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S&V Weekly Newsletter Vol.7 No.06, Feb 8 2021

This Newsletter is sponsored by SAFLIA

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

 

Business

South Africa

Tribunal to rule on John Craig takeover

Johannesburg, Gauteng – The Competition Tribunal is to rule on the takeover of Pepkor Speciality (Pty) Ltd chain John Craig by Studio 88's parent company, Blue Falcon 188 Trading (Pty) Ltd.
      Blue Falcon has taken over 79 John Craig stores. The remaining 22 were closed "as these are not economically viable in the current trading conditions", Geraldene du Toit, chief executive: human resources at Pepkor Speciality told S&V.
      She said 428 of John Craig's staff had moved across to Studio 88, 66 have moved to other divisions of Pepkor Speciality, and 61 were retrenched.
      The retrenched staff included MD Lily Moreira and most other head office personnel, who left the company at the end of January.
      "I've been with John Craig for nearly 30 years," she said on Friday, "and I'll miss being there. However, I have quite a few personal interests outside of retail, and I feel I need a bit of 'me time' right now."
      John Craig, which was particularly strong in formal wear, was hit harder than many other retailers by the pandemic.

 

The Ghetto: Niche brands help keep turnover stable

Boksburg, Gauteng – Member Bilal Daya, member of 3-store business Yousuf Suliman cc, which trades as The Ghetto and Funky Footwear, said trading has been "stable".
      "It's not great and it's not bad," he said. "In clothing, our turnover is more-or-less the same as the same time last year. Footwear isn't doing as well - that's definitely down."
      He said The Ghetto and Funky Footwear cater mainly to LSMs 7 to 9 "who have been less affected by economic conditions".
      He said the stores had been "running away from the likes of Nike and Adidas", instead preferring to stock niche product and brands exclusive to it, including Dutch apparel brand Cruyff and Vialli, a jeans wear brand owned by his family.
      The business closed its third East Rand Mall outlet, which was trading as Yousus Suliman Casuals, and instead opened a second The Ghetto outlet in East Rand Junction, a mall also owned by his family.

 

Men's boutique: It's fine, if you focus

Durban, KZN – A 6-store men's boutique mini-chain who wished to remain anonymous said trade had been fair.
      "Everything's relative,' he said. "Obviously January's quieter than December."
      He said he hadn't been offering more specials or stocking lower-priced merchandise. "If we've been doing anything correctly, it's been having the correct product mix, with sufficient depth. We're focused on our core brands, and it's important to know when to start with a brand, and when to exit. I know there are a couple of brands that I plan to be out of by the end of this year.
      "Look at what the bigger brands are doing: They have their own mono-brand stores, factory outlets, and online trading. They're cutting back on independents, and some independents aren't helping themselves by not displaying brands properly, and, of course, by being bad payers."

 

DMF Stores in business rescue

Johannesburg, Gauteng – The DMF mini-chain, which specialises in parcels of branded goods, went into business rescue on January 15, according to a notice to all affected parties, signed by director David Fine.
      The business rescue practitioner is Johan Louis Klopper, louis@coronado.co.za.

 

 

UK

Footwear chain Dune weighs CVA amid high street carnage

UK fashion footwear chain Dune London seeking ways to survive, according to Sky News.
      ...Dune Group is working with KPMG on talks with landlords about potential rent cuts, Sky News learns.
      The high street shoe chain Dune Group is to kick off a fresh round of talks with landlords as it seeks to cut costs and navigate through the coronavirus pandemic.
      Sky News has learnt that the privately owned retailer has appointed advisers from KPMG to help it review strategic options that could lead to a restructuring process called a company voluntary arrangement (CVA).
      Dune was founded by Daniel Rubin in 1992, and now has 43 standalone stores and a workforce of roughly 1,200 people.
      It also trades from approximately 175 concessions, some of which have been affected by the liquidation of Debenhams' estate.
      The chain's stores have all been closed for much of the last year because of the series of lockdowns affecting non-essential retailers across Britain.
      Mr Rubin, who remains Dune's chief executive, said: "The trading environment continues to be extremely tough, and like many other high street retailers, we are reviewing all aspects of our business to ensure we're in the best position possible to navigate our way through this difficult period.
      "We've had constructive dialogue with our landlords since the start of the pandemic, but we now need to engage with them further if we are to safeguard our future.

 

 

They Said It

"What a brilliant account of things by the folk at Zaa Zaa Shoes. They are spot on with all of their assessments of the current situation. Unlike the absolute bs from WW in an article a little further down the page. Ask the Claremont branch if turnover is up or down for the Financial Year 2021. Then ask Sandton and then Umhlanga and East London. They will all tell you the same thing - 'we are properly down'." - A.P. Jones' Greg Bing, reacting to the reports in last week's newsletter.

