Newsletter No. 41                                                                              26 October 2018

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Mr Price CEO to retire

Retailer Mr Price’s CEO Stuart Bird, who has held the post since August 2010 and has been an executive director since September 2006, will be retiring as CEO on 31 December and as executive director at the end of next March 2019, the company said on Thursday.

“After a thorough succession process, the board has appointed Mark Blair (51) as the incoming CEO, effective 1 January 2019,” Mr Price said.

Chairman Nigel Payne said Bird’s 25-year career with Mr Price, and particularly the past decade under his leadership as CEO, had seen the group grow into one of the top-performing retailers in Southern Africa, with a market capitalisation of over R60-billion.

“Over the eight years of Stuart’s leadership, earnings have grown at a compound rate of 18.8 percent.

“Stuart’s success has been as a consequence of focusing on our customers and ensuring we provide the products that appeal to them,” Payne said.

“He has also taken key steps to create the infrastructure and capabilities upon which our future success will be built.” eNCA

South African retail sales increase

By Angela Waywell eNCA

Despite the current economic climate, South African consumers and businesses are continuing to spend money.

Retail sales increased 1,9 % in the last month compared to the same period last year.

The latest data from Statistics South Africa show that retail sales rose 2,5 %  year-on-year in August after increasing by 1,4 % in July.

Major contributors to the growth were retailers in textiles, clothing, footwear and leather goods.

On a month-on-month basis, sales increased 0,6 %percen from a 1,3 % increase previously.

Cycling shorts are the new summer ‘shorts’ – and we’re obsessed

By Robin-Jade Carolus

Pic Mr Price Sport

Trend alert! Bike shorts are about to make your end of year plans easier.

*Get’s invited somewhere.* “But can I wear my workout clothes?” You’re that girl, we at WH are all that girl. And one of this season’s hottest trends makes being that girl 100 percent shameless. They’re comfortable, sexy and fit for royalty.

Made iconic in the Nineties by Princess Diana, cycling shorts have been worn by everyone from Kim Kardashian to some of our favourite fitsters.

This season’s must-wear trend is versatile and an edgy alternative to shorts for those of us who aren’t big on skirts. Pair them with slides or sneakers for all-day comfort, or dress them up with a pair of heels when night-time rolls around. Women’s Health

Ethiopia briefs Hong Kong business delegation

The Ethiopian Chamber of Commerce and Sectoral Associations (ECCSA) and the Ethiopian Investment Commission recently briefed a 30-person delegation from Hong Kong on business opportunities in the country. Manufacturing, textile and garments, pharmaceuticals, agro-processing and power generation are priority investment areas in Ethiopia, the delegation was told.

The briefing covered land lease, tax, other investment-related services and the continental and international agreements the country has signed, according to an Ethiopian newspaper report.

ECCSA secretary general Endalkachew Sime said Hong Kong investors can fully own companies or can have partnership with Ethiopian firms.

The meeting was organized by the ECCSA in partnership with the Hong Kong Development Council.F2F

Tax stamps in Ghana to revive textile industry: minister

The introduction of tax stamps on textile products in Ghana will ensure discipline and revive the domestic textile industry, according to deputy minister for trade Robert Ahomka-Lindsey. The advanced security features would help regulators check the influx of unauthorised goods, fight piracy and help customers make informed product choices, he said.

Ahomka-Lindsey was addressing a meeting with stakeholders at Denu in the Ketu South municipality on the tax stamps, to be introduced on November 14.

He said the ministry would in sensitisation and tour major business districts to help deepen understanding and compliance.

The stamps will be distributed free and will come in two different forms to make it easier to distinguish between locally-made and imported goods.

A three-month window would be given to traders to clear existing stocks before the rollout, he said.

An import management committee has been formed and mandated to manage the import of textiles, he added. F2F

Did you know……..

There is a rumor that the company Louis Vuitton burns any old stock to keep a tight hold on its exclusivity.

Marc Jacobs, famous for his many perfumes, has a SpongeBob SquarePants tattoo, among 27 others.

Gucci manufactured a pair of jeans named the Gucci Genius Jeans. They sold for a staggering $3,134.