Drip Footwear, a popular South African sneaker brand founded by Lekau Sehoana in 2019 will close shop.
The High Court has ordered the liquidation after the footwear brand failed to fork out R 20 million for ad services, according to numerous reports.
This has led to the closure of its 14 stores and the layoff of its employees.
The company faced significant financial challenges, including the seizure of approximately R3.5 million by the South African Reserve Bank due to non-compliance with exchange control regulations.
Despite efforts from political figures to save the company, the liquidation process was unavoidable.
It’s a tough time for the employees and the founder, who had built the brand from the ground up.
We stand with our Brother Lekau in these difficult times…
We hope a brother will dust himself and come back stronger Mr Drip…👀🤔💭🇿🇦🙏🏽 pic.twitter.com/yDhe4MZUe6
— RyanNgcobo🕯️🛖🕯️ (@RyanNgcobo_RSA) October 9, 2024
How did Drip Footwear become so popular?
It was the unique branding and design, combined with a stylish and unique sneaker design and a fresh-looking aesthetic that made it popular.
Founded by Sehoana, Drip’s story of humble beginnings and local success struck a chord with many South Africans. Sehoana’s journey from poverty to creating a successful brand inspired many.
Drip leveraged social media platforms effectively to build a strong online presence.
Collaborations with local celebrities and influencers boosted Drip’s visibility and credibility. These endorsements helped the brand gain traction quickly.
Drip was known for its community involvement and initiatives. The brand often engaged in charitable activities and supported local causes, which helped build a loyal customer base.
These factors combined to create a strong brand identity and loyal customer base, propelling Drip to significant popularity in South Africa. If you need more details or specific examples, feel free to ask