Newsletter No 35/8 September 2023
Click on any ad to go to the advertisers website.
SA Fashion Week is officially set to return from October 19th to October 21st for Autumn/Winter 2024 collections and Cruz will once again be sponsoring this illustrious affair. This season, collaboration, cocktails and The Cruz Collective remain the driving force of our endeavours over the week. Maisha Mamabolo from Cruz sums it up well, “Fashion is about more than clothing. Fashion is about attitude, it creates cultures. Cruz was born from the spirit of New York so we rally behind all in the pursuit of success as we explore the new age of luxury.” SAFW is a bold collaboration between Cruz, a 5 times distilled grain vodka, the fashion forward of South Africa and our most talented designers.
Cruz never stagnates, we always explore refreshing the focus of our bold partnership with a continued resolve to demonstrate commitment to the Cruz Collective. As part of our sponsorship agreement, Cruz Vodka has naming rights to one show and this year we have returning talent, Michael Ludwig Studio and Fikile Zamgcino Sokhulu as well as new addition Ephymol. Together they form The Cruz Collective and are our set of talented designers who will be showcasing their elegant collections. We posed a challenge to the designers this year to bring our iconic silhouette to life with bespoke garments that illustrate how our talented designers see the revitalised range. Their interpretation of selected Cruz variants is much anticipated and their continued success in the global fashion industry is why Cruz is proud to stand alongside the next generation of designers in South Africa’s fashion industry, and to play a role in enabling their journey.
Kicking off this year’s activity-filled calendar will be the Cruz Opening Party where-in we invite the “Who’s who” in fashion, influence and celebrity to party the night away with us as they enjoy decadent Cruz cocktails, a New York inspired menu and world class entertainment. Designers, fashion buyers, consumers and media from across the continent and beyond will reunite once again to view the new season’s collections of fresh talent from across Africa, and even the world. We’ll embrace them with complimentary cocktails and one of a kind photo opportunities before their respective shows as they mingle before each distinct exhibition from those gifted with an eye for fashion.
Since inception, SAFW has been instrumental in championing the business of ethical fashion in South Africa and empowering emerging creatives. Cruz Vodka, like SAFW supports local talent and fosters the growth of all who strive to “Make it Anywhere.”
Fast fashion’s waste crisis strangles Ghana
By Bukola Adebayo
Picture: 123RF
As Western castoffs flood second-hand market Kantamanto, campaigners demand reparations for the eco-nightmare left in their wake
Accra — Last year’s must-have dress, yesterday’s flares and countless other Western castoffs are strangling the Global South, prompting calls for fast fashion to pay the price for rampant overproduction.
Every week, about 15-million items of used clothes end up in Ghana’s capital, shipped in bales from Europe, North America and Asia to the world’s biggest second-hand clothes market.
Almost half the imported clothes are then junked, says the Accra-based Or Foundation, which is campaigning for reparations for the pollution caused by consumer fads whole continents away.
“Many of these garments should have been disposed of there, yet they put them into bales and ship them here. Fast fashion is fuelling waste, and they should not continue to expect us to use our taxes to process the industry’s excesses,” said Solomon Noi, head of waste management in the Ghanaian capital of Accra.
Noi told Reuters that tens of tonnes of fabric — from used clothes to rags — end up as junk each day, clogging ditches and gutters, polluting once-pristine beaches and strangling the seabed.
“We’re collecting used clothes from our beaches and gutters every week. It is choking our landfill … Our country can’t be the dumping ground for their waste,” said Noi.
The castoffs, discarded by big brands and consumers alike, are shipped to Ghana for a new life, one of tens of big import hubs across Africa that bulk-buy used fabrics and repurpose them for the local market.
Noi said the market generates at least 100 tonnes of fabric waste daily, while city trash trucks can only carry 30 tonnes.
When it rains or floods, the backlog of fabric at informal dumps flows into gutters then wends its way to city beaches.
World’s no. 1 used-clothing market
Nestled at the back of Accra’s abandoned railway carriages is Kantamanto — the world’s largest second-hand clothing market.
Hundreds of makeshift stalls display bundles of rumpled polo-necked shirts, battered bags and worn shoes from popular Western fashion brands.
Many are also designer knock-offs from Asia.
Vendors and shoppers bend over mountains of old shirts and women’s clothing as they haggle under the hot sun.
A year ago, Abena Essoun had a stall in the market selling second-hand blouses and skirts from London to office workers in Ghana. Now, she’s part of a pressure group travelling across Europe to lobby for help tackling the waste crisis.
#StopWasteColonialism campaigners say the fashion industry, notorious for overproduction, has used second-hand markets in the Global South to dump its waste, and should pay a price.
Their call for reparations is part of a growing push by campaigners around the world to make companies and countries pay for the damage they do, be it environmental, social or financial. Victims of pollution, enslavement and persecution have all joined the clamour for recompense with varying success.
