There are up to 6000 informal, foreign-owned clothing retail stores flourishing in SA, many selling cheap Chinese imports and blatantly flouting SA taxes and labour regulations. All the while these stores are stealing market share from SA’s formal low-cost clothing retailers.
This is the contention of a study by Econex, an economics consultancy in Stellenbosch.
via Retail – Informal sector-Tax-free profits
Image via Wikipedia
Johannesburg – South African-born fashion designer and entrepreneur Lesego Malatsi has gone from stitching ready-to-wear garments in a Soweto township mall set amid shanties to savouring the sweet success of London’s fashion week.
Malatsi had his first international show at the weekend in the British capital, where he displayed a collection of new-look African prints at the Fashions Finest event backed by Richard Branson‘s Virgin Unity initiative.
“Honestly, you don’t know how to prepare,” Malatsi said from London in a telephone interview with Reuters.
Malatsi has taken a long road to London that started in a tiny home in Soweto.
He first tried his hand at accounting after leaving high school, but a stint at a cosmetics company altered his career aspirations.
“(It) changed my mind and how I saw things,” he said.
He then studied fashion at the Cape Peninsula University of Technology and has been making clothes since.
via Success for SA designer: Fin24: Entrepreneurs.