Lekau Sehoana, the businessman who founded Drip Footwear which was liquidated last year, has announced that people can expect a sneaker drop in February from a new brand called Drip Sportif.
Sehoana retweeted a tweet from the Drip Sportif X account that said: "REBIRTH."
A post on X (formerly Twitter) from the Drip Sportif account said: "HAPPY NEW YEAR FROM DRIP SPORTIF! Wishing you and yours an epic year ahead, filled with fresh kicks, new vibes, and endless possibilities. And to make it even more exciting, we’re thrilled to announce that DRIP is coming back, reborn, and stronger than ever."
"We’ve been through the fire and came out stronger. New retail partnerships, new heat, and a new era for DRIP. PLEASE MARK FEBRUARY ON YOUR CALENDAR! Our first sneaker drop of the year is around the corner. Please do Stay locked in for updates, and get ready to experience the REBIRTH of DRIP!"
Liquidation
In October 2024, Drip Footwear closed its stores after the company was told in September 2024. that they had to be liquidated by the High Court in Johannesburg.
Wideopen Platform, which specialises in large-impact advertising, took the shoe company to court for unpaid services.
Kim Warren from KWA Attorneys who represented Wideopen in the lawsuit said that Wideopen was owed R20 million for advertising services.
In 2024, the Gauteng MEC for Finance and Economic Development, Lebogang Maile wrote to South African Reserve Bank (Sarb) Governor Lesetja Kganyago, to request a rehabilitative intervention for local company The Drip Group (Pty) Ltd, according to a statement from the Gauteng Department of Economic Development.
The statement said that Drip Footwear is facing non-compliance with domestic tax laws following an investigation initiated by the Financial Surveillance Department (FinSurv) of Sarb and had been ongoing for just over two years.
"Drip is under investigation for the contravention of the provisions of the Exchange Control Regulations, made under section 9 of the Currency and Exchanges Act, 1933 (Act No. 9 of 1933)," the statement said.
IOL Business
REBIRTH!!!! https://t.co/kpHRWwP2t7
— Lekau Sehoana (@LekauSehoana) January 8, 2025