Essoun said she had shifted slowly from saleswoman to activist, fed up with the shoddy stock that London offloaded.
“Most have stains, or are torn with paint or oil stains; the other half is rags. I’d sell half and throw the other half away,” said the 42-year-old mother of two.
“A lot of us borrowed money to buy these clothes we could not sell. We couldn’t pay it back, and we’re not making profit. It was a vicious cycle of debt, and something had to be done,” she said.
It was that mounting anger among Kantamanto’s 30,000-plus traders and the frustration of Ghana’s waste-management agency that propelled calls for rich nations to stop dumping rags dressed up as second-hand clothes, and pay for the damage caused by shipping their scraps south.
Kantamanto gets about 15-million items of clothing each week from North America, Britain and Asia, and about 40% of it ends up as waste according to the Or Foundation.
Fashion reparations?
The root of the crisis, activists say, is overproduction driven by a frenzied fast-fashion market, where ever-changing trends spawn a nonstop cycle of cheap, mass-produced clothing.
According to FashionUnited, a global fashion network, the apparel industry churns out 100-billion to 150-billion items annually, and production has doubled in the last two decades.
The sector is responsible for nearly 100-million tonnes of waste every year and the figure is predicted to rise by at least 50% before 2030, the World Economic Forum (WEF) said in a report.
In the last six months, Noi and Essoun — along with other traders — have met with European leaders in Paris, Brussels and at forums run by Global Fashion Agenda (GFA) to discuss implementing the Extended Producer Responsibility (EPR), an environmental policy that makes brands accountable for their products’ life cycle.
It has been used as a waste-management tool for batteries and electronics, but adoption by the fashion world has been slow.
France is the only country with an EPR scheme for clothes, though the EU plans to follow its lead and make it mandatory for clothing companies operating across the bloc.
Under the proposed regulations, the EU will charge clothing manufacturers a per-garment fee, helping social enterprises fund recycling and waste disposal in the EU.
But campaigners in Ghana say that would only help EU members and bypass its bustling second-hand markets.
They want the EU to amend its plans and distribute levies right down the supply chain to include Ghana, and specifically the Kantamanto community that bears the brunt of the pollution.
Noi said the money could fund a recycling plant.
Campaigners also want brands to declare their production numbers and commit to reducing output by 40% over five years, attacking the root of the textile waste crisis.
Liz Ricketts from the Or Foundation said reparations would have twin benefits: compensating traders for the poor quality of their castoffs and helping Ghana clear up the mess they cause.
“It is a step in the right direction towards getting the industry to pay the community in Ghana, whose environment has been destroyed, whose lives, health have been impacted by this pollution,” Ricketts said.
“We need actual ecological reparations for that.” 
Mr Price Home celebrates local artists this Heritage Day
Mr Price Home proudly supports local talent, and this Heritage Day they set out to celebrate artists who express themselves and their heritage in unique and inspiring ways.
Three exceptionally talented South African designers will have their bespoke designs and creative inspiration showcased by Mr Price Home as part of a limited-edition Heritage Day collab range.
In collaboration with Mr Price Home, each of the three artists has designed their own signature collection of homeware products; encompassing soft furnishings, trendy decor items, beach and outdoor essentials, statement art, and more. These exclusive ranges are now available in Mr Price Home stores throughout South Africa.
“As a proudly South African brand, we feel it’s important to recognise and highlight the incredible wealth of local talent present within our country. Our aim is to provide a platform that fosters homegrown creativity,” explains Kerry Strauss, marketing director of Mr Price Home.
Faatimah Mohamed-Luke’s range seamlessly embodies her multicultural upbringing. It incorporates patterned elements of Arab architecture, Indian woodblock printing, Indonesian resist patterns, and Malay calligraphy, all deeply rooted in African inspiration. The range pays tribute to Faatimah’s diverse heritage while celebrating her pride in being South African.
Faatimah remarks “The years that Mr Price Home has spent educating and cultivating a love of local talent within our population is priceless.”
Heritage means so many things to so many different people, but to Zinhle Sithebe heritage is ‘bright’ and ‘fun’. Zinhle’s range is centred around the celebration of vibrant colours and prints displayed in African regalia on Heritage day.
Zinhle observes; Mr Price Home “use their platform and brand to shine a light on local creatives and their stories.”
Xolani Mhlongo’s range tells the story of the past for future generations. The range incorporates various shapes of the afro comb and blends South African patterns with influences from Zulu, Xhosa, Ndebele, and Khoisan cultures. The designs aim to convey the rich tapestry of culture and tell its unique story.
Each collaborator drew inspiration from their personal heritage and experiences to create this limited-edition range in partnership with Mr Price Home.
Phethile’s Mtshali, Merchandise Director says, “This collaboration has been a truly exhilarating experience for us, as we had the privilege of working with the most talented local artists to create distinctive works of art that you can proudly display in your home. It has been an honour to release such stunning ranges that showcase the diverse beauty of our heritage.”
