S&V Weekly Newsletter Vol.7 No.40, October 4 2021
This Newsletter is sponsored by SAFLIA
Please note: Click on any ad to go to the advertiser’s website
Trading
Kingon's: Deliveries still a problem
East London, E. Cape, SA – "Trading remains very poor," said Mark Kingon, managing member of department store Kingon's. "We're still 20% to 30% down on our 2019 levels. We're equalling last year's figures. when we were closed so much of the time, but we don't seem to be able to get traction.
"However, we are still trading, we're still getting customers coming in and buying what they should be buying, but they're few and far between."
He said Kingon's had, cut back on most of its buy, but "because the supply has been so erratic, in some areas we haven't cut back at all because we're desperate for stock. For example, chino trousers for last summer arrived in February.
"I'm hoping deliveries for this Christmas will be much better."
Burton's: 'We'll have to work even harder for sales'
Cape Town, W. Cape, SA – Trade is "more or less at the same level as last year - maybe slightly up - and definitely still down on 2019", said Jillian Allen, whose Burton's and Monson's stores specialise in comfort footwear.
"I think it's mostly because people are short of money at the moment," she said. "Another factor is that shopping habits have changed, and there hasn't been a total return to the malls, although that is easing up."
With a fairly small supplier base selling mainly imported footwear, she hasn't changed her buy much. Deliveries have been pushed out, "but it hasn't had much of an influence on us".
"Summer has come very late to the Cape - 6 to 8 weeks behind Gauteng. It's not easy selling sandals when it's 17°C outside."
An issue which concerns her is being treated fairly by suppliers. "It's not easy getting exclusivity in this business. Brands have their own online sales, and on top of that, brands which sell clearing lines to chains aren't treating their smaller customers, who pay full price, fairly. The chains sell the brand for half of what we do, and the end consumer doesn't understand or care about clearing lines."
Christmas trading isn't as significant for comfort retailers, but she said she was hoping for a reasonable December.
"I'm not being a pessimist, but we've got a hard ride ahead of us. We'll have to work even harder for sales."
Zim black market inflation 'soaring'
I received 2 WhatsApp messages from a reader in Zimbabwe yesterday, the first shortly after midday, the second in the late afternoon.
[12:18, 03/10/2021]: Today's currency rate (black market) USD1:ZWL160 and forecast to hit 200:1 by December. Whatever the authorities say, supermarkets are using parallel rates when they set selling prices as many have to supplement their import payments by buying from the black market.
[17:32, 03/10/2021]: Breaking news. Rate now 1:170
Stock Exchange News Services (SENS)
Steinhoff Investment - sanction hearing update
For the full article, go to http://www.sharedata.co.za/v2/Scripts/News.aspx?c=SHFF&sensid=397861
Stellenbosch, W. Cape, SA (30 September 2021) – Steinhoff International Holdings N.V. informs market participants that the sanction hearing to approve Steinhoff International Holdings (Pty) Ltd.’s (SIHPL) settlement proposal has been deferred from 30 September 2021 to a date still to be confirmed by the Western Cape High Court as a result of opposition applications.
Following the overwhelming support in the creditors’ meetings held on 6th and 10th September 2021 in which over 8,500 claimants representing approximately R91.7 billion of claims voted in favour of the Proposal, with no votes against, SIHPL had applied for the sanction hearing for the Proposal to be heard as a matter of urgency by the Court on 30 September 2021.
The Court has received intervention and opposing applications from Trevo Capital Ltd., a Mauritian entity associated with the former CEO of Pepkor Holdings Ltd., Mr Erasmus, and the trustees of Sport City Trust and AJVH Holdings (Pty) Ltd., both of which are associated with the former owners of Tekkie Town, and an individual, Mr Lamprecht.
In addition, an intervention application in support of SIHPL’s sanction application has been received from Deloitte SA.
