S&V Weekly Newsletter Vol.6 No.24, June 15, 2020
This Newsletter is sponsored by SAFLIA
Please note: Click on any ad to go to the advertiser’s website
Restarting retail
Following blanket cancellations and instructions to suppliers not to deliver by a number of chains, we approached several of them on Friday for comment. Only Anthony Thünstrom, CEO of TFG, has so far responded, but we hope for further comments next week.
TFG: Orders recommenced
Cape Town, W Cape, SA (June 12, 2020) – We have already re-commenced orders and purchasing according to customer demand.
The first summer orders will start to flow from July and be available to customers in our stores in August.
We are communicating updates to our suppliers and working with our supply base to accommodate specific challenges in an attempt to find solutions.
We have been receiving deliveries since the lifting of restrictions in early May.
Edcon: No answers yet about potential buyers
Johannesburg, Gauteng, SA (June 11, 2020) – According to Moneyweb, "the list of Edcon’s secured creditors, published as part of the business rescue plan on Monday, reveals that a total of R3.7 billion is owed to more than 80 entities. The list of unsecured creditors is likely far larger (running to many more billions), but these businesses are either fourth or last in the queue, depending on their status. The business rescue practitioners have announced that they are pursuing an accelerated sales process of parts of the Edcon group after no buyers nor any investors were found for the entire business."
This list excludes trade creditors.
In response to a query from S&V about the identity of potential buyers, a senior Edcon staff member said: "We know as much as you do."
Closing
Shoe Empire calls it quits
Boksburg, Gauteng, SA – 3-store discount retailer Shoe Empire went into liquidation on May 29 and ceased trading on June 4, MD Mario da Silva said last Wednesday.
He said trading conditions and the general state of the economy were to blame, "and Covid didn't help".
"When we reopened in May, turnover was a pittance of what we used to do," he said.
"When I took over Shoe Empire in 2014 we had little to no competition in the Boksburg area. However, over the past few years, numerous (more than 10) SUPPLIERS opened their own stores on our doorstep.
"It is a little bit difficult when the suppliers you support, also become your competition. This is not an excuse, but reality."
He had enquired about putting the business into business rescue, but that he had been advised that it would be too costly.
He said he had "no idea" what he would do going forward.
"I've been in retail since the age of 10, but I think retail will be done with, eventually.
"Will I go back into it? Perhaps. Would I like something easier than retail? Probably. Do I want staff? No I don't.
"I've been in different types of retail aside from footwear, but retail is retail - you buy for 5 and sell for 10.
"Today's my 49th birthday, actually, so I'm not having the best of birthdays."
Rescue package for Adidas
According to a report in Bloomberg on April 14, Adidas AG was approved for 3 billion euros ($3.3 billion) in aid from the German government and banks, and the company will cease dividend payments as it grapples with the fallout from the coronavirus crisis.
They Said It
"You should have been a rabbi...You enjoy cutting people's xxxxxs off." - Footwear agent Ian Gordon, to me.
"But I've lost a lot of weight since then...you know, all those cancelled orders." - Gordon again, referring to his WhatsApp photo.
"No, no, no!!!!!" - Dr Clive Jackson-Moss of the ISTT responding to my request to use an email comment from him in this column. Spoil sport. All I can tell you is that it had to do with sheep and sexual orientation.
Got anything you'd like to share?
Do you have any suggestions, comments or experiences about the lockdown that you'd like to share with the industry? We will publish the throughout the lockdown, so please let us know. - tony@svmag.co.za
2020 Trade Fairs Another essential service from S&V
Please note that we have updated most 2020 trade fairs and conferences on our website, linked to their websites: http://www.svmag.co.za/events
Exchange rates
Source: http://www.x-rates.com/calculator/
| |
Euro € |
GBP £ |
US $ |
CNY ¥ |
| 2020/01/04 |
R15.97 |
R18.71 |
R14.31 |
R2.05 |
| 2020/01/11 |
R15.97 |
R18.76 |
R14.36 |
R2.07 |
| 2020/01/18 |
R16.04 |
R14.47 |
R14.47 |
R2.10 |
| 2020/01/25 |
R15.87 |
R18.82 |
R14.39 |
R2.07 |
| 2020/02/01 |
R16.54 |
R19.81 |
R15.00 |
R2.16 |
| 2020/02/08 |
R16.48 |
R19.41 |
R15.06 |
R2.15 |
| 2020/02/17 |
R16.16 |
R19.44 |
R14.90 |
R2.13 |
| 2020/02/22 |
R16.27 |
R19.43 |
R15.00 |
R2.13 |
| 2020/02/29 |
R17.27 |
R20.08 |
R15.66 |
R2.24 |
| 2020/03/07 |
R17.69 |
R20.44 |
R15.67 |
R2.26 |
| 2020/03/14 |
R18.04 |
R19.94 |
R16.25 |
R2.32 |
| 2020/03/21 |
R18.92 |
R20.50 |
R17.60 |
R2.48 |
| 2020/03/28 |
R19.63 |
R21.93 |
R17.61 |
R2.48 |
| 2020/04/04 |
R20.58 |
R23.37 |
R19.03 |
R2.68 |
| 2020/04/11 |
R19.70 |
R22.43 |
R18.01 |
R2.56 |
| 2020/04/18 |
R20.43 |
R23.49 |
R18.79 |
R2.65 |
| 2020/04/25 |
R20.59 |
R23.53 |
R19.02 |
R2.68 |
| 2020/04/30 |
R20.24 |
R23.27 |
R18.51 |
R2.62 |
| 2020/05/09 |
R19.89 |
R22.69 |
R18.29 |
R2.58 |
| 2020/05/16 |
R20.11 |
R22.49 |
R18.58 |
R2.61 |
| 2020/05/23 |
R19.24 |
R21.47 |
R17.64 |
R2.47 |
| 2020/05/30 |
R19.48 |
R21.67 |
R17.54 |
R2.45 |
| 2020/06/06 |
R18.93 |
R21.28 |
R16.77 |
R2.37 |
| 2020/06/13 |
R19.19 |
R21.39 |
R17.06 |
R2.40 |
Note: For previous rates, see HERE
ABSA Agri Trends: Hides & skins prices
Johannesburg, Gauteng, SA (June 08, 2020) - The current average hide price decreased marginally by 0.3% to R0.71/kg from R0.72/kg green a week ago. The current price, however, is 12.8% lower than the average price a month ago and is 57.7% lower than the average price a year ago. Prices are extremely low across the board. There’s no local automotive manufacturing, which is driving the hide demand to non-existent levels. The local hide industry is expected to remain under pressure for the next few months. Stakeholders hope that the export market will pick up again from August/September. NB* Hide prices are determined as the average of the RMAA (Red Meat Abattoir Association) prices and prices of independent companies. - Conce Moraba, agricultural economist, Absa group.
