S&V Weekly Newsletter Vol.10 No.36, September 02 2024
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Manufacturers see belated pick-up
Jamal Bux, Portside Footwear
Durban, KZN, SA - Business started picking up about a month ago. Prior to that, it could hardly have been much worse. We’ve been getting calls from chains and wholesalers, which is great, but we’re still very cautious about how the rest of the year will go.
Matthew Hansen, Angelsoft Footwear
Durban, KZN, SA - Yes it has picked up, but then we expect it to as Summer is normally our busiest season and has to make up for a slow start to this year pre-elections.
So, we are thankful to have a good order book at the moment and the Angelsoft factory is busy.
Retirement
Cape Town, W. Cape, SA - Stuart Hopwood, group creative executive at Bolton Footwear, retired at the end of August having reached the mandatory Bolton Footwear retirement age of 65. He said he would probably look for opportunities in consulting on marketing, mentoring and coaching, “not limited to the footwear industry”. He was at Bolton for a little under 9 years, having started on 01 November 2015. No successor has been named so far.
Foot Locker and JD Sports are taking divergent approaches to growth. Which is working better?
Extract from Footwear News, 30 August 2024
Foot Locker is touting a “less is more” approach to rebuild its business.
In addition to moving its global headquarters to St. Petersburg, Fla. from New York City in 2025, Foot Locker said this week it would shut down its stores and e-commerce operations in South Korea, Denmark, Norway and Sweden. The contraction comes on the heels of the retailer’s decision last year to close 400 underperforming locations, including about 125 underperforming Champs units. Foot Locker has also wound down its Lady Foot Locker, Footaction, Eastbay and Atmos banners in North America and its Runners Point and Sidestep banners in Europe.
In its most recent second quarter, Foot Locker remodeled or relocated 14 stores, refreshed 67 locations, closed 31 units and opened five new stores.
“An overarching principle of our Lace Up plan is to simplify and optimize our business to ensure that we can invest behind and focus our energy on our core banners and markets in order to drive sustainable growth,” chief executive officer Mary Dillon said in a call with analysts, explaining the latest decision to close its business in some regions.
Meanwhile, “bigger is better” seems to be the approach for UK competitor JD Sports, which opened 85 new stores in the first half of the year and recently completed its acquisition of American retailer Hibbett, which added 1,179 stores to the retailer’s portfolio. JD Sports chief executive officer Régis Schultz said in a call with analysts last week that the retailer’s strategy hinges on making major investments in the U.S. to help it scale globally.
“Our strategy is very clear,” Schultz told analysts in a call last week. “We believe that there is a strong community market in the U.S. This is a major investment that we are making in the U.S., [aimed at] developing JD as a global brand.”
In case you missed it!
The August issue of S&V Footwear & Leather Goods Magazine
S&V Footwear & Leather Goods Magazine Vol90 No8 August 2024
IN THIS ISSUE:
03 Upfront
- Mr Price Sport: ‘Brands small – but important – part of our business’, says MD Anthony Findlay.
- Plastics manufacturer Igus and e-bike manufacturer Advanced Bikes develop first recyclable plastic bicycle frame.
- Arena Trims moves.
05 Export & Trade
- SAFLEC AGM: Trade with SACU down, trade with non-African world up, leather the star performer, finances a concern – a mixed year, but ‘expect the recovery after the storm’.
08 Profile
- Cape Town’s extended Gottardo clan: Multiple businesses and a shared passion for leather, from bags to furniture.
14 Government’s Master Plans
- Alternative to master plans isn’t anarchy, says Dr Morné Malan of the Free Market Foundation.
14 Headlines with Tinashe Mandirahwe
- Drip Footwear’s financial crisis – a cautionary tale.
20 Technology
- Huntsman to launch new footwear soling for running, hiking and safety.
20 Financial Results
- Vans is still in freefall, ‘but VF Corporation’s rate of decline has moderated’.
- Second half improvement for Rip Curl and Kathmandu owner KMD Brands.
They Said It
"Weather is supposedly going to get warmer…sunny day today but you had to be out of the icy breeze to be warm…" - Report on Friday from a frozen relative in the Western Cape.
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
S Dawood, Manager, Sendi Apparel, Umbilo, KZN, South Africa
Jeffery Singh, Production Manager, Elite Components, Pinetown, KZN, South Africa
Birthdays this week
02/09/1941: Saag Jonker, Ostrich Products SA/Saag Jonker Group, Oudtshoorn, W. Cape, SA.
02/09/1953: Carlos Costa, emigrated to Australia, former MD of Superior Footwear/Imponente Tanning [both closed], Harare, Zimbabwe.
