S&V Weekly Newsletter Vol.10 No.45, November 04 2024
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Please note: Click on any ad to go to the advertiser’s website
Temu/Shein – new duties in place
Cape Town, W. Cape, SA - The new full duty on imports into SA from online sites Shein and Temu – 45% plus VAT on all products – went into effect on 01 November.
According to overseas reports, the European Union will investigate Temu for “possible illegal products and addictive design” in terms of the EU’ Digital Services Act.
Consumers ‘cash-strapped’
Abdul Rehman, Yorker Branded Footwear & Clothing
King William’s Town, E. Cape, SA – Business is very, very tough at the moment. Consumers don’t have money.
Supreme Hat acquires Durburg
Johannesburg, Gauteng, SA – Supreme Hat & Cap Manufacturers has acquired the Durburg men’s outerwear brand. It will be sold by its own network of agents, headed by Kamlesh Govin.
Death notice
Johannesburg, Gauteng, SA – Mike Lambrakis, who was part of a number of leading shoe factories in Pinetown, died recently in Johannesburg. An obituary will follow in the November issue of S&V Footwear & Leathergoods.
VF Corporation ‘making progress’
Denver, Colorado, U.S. – VF Corporation, owner of brands including North Face, Vans and Dickies, is “making excellent progress advancing our priorities and reshaping the company”, according to president and CEO Bracken Darrell, despite Q2FY25 results which included:
- Revenue $2.8 billion, down 6% vs. last year, an improvement vs. Q1'FY25 down 10%
- The North Face® down 3% (down 4% in constant dollars) as expected. This compares against a strong Q2'FY24 of up 19% (up 17% in constant dollars)
- Vans® down 11% vs. last year, relative to Q1'FY25 down 21% vs. last year
- Gross margin 52.2%, up 120 basis points vs. last year
- Operating margin 9.9%, down 210 basis points vs. last year; adjusted operating margin down 60 basis points vs. last year to 11.4%
- Earnings (loss) per share (EPS) $0.52 vs. Q2'FY24 $(1.16); adjusted EPS $0.60 vs. Q2'FY24 $0.63
In case you missed it!
The October issue of S&V African Leather Magazine
S&V African Leather Magazine Vol18 No10 October 2024
IN THIS ISSUE:
03 Sam Setter’s ‘Pills’
- A new quip from Sam Setter in each issue.
03 Upfront
- Rwanda: Realism needed for a country with wonderful hides and skins.
- Hanni family prepares to celebrate 300 years of tanning.
- Fusion Leather World achieves LWG silver rating.
06 An Eclectic View
- Traceability in Africa: Unusually, Africa has led the way in leather traceability, writes correspondent H. Procter, but the devil is in the detail.
09 Other Materials
- Leather friends? Perhaps not quite ‘the enemy of my enemy is my friend’, but ‘natural’ materials have more in common with each other than with the arch enemy, plastics, writes Karl Flowers.
11 Leather, Its Image & Its Place In The World
- Keeping leather relevant for the future involves both holding on to its heritage and incorporating modern values, writes the Sustainable Leather Foundation’s Deborah Taylor. - Only Natural: Inaugural competition, funded by the Leather & Hide Council of America and others, challenges fast fashion.
15 Weights & Measures
- Compiled by the ISTT.
Advertisers in this Issue
Authenticae (OFC), Fusion Leather World (04), International School of Tanning Technology (ISTT) (07), Mimosa (02), Rolfes Leather Division (05), S&V Calendar (01), S&V Directory (08), Southern African Footwear & Leather Export Council (SAFLEC) (44), Sustainable Leather Foundation (12).
They Said It
"I just rescued a pair of shoes. They were trapped in a store." - What the Internet came up with.
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
Tanya Du Toit, Financial Manager, Fusion Leather World, Cape Town, South Africa
Mumtaz, Director, Options Retail Chain, Gaborone, Botswana
Birthdays this week
04/11/1947: Greg Sadie, Desch SA, Johannesburg, Gauteng, SA.
04/11/1960: Greg Bing, A.P. Jones, Fish Hoek, W. Cape, SA.
04/11/1962: Philip A. Carstens, Carstens’ Orthotic Laboratories, Durbanville, W. Cape, SA.
04/11/1977: Elma Wallis, SHEQ Safety, Randfontein, Gauteng, SA.
05/11/1988: Jacques van As, TST Agencies, Cape Town, W. Cape, SA.
06/11/1963: Kamlesh Chagan, American Clothing/The Vault, Cape Town, W. Cape, SA.
07/11/1945: Garth Ribbink, A. Greenaways Natal, Durban, KZN, SA.
07/11/1966: Leslie Govender, Godvast, Durban, KZN, SA.
07/11/1971: Ajay Singh, United Agencies, Durban, KZN, SA.
