S&V Weekly Newsletter Vol.10 No.24, June 10 2024

Download PDF

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

Hi-Tec acquires Trappers Outdoor

Hi-Tec issued this press release on Friday.

Gary de Vogel (left) and John Black have a strong personal relationship, including climbing Kilimanjaro together last year.

Cape Town, W. Cape, SA – As we celebrate Hi-Tec’s 50th Birthday, we are proud to announce that Hi-Tec South Africa has successfully finalised a strategic investment in Trappers Outdoor Pty Ltd. This move marks a significant milestone in our journey, opening new avenues for growth and innovation within the market.
      Trappers will continue to be managed separately, and it's business as usual. However, with the backing and partnership of Hi-Tec South Africa, Trappers will now have a stronger foundation.
      Hi-Tec CEO Gary de Vogel and Trappers CEO John Black have a strong relationship, having both summited Kilimanjaro in August last year. Their commitment to exploring the outdoors and pushing their limits showcases the passion they both share for the industry. They plan to work closely together to ensure that both businesses receive the necessary resources and expertise to excel and thrive. Black and André Kruger will remain in their current positions and continue to drive the 47-year-old Trappers business forward.
      This acquisition reinforces both business’ commitment to offering the very best products and services to their customers. Together, we aim to drive an even greater impact in the outdoor/exploration market, leveraging our combined knowledge and experience. The brands Redback and Mac-in-a-Sac, previously imported by a subsidiary of Trappers, will now fall within the Hi-Tec South Africa company and management structure within the Trappers Outdoor (Pty) Ltd entity.
      We are excited to embark on this journey together and are confident that we will achieve success and build these brands to be even stronger.

Industry veteran heads Dangee Carken move into industrial footwear

Mark Silverman, who heads up Dangee Carken’s new industrial footwear division, issued this press release on Friday.

Johannesburg, Gauteng, SA – With three decades in the workwear industry, I have gained an in-depth understanding of my customers' needs and behaviours. This expertise enables me to customize my approach for each client, thus fostering enduring loyalty and consistent repeat business. My clients recognise me as a dependable advisor dedicated to their success.
      When Robby Stoller invited me to lead the safety division within Dangee | Carken Group, I was thrilled by the opportunity. The group boasts a strong reputation in leading fashion footwear and possesses technology and infrastructure that are truly impressive. With a passionate and enthusiastic team, I am confident our combined efforts will revolutionize the safety industry.

Hawks nab 7 officials for massive SARS border post fraud

Published in Fullview on Saturday: https://fullview.co.za/
The Directorate for Priority Crime Investigation (DPCI), also known as the Hawks, have pounced on 7 suspects involved in tax fraud more than R650 million.
      The suspects, who are former and current SARS customs employees, pretended to have cleared exports from the Durban port to Lesotho.
      An investigation found that over 300 textile cargo transactions were cleared, but the consignments were not moved at Ficksburg, Van Rooyenshek and Maseru border posts.
      The 4 women and 3 men were nabbed in Limpopo, Gauteng, Free State and Eastern Cape this week.
      "These workers have been investigated and found to have intentionally defrauded SARS by pretending or purporting to have cleared exports when in actual fact, that did not happen. Those exports were kept within the country," said SARS spokesperson Siphithi Sibeko.
      "5 of them were found guilty by the disciplinary committee of the South African Revenue Service and dismissed. 2 of those resigned before the matter could be decided."
      "The other 2, 1 was given a warning and others that are remaining, are still to face a disciplinary hearing."
      Suspects are expected to appear before the Ladybrand Magistrates' Court on Monday (today) on charges of fraud and money laundering.

TFG final results March 2024

‘Confident we can grow, despite challenges’

Cape Town, W. Cape, SA (Friday 7 June 2024, 9:07) – Revenue for the year increased to R60.1 billion (2023: R55.2 billion) with gross profit going up to R27 billion (2023: R24.8 billion) and operating profit before finance costs grew to R6 billion (2023: R5.4 billion). Profit for the year attributable to owners remained at R3 billion (2023: R3 billion). Furthermore, headline earnings per share rose to 970.7 cents per share (2023: 968.9 cents per share).

Final ordinary dividend declaration

Notice was given that the directors have declared a final gross cash dividend of 200.0 cents (160.0 cents net of dividend withholding tax) per ordinary share for the six-month period ended 31 March 2024.

