Newsletter No.17    12 May 2017

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See what’s happening at Source Africa in two week’s time!       

The programme is finalised for the Source Africa Trade Event which will take place on 24 & 25 May this month at the CTICC in Cape Town. Source Africa will feature a two day trade exhibition with over 150 manufacturers, suppliers and service providers from 16 countries including South Africa, Mauritius, Madagascar, Mozambique, Uganda, Rwanda, Swaziland, Kenya, Turkey, USA, Switzerland, Poland, India, Germany, UAE and Hong Kong. There will also be daily fashion shows, complimentary wine tastings by The Fishwifes Club Boutique Winery, exhibitor promotions, important industry presentations and trend talks. See the programme below –

WEDNESDAY, 24 MAY

Source Africa Trade Show

Time: 10:00am – 17:00pm, Venue: Halls 1 & 2, CTICC

Presentation: Responsible Sourcing Auditing: Essentials for Suppliers to Save Time and Money

Time: 11:00am – 11:30am, Venue: Forum Area, Inside Halls 1 & 2, CTICC

Presented by Christian Gerling, General Manager EMEA LA, UL Consumer & Retail Services, Germany

Mauritius Fashion Show

Time: 12:00pm – 12:30pm, Venue: Forum Area, Inside Halls 1 & 2, CTICC

TCI Apparel Fashion Show

Time: 13:30pm – 14:00pm, Venue: Forum Area, Inside Halls 1 & 2, CTICC

Technology Presentation: State of the Art of Dyeing and Finishing

Time: 14:15pm – 14:45pm, Venue: Forum Area, Inside Halls 1 & 2, CTICC

Intro by Mark Goliath, Deal Maker, Industrial Development Corporation (IDC)

Presented by Jürgen Brockmann, Director, THIES GmbH & Co. KG, Germany

Technology Presentation : Weaving Technologies, Innovation, Energy Saving, Weaving Machinery and World Markets/Tendencies

Time: 15:00pm – 15:30pm, Venue: Forum Area, Inside Halls 1 & 2, CTICC

Intro by Mark Goliath, Deal Maker, Industrial Development Corporation (IDC)

Presented by Bruno Caffieri, Sales Manager, Picanol, Belgium

African Pavilions Fashion Show

Time: 15:30pm – 16:00pm, Venue: Forum Area, Inside Halls 1 & 2, CTICC

THURSDAY, 25 MAY

Source Africa Trade Show

Time: 10:00am – 17:00pm, Venue: Halls 1 & 2, CTICC

WGSN Trendtalks 

Time: 08:30am – 09:25am: Spring/Summer 18 Buyers’ Briefing – Womenswear

Time: 09:30am – 10:25am: Spring/Summer 18 Buyers’ Briefing – Menswear

Venue: Meeting Room 1.41 – 1.44, CTICC, Cape Town

Presented by Sara Maggioni, Director of Retail & Buying, WGSN, United Kingdom

The Buyers’ Briefings provides a comprehensive guide to support buying and range planning, rounding up the key messages, items, colours, fabrics and print directions for the S/S 18 season.

Chu Suwannapha Fashion Show

Time: 10:30am – 11:00am, Venue: Forum Area, Inside Halls 1 & 2, CTICC

Mauritius Fashion Show

Time: 12:00am – 12:30am, Venue: Forum Area, Inside Halls 1 & 2, CTICC

TCI Apparel Fashion Show

Time: 13:30pm – 14:00pm, Venue: Forum Area, Inside Halls 1 & 2, CTICC

African Pavilions Fashion Show

Time: 15:30pm – 16:00pm, Venue: Forum Area, Inside Halls 1 & 2, CTICC

To register, go to www.sourceafrica.co.za. Entry to all the events is free but pre-registration necessary.

Organisers: lte – leaders in trade exhibitions, Tel: +27 21 790 5849, Email: deidre@sourceafrica.co.za

TFG SewGood: A successful model of impact investment

Three years ago, TFG launched its SewGood programme to assist more than 40,000 people annually by providing training and skills development to previously unemployed women to create tens of thousands of blankets that are distributed to those in desperate need.

This year, the project is on track to train 120 previously unemployed women. The TFG trainees will again be producing 40,000 blankets and will also be creating a range of children’s hoodies at its Prestige factories in Maitland and Caledon.