SIHPL will oppose all of the opposing applications as it continues to work towards implementing the Proposal that has achieved the overwhelming support of so many claimants and so that those claimants can receive the settlement consideration as soon as possible under the terms of the Proposal.
In view of the recent filings, the Court concluded today that the Section 155 sanction application could no longer be heard within the timetable of the Court’s urgent schedule. The Court granted an Order removing the application from the urgent roll, and directing the parties to approach the case managing Judge next week. Given the continuing urgency to have the Proposal sanctioned, SIHPL will request that the Court set an expedited timetable for the hearing of the sanction application. The Company will provide an update once the date for the hearing is known.
Rex Trueform final results June 2021
For the full article, go to http://www.sharedata.co.za/v2/Scripts/News.aspx?c=RTO&sensid=397923
Cape Town, W. Cape, SA (30 September 2021) – Revenue for the year decreased by 17.1% to R491.4 million (2020: 592.5 million) and gross profit was 11.5% lower at R242.5 million (2020: R274 million). Operating profit recovered to R50.1 million (2020: loss of R73.8 million).
The group anticipates that the current economic environment will remain challenging.
The retail business segment has a strong brand in a niche market. Queenspark launched its own online sales platform in June 2020. Existing and new brands will be continually assessed with the intention of providing customers with a portfolio which caters for their changing needs during this time. Cash preservation and liquidity will continue to be a top priority.
Rex Trueform's other activities are in property, water and sanitation, and media and broadcasting.
Woolworths credit rating
Cape Town, W. Cape, SA (01 October 2021) – Woolworths Holdings Ltd's credit rating has been revised upwards, with effect from 30 September, by S&P Global Ratings, according to a SENS announcement. It has gone from ZaA- to ZaA+ "on a long term national scale basis" .
Death notices
Blantyre, Malawi – Iqbal Hajat, founder of Footwear Centre, sent this email this morning about his son, and the person running Footwear Centre, Rafiq Hajat: "Really sorry to have to inform you that Rafiq passed away from a major heart attack three weeks ago. I will be covering for him in terms of the footwear business." Rafiq was 66.
I learnt today that 2 retired South African footwear people, Graham Gradwell of Studio Shoes in Port Elizabeth, E. Cape, and Michael Lashbrooke of Lashbrooke Agencies, Cape, Town, W. Cape, have died. I don't yet have dates of death, but I was told that Gradwell died the day before his 90th birthday.
They Said It
This week it's all about age, partly in reaction to the article on recent octogenarian Saag Jonker in the September edition of S&V African Leather, who has no intention of retiring or even slowing down.
"No worries, Tony. Superman has powers." - Saag's son Niel Jonker. I had quoted him as saying his father could spot a sick ostrich chick at 500 m. He asked me to change that to 100 m, and when I told him it was too late, he came out with that line.
"Having given much careful thought to your request for an article, I have come to the conclusion that it's time for me to retire." - Athol Pratt of Techtan, Pretoria, Gauteng, who turned 77 this year. "Unfortunately, I'm no Saag Jonker!"
"I've just turned 79. I'm getting a bit tired." - Mike Beattie, Tina's Shoes, Port Elizabeth, E. Cape, SA, in conversation with Bruce Wilson of Hotter Comfort Concept SA, who replied cheerfully: "You retire, you die."
In case you missed it!
The latest issue of S&V African Leather Magazine features a series of articles on Saag Jonker - The man at the centre of the ostrich industry
S&V AFRICAN LEATHER MAGAZINE VOL15 NO9 SEPTEMBER 2021
IN THIS ISSUE:
3 Sam Setter's Pills
- A new quip from Sam Setter in each issue.
03 An Eclectic View
- H. Proctor writes about Zeolites, an option for tanners thinking of the circular economy.
06 Tanning Science Decoded
- Use of chrome leather shavings as a cement retarder shows promise, writes the ISTT's Dr Clive Jackson-Moss.
09 Automotive Leather
- Newly renamed Pangea - formerly Seton in SA and GST AutoLeather in the U.S. - "is rethinking how to do leather".