"I wouldn't do anything to help a chain." - Saeed Bux, MD of small stitchdown and moccasin manufacturer Elahi Footwear, Durban, KZN, SA. Elahi supplies independents and wholesalers, but in the 1980s and 1990s he was MD of major women's fashion footwear factory Suntime. He blames the fashion chains - all of them - for Suntime's closure and a huge personal loss.

 

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

 

08/02/1949: Jeff Isaacson, agent, Durban, KZN, SA.
08/02/1955: Mukesh Merchant, Merchant’s Outfitters, Port Elizabeth, E. Cape, SA.
08/02/1972: Kiran Pattundeen, Palm Footwear, Durban, KZN, SA.
07/02/1957: Arun Prag, Prag Shoes and Leatherworks, Somerset West, W. Cape, SA.
08/02/19??: Miles O’Brien, retired, formerly Jordan Shoes, Cape Town, W. Cape, SA.
08/02/1975: Hugh Hansen, CL Hansen Agencies, Durban, KZN, SA.
09/02/1971: Anthony Lopez, Lopez Leathers, Cape Town, W. Cape, SA.
09/02/1973: Steven Govender, ?, formerly Spunlok Laminators, Pinetown, KZN, SA.
09/02/1979: Mahomed Tadia, Less Price Fashions, Delmas, Mpumalanga, SA.
09/02/1989: Tahir Jeewa, Traford Footwear, Durban, KZN, SA.
12/02/1951: Jack Bassage, Eddels Shoes, Pietermaritzburg, KZN, SA.
12/02/1961: Jon Robb, Neptun Boot, Pinetown, KZN, SA.
12/02/1968: Pino di Lembo, SA Crocodile & Exotic Skins Agencies, Johannesburg, Gauteng, SA.
12/02/1968: Sean Hadnum, Chillisource, Durban, ZN, SA.
13/02/1950: Rowan Allison, Midland Leather, Pinetown, ZN, SA.
13/02/1950: Dhiraj Dajee, Avalon Job Buyers, Cape Town, W. Cape, SA.
13/02/1964: Jean-Marc Tostee, agent, Durban, KZN, SA.
13/02/1975: Naeem Sonpra, Sonpra Bros, Polokwane/Pietersburg, Limpopo, SA.
13/02/1977: Steven Eckstein, emigrated, formerly Sports Action, Durban, KZN, SA.
14/02/1951: Maryse de Ranero, Great Brak River, W. Cape, SA.
14/02/1975: Alita Scholtz, All Protection Safety, Vanderbijlpark, Gauteng, SA.
14/02/19??: Janine du Preez, freelance consultant, Cape Town, W. Cape, SA.

 

In Memoriam this week

08/02/2016: Vishal Rishidaw, Smiley’s Footwear, Durban, KZN, SA.
08/02/2020: Mike Wakeling (b. 18/05/1949), Clarks Footwear, UK, Edworks, Jack & Jill and Millana Shoes, Port Elizabeth, E. Cape, SA, Matchpoint Agencies, Johannesburg, Gauteng, SA.
09/02/2006: Hubertus ‘Hub’ Bijsterveld (b. 11/12/1932), Bata Zimbabwe and other Bata companies, Gweru, Zimbabwe.
10/02/1997: Don Craig, Cape Knife, Cape Town, W. Cape, SA.
11/02/2009: Frederick Bernard Cattell (b. 17/08/1917), Cattell’s, Springs, Gauteng, SA.
14/02/2004: Brian Matkovich (b. 06/02/1941), Futura Footwear, Pinetown, KZN, SA.

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.

 

Exchange rates

1. SA Rand (ZAR)/Lesotho Loti (LSL)/Namibian Dollar (NAD)/Swazi Lilangeni (SZL)

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

 
  Euro € GBP £ US $ CNY ¥
2020/12/05 R18.42 R20.42 R15.20 R2.32
2020/12/12 R18.34 R20.03 R15.14 R2.31
2020/12/19 R17.81 R19.65 R14.53 R2.22
2020/12/26 R17.80 R19.68 R14.59 R2.23
2021/01/02 R17.95 R20.08 R14.68 R2.24
2021/01/09 R18.69 R20.74 R15.29 R2.36
2021/01/16 R18.39 R20.68 R15.22 R2.34
2021/01/23 R18.42 R20.71 R15.14 R2.33
2021/01/30 R18.40 R20.78 R15.16 R2.35
2021/02/06 R17.88 R20.38 R14.84 R2.29

Note: For previous rates, see HERE

 


2. Botswana Pula (BWP)

Source: https://www.xe.com/currencyconverter/

 
  Euro € GBP £ US $ CNY ¥
2020/12/05 13.36 14.81 11.02 1.68
2020/12/12 13.27 14.50 10.96 1.67
2020/12/19 13.21 14.58 10.78 1.65
2020/12/26 13.19 14.58 10.81 1.65
2021/01/02 13.17 14.75 10.79 1.65
2021/01/09 13.19 14.63 10.79 1.66
2021/01/16 13.29 14.93 10.99 1.69
2021/01/23 13.33 14.99 10.95 1.69
2021/01/30 13.37 15.10 11.02 1.71
2021/02/06 13.23 15.08 10.98 1.69


