Black Middle Class Myth

For any marketer in South Africa it is vitally important to understand the impact that the "new black middle class" has on the economy. This week we carry a feature from the Unilever Institute of Marketing on the findings of a survey they conducted in conjunction with Research Surveys. The study into the size, make up, buying power and mindsets of the so called new black middle class in South Africa has exploded several myths about this crucially important and fast growing segment of the "black market" that is driving much of the country's economic growth at present. Click here to read the findings.

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NEWSBYTES

Fuel prices affecting SA consumers
As worldwide petroleum prices continue to escalate, individual consumers globally are feeling the effects of fuel price increases. Of course in non-producing counties such as South Africa, prices are influenced by both internal and external factors, resulting in dramatic fluctuation.
Full article: CLICK HERE.

New Black middle class: it's economic power
RS, South Africa's leading marketing insights company, in conjunction with the UCT Unilever Institute of Strategic Marketing, has conducted a ground-breaking study into the size, make-up, buying power and mindsets of the so-called new black middle class in South Africa. In so doing, it has exploded several myths about this crucially important and fast growing segment of the "black market" that is driving much of the country's economic growth at present.
Full article: CLICK HERE.

Illova names European Suitors
Illovo Sugar, Africa's top sugar producer, has announced that it is considering bid proposals from Associated British Foods and European agro-industrial cooperative group Tereos. Illovo have said that Associated British Foods, which owns British Sugar, has proposed offering cash for 51% of Illovo shares.
Full article: CLICK HERE.

Pritt maker Henkel joins SA BEE party
German detergent, toiletries, glue and chemical maker Henkel has sold a 26% stake in its South African operations to a black women's investor group, in line with the country's black economic empowerment (BEE) policies.
Full article: CLICK HERE.

SAB get go ahead to purchase Slovakia brewery
SABMiller on Tuesday obtained permission to buy Slovakia's third-largest brewery, Topvar. The $15m takeover is expected to lift SABMiller to the No 1 position among Slovakia's beermakers, overtaking its Dutch rival Heineken.
Full article: CLICK HERE.

GLOBAL NEWS

L'Oreal buys Body Shop
Britain’s well known beauty store The Body Shop is being bought by none other than the world’s largest cosmetics group, L’Oreal Paris for £652m ($1.14bn). The Body Shop has 1900 retail outlets in 50 countries, including South Africa.

Tesco not renewing contract with Woolworths for leisure products
In the UK, Woolworths Group has announced that Tesco has informed Entertainment UK (E.U.K) of its intention not to renew its supply contract for DVDs, music and games products which will now end on April 29, 2007. Under a separate agreement, E.U.K has extended its contract with Tesco for the supply of books until March 2008 and will also continue to support the retailer's online and digital operations.

Major investment program at Boots
Boots has announced a new major investment program in its Boots the Chemist chain as it reinvests a significant part of the GBP1.9 billion (USD3.4 billion) sale from BHI.
Full article: CLICK HERE.