US billionaire Mark Cuban invests in South African Veldskoen
The by Cheryl Kahlaiconic Veldskoen brand is going global.
South africa’s Veldskoen is going global. The brand received a huge financial boost from Shark Tank investor Mark Cuban, the owner of the NBA’s Dallas Mavericks.
Speaking to John Maytham, the CEO and co-founder of Veldskoen, Nick Dreyer said Veldskoen “is a great South African product and a great South African story.”
He adds that the team is “incredibly excited” about the future. Cuban and his business partner will have a 50% stake in Veldskoen through their investment group in the States.
Dreyer said Cuban was excited when he saw the product. Cuban is also in business with South African entrepreneurs Steve and Angela Watts, who are among the brand’s backers in the States.
Steve initially partnered with Cuban back in 2016 when his company, Slyde Handboards, became a runaway success, earning profits of up to $1.4m just two years after securing the prestigious investment.
Proudly South African
Maytham asked if Veldskoen manufacturing will stay in SA, or would manufacturing move to the States as well. Dreyer said the company is “100% committed to manufacturing in South Africa.” He adds:
“All our products are made here. Our teams are here. Our design team is here. We don’t have any intention of trying to get the business to manufacture or scale outside of South Africa. It’s a South African product, and it always should be.”
He jokes that there are many different ways they pronounce it in the States. “Vellie” is quite popular and Dreyer says Americans are “currently calling it ‘Vellie’ with great enthusiasm and passion.” He adds: “These guys are loving it.”
As for the other pronunciations, Dreyer jokes that he’d rather not repeat their attempts. Dreyer also co-founded DOPR (Digital Online Retail Products), an “e-commerce driven and audience-building incubator.”
IOL reported that Prince Harry and Westworld star Thandie Newton are just some of the celebrities who have been spotted wearing a pair of vellies.