NEWSLETTER ISSUE NO 1 – October 2024

30 October 2024

From the Desk of Executive
Director, Nerisha Jairaj

Rise Above, Create Beyond

In the face of challenges, our true strength shines. The South African footwear industry has always thrived on creativity, and now more than ever, innovation is our greatest asset. Every obstacle we encounter is an opportunity to think differently, to rise above, and to build beyond expectations.

Let’s embrace this moment with positivity and see each challenge as a stepping stone to new ideas, better solutions, and a brighter future. Together, we can push boundaries, adapt, and lead with innovation!

Best regards,
Nerisha Jairaj Executive Director, SAFLEC

Table of Content

Topic 1:
WORLD NEWS (AS PER WORLD FOOTWEAR NEWS)

Kering Issues Third Profit Warning After Q3 Sales Fall, Gucci Misses Forecast

JOELLE DIDERICH wroteThe French luxury group said it expects a recurring operating income of around 2.5 billion euros in 2024, down 47 percent year-on-year. Kering issued its third profit warning this year after revenues fell 15 percent in the third quarter as weak demand across Asia caused its star brand Gucci to once again miss expectations with a sharp sales drop. The French group, which also owns brands including Saint Laurent, Bottega Veneta, Boucheron and Balenciaga, said it now expects a recurring operating income of around 2.5 billion euros in 2024. This would represent a decline of 47 percent from the 4.75 billion euros recorded last year. Kering cited “the major uncertainties likely to weigh on demand among luxury consumers in the coming months” and the larger-than-expected slowdown in the third quarter.

Topic 2:
South African Companies Stand Out at Fashion World Tokyo

South African companies once again made their mark at Fashion World Tokyo, representing the footwear and leather goods sectors. Despite challenges with delayed approval from the dtic, which affected pre-event preparations, the exhibitors successfully showcased South Africa’s unique offering to the Japanese market.

South Africa’s ability to differentiate itself was clear, with products that combine global trends with rich ethnic DNA, resonating with international buyers. The exhibitors secured promising leads, and the potential for growth in this market is strong. As we work closely with the dtic to resolve approval delays, South Africa is poised to offer the world high-quality, bespoke products that celebrate our cultural heritage while staying on trend.

Topic 3:
SAFLEC and EFLC Expands Opportunities with Successful African Missions and New Ghana Invitation

SAFLEC/EFLC continues to drive opportunities for South African manufacturers across the African continent. Recent outward selling missions to Ivory Coast, Zimbabwe, and Zambia have proven highly successful for participating members, with these markets showing strong interest in South African footwear and leather goods. These missions highlight the vast potential for growth within Africa, where products that blend quality, innovation, and cultural identity are in high demand.

SAFLEC/EFLC is committed to creating opportunities both globally and within Africa for our members. However, to fully benefit from these initiatives, active participation is key. Our goal is to equip South African manufacturers with the resources and exposure they need to succeed, and all that remains is for businesses to seize these opportunities.

With the success of Ivory Coast, Zimbabwe, and Zambia missions, we are excited to announce a new invitation for a mission to Ghana. This presents another opportunity for members to break into a thriving market. We encourage all members to take full advantage of this offer, as these missions open doors to significant business growth within Africa.

IF YOU ARE NOT A SAFLEC MEMBER YOU ARE LOSING OPPORTUNITIES!!!

Join SAFLEC and unlock a world of opportunities in the South African footwear and leather industry. As a member, gain access to vital resources, exclusive events, and networking platforms. With SAFLEC, seize the chance to expand into global markets through funding and support initiatives. Experience the thrill of collaborating with industry leaders, staying ahead of trends, and shaping the future of our craft. Do not just witness the excitement—be a vital part of it. Elevate your career and impact by becoming a member of SAFLEC today! Contact prenisha@saflec.co.za

Our social media platforms have been hitting record breaking hits. Our last post obtained over 160 000 likes, boosted to followers in the rest of Africa, Europe, Middle East, and North America. We encourage you to take advantage of our efforts to promote you.

Send us content to push your company and brands. Also like, follow, and forward our links to your contact lists. Let’s build the following globally, so that we can show the world our capability.

Facebook: @SAFOOTWEAREXPORT
Instagram: @saflec_team
Twitter: @SAFLECEXPORT
Youtube: SAFLEC 


UPCOMING EVENTS

Seda Collab – Unlocking Global Trade Portals
30 October 2024

Dubai Leather World
November 2024

Australia
November 2024

CIIE China
November 2024 (dtic National Pavilion)

As we move forward, we recognize the importance of re-learning and adapting to global needs, demands, and challenges while embracing new strategies to thrive in the post-COVID era. 

Best regards,
Nerisha Jairaj Executive Director, SAFLEC