08/11/1959: Ashmore Matemera, Finnemore Enterprises, Harare, Zimbabwe.
08/11/1967: ISW Smit, Clarens Curio, Clarens, Free State, SA.
08/11/1974: Louis de Sousa, Price Rite, Welkom, Free State, SA.
08/11/1987: Avinaash Piyarilal, Mr Price, Durban, KZN, SA.
09/11/1938: Johnny Makrides, Intershu Distributors, Johannesburg, Gauteng, SA.
09/11/1963: Sanjay Pattundeen, Caprini Footwear, Durban, KZN, SA.
09/11/1972: Chrisi Janse van Vuuren, Chrisi Artwear, Harrismith, Free State, SA.
09/11/1977: Darrell Naidoo, Sidekicks, Alberton, Gauteng, SA.
10/11/1956: Jeetendra Vallabh, Academy Outfitters, Port Elizabeth, E. Cape, SA.
10/11/1961: Granville Steyn, DyStar Africa, Pietermaritzburg, KZN, SA.
In memoriam this week
04/11/1998: Roy Schefermann, Futura Footwear, Pinetown, KZN, SA.
05/11/1998: Bob Gould, SB Agencies [closed], Pinetown, KZN, SA.
05/11/2013: Brian de Bruin (b. 26/09/1941), DB Components [closed], Durban, KZN, SA.
05/11/2016: Byron Ludlow (b. 29/03/1951), Michelle Footwear, Durban, KZN, SA.
07/11/2004: Ralph Mossop (b. 04/12/1913), Mossop & Son (now Mossop Western Leathers), Cape Town, W. Cape, SA.
08/11/1993: Roy Lagerwall, Saxian Trading, Johannesburg, Gauteng, SA.
09/11/2004: Trevor Rink (b. 15/08/1947), Cuthberts/Boyman’s [both closed], Johannesburg, Gauteng, SA.
10/11/2013: Barry Nash (b. 06/09/1952), King Tanning [closed], and Buckman, Port Shepstone, 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
Brumby Shoe Components cc, Johannesburg, Gauteng, SA.
Freestyle [Sabjah Trading], Cape Town, W. Cape, SA.
Lopez Leathers International [Ant Agencies cc], Cape Town, W. Cape, SA.
Studio Leathers cc, Cape Town, W. Cape, SA.
Yorker Branded Footwear & Clothing [Afro Worth Trading (Pty) Ltd], King William’s Town, E. Cape, 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 ¥ |
| 01/06/2024 |
R20.41 |
R23.96 |
R18.81 |
R2.59 |
| 08/06/2024 |
R20.40 |
R24.02 |
R18.87 |
R2.60 |
| 18/06/2024 |
R19.47 |
R23.03 |
R18.16 |
R2.50 |
| 23/06/2024 |
R19.22 |
R22.74 |
R17.97 |
R2.47 |
| 29/06/2024 |
R19.44 |
R22.95 |
R18.14 |
R2.49 |
| 07/07/2024 |
R19.74 |
R23.35 |
R18.23 |
R2.50 |
| 13/07/2024 |
R19.60 |
R23.32 |
R17.96 |
R2.47 |
| 20/07/2024 |
R19.89 |
R23.61 |
R18.27 |
R2.51 |
| 27/07/2024 |
R19.88 |
R23.55 |
R18.29 |
R2.52 |
| 03/08/2024 |
R19.92 |
R23.39 |
R18.27 |
R2.55 |
| 10/08/2024 |
R20.01 |
R23.38 |
R18.33 |
R2.55 |
| 17/08/2024 |
R19.66 |
R23.11 |
R17.86 |
R2.49 |
| 24/08/2024 |
R19.86 |
R23.42 |
R17.72 |
R2.48 |
| 22/09/2024 |
R19.47 |
R23.21 |
R17.42 |
R2.47 |
| 28/09/2024 |
R19.11 |
R22.88 |
R17.11 |
R2.44 |
| 05/10/2024 |
R19.19 |
R22.95 |
R17.49 |
R2.49 |
| 12/10/2024 |
R19.04 |
R22.75 |
R17.41 |
R2.46 |
| 19/10/2024 |
R19.12 |
R22.96 |
R17.59 |
R2.47 |
| 26/10/2024 |
R19.07 |
R22.89 |
R17.66 |
R2.48 |
| 02/11/2024 |
R19.12 |
R22.77 |
R17.62 |
R2.47 |
2. Botswana Pula
Source: https://www.xe.com/currencyconverter/
| |