The SewGood programme has accomplished what few corporate programmes can: to train new and previously unemployed recruits, with the product of that training benefiting tens of thousands of underprivileged or disaster-hit people, all while instilling a sense of pride in those whose daily work makes a real difference in the lives of the less fortunate.

A symbol of job creation

“Each of our purple blankets – which have become ubiquitous in the Caledon community and in communities trying to recover from severe challenges – is not just a blanket, but a symbol of job creation that enables us to keep the nation warm,” says Mymoena Mooradd, CSI manager at TFG.

“The concept of ‘shared value’ is often cited in CSI programmes but can easily amount to little more than a corporate buzzword. Our flagship project is, however, leading the way in demonstrating how shared value can be achieved for the benefit of all involved, whether it is the company, the community, individuals and workers, or broader society.

“We have partnered with Gift of the Givers, which is best placed in the work that it does to distribute the blankets where they are needed most.”

Some of the recipients over the past two years since the programme’s inception include fire victims from the communities of Imizamo Yethu, Hangberg, Du Noon, Philippi, Nyanga, Masiphumelele, and flood victims from Alexandra, among others. An additional 22,000 blankets were donated in various winter drives, for communities who had to face winter’s bite with very little.

Investing in local production

“The vision for the SewGood project is to continue to strengthen and grow TFG’s Shared Value strategy by investing in local production. We are very proud of this project, which provides a leading example of how a company can positively impact communities on a local and national level by using resources integral to the company’s business,” concludes Mooradd.

In partnership with the Gift of the Givers, TFG says it hopes that SewGood’s model of impact investment will inspire other companies and organisations to investigate how they can implement shared value programmes which can at once positively impact their business, the communities in which their businesses operate, South African society in general and also individuals in need.

Holdsport runs into heavy weather

Holdsport’s share price closed 3% lower on Friday after the group reported difficult trading conditions in full-year results.

The group, which owns Sportsmans Warehouse, said it experienced difficult trading conditions, with sales rising only 5.8% to R1.82bn. Its share price closed at R61.

“Holdsport continues to face low levels of consumer confidence, weak economic growth and a sporting goods industry which is intensely competitive,” CEO Kevin Hodgson said.

Holdsport comprises retail divisions Sportsmans Warehouse and Outdoor Warehouse and a wholesale division that includes the First Ascent, Capestorm, Second Skins and African Nature brands.

Core headline earnings excluding the effect of foreign exchange adjustments were 522.3c per share, a decrease of 2.3% from the 534.5c for the previous financial year.

“In evaluating this performance shareholders should take into account that the aggregate foreign exchange adjustment during the current year was a loss of R19.5m, compared with an aggregate profit of R8.4m during the prior year,” the company said.

Holdsport’s operating profit decreased 11.4% to R273.7m. Core headline earnings amounted to 489c per share, a 10.9% decrease on the previous year.

Like-for-like retail sales grew 1.8%, while the retail divisions experienced price inflation of approximately 8.1% for the year. The time-weighted trading area increased 3.4% relative to the prior year.

The Sportsmans Warehouse division traded out of 39 stores, having opened new outlets in Mall of Africa and Menlyn Park Shopping Centre. Like-for-like sales increased 2.1%.

The Outdoor Warehouse division comprised 24 stores and like-for-like sales increased 0.6%.

Holdsport’s wholesale division’s external sales were 54.9% higher than they were in the previous financial year.

Mozambique increases cottonproducer price by 50%

The Government of Mozambique, has increased the minimum price paid to farmers by more than 50 per cent for the 2016-17 agricultural season. The minimum price has been raised based on a proposal presented by cotton growers. For Mozambique, cotton is the third largest export earning commodity after coal and shrimps.

For first-grade cotton, the minimum price has been increased from about 22.5 US cents per kilo to about 35 US cents per kilo, Mozambican media reported quoting Cabinet spokesperson Mouzinho Saide.

Likewise, for second-grade cotton, the minimum price has now been raised from 16 US cents per kilo to 24 US cents per kilo, the reports said.

Mozambique has set a target to increase cotton production to 200,000 tons by 2020, compared to the current output of around 70,000 tonnes a year.

Did you know….

Romans loved Phallus jewelry. Ancient Romans wore penis charms on necklaces or hung them in doorways to ward off evil spirits.

The first shopping mall to sell clothes was built in ancient Rome.