chairman, KL Ltd board, Oudtshoorn.
10/06/1961: Richard Turner, emigrated, formerly Bolton Footwear, Great Brak River.
10/06/1983: Jarod Grossberg, G-Step, Durban.

 

In Memoriam this week

04/06/2002: Rex Phillipson (b. 13/4/1917), Picaninni Shoes [closed], Durban.
06/06/2001: Willem Elbers (b. 09/04/1941), East Cape Tanning/BASF.
06/06/2002: Willie Compion (b. 21/10/1929), G&D Shoes [closed], Bulawayo.
06/06/2013: Willem Lubbe (b.25/01/1925), AP Lubbe & Son [closed], Stellenbosch.
09/06/2002: Howard ‘Snowy’ Vaubell, Crown Footwear, Pinetown.
09/06/2003: Dr Stanley Shuttleworth (b. 1911), LIRI founder [closed], Grahamstown.

Do you have any names you’d like to add to our list of birthdays and In Memoriam? Please send the details.

 

ABSA Agri Trends 01/06: Hides & skins prices

The average hide price over the past week was R7.74/kg green. NB* Hide prices are determined by the average of the RMAA (Red Meat Abattoir Association) and independent companies. The average price for Dorper skins was R30.71, and for Merino skins was R95.89.

Hide & skin price progression
Date Hides/Kg Dorper/Skin Merino Skin
19/01 15.34 45.56 81.38
24/01 15.17 40.92 89.52
31/01 15.10 46.00 94.55
14/02 14.65 47.33 95.29
15/03 14.25 39.30 78.75
24/03 14.13 45.27 94.45
28/03 14.07 45.27 94.45
04/04 14.83 41.92 87.58
11/04 14.68 41.92 84.12
19/04 14.77 43.85 92.32
25/04 14.75 41.25 92.27
04/05 14.79 43.33 92.69
10/05 14.75 40.50 88.41
16/05 14.58 40.83 90.96
31/05 14.62 40.50 87.95
09/06 14.58 41.82 96.35
23/06 14.40 40.42 101.25
29/06 14.30 41.36 98.44
07/07 14.33 43.33 100.94
13/07 14.37 44.44 114.58
28/07 14.14 43.64 97.50
04/08 14.16 43.69 99.64
14/08 14.08 38.99 92.75
18/08 13.70 43.18 98.96
25/08 13.93 43.75 100.96
01/09 13.14 44.09 101.25
08/09 12.88 41.82 100.83
21/09 12.64    
03/10 12.50    
11/10 12.52    
20/10 12.23 39.30 110.23
27/10 12.12 37.30 94.32
02/11 12.19    
10/11 12.24 37.00 101.75
30/11 11.82 32.56 94.25
07/12 11.76 35.50 92.50
14/12 11.53 35.50 91.86
02/02 10.39 32.50 92.22
09/02 10.17 33.13 91.27
16/02 9.94 32.50 88.26
16/02 9.94 32.50 88.26
16/03 9.62 33.75 90.50
23/03 9.56 32.22 87.63
06/04 8.86 36.67 82.50
13/04 8.98 35.00 81.25
23/04 8.40 35.13 86.00
26/04 8.18 34.13 86.11
07/05 7.89 33.33 83.13
18/05 7.71 33.50 82.22
25/05 7.78 31.38 86.06

 

Trade Fair dates

For a list of local and international trade fairs covering footwear, leather goods, leather and PPE, visit our website: http://www.svmag.co.za/events.php

  

Contact us

News & Classifieds: Tony Dickson, +27 (0)31 209 7505, tony@svmag.co.za

Next newsletter: June 11, 2018.

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