Euro € |
GBP £ |
US $ |
CNY ¥ |
| 01/06/2024 |
14.74 |
17.31 |
13.59 |
1.87 |
| 08/06/2024 |
14.82 |
17.45 |
13.71 |
1.89 |
| 18/06/2024 |
14.52 |
17.18 |
13.55 |
1.86 |
| 23/06/2024 |
14.45 |
17.11 |
13.52 |
1.86 |
| 29/06/2024 |
14.53 |
17.15 |
13.56 |
1.86 |
| 07/07/2024 |
14.76 |
17.46 |
13.63 |
1.87 |
| 13/07/2024 |
14.70 |
17.49 |
13.47 |
1.85 |
| 20/07/2024 |
14.71 |
17.46 |
13.51 |
1.85 |
| 27/07/2024 |
14.80 |
17.53 |
13.62 |
1.87 |
| 03/08/2024 |
14.83 |
17.41 |
13.60 |
1.90 |
| 10/08/2024 |
14.80 |
17.30 |
13.56 |
1.89 |
| 17/08/2024 |
14.82 |
17.42 |
13.46 |
1.87 |
| 24/08/2024 |
14.96 |
17.65 |
13.35 |
1.87 |
| 22/09/2024 |
14.81 |
17.67 |
13.26 |
1.88 |
| 28/09/2024 |
14.66 |
17.57 |
13.13 |
1.87 |
| 05/10/2024 |
14.33 |
17.13 |
13.06 |
1.86 |
| 12/10/2024 |
14.52 |
17.35 |
13.28 |
1.87 |
| 19/10/2024 |
14.50 |
17.41 |
13.34 |
1.87 |
| 26/10/2024 |
14.44 |
17.33 |
13.37 |
1.87 |
| 02/11/2024 |
14.50 |
17.28 |
13.37 |
1.87 |
3. Malawian Kwacha (MWK) (buying)
Source: https://www.rbm.mw/
| |
Euro € |
GBP £ |
US $ |
ZAR |
| 01/06/2024 |
1912.34 |
2247.95 |
1716.73 |
94.10 |
| 08/06/2024 |
1925.25 |
2260.15 |
1716.73 |
93.44 |
| 18/06/2024 |
1897.13 |
2244.77 |
1716.73 |
96.93 |
| 23/06/2024 |
1895.01 |
2239.46 |
1716.73 |
98.39 |
| 29/06/2024 |
1890.06 |
2233.45 |
1716.73 |
95.73 |
| 07/07/2024 |
1913.40 |
2258.56 |
1716.73 |
97.10 |
| 13/07/2024 |
1921.86 |
2283.53 |
1717.02 |
98.27 |
| 20/07/2024 |
1924.69 |
2286.18 |
1717.02 |
96.71 |
| 27/07/2024 |
1919.74 |
2273.98 |
1717.02 |
96.61 |
| 03/08/2024 |
1910.19 |
2252.40 |
1717.02 |
97.14 |
| 10/08/2024 |
1931.59 |
2256.47 |
1717.02 |
96.56 |
| 17/08/2024 |
NA |
NA |
NA |
NA |
| 24/08/2024 |
1966.96 |
2318.37 |
1717.02 |
98.25 |
| 22/08/2024 |
1975.62 |
2355.68 |
1717.02 |
101.06 |
| 28/08/2024 |
1974.39 |
2365.76 |
1717.02 |
102.69 |
| 05/10/2024 |
1950.69 |
2322.96 |
1717.02 |
101.47 |
| 12/10/2024 |
1933.53 |
2307.58 |
1717.02 |
100.99 |
| 19/10/2024 |
1917.09 |
2308.82 |
1717.02 |
100.43 |
| 26/10/2024 |
1913.73 |
2293.43 |
1717.02 |
99.97 |
| 02/11/2024 |
1923.10 |
2280.70 |
1717.02 |
100.33 |
4. Zambian Kwacha (ZMW) (buying)
Source: https://www.boz.zm/
| |
Euro € |
GBP £ |
US $ |
ZAR |
| 01/06/2024 |
28.45 |
33.32 |
26.17 |
1.39 |
| 08/06/2024 |
28.55 |
33.57 |
26.36 |
1.39 |
| 18/06/2024 |
27.73 |
32.80 |
25.90 |
1.41 |
| 23/06/2024 |
27.36 |
32.36 |
25.58 |
1.42 |
| 29/06/2024 |
26.42 |
31.22 |
24.69 |
1.35 |
| 07/07/2024 |
26.47 |
31.31 |
24.45 |
1.34 |
| 13/07/2024 |
27.85 |
33.17 |
25.57 |
1.42 |
| 20/07/2024 |
27.89 |
33.09 |
25.61 |
1.39 |
| 27/07/2024 |
28.37 |
33.61 |
26.12 |
1.43 |
| 03/08/2024 |
28.15 |
33.09 |
25.85 |
1.42 |
| 10/08/2024 |
28.48 |
33.25 |
26.10 |
1.42 |
| 17/08/2024 |
28.89 |
33.90 |
26.27 |
1.46 |
| 24/08/2024 |
29.03 |
34.18 |
26.06 |
1.45 |
| 22/09/2024 |
29.37 |
35.00 |
26.29 |
1.50 |
| 28/09/2024 |
29.59 |
35.47 |
26.46 |
1.54 |