02/09/1960: Arveen Boodhoo, Dick Whittington Shoes, Pietermaritzburg, KZN, SA.
02/09/1952: Derek Ellway, formerly Inspectashoe [closed], Cape Town, W. Cape, SA, now in the UK.
02/09/1963: Sunil Daya, Randy’s Agency, Port Elizabeth, E Cape, SA.
03/09/1953: Vic Jablowski, Protech V, Pinetown, KZN, SA.
03/09/1970: Michel Hasson, Topaz, Cape Town, W. Cape, SA.
04/09/1952: Julian Pledger, left the industry, formerly Faith Footwear [closed], Port Elizabeth, E Cape, SA.
04/09/1963: Peter Crouch, Crouch Footwear, Pietermaritzburg, KZN, SA.
05/09/1954: Abdul Samad, Bob’s Shoe Centre, Johannesburg, Gauteng, SA.
05/09/1959: Abdul Hajat, Fanas Outfitters, Bethlehem, Free State, SA.
05/09/1989: Erlank van Zyl, Ostriland, Citrusdal, W. Cape, SA.
06/09/1951: Abdur Rahim 'Raymie' Bava, A.R. Bava & Co., Polokwane, Limpopo, SA.
06/09/1953: Tony Stottelaar, Leather Systems SA, Port Elizabeth, E. Cape, SA.
06/09/1957: Yusuf Bhabha, Shoe Boutique, Secunda, Mpumalanga, SA.
06/09/1979: Jayson Govender, Prolamm cc, Durban, KZN, SA.
07/09/1981: Mohamed A Lalla, Tysons Shoe & Clothing, Vereeniging, Gauteng, SA.
07/09/1972: Karl Flowers, Authenticae, Northampton, UK, formerly LIRI, Grahamstown, E. Cape, SA.
08/09/1954: Denis Tuchten, formerly Shoe Connection, Cape Town, W. Cape, SA.
08/09/1960: Paulo da Silva, emigrated, formerly Bambi Shoes [closed], Durban, KZN, SA.
08/09/1970: Kevin Naidu, Shenlea Agencies, Durban, KZN, SA.
In memoriam this week
02/09/2018: Sid Finlayson (b. 07/01/1939), Bata Zimbabwe, Futura Footwear and Bolton Footwear, Mossel Bay, W. Cape, SA.
02/09/2020: Alan Jackson (b. 31/07/1928), founder of Alan D. Jackson, Port Elizabeth, E. Cape, SA.
02/09/2021: Ahmed Patel (b. 26/05/1949), Creative Leathergoods, Durban, KZN, SA.
03/09/2005: Oliver Guibert (b. 23/12/?), Bata Zimbabwe, Gweru, Zimbabwe.
04/09/2012: Judi Moakes (b. 13/04/1960), in Northampton, formerly secretary, SLTC (SA Section).
08/09/2017: Roger Benjamin (b. 17/08/1945), agent, 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
Elite Components cc, Pinetown, KZN, SA.
eThekwini Leather & Wholesale cc, Durban, KZN, SA.
Portside Footwear (Pty) Ltd, Durban, KZN, SA.
Razmar (Pty) Ltd, Ladysmith, KZN, SA.
ABSA Agri Trends: Hides & skins prices
Johannesburg, Gauteng, SA (29 August 2024) - The average hide price increased by 0.03% to 2.802/kg from R2.801/kg a week ago. The current price is 0.54% higher than the average price a month ago and 8.4% lower than the average price a year ago. The range of prices reported was as follows: Minimum price: R2.75 Maximum price: R3.00. 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, and Zama Sangweni, agricultural economist, Absa group.
Note: For previous prices, see HERE
THIS WEEK LAST YEAR!
Outdoor: Awaiting seasonal upturn
Comfort: Forced change working out ‘quite nicely’
Woolworths Holdings Limited - ‘Underlying health of fashion division improving’
Bata moves head office after 50 years
Karen Lewis-Williams leaves Plum Footwear to join Intershu Group
READ IT HERE - S&V Weekly Newsletter Vol.9 No.36, September 4 2023
THIS WEEK FIVE YEARS AGO!!
Retail last week - Comment from 5 retailers on Saturday
Stock Exchange News Service (SENS) release
- Steinhoff - results of the general meeting
- Choppies - availability of forensic report
Cry the beloved Zimbabwe - and a curry hint
READ IT HERE - S&V Weekly Newsletter Vol.5 No.36, September 9, 2019
Contact us
News & Classifieds: Tony Dickson, +27 (0)31 209 7505, tony@svmag.co.za
Next newsletter: Monday September 9, 2024. Ad and editorial deadline Friday 6 September.
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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