S&V Weekly Newsletter Vol.9 No.37, September 11 2023
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Foreign investors sell SA apparel retail shares
According to an article in Moneyweb on 05 September, foreign investors have “dumped” shares in entertainment business MultiChoice Group and apparel retailers Mr Price Group and TFG Ltd.
It said the catalyst had been a quarterly review of indices by US investment advisor MSCI Inc., which had led to “an approximate outflow of R7 billion (US$360 million)”.
In response to a request for comment by S&V, TFG CEO Anthony Thunström wrote: “The South African consumer remains under significant pressure as a result of high cost of living increases, elevated interest rates and the negative effects of ongoing load-shedding. These conditions are likely to remain for the rest of this year but should start to ease in the new year.”
Mr Price Director of Investor Relations & Stakeholder Engagement, Matthew Warriner, said the issue “has already been widely covered over the past few weeks as the MSCI index quarterly changes took effect”.
BBF accuses Dromex of ‘crossing ethical line’, threatens legal action
Pinetown, KZN, SA - In a letter to customers dated 04 September, signed by CEO Brian Kuhnert, safety footwear manufacturer BBF Safety Group has accused competitor Dromex of “crossing an ethical line” by copying 2 of its best selling styles, the Sisi Reese and the Bova Neoflex. It says it is “considering the appropriate legal recourse against Dromex”.
More to follow.
Situation ‘unsustainable’
Peter Meinzer, Thiel’s Shoes
Windhoek, Namibia - Trading conditions this year so far show a positive growth monthly! Considering the increase in expenses, living costs, etc., there is still no balance between business and reality!
Namibia has an estimated population of 2.6 million. 43% of the population is experiencing multidimensional poverty!
1.6 million people live off grants/pension/feeding programmes (source: UN + Namibian Government), leaving a mere 1 million liquid people to keep the trading economy afloat.
To reach the trading peak of 2018 will still take a long time.
Customers have everything and too much. The quality of goods in general is declining and prices are climbing. Survival is the key word!
Pittards shuts
UK tannery and glove maker Pittards has closed following failed talks with a prospective buyer, according to a BBC report.
Most of the 135 staff at its Yeovile, Somerset plant have been made redundant.
According to the report, "Administrators are assessing options with regards to its Ethiopian business and are in discussions with local management in this regard". Pittards Ethiopia employs around 900 people.
They Said It
"What happened to Stage 6 when BRICS was in town?" - Headline from Daily Maverick article, which then went on to speculate that Eskom had used reserves of oil to keep the lights on and avoid embarrassment to the ANC.
New subscribers last week
Athanasia, Operations Manager, The Authentic Brands, Johannesburg, South Africa
Angie, Marketing Manager, Intershu, Gauteng, South Africa
Lindsay Slabbert, Business Analyst, Durban, KZN, South Africa
Lionel, Sydney, Australia
Heyzy, Sales, Mwah, Johannesburg, Gauteng, South Africa
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
Birthdays this week
11/09/1938: Roley Rogers, footwear agent, Johannesburg, Gauteng, SA.
12/09/1940: Tony Mason, retired, formerly Resolute Engineering [closed], Cape Town, W. Cape, SA.
12/09/1962: Silvio Ceriani, Jonsson Workwear, Durban, KZN, SA.
13/09/1958: Mark Gibbings, Pearson Trading, formerly Apeco (closed), Pinetown, KZN, SA.
14/09/1941: Rob Jordan, retired, formerly Jordan Shoes (now Bolton Footwear), Cape Town, W. Cape, SA.
14/09/1943: B Oerder, Bolt Leather, Bedfordview, Gauteng, SA.
14/09/1968: Nasser Narot, Shoe Preme, Durban, KZN, SA.
14/09/1983: Ridhwana Shaik, Save Our Soles Manufacturing, Lenasia, Gauteng, SA.
16/09/1965: Roy Feigenbaum, Superior PPE, Bramley, Gauteng, SA.
17/09/1944: Avril Goldstein, Daisy Roots, Balfour Park, Gauteng, SA.
In memoriam this week
11/09/1998: Harry Chafkin, Chafkin's Shoe Co, Benoni, Gauteng, SA.
11/09/2008: Robbie Chapman (b. 10/08/1957), Canterbury International SA [closed], Cape Town, W. Cape, SA.
12/09/2015: Ingo von Falkenhausen (b. 14/12/1931), Cheval Shoes, Pinetown, KZN, SA.
13/09/2015: Heinz Adrio (b. 19/08/1940), Busby Leathergoods, Adrio Leathercraft, Durban, KZN, SA.
13/09/2021: Robin Scott (b. 20/05/1935), retired, former director Scotts [closed], Durban, KZN, SA.
13/09/2021: Rafiq Hajat (b. 14/09/1955), Footwear Centre, Malawi.
14/09/2020: Graham Althorpe (b.17/04/1948), agent, East London, E. Cape, SA.
15/09/1995: Andy Bax, NPI, Durban, KZN, SA.
15/09/2013: Bruce Mallett (b.27/06/1952), Simply Shoes, Johannesburg, Gauteng, SA.