| Hide & skin price progression |
| Date |
Hides/Kg |
Dorper/Skin |
Merino Skin |
| 2020/01/03 |
1.38 |
35.00 |
46.67 |
| 2020/01/10 |
1.42 |
28.69 |
45.71 |
| 2020/01/17 |
1.35 |
30.74 |
45.71 |
| 2020/01/24 |
1.39 |
33.75 |
48.14 |
| 2020/02/07 |
1.36 |
33.47 |
47.50 |
| 2020/02/14 |
1.36 |
33.75 |
47.50 |
| 2020/02/21 |
1.32 |
33.75 |
47.50 |
| 2020/02/28 |
1.29 |
37.22 |
43.89 |
| 2020/03/06 |
1.29 |
36.50 |
43.50 |
| 2020/03/13 |
1.31 |
36.00 |
43.50 |
| 2020/03/27 |
0.93 |
37.22 |
48.33 |
| 2020/04/03 |
0.92 |
37.78 |
47.36 |
| 2020/04/10 |
0.89 |
35.63 |
42.22 |
| 2020/04/17 |
0.88 |
39.38 |
41.25 |
| 2020/04/24 |
0.89 |
33.82 |
43.33 |
| 2020/05/01 |
0.82 |
34.55 |
46.88 |
| 2020/05/08 |
0.82 |
32.10 |
43.33 |
| 2020/05/18 |
0.77 |
32.10 |
43.33 |
Note: For previous prices, see HERE
15/06/1945: James Cragg, agent, East London.
16/06/1945: Yusuf Kadwa, May’s Shoes, Durban.
16/06/1963: Deepak Dayal, Deluxe Footwear, Durban.
16/06/1965: Tersia Wessels, retired, formerly Crocs SA, Somerset West.
16/06/1973: Sue Meehan, left the industry, formerly Mantella Q Leather, Durban.
16/06/1985: Chris Stottelaar, Leather Systems, Port Elizabeth.
16/06/1960: Jaywant Irkhede, the DTIC, Pretoria.
17/06/1972: Odelle Hadnum, Chillisource, Durban.
17/06/1973: Alfredo de Oliveira, Fashion Fever, Welkom.
18/06/1933: Erich Debus, retired, formerly Richleigh Shoes [closed], Pietermaritzburg.
19/06/1979: Sumen Naicker, Fusion Footwear, Springs.
19/06/1969: Monica Frank, Labora Shoes, Durban.
20/06/????: Patricia Khumalo, the DTI, Pretoria.
In Memoriam this week
17/06/1994: Roy Inggs (b. 18/06/1932), Inggs Shoe Stores [closed], Roodepoort/Florida.
21/06/1992: Jonathan Greenblatt, Richleigh Shoes [closed], Johannesburg.
Have you let us know about your birthday, or the birthdays of your colleagues? Our readers love this section, so please become part of it. This also applies to the In Memoriam section. Help us remember former colleagues.
Have a look at these links
We invite businesses to send us links to websites, Facebook pages and the like which they feel would be of interest to others. The links below are from our database:
Chaussures Femme Gas, Antananarivo, Madagascar. Women's footwear.
Checkmate, Secunda, Mpumalanga, SA. Men's outfitter.
Classified Adverts
LUCRATIVE BUSINESS FOR SALE – DURBANVILLE – WESTERN CAPE
This business was established in 2007 and is an operational going concern. The Business has a loyal and large customer base in the WC and other provinces and offer excellent and affordable Hunting and Game skins products to the general public and commercial Wholesale/Retail trade.
Currently the only business in the Western Cape that tans hides, both commercial and game, with huge growth potential at competitive pricing.
Excellent earnings potential as business has not reached its full growth potential yet. Growth exists in expanding to larger client bases nationally and exploiting the International/export market.
We have well trained staff with more than 14 years in the industry. Email me for pictures and more detailed information if you are interested.
Enquires : Call JB SMUTS 0827383083 or E –Mail gameskinsafari@telkomsa.net
Contact us
News & Classifieds: Tony Dickson, +27 (0)31 209 7505, tony@svmag.co.za
Next newsletter: June 22, 2020.
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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