Latest news with #CKI
NDTV
9 hours ago
- Business
- NDTV
Trump Tariffs A Stone In The Shoe Of 'Made In USA' Cowboy Boots
South Africa: The manufacture of iconic "made in the USA" cowboy boots is set to suffer from President Donald Trump's 30 percent tariffs on South African exports due to come into force on Friday. Texas's most renowned makers of the southern US fashion staple source the ostrich leather they require exclusively from the small South African town of Oudtshoorn, 400 kilometres (250 miles) east of Cape Town. Known as the world's "ostrich capital", Oudtshoorn is nestled in the semi-arid Little Karoo valley just inland from the southern coast, and is home to a few hundred thousand people and about as many of the giant flightless birds. "We just don't know how bad the impact will be, but positive it wouldn't be," said ostrich farmer Laubscher Coetzee of the tariffs expected to kick in on August 1 after South Africa appeared unable to negotiate a new trade deal with Trump. More than half of the global supply of ostrich-derived products -- from feathers to leather and meat -- comes from nearly 200 farmers around Oudtshoorn who are joined in the Cape Karoo International (CKI) group, said its managing director Francois de Wet. South Africa as a whole supplies about 70 percent of the world's production, he said. Luxury handbag manufacturers in France and Italy are among the CKI's main clients. It also ships 20 percent of its ostrich leather to top Texas bootmakers such as Lucchese, Justin, and Rios of Mercedes. 'Best for boots' Ostrich is "the best skin to build boots", according to Ryan Vaughan, CEO of the Rios of Mercedes manufacturer, which was set up in Texas in 1853. "It moulds and forms to your foot. It is extremely durable. It has a lot of natural oils in it, so you don't have to care for it very much," he said in a video posted in June. Another iconic brand, Justin, boasts its celebrated boots are "made in USA with global parts". And legendary bootmaker Lucchese told AFP that it had handmade its footwear in Texas for 141 years but had to "look beyond our borders for additional partners and raw materials as needed". "At this time, we are still deciphering the impacts of the current tariffs on our products and production," it said in a statement. De Wet from the CKI said he believed the South African supply of ostrich leather to the US manufacturers did not run counter to a push by the Trump administration for production to be brought home. The United States did not have enough ostriches to provide the required leather, he said. "We export the raw material, the ostrich leather. They can't produce it from local ostriches in the US. They don't have them," he told AFP. "They do all the value-adding in the United States," he said. "So therefore, in terms of the pure definition of what the Trump administration would like to see, in this case, we do it already." Shared cost The soft skins, recognisable by spots left by the large ostrich feathers, are currently sold to American manufacturers for around $20 a square foot. "We exported more than the usual volume of ostrich leather to the US in the past two-three months, so we have a little bit of a buffer," said de Wet. "For the moment we don't expect any layoffs in the short term," he said. But "in the long term, if we have to pick up the full tariff, it will definitely ... cause a shrinkage of our business." The consumer could also not be expected to pay an extra 30 percent for the already pricey boots, he said. "So the tariff will have to be split between the exporter... and the importer, and preferably also a part paid by the end consumer." It is the unique climate of the Little Karoo, which gets less than 400 millimetres (nearly 16 inches) of rain a year, that makes it ideal for ostrich rearing, said Coetzee, a fourth-generation Oudtshoorn farmer. "That is the reason the ostrich industry is still here 200 years after (it started)," he said. His great-grandfather built the family home in 1896, when the price of ostrich feathers rivalled that of gold because of their value to the women's fashion industry. The extravagant "ostrich palaces" of the time are a reminder of the industry's previous major crisis, when the market collapsed in the early 1900s as the arrival of the low-roofed motor car ended the fashion for high-feathered hats.