10 Game Skins and Taxidermies
- SA Taxidermy & Tannery Association (SATTA) has joined the Sustainable Use Coalition, a group of hunting- and game farming-orientated NGOs which aims to counter international anti-hunting campaigns.
13 Exotic Leathers
- Exotic Leather Research director Prof. Gerry Swan has retired.
- The man at the centre of the ostrich industry - Saag Jonker - has turned 80, but shows no sign of slowing down. Various people close to him give their views on what makes him tick.
19 Agriculture
- Agricultural exports are set to reach record levels, the FNB's Dawie Maree explains.
20 Weights & Measures
- Compiled by the ISTT.
21 Trade Fairs & Academic Conferences
- The IULTCS selects Dr T Ramasami as recipient of its 2021 Merit Award.
- The IULTCS announces its 2022 Young Leather Scientist grant programme.
Advertisers in this Issue
AllFashion Sourcing (below), ISTT (02), Italtan (11), Mimosa (05), Rolfes Leather Division (08), Pangea (OFC), S&V Calendar (07), S&V Directory (22), Southern African Footwear & Leather Export Council (SAFLEC) (15), Stahl (12),.
Training cluster to close
Groot Brak River, W. Cape, SA – The Southern Cape Regional Footwear Cluster (SCRFC), which has been coordinating training activities for the entities which supply Bolton Footwear's Grasshoppers footwear, will be closing its doors in November, according to an email notification last week. No reason was given.
Directory and Calendar updates
The S&V Directory and the S&V Calendar are dynamic documents, undergoing ongoing constant updating. Readers are therefore advised to refer to them at least once a week.
Got anything you'd like to share?
Do you have any suggestions, comments or experiences about the industry that you'd like to share with the industry? - tony@svmag.co.za
04/10/1939: Basil Tannenbaum, XLNT Agencies, Johannesburg, Gauteng, SA.
06/10/1998: Devan Kriel, Vellie Boutique, Boksburg, Gauteng, SA.
07/10/1969: Gunnar Halbich, Paul Moeller & Co, Cape Town, W. Cape, SA.
08/10/1970: Sharon Bekker, Prima Style, Cape Town, W. Cape, SA.
08/10/1943: Willie van Vuuren, Fergom (SA), Southport, KZN, SA.
08/10/1973: Robert O'Connell, Bader SA, Pretoria, Gauteng, SA.
09/10/1946: Yunus Nagdee, agent, Johannesburg, Gauteng, SA.
09/10/1948: Ibrahim Shaikh, Hopewell Footwear, Durban, KZN, SA.
09/10/1957: RE Badenhorst, Vrystaat Huide & Velle, Kroonstad, Free State, SA.
09/10/1961: Richard Kushlick, Unique Feet, Johannesburg, Gauteng, SA.
09/10/1971: Phoenix Wang, San Chang Import & Export, Estcourt, KZN, SA.
10/10/1943: Jamloot Bhagwandeen, retired, formerly Dick Whittington Shoes, Pietermaritzburg, KZN, SA.
10/10/1950: Allen Beckley, Naked Feet, Durban, KZN, SA.
10/10/1951: Paul Muir, Pasacojo Marketing, Cape Town, W. Cape, SA.
10/10/1968: Luke Barrett-Smith, Puma SA, Cape Town, W. Cape, SA.
10/10/1969: Nicole Benders, Prime Leathers, Pinetown, KZN, SA.
In Memoriam this week
06/10/2016: Ernie Aaron (b. 21/05/1922), agent, Durban, KZN, SA.
08/10/2011: Johannes Antonius Olde-Olthof (b. 11/10/1928), Tarzan Shoes, Tulbagh, W. Cape, SA.
08/10/2017: Michael Piccione (b. 27/03/1963), KMP Footwear, Pinetown, KZN, SA.
09/10/2015: Barry Furber, Furber & Whittle [closed], Cape Town, W. Cape, SA.