Preference dividend declaration

Notice was given that the directors have declared a gross preference dividend (no. 175) of 3.25% or 6.5 cents per share (5.20 cents net of dividend withholding tax) per preference share for six-month period ending 30 September 2024.

Company outlook

The outlook remains cautious due to continued challenging macro conditions across all territories. As such, we have strengthened our balance sheet by reducing our stock holdings and decreasing our net debt.
The Group continues to invest in its key strategic initiatives to further strengthen its differentiated business model. Notably, the construction of our River fields Distribution Centre was completed during the year within budget and ahead of schedule. We are moving each of our apparel retail brands into this facility as part of a phased plan to mitigate any risks.
We have made good progress in the execution of our strategy and we remain confident in our ability to grow our businesses. With our robust balance sheet and diversified business model, the Group is well-positioned to capture additional market share from competitors.
As a Group, we continue to seek out strategic adjacencies and high-quality acquisitions.

In case you missed it!

The May issue of S&V Footwear & Leather Goods Magazine

CLICK HERE TO VIEW IT ONLINE

S&V Footwear & Leather Goods Magazine Vol90 No5 May 2024

IN THIS ISSUE:

03 Upfront
- The R-CTFL Masterplan, 5 years on – Part IV: ‘Growth? Not only has there been no growth, business has dropped,’ say manufacturers who specialise in chain business.
- Supplying chains isn’t the only way of doing business. Corrida’s Adrian Maree on developing a branded business.
- LGB Distributors: Neighbouring states offer growth, writes Gary Baker.
- Angel Footwear: Biker boot exports undergoing wearer trials.
- Aldora Footwear: New direction for Brandon Ganesh.
- Zimbabwe Bata recalls retrenched workers – report from Newsday, Zimbabwe.

05 Exports & Trade
- The way forward for local manufacturing: Be realistic, be different, says Arsutoria’s Stefano Migliavacca.
- Explaining the International Labour Organisation’s role in sponsoring a design workshop: It’s about boosting exports and thereby creating jobs, says Nii Moi Thompson.

14 Headlines with Tinashe Mandirahwe
- Can Nigeria secure dominance in Africa’s shoe market?
- Levi shifts focus away from footwear.
- Shoes for Crews files for Chapter 11 Bankruptcy amid intense competition.
- Lulemon’s entry into men’s footwear – collaborate or go solo?
- Democratization could revitalise the shoe industry.

16 Profile
- Obituary: Glen Puttergill, Glen’s Shoes.
- Obituary: Leo Vandenheede, Fanci-Form, Levara.



Advertisers in this Issue
All China Leather Exhibition (08), Arena Trim (10), Freestyle Genuine Handcrafted Leather (02), Haesloop Agencies (13), Kaliber (05), Kaytex Belts (17), Leather Finishing Products (15), Leggenda Sport/Diadora (03), Palm Footwear (OFC), Saddler Belts (07), SAFLEC (11), S&V Calendar (01), S&V Directory (21), Shotland Packing (19).

They Said It

"Please forgive my tardiness in responding to the email.  My brother and Marquerite are keen to do this article.  I will just need to find out from everyone as to how and when we can do this.  Please give me until next week to revert with more information and contactable times.  My mother has decided to attend bible college and is unavailable in the mornings and generally terrible with her mobile as well as my father.  So this will require planning on my side to ensure that they will answer your call when you do phone.  And then the logistics of the photograph. Other than that, we are all keen." - Claudia Weyers of Hadassah Interiors, Cape Town, W. Cape, SA, on a planned feature on her remarkable family, who between them run FOUR highly creative leather-related businesses. She is clearly the organiser in the family.

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

New subscribers last week

Andries, Operations Manager, Spargs, East London / Transkei, South Africa
Dylan van Zyl, Shoe Designer, Bata, Umhlanga, South Africa
Derek Griffiths, Leather and component sales, Retired from Apeco, South Africa
Solly Kathoria, Representative, Lorenzini / Aero Clothing, Durban, South Africa
Mohammed Rafik Saloojee, Representative, Lorenzini Clothing Mfrs., Durban, South Africa
Yusuf, Tego Footwear, Durban, South Africa
Glenda van der Westhuizen, Sales Representative, Green Cross, Carolina, South Africa
Guido Griffin, Chemical Engineer, CKI, Oudtshoorn, South Africa
Chante van den Berg, Businwss Development Manager, Incomati, Gauteng, South Africa