The Heritage Day collab range will be available from 24 September 2023 at select Mr Price Home stores nationwide. Bizcommunity
TFG – trading update and trading statement
Salient features
*Group retail turnover growth of 11.3% for the 22 weeks ended 26 August 2023 (‘current period’) compared to the 22 weeks ended 27 August 2022 (‘prior period’);
*TFG Africa recorded retail turnover growth of 16.1% (9.7% excluding Tapestry*) and like-for-like retail turnover growth of 3.3%;
*Cash retail turnover growth for TFG Africa of 21.8%. Cash retail turnover now contributes 73.4% to total TFG Africa retail turnover and 82.0% to total Group retail turnover;
*TFG London’s retail turnover declined 12.4% (GBP) off a high post COVID-19 base;
*TFG Australia’s retail turnover declined 6.6% (AUD) off a post COVID-19 record prior period base; and
*Group online retail turnover grew a pleasing 23.2% during the current period with online retail turnover contributing 10.1% to total Group retail turnover compared to 9.1% in the prior period.
Earnings per share (‘EPS’) and headline earnings per share (‘HEPS’) for the six months ending 30 September 2023 are expected to be within the ranges reflected below:
*Basic earnings per ordinary share: 346.2c to 392.4c; 15.0 to 25.0 % decrease
*Basic headline earnings per ordinary share: 348.5c to 394.9c; 15.0 to 25.0 % decrease
The Group’s financial results for the six months ending 30 September 2023 will be released on SENS on or about 10 November 2023.
Truworths final results 2 July 2023
Revenue for the year went up to R22 billion (2022: R19.3 billion) and trading profit came to R3.6 billion (2022: R3.6 billion). Profit for the period attributable to equity holders of the company increased to R3.3 billion (2022: R3.1 billion). In addition, headline earnings per share rose to 873.3 cents per share (2022: 779.8 cents per share).
Final dividend
The directors of the company have resolved to declare a final gross cash dividend from retained earnings in respect of the 52-week period ended 2 July 2023 in the amount of 245 South African cents (2022: 205 South African cents) per ordinary share to shareholders reflected in the company’s register on the record date, being Friday, 22 September 2023.
Outlook
Group
The Group’s retail sales for the first eight weeks of the 2024 financial period increased by 15.0% compared to the first eight weeks of the 2023 financial period.
Capital investment of R895 million (Truworths R741 million and Office £6.4 million) has been committed for the 2024 financial period. This includes R388 million for the development of the new Truworths Africa distribution centre, which is scheduled to be commissioned towards the end of the 2024 calendar period.
South Africa: Truworths
Consumer disposable income will remain under pressure in the period ahead as South Africans contend with electricity, food, borrowing and general cost of living increases. Consumer credit health (as measured by the TransUnion Consumer Credit Index) is currently at its lowest point and further interest rate hikes are possible. Retail trading conditions could be further impacted by the weak labour market, sporadic civil disruption and heightened social and political uncertainty in the build up to the national elections in 2024.
Load shedding is expected to continue to disrupt retail trading and negatively impact economic growth in the country. Management remains focused on mitigating the impact of electricity outages on sales, collections and customer engagement.
The Group is however cautiously optimistic on the medium-term outlook for the domestic economy. Household spending will benefit as inflation continues to moderate, with the potential for interest rate relief, while a sustained reduction in load shedding and a stable post-election environment could stimulate consumer confidence and economic activity.
In the current constrained spending environment, Truworths plans to sustain growth by capitalising on the strength of its accounts portfolio, its expanding customer base and the appeal of its quality, aspirational fashion, supported by the Group’s strong balance sheet and robust cash flows. Truworths will continue to launch new retail store concepts and brands, focus on expanding its integrated in-house design capability and improving speed to market, and invest in technology including the omni-channel experience. Truworths’ retail sales for the first eight weeks of the 2024 financial period increased by 5.3% relative to the first eight weeks of the 2023 financial period.
Trading space is projected to increase by approximately 2% for the 2024 financial period.
United Kingdom: Office
Despite trading headwinds, the Group is optimistic on the robust demand for Office’s product offering, both in-store and online. Office’s growth will be driven by introducing and growing new brands, new store openings and the renovation and extension of existing stores in strategically important locations, supported by the strength of its relationships with the world’s leading footwear brands and its loyal customer base.
Office’s retail sales for the first eight weeks of the 2024 financial period increased by 19.5% in Sterling terms relative to the first eight weeks of the 2023 financial period.
Trading space is planned to increase by approximately 10% for the 2024 financial period.
A person’s social rank and profession in the Medieval Ages was represented by the color of their clothing. The nobility wore red, peasants wore brown and gray, and merchants, bankers, and gentry wore green.
Editorial Submission:
Please remember to send me your news so that we can share it with all our readers in the weekly newsletter. Although editorial is neither guaranteed nor implied, suitable editorial for consideration may be submitted to:-
