V&A Waterfront Artist Alliance Incubator Programme

V&A Waterfront Artist Alliance Incubator Programme continues to showcase Cape Town’s creative future. The creative economy, with talents across diverse disciplines often takes center stage on social media, billboards, and through brand collaborations. However, not all partnerships benefit every creative equally.

In a landscape where some brands prioritise their own interests over fair compensation for artists, exploitation can often remain unseen, impacting creatives negatively. This is why the importance of access to information and industry education for creatives becomes paramount. The V&A Waterfront’s Artist Alliance Incubation Programme was born from exactly that need and on the belief that creatives who Live their Art, deserve to Be Heard.

ENDS

Categories: V&A Waterfront.

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22nd Nov 2024

PICK n PAY HELPS STRETCH CUSTOMER BUDGETS WITH BLACK FRIDAY DEALS

In just three days, the retailer has sold enough sugar to sweeten more than 70 million cups of coffee Research shows evolution of Black Friday from splurging frenzy to carefully planned savings opportunity Pick n Pay has put everyday staple grocery items front and centre for Black Friday, responding to a growing trend among shoppers to prioritise essential purchases during the annual sales event. The company’s decision to prioritise staples is paying off, and over just three days (Friday–Sunday), Pick n Pay sold enough sugar to sweeten over 70 million cups of coffee and enough rice to serve over two million meals. The retailer launched its Early Black Friday deals on the weekend and reported strong customer support for the promotional items in-store and across its online platforms, pnp.co.za and Pick n Pay asap!. Basic staple items like sugar, rice, toilet paper, and nappies were the major contributors. Pick n Pay’s private label was one of the top-selling brands, adding to the exceptional everyday value this range already offers across various product categories. Other top sellers included cool drinks and cereals. Reflecting on the top sellers this past week, Tessa Chamberlain, Marketing Director at Pick n Pay, says staple items are increasingly dominating shopping trolleys and online carts. An online survey by Chirp, which surveyed 1,000 South African shoppers post-Black Friday weekend last year, showed that 84% took advantage of Black Friday deals. Of those shoppers, 74% prioritised groceries, followed by clothing (42%), alcohol (24%), electronics, and appliances (22% and 21%, respectively). “Black Friday has evolved from a frenzy of splurging into a highly anticipated savings opportunity. Many customers now carefully plan their shopping lists to make the most of the deals, and we work nearly a year in advance with suppliers to ensure we deliver unbeatable value that helps households stretch their budgets,” says Chamberlain. The retailer currently also has deals running for general merchandise items, ranging from electronics to big appliances and homeware, which remain popular for some. “While groceries are a priority, deals on electronics, home appliances, and even pool equipment remain Black Friday favourites. Electronics and large appliances are always in demand during Black Friday, as customers use the opportunity to upgrade their homes or buy gifts,” added Chamberlain. Pick n Pay will again amplify customer Black Friday savings this year through its Smart Shopper loyalty programme and its new partnership with FNB eBucks, offering these customers even greater discounts. “Pick n Pay’s early Black Friday deals were a hit, and we have even bigger savings and more products later this month. From essentials to electronics, enhanced through loyalty rewards, we look forward to helping customers save on needed items so they can also spend on the products they want,” concludes Chamberlain.

11th Nov 2024

Boxer, SA’s leading discount supermarket, formally announces its intention to list

