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| Steinhoff was founded in 1964 in Germany as a trading company that sourced product in eastern Europe and sold this into the developed markets of western Europe. TodaySteinhoff has evolved into a multi-national company that remains focused on its original eastern and western European markets, with its integrated supply chain incorporating the Pacific Rim and southern Africa. Steinhoff International Holdings Limited was listed in 1998 on the Johannesburg Stock Exchange (the JSE Limited) and forms part of the JSE Top 40 index, the JSE Industrial 25 index and is included on the JSE Socially Responsible Investment (SRI) Index. Steinhoff International is an integrated retailer that manufactures, sources and retails furniture and household goods in Europe, Africa and the Pacific Rim. In addition, the group owns diversified industrial businesses in southern Africa providing specialist supply chain and logistics services, timber products and other raw materials across diverse industries. These operations are underpinned and supported by a centralised group services team and a corporate responsibility structure. Owning key parts of the household goods supply chain has resulted in sustained growth in both revenues and margin. With significant expertise and influence over the supply chain our underlying operations are able to supply goods and services at competitive prices, and high customer service standards. Our manufacturing and sourcing strategy is focused on manufacturing and sourcing in low-cost markets. Our world class distribution and warehousing infrastructure remains a key competitive advantage and underpins our entire business model. This provides us with the ability to control costs and excel in customer satisfaction within our retail segments and services we provide. We operate in a dynamic global environment that is subject to constant change. The flexibility within our vertically integrated supply chain, coupled with our geographically diverse business model allows our underlying businesses to change with the business environment and protect our ability to provide goods and services at competitive prices. Operating in many regions, we are not overly reliant on any particular economy in terms of supplies and product sources, nor in terms of customer concentration. Steinhoff now operates across several continents. We can be found in many countries – the UK, continental Europe, Africa, India, Asia, Australia and New Zealand – and we employ approximately 55 000 people. |