15/09/2014: Fred Eboru (b. 01/10/1947), Fred Footwear, Port Elizabeth, E. Cape, SA.
15/09/2016: Franco Polia (b. 01/01/1937), designer, Durban, 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.
Directory entries updated last week
Brits Leather Group: Brits Hides & Skins (Pty) Ltd, Brits, N.W. Province, SA.
Brits Leather Group: Brits Leathers (Pty) Ltd, Brits, N.W. Province, SA.
Brits Leather Group: OR Leather, Brits, N.W. Province, SA.
Brits Leather Group: Rosslyn Tannery [International Hide & Skin Traders (Pty) Ltd], Pretoria, Gauteng, SA.
Tekkie Town [Division of Pepkor Speciality (Pty) Ltd], George, W. Cape, SA.
Thiel’s Shoes, Windhoek, Namibia.
United Footwear, Kikuyu, Kiambu, Kenya.
 
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 ¥ |
| 05/08/2023 |
R20.34 |
R23.54 |
R18.46 |
R2.57 |
| 12/08/2023 |
R20.75 |
R24.08 |
R18.97 |
R2.61 |
| 19/08/2023 |
R20.76 |
R24.25 |
R19.06 |
R2.61 |
| 26/08/2023 |
R20.11 |
R23.43 |
R18.62 |
R2.56 |
| 02/09/2023 |
R20.30 |
R23.73 |
R18.84 |
R2.59 |
| 09/09/2023 |
R20.46 |
R23.84 |
R19.12 |
R2.60 |
2. Botswana Pula (BWP)
Source: https://www.xe.com/currencyconverter/
| |
Euro € |
GBP £ |
US $ |
CNY ¥ |
| 05/08/2023 |
14.71 |
17.03 |
13.35 |
1.86 |
| 12/08/2023 |
14.82 |
17.20 |
13.54 |
1.86 |
| 19/08/2023 |
14.82 |
17.32 |
13.61 |
1.86 |
| 26/08/2023 |
14.57 |
16.98 |
13.50 |
1.85 |
| 02/09/2023 |
14.54 |
16.99 |
13.49 |
1.85 |
| 09/09/2023 |
14.74 |
17.17 |
13.77 |
1.87 |
3. Malawian Kwacha (MWK)
Source: https://www.xe.com/currencyconverter/
| |
Euro € |
GBP £ |
US $ |
CNY ¥ |
| 05/08/2023 |
1187.80 |
1374.67 |
1078.26 |
15.41 |
| 12/08/2023 |
1190.28 |
1381.30 |
1088.12 |
150.87 |
| 19/08/2023 |
1176.05 |
1375.14 |
1079.90 |
148.30 |
| 26/08/2023 |
1162.63 |
1353.92 |
1076.75 |
147.94 |
| 02/09/2023 |
1157.71 |
1352.90 |
1074.37 |
147.96 |
| 09/09/2023 |
1161.95 |
1353.19 |
1085.47 |
147.93 |
4. Zambian Kwacha (ZMW)
Source: https://www.xe.com/currencyconverter/
| |
Euro € |
GBP £ |
US $ |
CNY ¥ |
| 05/08/2023 |
21.39 |
24.75 |
19.41 |
2.70 |
| 12/08/2023 |
21.11 |
24.50 |
19.30 |
2.65 |
| 19/08/2023 |
21.31 |
24.90 |
19.56 |
2.68 |
| 26/08/2023 |
21.34 |
24.86 |
19.76 |
2.71 |
| 02/09/2023 |
21.98 |
25.68 |
20.40 |
2.80 |
| 09/09/2023 |
22.27 |
25.94 |
20.80 |
2.83 |
5. Zimbabwean Dollar (ZWL$)
Source: https://www.xe.com/currencyconverter/
| |
Euro € |
GBP £ |
CNY ¥ |
Official US$ |
| 05/08/2023 |
398.66 |
461.38 |
50.48 |
4556.16 |
| 12/08/2023 |
398.88 |
459.38 |
49.86 |
4555.75 |
| 19/08/2023 |
394.21 |
460.61 |
49.70 |
4573.77 |
| 26/08/2023 |
390.73 |
455.26 |
49.74 |
4566.79 |
| 02/09/2023 |
389.97 |
455.67 |
49.84 |
4609.85 |
| 09/09/2023 |
387.33 |
451.17 |
49.32 |
4648.38 |
Note: For previous rates, see HERE
ABSA Agri Trends: Hides & skins prices
Johannesburg, Gauteng, SA (08 September 2023) - The average hide price decreased by 0.5% to R3.045/kg from R3.058/kg in the previous week. The current price is 0.5% lower than the average price a month ago and 34.4% lower than the average price a year ago. The range of prices reported was as follows: Minimum price: R2.68 Maximum price: R4.50. 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, and Zama Sangweni, 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:
Khalique’s (Pty) Ltd, Johannesburg, Gauteng, SA. Men’s outfitter.
Khasav cc, Durban, KZN, SA. Men’s and women’s boutique.
Contact us
News & Classifieds: Tony Dickson, +27 (0)31 209 7505, tony@svmag.co.za
Next newsletter: September 18, 2023.
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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