Boxer, a wholly-owned subsidiary of the Pick n Pay Group, today published its pre-listing statement as it commences the process of listing on the Main Board of the Johannesburg Stock Exchange (JSE) on 28 November 2024. Boxer also plans to have a secondary listing on the A2X. As part of the IPO, the Pick n Pay Group aims to raise between R8.0 billion and R8.5 billion through an offer of up to 202.4 million Boxer shares (around 40% of its total issued share capital) at a share price of between R42 and R54 per share (implying a total market capitalisation of between R21.1 billion and R24.7 billion). Pick n Pay expects to retain a majority stake in Boxer of approximately 60% to 65% post-IPO. Boxer’s IPO is the second and final step of the two-step recapitalisation plan by Pick n Pay. The listing of South Africa’s fastest-growing grocery chain will allow investors to own a share of this successful retailer as it takes up its rightful place on the JSE, alongside the major retail players in South Africa. Boxer Superstores is the pre-eminent discount grocery retailer in South Africa with an annual turnover of R37.4 billion and trading profit of R2.1 billion (FY2024) and a store estate of 489 (at August 2024). Boxer has a 47-year history and track record of consistent growth since Pick n Pay’s acquisition of the business in 2002 under the leadership of then-CEO Sean Summers, when it had just 35 stores and annual sales of R800 million. Its ‘soft discounter’ proposition in the South African market has secured it a share of approximately 68% of the discount grocery retail market and an estimated market share of 4.2% of the formal grocery market, more than double that of its closest competitor, estimated at 1.8%. Boxer grew its turnover at a South African market-leading CAGR of 18.6% between FY2022 and FY2024, with like-for-like growth of 7.7%, as a result of its compelling customer value proposition and accelerated store rollout programme. One of Boxer’s strengths is its deep understanding of its customers across the lower-to-middle-income communities of South Africa and Eswatini. This deliberate and clear market positioning has enabled strong like-for-like sales growth over many years in very challenging circumstances. Its 3,000 essential food and grocery products, including high-quality fresh meat, produce, and baked goods, are focused on value while incorporating quality confined labels, currently contributing 19% to sales. Boxer CEO Marek Masojada, who was part of the team that negotiated the sale of Boxer to Pick n Pay 22 years ago, says the business has been growing consistently, underpinned by a strong brand, unbelievable customer offer and an execution-focused team. “Our turnover growth has been achieved in the most competitive of trading environments, reflecting the coming of age of the Boxer brand. The brand’s success is recognition of how we’ve served our customers, the robust business model we have built and most importantly, our ability to trade successfully against other competitors and formats. “Boxer started off as more of a rural or smaller town operator in towns like Matubatuba, Nqutu, Ulundi, and Burgersfort. We continue to open stores in similar under-serviced towns and locations. However, we are now also in the major CBDs of Durban, Johannesburg, Tshwane, Mbombela, and Bloemfontein, as well as many townships across the country.” Boxer has on average added a new store every week for the last 3 financial years and has experienced a 14% CAGR in store numbers over the same period. By the end of this financial year (FY25), it expects to add 65 new stores. The medium-to-long-term aim is to double its store footprint by opening 60 to 70 stores a year for the next six to seven years. At the beginning of this year, Pick n Pay announced its two-step recapitalisation plan to strengthen the Pick n Pay Group’s balance sheet. Step one was completed three months ago, with its successful R4 billion Rights Offer being 106% oversubscribed, which saw the Pick n Pay Group returning to a positive equity position of R2.9bn. Step two is now underway, with the execution of the Boxer listing. Proceeds received from the Boxer IPO will be used by Pick n Pay to settle the Pick n Pay Group’s outstanding debt and to reinvest in the core Pick n Pay supermarket business. Pick n Pay CEO Sean Summers said: “Boxer offers an unmatched customer offer, and this is evident in their incredible growth. Having been there when we bought Boxer, it is very exciting to see the business come full circle. The Boxer IPO will increase their profile and visibility, providing Boxer with access to a large pool of capital for growth. The IPO will clearly demonstrate the worth of the Boxer business, unlocking value for Pick n Pay shareholders over time. The initial capital raised from the listing will mean Pick n Pay will be debt-free, with a strong balance sheet and a significantly reduced interest bill, and in a position to accelerate its turnaround, driving long-term sustainable growth for all our shareholders.” The future looks promising for Boxer as it is well-positioned to access both the formal and informal grocery market. Boxer intends to double its revenue over an estimated five-year horizon. It aims to maintain a steady pace in store rollouts, strong mid-single-digit like-for-like sales growth, and consistent profitability. Participation by qualified investors in the offer for Boxer shares will open today, 11 November 2024, at 09:00 and close at 12:00 on Friday, 22 November 2024. The publication date of the final offer price and final number of offer shares will be released on Monday 25 November and Boxer will officially list on 28 November 2024. Full details of the Offer are set out in the Pre-Listing Statement available on both the Boxer (www.boxerinvestor.co.za) and Pick n Pay (www.picknpayinvestor.co.za Investor Relations websites. ENDS/ DISCLAIMER Forward looking statements This announcement contains certain forward-looking statements which relate to the Boxer Group’s possible future actions, including the offer of its shares and admission on the main

15th Oct 2024

Creative entrepreneurs drive township economic development

A group of eight township furniture makers have between them created 42 jobs and generated a turnover of R2 million since joining a two-year entrepreneurial development programme. The group graduated from the programme at a ceremony held at the Pernod Ricard Foundation yesterday. John Baptiste Mathebula and Manyane Rantai, co-directors of Add Decor and Projects, turned their creative vision into concrete profits – and employment for members of their community – after learning the craft of furniture making as part of the Pernod Ricard Makers Programme, in partnership with the Gauteng Provincial Government and the Furniture Technology Centre Trust (Furntech). Mathebula began his creative journey as a schoolboy sketch artist, doing portraits of classmates and his social circle, before earning a living by doing paintings on commission for local restaurants. It was when he was asked to spruce up the eateries’ furniture with a lick of paint that the seed was planted for him to branch out into furniture restoration. Then, in 2014, he joined a learnership programme at Furntech, where he learned the craft of upholstery, expanding his repertoire to include making headboards and couches, and his love for making furniture grew. He started the company in 2017 with Rantai and joined the Pernod Ricard Makers Programme two years ago. “The programme has given us exposure and linked us with clients we would never have reached on our own,” he said. He also benefited from participation in prestigious expos like the Rand Show and Decorex, which has generated a whole new group of more affluent customers. “My dream is to employ people permanently and create breadwinners, to expand and have branches all over South Africa,” he said. Rantai shares the passion for making furniture, including cabinet making, interior design and renovations – a new avenue that has seen him working on a makeover for a Sandton-based business. Like Mathebula he started out as a visual artist but found it limiting. He discovered a more rewarding outlet for his talents in upholstery, before adding wooden furniture to his range of skills. His ambition is to have his own store and workshop, which would allow him to work extra hours and be more productive. Participants in the programme received Seta-accredited training covering carpentry, business management, manufacturing, technology and accounting. Gauteng Department of Economic Development Acting Head of Department Mpho Nawa applauded the graduates. “Our partnership with Furntech and Pernod Ricard represents the power of collaboration in addressing unemployment, poverty and skills development. This programme has uplifted emerging entrepreneurs and contributed to creating sustainable economic growth, testament to the potential we can unlock,” Nawa said. Pamela Nkuna, Corporate Affairs Director for Pernod Ricard Africa-Middle East, said the Makers programme was an expression of the company’s commitment to creating an inclusive environment. “Creativity and craftmanship are a part of Pernod Ricard’s history, while people are at the heart of everything we do and our collective spirit of conviviality. We are happy to help our Makers tell their stories through their craft,” said Nkuna. The next intake of 10 participants began their journey on the Pernod Ricard Foundation Makers programme earlier this month.