09/10/2015: Steve Croudace (b. 22/06/1958), Leatherback Footwear, Pietermaritzburg, 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 ¥ |
| 2021/06/26 |
R16.88 |
R19.63 |
R14.14 |
R2.19 |
| 2021/07/03 |
R16.91 |
R19.70 |
R14.25 |
R2.20 |
| 2021/07/12 |
R17.04 |
R19.91 |
R14.35 |
R2.21 |
| 2021/07/17 |
R17.02 |
R19.85 |
R14.42 |
R2.22 |
| 2021/07/24 |
R17.48 |
R21.41 |
R14.85 |
R2.29 |
| 2021/07/31 |
R17.33 |
R20.30 |
R14.60 |
R2.26 |
| 2021/08/09 |
R17.33 |
R20.45 |
R14.76 |
R2.27 |
| 2021/08/14 |
R17.37 |
R20.42 |
R14.72 |
R2.27 |
| 2021/08/21 |
R17.88 |
R20.82 |
R15.28 |
R2.35 |
| 2021/08/28 |
R17.35 |
R20.24 |
R14.71 |
R2.27 |
| 2021/09/04 |
R17.00 |
R19.83 |
R14.31 |
R2.21 |
| 2021/09/13 |
R16.72 |
R19.61 |
R14.18 |
R2.19 |
| 2021/09/18 |
R17.28 |
R20.25 |
R14.74 |
R2.27 |
| 2021/09/27 |
R17.57 |
R20.60 |
R15.03 |
R2.32 |
| 2021/10/30 |
R17.24 |
R20.14 |
R14.87 |
R2.30 |
Note: For previous rates, see HERE
2. Botswana Pula (BWP)
Source: https://www.xe.com/currencyconverter/
| |
Euro € |
GBP £ |
US $ |
CNY ¥ |
| 2021/06/26 |
12.97 |
15.09 |
10.87 |
1.68 |
| 2021/07/03 |
12.95 |
15.09 |
10.91 |
1.68 |
| 2021/07/12 |
12.96 |
15.15 |
10.92 |
1.68 |
| 2021/07/17 |
12.95 |
15.11 |
10.97 |
1.69 |
| 2021/07/24 |
13.06 |
15.25 |
11.09 |
1.71 |
| 2021/07/31 |
13.20 |
15.47 |
11.12 |
1.72 |
| 2021/08/09 |
12.99 |
15.33 |
11.06 |
1.70 |
| 2021/08/14 |
13.12 |
15.43 |
11.13 |
1.71 |
| 2021/08/21 |
13.25 |
15.42 |
11.32 |
1.74 |
| 2021/08/28 |
13.23 |
15.44 |
11.22 |
1.73 |
| 2021/09/04 |
13.04 |
15.21 |
10.97 |
1.70 |
| 2021/09/13 |
12.89 |
15.11 |
10.93 |
1.69 |
| 2021/09/18 |
12.97 |
15.19 |
11.06 |
1.71 |
| 2021/09/27 |
13.03 |
15.28 |
11.15 |
1.72 |
| 2021/10/03 |
13.10 |
15.31 |
11.30 |
1.75 |
3. Malawian Kwacha (MWK)
Source: https://www.xe.com/currencyconverter/
| |
Euro € |
GBP £ |
US $ |
CNY ¥ |
| 2021/06/26 |
961.88 |
1118.55 |
805.90 |
124.84 |
| 2021/07/03 |
958.45 |
1116.77 |
807.73 |
124.79 |
| 2021/07/12 |
952.21 |
1112.73 |
802.19 |
123.93 |
| 2021/07/17 |
955.84 |
1115.17 |
809.54 |
124.94 |
| 2021/07/24 |
955.43 |
1115.52 |
811.65 |
125.23 |
| 2021/07/31 |
965.02 |
1130.54 |
813.06 |
125.83 |
| 2021/08/09 |
957.51 |
1129.86 |
815.31 |
125.70 |
| 2021/08/14 |
960.30 |
1129.20 |
814.20 |
125.70 |
| 2021/08/21 |
952.51 |
1109.03 |
814.07 |
125.21 |
| 2021/08/28 |
960.60 |
1120.84 |
814.43 |
125.84 |
| 2021/09/04 |
967.79 |
1129.03 |
814.44 |
126.20 |
| 2021/09/13 |
958.66 |
1124.28 |
813.16 |
125.99 |
| 2021/09/18 |
952.25 |
1115.55 |
811.98 |
125.57 |
