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Industry News

South African & East African Footwear and Leather Goods, Leather and PPE industry news.

Foreign investors sell SA apparel retail shares

Published: 11th Sep 2023
Author: Tony Dickson - S&V Editor

According to an article in Moneyweb on 05 September, foreign investors have “dumped” shares in entertainment business MultiChoice Group and apparel retailers Mr Price Group and TFG Ltd.

It said the catalyst had been a quarterly review of indices by US investment advisor MSCI Inc., which had led to “an approximate outflow of R7 billion (US$360 million)”.

In response to a request for comment by S&V, TFG CEO Anthony Thunström wrote: “The South African consumer remains under significant pressure as a result of high cost of living increases, elevated interest rates and the negative effects of ongoing load-shedding. These conditions are likely to remain for the rest of this year but should start to ease in the new year.”

Mr Price Director of Investor Relations & Stakeholder Engagement, Matthew Warriner, said the issue “has already been widely covered over the past few weeks as the MSCI index quarterly changes took effect”. 

BBF accuses Dromex of ‘crossing ethical line’, threatens legal action

Published: 11th Sep 2023
Author: Tony Dickson - S&V Editor

Pinetown, KZN, SA - In a letter to customers dated 04 September, signed by CEO Brian Kuhnert, safety footwear manufacturer BBF Safety Group has accused competitor Dromex of “crossing an ethical line” by copying 2 of its best selling styles, the Sisi Reese and the Bova Neoflex. It says it is “considering the appropriate legal recourse against Dromex”.

More to follow. 

Situation ‘unsustainable’

Published: 11th Sep 2023
Author: By Peter Meinzer; Thiel’s Shoes

Windhoek, Namibia - Trading conditions this year so far show a positive growth monthly! Considering the increase in expenses, living costs, etc., there is still no balance between business and reality!

Namibia has an estimated population of 2.6 million. 43% of the population is experiencing multidimensional poverty!

1.6 million people live off grants/pension/feeding programmes (source: UN + Namibian Government), leaving a mere 1 million liquid people to keep the trading economy afloat.

To reach the trading peak of 2018 will still take a long time.

Customers have everything and too much. The quality of goods in general is declining and prices are climbing. Survival is the key word! 

Pittards shuts

Published: 11th Sep 2023
Author: Tony Dickson - S&V Editor

UK tannery and glove maker Pittards has closed following failed talks with a prospective buyer, according to a BBC report.

Most of the 135 staff at its Yeovile, Somerset plant have been made redundant.

According to the report, "Administrators are assessing options with regards to its Ethiopian business and are in discussions with local management in this regard". Pittards Ethiopia employs around 900 people. 

Tags: Pittards
Permalink: Pittards shuts

Outdoor: Awaiting seasonal upturn

Published: 4th Sep 2023
Author: By Sasha Nieuwoudt; manager/buyer; Camp & Climb

Cape Town, W. Cape, SA - Trade is quiet at the moment, but winter is always quieter for us, and we expect it to pick up with summer.

We get a lot of tourists at our Paarden Eiland store, and they tend to kit themselves out. Local customers at our other stores tend to buy what they need, as they need it.

Sourcing has improved. We buy from distributors, and we import ourselves. Some of the canvas goods are locally made. 

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