Birthdays this week

10/06/1951: Marthus Louw, retired, formerly Bolton Footwear, Great Brak River, W. Cape, SA.
10/06/1955: Piet Kleyn, CEO, SA Ostrich Business Chamber, Oudtshoorn, W. Cape, SA.
10/06/1960: Lawrence Mabhiza, Truworths Group of Companies, Harare, Zimbabwe.
10/06/1961: Richard Turner, emigrated, formerly Bolton Footwear, Great Brak River, W. Cape, SA.
10/06/1983: Jarod Grossberg, G-Step, Durban, KZN, SA.
11/06/1948: Basie Vermaak, retired, formerly Watson Shoes, Great Brak River, W. Cape, SA.
11/06/1961: Andy Raouna, left the industry, formerly Multiserv, Johannesburg.
12/06/1954: Frieda Maisey, emigrated, formerly Brondean Agencies, Port Elizabeth, E. Cape, SA.
13/06/1943: Peter Book, retired, formerly Woodheads, Cape Town, W. Cape, SA.
13/06/1950: Maria Caldeira, Solemates, East Rand, Gauteng, SA.
13/06/1966: Benedict Plaatjies, Leather from Hart, Pietermaritzburg, KZN, SA.
13/06/1974: Stuart Worrall, Elan-Polo, Cape Town, W. Cape, SA.
14/06/1952: Terry Holton, retired, formerly ACA Threads, Johannesburg, Gauteng, SA.
14/06/1963: Niekie Vermaak, KKI Leather Marketing, Oudtshoorn, W. Cape, SA.
14/06/1965: Beverley Riley, Brits Leather Products, Brits, NW Province, SA.
14/06/1965: Allan Kisten, Spunlok, Pinetown, KZN, SA.
14/06/1969: Alison Piccione, KMP Footwear, Pinetown, KZN, SA.
14/06/1983: Lebogang Mokwele, QS Safety, Kempton Park, Gauteng, SA.
15/06/1945: James Cragg, agent, East London, E. Cape, SA.
15/06/1947: Stuart Cox, agent, Bloemfontein, Free State, SA.
16/06/1945: Yusuf Kadwa, retired, formerly May’s Shoes, Durban, KZN, SA.
16/06/1963: Deepak Dayal, Deluxe Footwear, Durban, KZN, SA.
16/06/1965: Tersia Wessels, retired, formerly Crocs SA, Somerset West, W. Cape, SA.
16/06/1973: Sue Meehan, left the industry, formerly Saddler Belt and Mantella Q Leather, Durban, KZN, SA.
16/06/1985: Chris Stottelaar, Leather Systems, Port Elizabeth, E. Cape, SA.
16/06/1960: Jaywant Irkhede, the DTIC, Pretoria, Gauteng, SA.
  

In memoriam this week

12/06/2004: Neville Williams (b. 04/1945), Cameo Components/Central Components [closed], 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.

Directory entries updated this week

Brown Sugar [Ongeza Investments cc], Nelspruit, Mpumalanga, SA.

3. Malawian Kwacha (MWK) (buying)

Source: https://www.rbm.mw/

4. Zambian Kwacha (ZMW) (buying)

Source: https://www.boz.zm/

5. Zimbabwe Dollar (ZWL$) (average) / Zimbabwe Gold (ZiG)

Source: Source: https://www.rbz.co.zw/

Note: For previous rates, see HERE

ABSA Agri Trends: Hides & skins prices

Johannesburg, Gauteng, SA (06 June 2024) - The average hide price increased by 0.39% to 3.24/kg from R3.20/kg a week ago. The current price is 0.01% lower than the average price a month ago and 11.0% lower than the average price a year ago. The range of prices reported was as follows: Minimum price: R3.00 Maximum price: R3.25. Price movements will be highly influenced by developments in the status of our animal diseases. 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:

Surf Centre, Port Elizabeth, E. Cape, SA. Surf retailer.
Surfers Paradise, Scottburgh, KZN, SA. Surf retailer.

THIS WEEK LAST YEAR!

Retailers expressed hope, but not much optimism for the June 16 long weekened.

The strong get stronger. Was the headline for TFG results.

The Ares takeover of Vans from Bounty was officially announced.

READ IT HERE - S&V WEEKLY NEWSLETTER VOL.9 NO.24, JUNE 12 2023

THIS WEEK FIVE YEARS AGO!!

Retailers were upbeat following a better week of trading.

SACTWU was threatening to approach the Competition authorities over Green Cross factory closure.