Hindustan Times
12 hours ago
- Business
- Hindustan Times
Trump's tariffs on South Africa threaten Texas' cowboy boot industry
The manufacture of iconic "made in the USA" cowboy boots is set to suffer from President Donald Trump's 30 percent tariffs on South African exports due to come into force Friday. South Africa as a whole supplies about 70 percent of the world's cowboy boot production.(Pixabay/representational) Texas's most renowned makers of the southern US fashion staple source the ostrich leather they require exclusively from the small South African town of Oudtshoorn, 400 kilometres (250 miles) east of Cape Town. Known as the world's "ostrich capital", Oudtshoorn is nestled in the semi-arid Little Karoo valley just inland from the southern coast,and is home to a few hundred thousand people and about as many of the giant flightless birds. "We just don't know how bad the impact will be, but positive it wouldn't be," said ostrich farmer Laubscher Coetzee of the tariffs expected to kick in on August 1 after South Africa appeared unable to negotiate a new trade deal with Trump. More than half of the global supply of ostrich-derived products -- from feathers to leather and meat -- comes from nearly 200 farmers around Oudtshoorn who are joined in the Cape Karoo International (CKI) group, said its managing director Francois de Wet. South Africa as a whole supplies about 70 percent of the world's production, he said. Luxury handbag manufacturers in France and Italy are among the CKI's main clients. It also ships 20 percent of its ostrich leather to top Texas bootmakers such as Lucchese, Justin and Rios of Mercedes. 'Best for boots' Ostrich is "the best skin to build boots", according to Ryan Vaughan, CEO of the Rios of Mercedes manufacturer, which was set up in Texas in 1853. "It moulds and forms to your foot. It is extremely durable. It has a lot of natural oils in it so you don't have to care for it very much," he said in a video posted in June. Another iconic brand, Justin, boasts its celebrated boots are "made in USA with global parts". And legendary bootmaker Lucchese told AFP that it had handmade its footwear in Texas for 141 years but had to "look beyond our borders for additional partners and raw materials as needed". "At this time, we are still deciphering the impacts of the current tariffs on our products and production," it said in a statement. De Wet from the CKI said he believed the South African supply of ostrich leather to the US manufacturers did not run counter to a push by the Trump administration for production to be brought home. The United States did not have enough ostriches to provide the required leather, he said. "We export the raw material, the ostrich leather. They can't produce it from local ostriches in the US. They don't have them," he told AFP. "They do all the value-adding in the United States," he said. "So therefore, in terms of the pure definition of what the Trump administration would like to see, in this case, we do it already." Shared cost The soft skins, recognisable by spots left by the large ostrich feathers, are currently sold to American manufacturers for around $20 a square foot. "We exported more than the usual volume of ostrich leather to the US in the past two-three months, so we have a little bit of a buffer," said de Wet. "For the moment we don't expect any layoffs in the short term," he said. But "in the long term, if we have to pick up the full tariff, it will definitely ... cause a shrinkage of our business." The consumer could also not be expected to pay an extra 30 percent for the already pricey boots, he said. "So the tariff will have to be split between the exporter... and the importer, and preferably also a part paid by the end consumer." It is the unique climate of the Little Karoo, which gets less than 400 millimetres (nearly 16 inches) of rain a year, that makes it ideal for ostrich rearing, said Coetzee, a fourth-generation Oudtshoorn farmer. "That is the reason the ostrich industry is still here 200 years after (it started)," he said. His great-grandfather built the family home in 1896, when the price of ostrich feathers rivalled that of gold because of their value to the women's fashion industry. The extravagant "ostrich palaces" of the time are a reminder of the industry's previous major crisis, when the market collapsed in the early 1900s as the arrival of the low-roofed motor car ended the fashion for high-feathered hats.
Time of India
13 hours ago
- Business
- Time of India
Trump tariffs a stone in the shoe of 'made in USA' cowboy boots
The manufacture of iconic "made in the USA" cowboy boots is set to suffer from President Donald Trump 's 30 percent tariffs on South African exports due to come into force Friday. Texas's most renowned makers of the southern US fashion staple source the ostrich leather they require exclusively from the small South African town of Oudtshoorn, 400 kilometres (250 miles) east of Cape Town. Explore courses from Top Institutes in Please select course: Select a Course Category Healthcare Others Public Policy Management Design Thinking Product Management Operations Management Project Management PGDM Degree MBA CXO Technology Data Science MCA Artificial Intelligence Leadership Skills you'll gain: Financial Analysis in Healthcare Financial Management & Investing Strategic Management in Healthcare Process Design & Analysis Financial Analysis in Healthcare Financial Management & Investing Strategic Management in Healthcare Process Design & Analysis Duration: 12 Weeks Indian School of Business Certificate Program in Healthcare Management Starts on Jun 13, 2024 Get Details Skills you'll gain: Financial Analysis in Healthcare Financial Management & Investing Strategic Management in Healthcare Process Design & Analysis Duration: 12 Weeks Indian School of Business Certificate Program in Healthcare Management Starts on Jun 13, 2024 Get Details Known as the world's "ostrich capital", Oudtshoorn is nestled in the semi-arid Little Karoo valley just inland from the southern coast, and is home to a few hundred thousand people and about as many of the giant flightless birds. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Indonesia: New Container Houses (Prices May Surprise You) Container House | Search ads Search Now Undo "We just don't know how bad the impact will be, but positive it wouldn't be," said ostrich farmer Laubscher Coetzee of the tariffs expected to kick in on August 1 after South Africa appeared unable to negotiate a new trade deal with Trump. More than half of the global supply of ostrich-derived products -- from feathers to leather and meat -- comes from nearly 200 farmers around Oudtshoorn who are joined in the Cape Karoo International (CKI) group, said its managing director Francois de Wet. Live Events South Africa as a whole supplies about 70 percent of the world's production, he said. Luxury handbag manufacturers in France and Italy are among the CKI's main clients. It also ships 20 percent of its ostrich leather to top Texas bootmakers such as Lucchese, Justin and Rios of Mercedes. Best for boots Ostrich is "the best skin to build boots", according to Ryan Vaughan, CEO of the Rios of Mercedes manufacturer, which was set up in Texas in 1853. "It moulds and forms to your foot. It is extremely durable. It has a lot of natural oils in it so you don't have to care for it very much," he said in a video posted in June. Another iconic brand, Justin, boasts its celebrated boots are "made in USA with global parts". And legendary bootmaker Lucchese told AFP that it had handmade its footwear in Texas for 141 years but had to "look beyond our borders for additional partners and raw materials as needed". "At this time, we are still deciphering the impacts of the current tariffs on our products and production," it said in a statement. De Wet from the CKI said he believed the South African supply of ostrich leather to the US manufacturers did not run counter to a push by the Trump administration for production to be brought home. The United States did not have enough ostriches to provide the required leather, he said. "We export the raw material, the ostrich leather. They can't produce it from local ostriches in the US. They don't have them," he told AFP. "They do all the value-adding in the United States," he said. "So therefore, in terms of the pure definition of what the Trump administration would like to see, in this case, we do it already." Shared cost The soft skins, recognisable by spots left by the large ostrich feathers, are currently sold to American manufacturers for around $20 a square foot. "We exported more than the usual volume of ostrich leather to the US in the past two-three months, so we have a little bit of a buffer," said de Wet. "For the moment we don't expect any layoffs in the short term," he said. But "in the long term, if we have to pick up the full tariff , it will definitely ... cause a shrinkage of our business." The consumer could also not be expected to pay an extra 30 percent for the already pricey boots, he said. "So the tariff will have to be split between the exporter... and the importer, and preferably also a part paid by the end consumer." It is the unique climate of the Little Karoo, which gets less than 400 millimetres (nearly 16 inches) of rain a year, that makes it ideal for ostrich rearing, said Coetzee, a fourth-generation Oudtshoorn farmer. "That is the reason the ostrich industry is still here 200 years after (it started)," he said. His great-grandfather built the family home in 1896, when the price of ostrich feathers rivalled that of gold because of their value to the women's fashion industry. The extravagant "ostrich palaces" of the time are a reminder of the industry's previous major crisis, when the market collapsed in the early 1900s as the arrival of the low-roofed motor car ended the fashion for high-feathered hats.
Bloomberg
03-07-2025
- Business
- Bloomberg
Omers-Igneo Group, Hong Kong's CKI Vie for UK Grain LNG Terminal
By , Priscila Azevedo Rocha, and Vinicy Chan Save CK Infrastructure Holdings Ltd. and a consortium that includes Ontario Municipal Employees Retirement System are the final bidders for one of Europe's largest liquefied natural gas terminals being sold by National Grid Plc, according to people familiar with the matter. Hong Kong-based CKI and the Omers- Igneo Infrastructure Partners consortium are in the last round of bidding for the LNG terminal at the Isle of Grain in the UK, the people said. A deal could give the Grain LNG terminal an equity value of about £2 billion ($2.7 billion), the people said. A bidding group led by Centrica Plc has dropped out from the process, said the people, who asked not to be identified as the information is private.
Daily Mail
17-06-2025
- Business
- Daily Mail
Ban Chinese companies from investing in British water utilities, ministers urged
Ministers are being urged to block Chinese firms from investing in water utilities after they were banned from involvement with the Sizewell C nuclear plant. Environment Secretary Steve Reed has been warned that allowing companies based in China or Hong Kong to buy crucial utilities would be 'negligent'. Energy Secretary Ed Miliband last week banned Chinese investment in the Sizewell C nuclear plant amid growing concerns over the country's involvement in key UK infrastructure. And it followed demands from CKI, which is owned by Hong Kong billionaire Li-Ka-shing and already holds a majority stake in Northumbrian Water, to be allowed to bid for Thames Water. The struggling utility was plunged further into crisis earlier this month after American private equity giant KKR – the Government's preferred bidder – abandoned a £4bn rescue plan. KKR's U-turn – which sources said was due to concerns about the risk of political interference – fuelled fears that taxpayers could be forced to bail out Britain's biggest water company. Environment Secretary Steve Reed has been warned that allowing companies based in China or Hong Kong to buy crucial utilities would be 'negligent' Tory MP Nick Timothy said Chinese companies should not be allowed to invest in Thames Water. In a letter to Reed, seen by the Mail, Timothy said Miliband's decision was 'correct, given the threat posed by China to the UK and the wider west'. He said: 'It would be negligent to hand over yet more of our critical national infrastructure on top of China's already extensive footprint. 'In light of the Government's ban on Chinese investment in nuclear power, will you impose a similar ban on further Chinese investment in the water sector?' Companies in mainland China 'are under various obligations to the Chinese state, such as requirements to support, assist and cooperate with national intelligence efforts', he said. He argued that those based in Hong Kong 'also pose a serious risk, since they are now subject to authoritarian National Security Laws which have increased Beijing's reach into the territory'.
