Interesting article from TJ Strydom in Reuters yesterday "After merger collapse, Steinhoff goes for controlling stake in Shoprite" (http://www.reuters.com/article/uk-shoprite-hldgs-m-a-steinhoff-intlnl-idUKKBN1AK22G).
It is a pity about the few inacuracies in this article. Let's be clear: Pep Stores was NOT founded by Christo Wiese, as claimed in the article: " a low-end retailer founded by Wiese in 1965 in a small town near the border with Namibia".
In fact, it was founded by Renier van Rooyen in Upington in 1965, who was the Managing Director and Chairman until he passed it on to Wiese in 1981. Read the whole story at: https://pepstoresfounder.blogspot.ca/
Renier van Rooyen
The story of the founder of Pep Stores
Saturday, August 5, 2017
Wednesday, February 17, 2016
New eBook: Founder of Pep
With these words Renier van Rooyen described the recipe from which he created one of the largest
With the founding of the company in the 1950s he combined his personal philosophy for success with a business formula of selling clothing cheaper than anybody else’. The result was that within 25 years, he managed to turn a small concern operating out of a single shop with one employee, into a retail giant with 500 stores, 10 factories, 12,000 employees and a turnover of close to R300 million in 1981. During this period the name Pep became synonymous with quality clothing at discount prices, while the Pep slogans, ‘Always cheaper, always better! ‘We don’t sell cheap clothing: we sell clothing cheaply!’, became household words in South Africa.
Renier van Rooyen entered the business world at the age of 23 and achieved his success without the benefit of capital of his own. He originally borrowed the equivalent of R1,000 to start his business and had no business experience or financial training – this makes his feat all the more remarkable. Together with his humble beginnings in the unlikely entrepreneurial location of Upington in the rural, arid and sparsely-populated Northern Cape, his meteoric rise has reserved him a special place in South African business folklore - the classic ‘rags-to-riches’ story.
The blog provides a small insight into the eBook. The new 2018 edition can be ordered from Amazon or through Paypal on the "Buy the eBook' page on the blog.
Labels:
Ackermans,
Breit,
Christo Wiese,
Pep,
Pep Stores,
Pepkor,
Renier van Rooyen,
Shoprite,
Steinhoff,
Whitey Basson
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