| 2021/09/27 |
952.23 |
1115.80 |
814.43 |
126.03 |
| 2021/10/03 |
947.33 |
1106.94 |
817.21 |
126.78 |
4. Zambian Kwacha (ZMW)
Source: https://www.xe.com/currencyconverter/
| |
Euro € |
GBP £ |
US $ |
CNY ¥ |
| 2021/06/26 |
27.04 |
31.46 |
22.66 |
3.51 |
| 2021/07/03 |
26.95 |
31.40 |
22.71 |
3.50 |
| 2021/07/12 |
26.89 |
31.42 |
22.65 |
3.49 |
| 2021/07/17 |
26.73 |
31.18 |
22.64 |
3.49 |
| 2021/07/24 |
24.77 |
28.92 |
21.04 |
3.24 |
| 2021/07/31 |
22.91 |
26.84 |
19.30 |
2.98 |
| 2021/08/09 |
22.63 |
26.70 |
19.27 |
2.97 |
| 2021/08/14 |
22.83 |
26.85 |
19.36 |
2.98 |
| 2021/08/21 |
22.20 |
25.85 |
18.97 |
2.91 |
| 2021/08/28 |
18.81 |
25.95 |
15.94 |
2.46 |
| 2021/09/04 |
19.22 |
22.43 |
16.18 |
2.50 |
| 2021/09/13 |
19.21 |
22.53 |
16.29 |
2.52 |
| 2021/09/18 |
19.29 |
22.59 |
16.44 |
2.54 |
| 2021/09/27 |
19.37 |
22.70 |
16.56 |
2.56 |
| 2021/10/03 |
19.48 |
22.77 |
16.81 |
2.60 |
5. Zimbabwean Dollar (ZWL$)
Source: https://www.xe.com/currencyconverter/
| |
Euro € |
GBP £ |
US $ |
CNY ¥ |
Official US$ |
| 2021/06/26 |
431.93 |
502.29 |
361.90 |
56.06 |
85.36 |
| 2021/07/03 |
429.42 |
500.36 |
361.90 |
55.91 |
85.42 |
| 2021/07/12 |
429.43 |
501.85 |
361.90 |
55.90 |
85.50 |
| 2021/07/17 |
427.41 |
498.50 |
361.90 |
55.85 |
85.50 |
| 2021/07/24 |
426.00 |
497.38 |
361.90 |
55.83 |
85.63 |
| 2021/07/31 |
429.54 |
503.21 |
361.90 |
56.00 |
85.64 |
| 2021/08/09 |
424.85 |
501.36 |
361.90 |
55.79 |
85.72 |
| 2021/08/14 |
426.81 |
501.91 |
361.90 |
55.87 |
85.74 |
| 2021/08/21 |
423.44 |
493.02 |
361.90 |
55.66 |
85.82 |
| 2021/08/28 |
426.85 |
498.05 |
361.90 |
55.92 |
85.90 |
| 2021/09/04 |
430.04 |
501.69 |
361.90 |
56.07 |
86.05 |
| 2021/09/13 |
426.71 |
500.48 |
361.90 |
56.08 |
86.21 |
| 2021/09/18 |
424.42 |
497.19 |
361.90 |
55.96 |
86.30 |
| 2021/09/27 |
423.13 |
495.86 |
361.90 |
56.01 |
|
| 2021/10/03 |
419.52 |
490.20 |
361.90 |
87.66 |
|
ABSA Agri Trends: Hides & skins prices
Johannesburg, Gauteng, SA (30 September 2021) - The current average hide price decreased by 28% to R6.40/kg from R8.89/kg a week ago. The current price is 34.7% lower than the average price a month ago and is 327% higher than the average price a year ago. The range of prices reported was as follows: Minimum price: R6.25 Maximum price: R7.55 Please note, we have changed our methodology and price levels are not directly comparable to previous prices that we reported on. Our methodology weighs the prices we collect according to the number of hides they sell in a month. This is done to make it more representative of the prevailing market price. NB* Hide prices are determined by the average of the RMAA (Red Meat Abattoir Association) and independent companies. - Marlene Louw, senior agricultural economist, and Nkhensani Mashimbyi, 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 |