1721 Distributors (Pty) Ltd, distributor of Fila and Levi's, announced it had has moved offices.

READ IT HERE - S&V WEEKLY NEWSLETTER VOL.5 NO.23, JUNE 10, 2019

NEWSLETTER ARCHIVE

All the past S&V Weekly Newsletters from January 2016 onwards are available in the newsletter archive.
VIEW THE ARCHIVE - CLICK HERE

Contact us

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

Next newsletter: June 17, 2024. Ad and editorial deadline Friday 14 June.

SAFLIA enquiries: Tel 0800SAFLIA * Email info@saflia.co.za * Website

Footwear Industry Articles

• 

  Drip Footwear’s financial crisis - a cautionary tale

  Rapid Expansion BackfiresDrip Footwear, a once-promising South African sneaker brand, is facing a severe financial crisis that has sparked intense scrutiny and debate. The company’s rapid expansion into shopping malls has backfired spectacularly, leaving it with a R20 million debt, a foreign exchange blunder, and the looming threat ...more
• Mr Price Sport: ‘Brands small – but important – part of our business’

  Durban, KZN, SA – Mr Price Sport will continue to look for opportunities to carry branded products, MD Anthony Findlay says.“Brands make up 10% to 15% of our merchandise, which may be small, but it’s an important part of the selection.”Through a collab with the SA distributor of U.S. brand Everlast, which is associ ...more
• Others have taken their place

  Louis Trichardt, Limpopo, SA – I do think their drop in business is because they have sidelined all the independents. After all, it was the independents that grew the brand, not the chain groups. With this being said, all other companies have taken advantage and grown to another level. One of those is Puma which has grown so much an ...more

MORE ARTICLES

Leather Industry Articles

• Sam Setter's 'Pills': For readers who need some wry medicinal humour

  " HilariousThe industrial promotion section of the Rwandan Ministry of Trade and Industry has announced that the country intends to develop a tannery park in the Bugesera special economic zone near the border with Burundi. When one talks about a tannery park, one imagines a minimum of a dozen tanneries, and another dozen shoe and lea ...more
• 

  Ostrich: ‘Stable to positive’ – the good days continue

  Mossel Bay, W. Cape, SA – We are now nearly 5 years down the line, since the KKI and Mosstrich/SCOT merger. The new name Cape Karoo International (CKI) is now well known among all international and local buyers of ostrich leather. Our clients across the globe also have switched now to “CKI” as the new brand, understandin ...more
• Poor market for sheepskins, hides steady

  Dialogue with Cape Produce Co. MD Greg FeinbergAre there any issues with sheepskins in terms of quality and availability?Quality and availability are both relatively steady (based on the usual seasonal variations). The primary issues on both lines are market related (demand vs supply) with both Merinos and Dorpers experiencing unpreceden ...more

MORE ARTICLES

PPE Industry Articles

• 

  Understanding how compliance training and the QCTO apply to your workplace

  Potchefstroom, N.W. Province, SA (17 July 2024) – In South Africa, navigating the rapidly changing landscape of workplace training can feel overwhelming. We are in the midst of a momentous transition to the Occupational Qualification Sub-Framework (OQSF) overseen by the Quality Council for Trades and Occupations (QCTO) and this shif ...more
• 

  Warren Sachs new CEO of Beier Group

  Pinetown, KZN, SA (01 August 2024) – The Beier Group, which includes Beier Envirotec, BBF Safety Group, Beier Drawtex Healthcare, and Neucoat, and which manufactures technical textiles, personal protective equipment, and advanced wound care products, has appointed Warren Sachs as Group Chief Executive Officer, effective 19 July 2024 ...more
• 

  Pathogen identification — next-generation sequencing optimises diagnostics

  Stuttgart, Germany (12 June 2024) – Invasive infections such as sepsis require immediate and targeted treatment. Experts from the Fraunhofer Institute for Interfacial Engineering and Biotechnology IGB and group partners have succeeded in establishing a reconceptualized detection principle that can make a crucial contribution to savi ...more

MORE ARTICLES

• HOME
• About Us
• Publications
• Subscribe
• Industry
• News
• Articles
• Newsletters
• Directory
• Trade Fairs
• Privacy Policy
• Contact

S&V PUBLICATIONS

S&V FOOTWEAR & LEATHER GOODS

S&V AFRICAN LEATHER

S&V PROTECT

© S&V Publications

×

X

This website uses cookies to ensure you get the best experience on our website. Learn more

Accept