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S&V Weekly Newsletter Vol.8 No.32, August 8 2022

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

 

Crime

Labora staff member jailed for fraud

Durban, KZN, SA - A former Labora Shoes HR manager, Lucy Maistry, has been sentenced to 6 years in prison for stealing R5.1 million over several years, according to a report in The Rising Sun newspaper, Chatsworth, on 02 August. The report said she had oversight over the payroll system, and the payment of wages for 4 companies.

 

Armed robbery - in a mall

Benoni, Gauteng, SA - An armed gang raided a branch of lifestyle mini-chain Crossover in the Lakeside Mall, at midday on a weekday.
      Member Hashim Ismail wrote: "Yes we had a robbery on 21 July. 15 guys entered the store, held everyone at gunpoint. My staff chased after them. Thank God, they managed to get most of the stock back. One of my guys got shot, but he is fine. They only got away with 1 small bag of clothes."

 

 

Retail

Combination of circumstances lead to gloomy outlook

Johannesburg, Gauteng, SA - School uniform specialist and family footwear retailer Ebson's was one of the Gauteng retailers looted last year, and following that, member Basheer Seedat was ill with Covid. The upshot of those events was that Ebson's closed 3 of its 4 stores, and is now trading only in school uniforms, he said.
      However, he said the store traded well in January and February. Winter stock arrived late, and July trade was slow. He hasn't decided yet whether to go back into fashion footwear.

Vaal Triangle, Gauteng, SA - A men's outfitter and family footwear retailer, who preferred anonymity, said: "Business is volatile and unpredictable, and we can't forecast. We normally prep for month end, but in July we had a better 22nd and 23rd than 29th and 30th.
      "South Africa as a whole is battling, but the Emfuleni Local Municipality is absolutely corrupt, which means very poor service delivery and deteriorating infrastructure. Many local manufacturing businesses are relocating - to DA-run Meyerton, which is nearby, or further. The smart money is moving to the Western Cape.
      "This area has been deteriorating for a long time. Turnover in December 2019 was half of previous years, so you couldn't blame Covid. Since then, however, the Covid grants have kept this area - and our business - alive.
      "We've been in the same premises since 1981, near a taxi rank, with a big customer base, so our turnover is still acceptable, but we're not really profitable anymore. We have to put money into the business from time to time, and when we do have a surplus, we have to keep it in the business in case of shortfalls. We replenish as we need, make sure we have core items during the season, and we don't commit to future orders
      "Our consumers are from townships, typically over 45, and looking for footwear from Bolton and Eddels, and they don't have much disposable income. Social media don't work for them. For 3 years, we've offered half price discounts on our Facebook page for Black Friday - since our margins are typically 30% to 40%, that's below cost - and we didn't get a single response. Younger consumers will shop at chains - which, by the way, are now competing on price with independents, or buy counterfeit from foreigners, who get away with it because they bribe the police. Only the foreigners can now really operate in the CBD.
      "We have so much stock that we're basically chained to the business, but I'm looking at opening a second, smaller store in a mall, and seeing how that goes."

 

 

Stock Exchange News Service (SENS)

Massmart - trading update

Flat

Johannesburg, Gauteng, SA (Tue 02 August 2022, 8.12) – Total group sales for the 26-week period ended 26 June 2022, amounted to R41.3 billion, being broadly in line with the same period last year.
     Total South African store sales for the 26-week period, which continue to be impacted by stores damaged in the July 2021 civil unrest remained flat, while comparable stores sales increased by 2.4%. Total sales, measured in Rands, from our Rest of Africa stores for the 26-week period increased by 1.6%, with comparable store sales increasing by 1.3%. When measured in constant currency, total sales for our Rest of Africa stores decreased by 2.6%, with comparable store sales decreasing by 2.9%.
     The combination of the aforementioned factors namely; lower margin, once-off lease exit settlement cost and increased finance costs, has negatively impacted earnings. Massmart therefore expects, with a reasonable degree of certainty, that total earnings and headline earnings on a continuing basis, which excludes the Cambridge, Rhino and Massfresh businesses will be within the ranges reflected below:
     Total group - expected June 2022 *HEPS (cents) - (420.5) to (450.3) *Basic EPS (cents) - (483.9) to (534.1). Continuing operations *HEPS (cents) - (409.1) to (425.7) *Basic EPS (cents) - (406.5) to (443.1)
     Massmart’s financial results for the 26-week period to 26 June 2022 will be released to the market on 29 August 2022.