| 2021/02/05 |
3.86 |
31.41 |
45.71 |
| 2021/02/12 |
4.33 |
35.46 |
45.83 |
| 2021/02/19 |
4.29 |
34.49 |
50.00 |
| 2021/02/26 |
4.94 |
34.70 |
47.50 |
| 2021/03/05 |
5.67 |
38.33 |
51.67 |
| 2021/03/12 |
4.80 |
42.50 |
59.17 |
| 2021/03/19 |
4.99 |
35.74 |
52.86 |
| 2021/03/26 |
6.33 |
35.16 |
55.00 |
| 2021/04/02 |
6.50 |
31.83 |
49.00 |
| 2021/04/16 |
8.98 |
37.44 |
50.00 |
| 2021/04/22 |
8.37 |
|
|
| 2021/04/29 |
8.98 |
40.96 |
62.00 |
| 2021/05/06 |
7.56 |
40.96 |
62.00 |
| 2021/05/24 |
7.82 |
40.83 |
61.67 |
| 2021/05/28 |
7.47 |
|
|
| 2021/06/14 |
8.34 |
40.83 |
61.67 |
| 2021/06/24 |
8.31 |
|
|
| 2021/07/02 |
8.25 |
42.21 |
66.00 |
| 2021/07/09 |
9.53 |
46.39 |
64.00 |
| 2021/07/16 |
8.17 |
39.00 |
61.00 |
| 2021/07/23 |
8.44 |
43.33 |
67.50 |
| 2021/07/30 |
7.57 |
39.00 |
61.00 |
| 2021/08/06 |
9.60 |
39.63 |
64.00 |
| 2021/08/12 |
9.93 |
|
|
| 2021/08/23 |
|
41.40 |
64.00 |
| 2021/09/09 |
9.78 |
|
|
| 2021/09/16 |
8.96 |
|
|
| 2021/09/23 |
8.89 |
|
|
| 2021/09/29 |
6.40 |
39.60 |
65.00 |
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:
Florsheim, Johannesburg, Gauteng, SA. Distributor.
Footgear, Cape Town, W. Cape, SA. Athleisure retailer.
Classified Adverts
Free State & Northern Cape agent
Corvari Footwear seeks an agent for the Free State and Northern Cape to market its Natural Steps and Angels ladies' brands and its Cobbles and Noodles infants' brands. Please reply to business@corvari.co.za, tel 031 700 3234.
Factory manager sought
A footwear factory in Pietermaritzburg is looking to employ a factory manager. The applicant must have at least 3 years of production experience in a managerial position, footwear experience will be beneficial. The applicant should have basic HR/IR knowledge and will be expected to manage a team of supervisors with a staff compliment of 130 employees. Interested persons to email CVs to application1945@gmail.com
Contact us
News & Classifieds: Tony Dickson, +27 (0)31 209 7505, tony@svmag.co.za
Next newsletter: October 11, 2021.
SAFLIA enquiries: Tel 0800SAFLIA * Email info@saflia.co.za * Website http://www.saflia.co.za
Our website www.svmag.co.za
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