S&V Weekly Newsletter Vol.3 No.49, December 11, 2017
This Newsletter is sponsored by SAFLIA
Please note: Click on any ad to go to the advertiser’s website
Steinhoff: No problems expected for local operations
Cape Town (SA) – Suppliers to Steinhoff's South African apparel retail subsidiaries have been advised they will shortly receive an official statement on the status of the group.
Suppliers spoken to said the local operations appeared to be trading well and unaffected by the storm which has engulfed the multinational.
Last Tuesday, Steinhoff International Holdings N.V. issued this statement on its website:
Steinhoff announces investigation into accounting irregularities and resignation of CEO
The Supervisory Board of Steinhoff wishes to advise shareholders that new information has come to light today which relates to accounting irregularities requiring further investigation. The Supervisory Board, in consultation with the statutory auditors of the Company, has approached PWC to perform an independent investigation. Markus Jooste, CEO of Steinhoff has today tendered his resignation with immediate effect and the Board has accepted the resignation. Steinhoff will update the market as the aforesaid investigation proceeds. The Company will publish the audited 2017 consolidated financial statements when it is in a position to do so. In addition, the Company will determine whether any prior years’ financial statements will need to be restated. The Supervisory Board has today appointed its Chairman, Dr. Christo Wiese, as Executive Chairman (Delegated Supervisory Chairman) on an interim basis. In addition, Pieter Erasmus, the previous CEO of Pepkor Group, has agreed to join Dr. Wiese in an executive advisory capacity to assist with managing the group’s various retail interests around the world. Dr Wiese and the Board will supplement the management team and will embark on a detailed review of all aspects of the Company’s business with a view to maximising shareholder value. The Supervisory Board wishes to reassure shareholders that Steinhoff has a number of high quality profitable businesses around the world. Shareholders and other investors in Steinhoff are advised to exercise caution when dealing in the securities of the Group. - http://www.steinhoffinternational.com/
Tommy Hilfiger: New franchisee
Amsterdam (The Netherlands) (December 11, 2017) – Tommy Hilfiger, which is owned by PVH Corp. [NYSE: PVH], announces Glenhaven South Africa (Pty) Ltd. (Glenhaven) as the new exclusive franchise partner for the Tommy Hilfiger brand in South Africa. The agreement was effective November, 2017. The brand was previously exclusive to the now closed Stuttafords.
Glenhaven operates 6 Tommy Hilfiger stores in Johannesburg (Sandton, Eastgate, Mall of Africa) Pretoria (Menlyn Park) and Cape Town (V&A Waterfront) that are either reopening or new openings in connection with the launch of the franchise partnership.
Death notice
Cape Town (SA) – Jim Butterworth, who was retired after a long footwear career which, in this country, included Elliott Footwear, Crown Footwear and Martin Johnson, died on December 3, aged 80.
Exchange rates
December 04. Source: http://www.x-rates.com/calculator/
| Euro € |
R16.02 |
| GBP £ |
R18.13 |
| US $ |
R13.57 |
| Yuan Renminbi ¥ |
R 2.05 |
The Season of Giving
Cheleigh MacDonald with parcels of shoes donated by SAFLEC members.
Cheleigh MacDonald (9), of Parkside Primary School in Queensburgh/Malvern , had collected over 600 pairs from friends and family when an article appeared in a local newspaper.
SAFLEC members Angel Shoes, BBF, Caprini Footwear, Foot Style and Nikkita Footwear donated a further 510 pairs.
SAFLEC has also donated school shoes and exercise books to 2 rural schools in Limpopo. We have also handed school shoes over to Lakehaven Childrens’ Home in Newlands and to St Thomas Home for Children in Sydenham. The shoes were sponsored by Labora Shoes, Novita Shoes and Foot Style. Caprini Footwear sponsored the exercise books. A total of 190 pairs of school shoes have been donated.
They Said It
"Previously, we had to snatch a designer from another factory. Isn't that right, Eugasen?" - Labora Shoes director Desmond Chunderlal, in a speech underlining the importance of training designers. He was speaking at the Labora Training Centre's footwear design graduation last Thursday, and his humorous aside was addressed to Novita Shoes' Eugasen Reddy, who was in the audience.
Birthdays this week
11/12/1965: Anwar Cassim, Catwalk Footwear Manufacturers, Durban.
12/12/1937: M Kadwa, Umzinto Wholesalers, Umzinto.
12/12/1949: Johan Barnard, Envirotan, Port Elizabeth.
12/12/1956: Chandrakant Dajee, Avalon Job Buyers
12/12/1980: Craig Lahee, Ritewear Footwear, Cape Town.
13/12/1959: Kersie Govender, CK Shoes, Pietermaritzburg.
13/12/1960: Ebrahim Sonpra, Sonpra’s Warehouse, Pietersburg/Polokwane.
14/12/1953: Rachmat Thomas, Chic Shoe Manufacturers, Cape Town.
14/12/1957: Paul Henshaw, Puma, Cape Town.
14/12/1988: Lu Fraser, Claw Boot International, Johannesburg.
15/12/1973: Charl Lucas, Springbok Skoeisel, Springbok.
15/12/1975: Sabrina van Rooyen, Van Hobs Dry Cleaners, Pretoria.
15/12/1983: David Fox, Good Hope Sales, Cape Town.
16/12/1939: Danny Pincus, agent, Johannesburg.
17/12/1972: Iqbal Abdulla, Studio 88, Johannesburg.
In Memoriam this week
14/12/2016: Raman Merchant (b. 02/06/1929), Merchant’s Outfitters, Port Elizabeth.
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 07/12: Hides & skins prices
The average hide price over the past week was R11.76/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 R35.50, and for Merino skins was R92.50.
| 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 |
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
Classified Adverts
Lots and lots of experience on offer!
I am seeking to obtain a position in the footwear industry which I have enjoyed working in since 1972.
- I have worked in sales as an agent (Rockshoes / Paradise Wholesalers);
- As a chain footwear buyer and later merchandise director (for The Hub, Stuttafords and Footgear), and later as senior footwear buyer for Game / Massmart;
- As a manufacturer (I started Tuppino Footwear in 1992);
- As an independent retailer (I had 4 stores at one point).
The Footwear Industry has and always will be of interest to me, be it sales or in a management capacity or as a buyer, and I believe I have boundless expertise and enthusiasm to offer a wide variety of businesses in the industry. Prepared to relocate if required. - Neil Tupper, Cell: 0827732221, Email : neilt@ushomi.co.za
Contact us
News & Classifieds: Tony Dickson, +27 (0)31 209 7505, tony@svmag.co.za
Next newsletter: December 15, 2017.
SAFLIA enquiries: Tel 0800SAFLIA * Email info@saflia.co.za * Website http://www.saflia.co.za
Should you wish to subscribe email tony@svmag.co.za
Our website www.svmag.co.za
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