3. Malawian Kwacha (MWK)

Source: https://www.xe.com/currencyconverter/

 
  Euro € GBP £ US $ CNY ¥
2020/12/05 926.76 1027.46 764.52 117.04
2020/12/12 925.52 1010.82 764.06 116.73
2020/12/19 939.48 1036.81 766.84 117.34
2020/12/26 938.70 1037.73 769.62 117.63
2021/01/02 941.20 1053.64 770.57 118.00
2021/01/09 944.79 1048.60 772.99 119.37
2021/01/16 934.87 1050.81 773.46 119.35
2021/01/23 940.27 1057.01 772.53 119.19
2021/01/30 934.58 1055.41 770.00 119.79
2021/02/06 935.16 1066.25 776.26 120.04


4. Zambian Kwacha (ZMW)

Source: https://www.xe.com/currencyconverter/

 
  Euro € GBP £ US $ CNY ¥
2020/12/05 25.60 28.38 21.12 3.23
2020/12/12 25.61 27.98 21.14 3.23
2020/12/19 25.94 28.63 21.18 3.24
2020/12/26 25.81 28.53 21.16 3.23
2021/01/02 25.85 28.94 21.17 3.24
2021/01/09 26.02 28.87 21.28 3.28
2021/01/16 25.84 29.04 21.38 3.29
2021/01/23 26.01 29.24 21.37 3.29
2021/01/30 26.07 29.44 21.48 3.34
2021/02/06 25.98 29.62 21.57 3.33



5. Zimbabwean Dollar (ZWL$)

Source: https://www.xe.com/currencyconverter/

 
  Euro € GBP £ US $ CNY ¥ Official US$
2020/12/05 438.69 486.36 361.90 55.40 81.87
2020/12/12 438.38 478.79 361.90 55.29 81.85
2020/12/19 443.37 489.30 361.90 55.37 81.73
2020/12/26 441.40 487.97 361.90 55.31 81.78
2021/01/02 442.03 494.84 361.90 55.88 81.78
2021/01/09 442.33 490.92 361.90 55.88 81.78
2021/01/16 437.42 491.67 361.90 55.84 82.09
2021/01/23 440.48 495.16 361.90 55.83 82.08
2021/01/30 439.25 496.03 361.90 56.30 82.67
2021/02/06 435.97 497.09 361.90 55.96 83.37

 

 

 

 

ABSA Agri Trends: Hides & skins prices

Johannesburg, Gauteng, SA (February 03, 2021) - The current average hide price decreased by 3.0% to R4.04/kg from R4.16/kg a week ago. The current price is 1.2% lower than the average price a month ago and is 192.9% higher than the average price a year ago. Lower slaughter numbers are still supporting hide prices although the upward trend has lost some momentum in the past week. NB* Hide prices are determined by the average of the RMAA (Red Meat Abattoir Association) and independent companies. - Abrie Rautenbach, head Absa agribusiness, Marlene Louw, senior agricultural economist, and Paige Bowen, agricultural economist, Absa group.

Hide & skin price progression
Date Hides/Kg Dorper/Skin Merino Skin
2020/11/06 2.36 26.00 44.00
2020/11/13 2.38 23.59 40.00
2020/11/20 2.69 35.00 50.00
2020/11/27 3.08 36.00 49.00
2020/12/04 3.65 34.03 49.00
2020/12/11 3.68 33.21 50.83
2020/12/18 3.93 32.59 51.67
2021/12/25 4.08 34.39 51.67
2021/01/01 3.93 34.03 54.00
2021/01/08 3.88 31.43 46.43
2021/01/15 4.03 31.43 46.43
2021/01/22 4.16 30.00 47.00
2021/01/29 4.04 33.05 50.83
Note: For previous prices, see HERE
 

  

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:
Danyaal Clothing & Shoes, Rustenburg, N.W. Province, SA. Men's outfitter.
Dapper Streetwear, Johannesburg, Gauteng, SA. Men's outfitter.

 


Classified Adverts




Distributor seeks manufacturers

Zellie Footwear is a distributing company looking for factories that can manufacture PVC/jelly shoes.
      We are also looking for factories that can manufacture genuine leather shoes for men and women.
      Please contact Zel van der Walt, 079 104 5842, azellemouton1@icloud.com

 




Design department manager seeks post

Devrajah (Teddy) Moodley, who had 31 years' experience with Michelle Footwear and was design department manager, followed by 2 year with Caprini Footwear as technical manager, seeks employment. He is prepared to relocate outside of Durban if required.       A full CV, including references from both companies, is available. Please reply to 083 280 6915, moodleyteddy8@gmail.com

 




Contact us

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

Next newsletter: Feb 15, 2021.

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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