 

Manufacturing

Leather fashion accessories business in San Diego, California, with SA origins, seeks SA buyer

Pretoria, Gauteng, SA – This goes to show the interconnectedness of everything - Laurence Bloch matriculated with me from Selborne College, East London, E. Cape, SA in 1970. (Stop gasping. We're not THAT old.)
     At university he did leather crafting as a hobby on the side  and went on to create a manufacturing business in the US.
     After 39 years he'd like to retire, and he wonders if a South African leather manufacturer or crafter might like to buy Leatherock International.
     Laurence is a straight-up guy, even if he does speak with a foreign accent these days. I can probably put interested parties in touch with our former teacher and our head boy for references!
     The Leatherock website tells the story very well, and these are his details: Laurence Bloch, President, Leatherock International Inc., 7949 Silverton Ave., Suite 901, San Diego, CA 92126, USA. Tel. +1-619-299-7625, Cell +-619-549-7242, Laubloch@gmail.com , www.Leatherock.com

 

In case you missed it!

The August issue of S&V African Leather Magazine

S&V African Leather Magazine Vol16 No8 August 2022

 

IN THIS ISSUE:

03 Upfront
- A new quip from Sam Setter in each issue.
- COP 19: Preparation is the key, says Pieter Swart of the SA Taxidermy & Tannery Association.

05 An Eclectic View
- Wasserglas: Old technology with future potential? asks H. Procter.

08 Notice Board
- After a lifetime in the ostrich leather business, Frik Kriek of Cape Karoo International looks back on a remarkable career.

13 Sustainability
- Sustainable Leather Foundation founder and MD Deborah Taylor writes on the role of partner profiles and QR codes to create a truly holistic approach to sustainability for the whole leather value chain.

15 Weights & Measures
- Compiled by the ISTT.

16 Fairs & Conferences
- Tyson Foods to sponsor IULTCS Young Leather Scientist grant in 2023.
- III IULTCS EuroCongress Scientific Programme announced.
- Registration for AICLST conference in New Zealand underway.

17 Agriculture
- The unveiling of Niche Farmers: 'An Agri-TV series for every black man and woman dreaming of becoming a farmer.'
- 'Making the Cut': Karan Beef launches brand campaign.
- Despite some headwinds, the positive agri export environment is likely to continue in 2022, says FNB's Paul Makube.

20 Knowledge Transfer, Education & Training
- Making leather, Part 7 of 10: Small skins: hair sheep and goat: grain leathers, by Richard Daniels.



Advertisers in this Issue
Els Agencies (03), ISTT (OFC), Italtan (06), Mimosa (07), Rolfes Leather Division (02), S&V Calendar (01), S&V Directory (12), Southern African Footwear & Leather Export Council (SAFLEC) (04), SIMAC/Tanning Tech (09).

 

 

 

They Said It

"He's enjoying his money." - My Bolt taxi driver as we were overtaken by a Porsche travelling very fast and very noisily. Whether he said it in envy or contempt, I can't say. I lean towards the latter.

 

 

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

 

08/08/1950: Eldon Fortmann, retired, formerly Bagshaw, Port Elizabeth, E. Cape, SA.
08/08/1953: Doug Hawkey, John Whittle Components, Pinetown, KZN, SA.
08/08/1986: PG Needham, Needham Leather Goods, Pretoria, Gauteng, SA.
09/08/1988: Waseem Carrim, Bossini Collezione D'Italia, Rustenburg, N.W. Province, SA.
10/08/1951: Kevin Davidow, Nakara Leather, Namibia.
10/08/1963: Grant Hansen, Fusion Leather, Cape Town, W. Cape, SA.
10/08/1968: Julius Govender, Michelle Footwear, Durban, KZN, SA.
10/08/1971: Shane McEvoy, Dodo Shoes, Cape Town, W. Cape, SA.
11/08/1953: Andy Stern, Intershu, Johannesburg, Gauteng, SA.
13/08/1969: Clinton Hoar, XS Denim, Durban, KZN, SA.
11/08/1978: Natashia Singh, Palm Footwear, Durban, KZN, SA.