| 05/10/2024 |
28.91 |
34.50 |
26.38 |
1.49 |
| 12/10/2024 |
28.87 |
34.50 |
26.41 |
1.51 |
| 19/10/2024 |
28.86 |
34.63 |
26.65 |
1.49 |
| 26/10/2024 |
28.80 |
34.54 |
26.59 |
1.51 |
| 02/11/2024 |
29.14 |
34.69 |
26.78 |
1.52 |
5. Zimbabwe Dollar (ZWL$) (average) / Zimbabwe Gold (ZiG)
Source: Source: https://www.rbz.co.zw/
| |
Euro € |
GBP £ |
US$ |
ZAR |
| 01/06/2024 |
ZIG 14.40 |
ZIG 16.94 |
ZIG 13.31 |
ZIG 1.41 |
| 08/06/2024 |
NA |
NA |
NA |
NA |
| 18/06/2024 |
ZIG 14.45 |
ZIG 17.12 |
ZIG 13.48 |
ZIG 1.35 |
| 23/06/2024 |
ZIG 14.54 |
ZIG 17.21 |
ZIG 13.59 |
ZIG 1.32 |
| 29/06/2024 |
ZIG 14.64 |
ZIG 17.30 |
ZIG 13.70 |
ZIG 1.34 |
| 07/07/2024 |
ZIG 14.81 |
ZIG 17.48 |
ZIG 13.69 |
ZIG 1.33 |
| 13/07/2024 |
NA |
NA |
NA |
NA |
| 20/07/2024 |
ZIG 14.93 |
ZIG 17.74 |
ZIG 13.71 |
ZIG 1.33 |
| 27/07/2024 |
ZIG 14.96 |
ZIG 17.72 |
ZIG 13.78 |
ZIG 1.32 |
| 03/08/2024 |
ZIG 14.87 |
ZIG 17.53 |
ZIG 13.77 |
ZIG 1.32 |
| 10/08/2024 |
ZIG 15.04 |
ZIG 17.57 |
ZIG 13.78 |
ZIG 1.33 |
| 17/08/2024 |
ZIG 15.14 |
ZIG 17.75 |
ZIG 13.79 |
ZIG 1.30 |
| 24/08/2024 |
ZIG 15.36 |
ZIG 18.11 |
ZIG 13.81 |
ZIG 1.30 |
| 22/09/2024 |
ZIG 15.61 |
ZIG 18.60 |
ZIG 13.97 |
ZIG 1.25 |
| 28/09/2024 |
ZIG 27.16 |
ZIG 32.61 |
ZIG 24.39 |
ZIG 0.70 |
| 05/10/2024 |
ZIG 27.96 |
ZIG 33.30 |
ZIG 25.35 |
ZIG 0.68 |
| 05/10/2024 |
ZIG 28.79 |
ZIG 34.35 |
ZIG 26.33 |
ZIG 0.66 |
| 19/10/2024 |
ZIG 29.11 |
ZIG 34.97 |
ZIG 26.85 |
ZIG 0.65 |
| 26/10/2024 |
ZIG 29.97 |
ZIG 35.90 |
ZIG 27.68 |
ZIG 0.63 |
| 02/11/2024 |
ZIG 31.18 |
ZIG 36.96 |
ZIG 28.68 |
ZIG 0.61 |
Note: For previous rates, see HERE
ABSA Agri Trends: Hides & skins prices
Johannesburg, Gauteng, SA (31 October 2024) - The current average hide price decreased by 0.82% to R2.774/kg from R2.8797/kg a week ago. The current price is 0.01% higher than the average price a month ago and was 14.9% lower than the average price a year ago. The range of prices reported was as follows: Minimum price: R2.67 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
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:
Shoe York, Pinetown, KZN, SA. Women’s footwear.
Shoe Zone, Lenasia, Gauteng, SA. Men’s, women’s and children’s footwear online.
THIS WEEK LAST YEAR!
AGOA Forum
Prisaan in voluntary liquidation
READ IT HERE - S&V Weekly Newsletter Vol.9 No.45, November 6 2023
THIS WEEK FIVE YEARS AGO!!
Good news last week
Retail last week: Comment from 4 retailers on Saturday
SENS releases last week
- TFG interim results September 2019
- Truworths business update
Peter Adams, ex-TFG, joins FLIC
READ IT HERE - S&V Weekly Newsletter Vol.5 No.45, November 11, 2019
Contact us
News & Classifieds: Tony Dickson, +27 (0)31 209 7505, tony@svmag.co.za
Next newsletter: Monday November 11, 2024. Ad and editorial deadline Friday 08 November.
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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