Sign in
Download Opera News App





Business Management analysis

It ended in tears for Drip sneaker owner

The story of Drip Footwear dates back to 2003, were founder Mr Lekau Sehoana had to make the most out of what he had, which sparked innovation and creativity. Growing up in an informal settlement of Ivory Park, Lekau Sehoana, didn't have any shoes to wear and he had to improvise.

Although the vision and scathing comes a long way, the sneaker gained its popularity and market availability from last year 2020.

Now that the sneaker brand is growing fast and Lekau is opening more drip store around the country, from cape Town to Limpopo with the plan to venture the world, it ended in tears for his since there is someone dragging in court.

Popular South African sneaker brand Drip has been muddied by a share-ownership battle between its founder and a Pretoria investor, who wants a third of his business after he had paid him back more than half a million for a loan of R45 700. It looks like now it has to be a pay back time.

A person who dragged Drip owner in court said that "In light of the breach and as per the contract, I’m entitled to 34% of Drip Footwear company calculated from the 1st of August 2020, being the date of the breach until the day of the fourth day of September 2020, being the date which I instructed my attorney to execute a letter of demand to have the second respondent issue the demanded shares of the company into my name, the demand which the second responded ignored.”

Content created and supplied by: Mukona94 (via Opera News )

Drip Drip Footwear Ivory Park Lekau Sehoana Limpopo


Load app to read more comments