 

08/08/2010: Gareth Davies [b. 02/04/1945], Edgars group, retired, Johannesburg, Gauteng, SA.
08/08/2019: Ben Cartoon (b. 08/10/1946), Paris Belts, Johannesburg, Gauteng, SA.
09/08/2013: Daniël Bruwer (Stoffel) Matthis (b. 04/05/1934), SHALC and many meat industry bodies, Pretoria, Gauteng, SA.
09/08/2020: John Kellett (b. 25/10/1939), Durata Shoe Works [closed], Cape Town, W. Cape, SA.
09/08/2020: Suliman Mohamed Ahmed (b. 21/05/1949), Shoe Valley, Benoni, Gauteng, SA.
10/08/2006: Abdool Kader (AK) Seedat (b. 12/03/1933), agent, Durban, KZN, SA.
11/08/2011: Ken Riches (b. 15/07/1922), LIRI [closed], educator, Port Elizabeth, E. Cape, 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.

 

 

 

 

Directory entries updated last week

A&L Engravers & Die Sinkers cc, Cape Town, W. Cape, SA.
Buy-Rite, Alberton, Gauteng, SA.
Chommies [G&K Trading (Pty) Ltd, Vereeniging, Gauteng, SA.
JCP Workwear & Lifting cc, Richards Bay, KZN, SA.
Paramount Garment Works, Harare, Zimbabwe.
Pasadena Products cc, Roodepoort, Gauteng, SA.
Protea Leather Natal (Pty) Ltd, Tongaat, KZN, SA.
Safari Leather, Bulawayo, Zimbabwe.
Sheeva Footwear (Pvt) Ltd, Harare, Zimbabwe.

 

New subscribers last week

Dharshana Jogi. Atelier Jogi, Harare, Zimbabwe.
Ray Oosthuizen, semi-retired consultant, George, W. Cape, SA.
Nevan Pillay, Bader SA, Pretoria, Gauteng, SA.
Guido Griffin, Cape Karoo International, Oudtshoorn, W. Cape, SA.
Nizam, Braggy investments, Johannesburg, Gauteng, SA.

 

Exchange rates

Note: For previous rates, see HERE

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

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

 
  Euro € GBP £ US $ CNY ¥
06/08/22 R17.08 R20.25 R16.78 R2.48
 


2. Botswana Pula (BWP)

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

 
  Euro € GBP £ US $ CNY ¥
06/08/2022 12.84 15.23 12.62 1.86


3. Malawian Kwacha (MWK)

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

 
  Euro € GBP £ US $ CNY ¥
06/08/2022 1042.78 1236.48 1024.26 151.58


4. Zambian Kwacha (ZMW)

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

 
  Euro € GBP £ US $ CNY ¥
06/08/2022 16.39 19.44 16.10 2.38



5. Zimbabwean Dollar (ZWL$)

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

 
  Euro € GBP £ CNY ¥ Official US$
06/08/2022 368.44 436.88 53.55 465.39
 

Note: For previous rates, see HERE

 

 

 

 

 

ABSA Agri Trends: Hides & skins prices

Johannesburg, Gauteng, SA (08 August 2022) - The current average hide price decreased slightly by 0.5% to R4.10/kg from R4.12/kg a week ago. The current price is 0.3% lower than the average price a month ago and is 50% lower than the average price a year ago. The range of prices reported was as follows: Minimum price: R4.00 Maximum price: R5.00. Please note: 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.

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:
Health Wise, East London, E. Cape, SA. Comfort footwear retailer.
Heart & Soul, Knysna, W. Cape, SA. Women's boutique.

 

Contact us

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

Next newsletter: August 15, 2022.

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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