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Steinhoff

OVERALL

Owned
ZAF
Rating
Criticisms

Household goods

Diversified manufacturer and marketer of furniture and other household goods whose operations cover Africa, Europe, India, and the Pacific Rim. Australian assets include Freedom furniture, Best & Less and Harris Scarfe. Purchased Pepkor Holdings in 2014 for $6.7 billion.

Steinhoff International Holdings Ltd   ZAF     website   email      

> About the Ratings

Company Assessment

PRAISE CRITICISM INFORMATION
Steinhoff International Holdings Ltd
Business Ethics Accounting scandal
In December 2017 Steinhoff went from having a market capitalisation of $US19 billion to $US1.9 billion in the space of a few days, after it was discovered that several years of audited accounts could not be trusted.
Source: news article (2018)
Business Ethics 11.4% in Newsweek Green Ranking 2017
This company received a score of 11.4/100 in the Newsweek Green Ranking 2017, which ranks the world's largest publicly traded companies on eight indicators covering energy, greenhouse gases, water, waste, fines and penalties, linking executive pay to sustainability targets, board-level committee oversight of environmental issues and third-party audits. Ranking methodology by Corporate Knights and HIP Investor.
Source: Newsweek (2017)
Business Ethics Corporate responsibility claims
This company has a number of corporate responsibility claims on its website.
Source: company website (2014)
Business Ethics Insider trading allegations
This company faced criticism over it's 2014 purchase of Pepkor when directors bought shares without disclosing a deal was imminent. The company denies any wrongdoing.
Source: news article (2014)

> About the Icons

Company Details

Type Public company
Revenue 11 billion USD (2014)
Employees 55,876 (2014)
Subsidiaries Greenlit Brands Pty Ltd 

Furniture & homewares retail

Formerly known as Steinhoff Asia Pacific, it changed its name to Greenlit Brands in 2018 while its parent company faced scrutiny for accounting irregularities. Operates 319 stores across Australia and New Zealand, and 8 factories across Australia, China and Vietnam. Sold its general merchandise division to Allegro Funds in 2019, including the Best & less, Harris Scarfe, Debenhams and Postie retail chains.


Pepkor Holdings Pty Ltd (92% owned) 

Investment holding company

Established in 1965. Manages a portfolio of budget retail chains selling predominantly clothing, footwear and textiles. Acquired Australian retailers Best&Less in 1998 and Harris Scarfe in 2012. Bought by South Africa's Steinhoff International in 2014.

Contact Details

Address Johannesburg, South Africa
Email info@steinhoff.co.za
Website www.steinhoffinternational.com

Products / Brands

Greenlit Brands
Freedom Homewares Stores


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