{"id":3454,"date":"2022-06-22T11:07:00","date_gmt":"2023-06-15T09:00:24","guid":{"rendered":"https:\/\/famousbrands.co.za\/iar2023\/?page_id=3454"},"modified":"2023-06-27T11:46:18","modified_gmt":"2023-06-27T09:46:18","slug":"introducing-our-2023-report","status":"publish","type":"page","link":"https:\/\/famousbrands.co.za\/iar2023\/our-2023-report\/introducing-our-2023-report\/","title":{"rendered":"Introducing our 2023 <span>report<\/span>"},"content":{"rendered":"<h2>Our reporting suite and principles<\/h2>\n<p class=\"blurb\">We performed strongly against our strategy and continued to grow and develop our brands.<\/p>\n<p>This 2023 Integrated Annual Report (IAR or this report) is our primary report to stakeholders. The report covers the 2023 financial year from  1 March 2022 to 28 February 2023. It describes the performance of Famous Brands Limited (Famous Brands or the Company), its subsidiaries (together referred to as the Group), and its associates in all territories where the Company operates. These territories are South Africa (SA), the rest of Africa and the Middle East (AME) and the United Kingdom (UK).<\/p>\n<p>The scope of this report covers our core operations\u2019 financial and non-financial performance. We report on strategy, the six capitals upon which we rely and impact, and the opportunities, risks and outcomes attributable to or associated with our key stakeholders, who significantly influence our ability to create value.<\/p>\n<p>For the most part, unless stated otherwise, statistics in this report relate to the SA business (excluding our associates). Statistics related to a specific geographic territory are denoted as such.<\/p>\n<p>The IAR, Group Annual Financial Statements (AFS), Notice of Annual General Meeting (AGM), and other financial results-related information are available online at <a href=\"https:\/\/www.famousbrands.co.za\/investor-centre\/financial-results\/\" class=\"link\">www.famousbrands.co.za\/investor-centre\/financial-results\/<\/a>. <\/p>\n<div class=\"box-warm bs\">\n<h2 class=\"orange\">Improving our reporting <\/h2>\n<p>We are committed to transparent reporting and high-quality disclosures. We acknowledge that further improvements are possible, and we invite feedback to be sent to <a href=\"mailto:investorrelations@famousbrands.co.za\" class=\"link\">investorrelations@famousbrands.co.za<\/a>.<\/p>\n<\/div>\n<h3>Materiality of information included<\/h3>\n<p>The Board approved the management\u2019s bases for determining materiality for the purpose of deciding which information should be included in this report. This report provides information on all matters we believe are material to our value creation process. Our <a href=\"https:\/\/famousbrands.co.za\/iar2023\/value-creation-process\/operating-context\/\" class=\"link\">operating context<\/a>, the legitimate interests of <a href=\"https:\/\/famousbrands.co.za\/iar2023\/value-creation-process\/stakeholder-management\/\" class=\"link\">key stakeholders<\/a> and our <a href=\"https:\/\/famousbrands.co.za\/iar2023\/value-creation-process\/risk-management\/\" class=\"link\">key risks<\/a> were considered in determining information deemed material for inclusion in this report. <\/p>\n<p>We define <a href=\"https:\/\/famousbrands.co.za\/iar2023\/strategic-intent\/an-overview-of-our-strategy\/\" class=\"link\">strategic matters<\/a> as those which are most material to our formulation and execution of strategy and those that have the potential to significantly affect our ability to create stakeholder value and contribute to the future sustainability of the Group.<\/p>\n<h3>Reporting frameworks and compliance<\/h3>\n<p>This report was prepared according to relevant regulations, standards and best practices. Famous Brands aligns its reporting with the following reporting requirements and principles:<\/p>\n<ul>\n<li>The International Integrated Reporting Framework, 2021<sup>1<\/sup>.<\/li>\n<li>King IV Report on Corporate GovernanceTM for South Africa, 2016 (King IV)<sup>2<\/sup>.<\/li>\n<li>International Financial Reporting Standards (IFRS) and the International Financial Reporting Interpretations Committee\u2019s (IFRIC) Interpretations.<\/li>\n<li>The Companies Act, No. 71 of 2008, as amended (Companies Act).<\/li>\n<li>The Johannesburg Stock Exchange (JSE) Listings Requirements.<\/li>\n<\/ul>\n<table width=\"100%\" class=\"footnote\">\n<tr>\n<td width=\"15px\" valign=\"top\"><sup>1<\/sup><\/td>\n<td>The International Integrated Reporting Framework is now part of the IFRS Foundation as the International Integrated Reporting Council is no longer in existence. <\/td>\n<\/tr>\n<tr>\n<td width=\"15px\" valign=\"top\"><sup>2<\/sup><\/td>\n<td>Copyright and trademarks are owned by the Institute of Directors in South Africa NPC and all of its rights are reserved.<\/td>\n<\/tr>\n<\/table>\n<h3>Assurance obtained <\/h3>\n<p>The Group\u2019s combined assurance model leverages the assurance obtained from management, and internal and external assurance providers, while a strong ethical environment and internal controls ensure compliance.<\/p>\n<p>We rely on our internal controls and management review to assure our internal financial and operational information.<\/p>\n<p>We are audited by KPMG, which signs off on an independent audit opinion on the AFS. Our B-BBEE certificate is verified by Honeycomb BEE Rating. Our annual greenhouse gas (GHG) emissions are assessed and verified by The Carbon Report.<\/p>\n<div class=\"box-warm bs\">\n<h2>Board responsibility statement<\/h2>\n<p>The Board, assisted by the Audit and Risk and Social and Ethics Committees, acknowledges its responsibility for ensuring the integrity of the IAR and has applied its collective mind in preparing it. <\/p>\n<p><strong>The process we followed <\/strong><\/p>\n<div class=\"board-box bs\">\n<div class=\"holder\">\n<div class=\"first o-num\">1.<\/div>\n<div class=\"second\">This report was drafted from detailed internal management and Board reports and interviews with senior management and Board members.<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"arrow\">\n\t\t<img src=\"https:\/\/famousbrands.co.za\/iar2023\/images\/arrow-down-orange.png\" alt=\"\">\n\t<\/div>\n<div class=\"board-box bs\">\n<div class=\"holder\">\n<div class=\"first o-num\">2.<\/div>\n<div class=\"second\">Content owners and the Group Executive committee (Exco) review the report before it is submitted to the Audit and Risk and Social and Ethics Committees for further review.<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"arrow\">\n\t\t<img src=\"https:\/\/famousbrands.co.za\/iar2023\/images\/arrow-down-orange.png\" alt=\"\">\n\t<\/div>\n<div class=\"board-box bs\">\n<div class=\"holder\">\n<div class=\"first o-num\">3.<\/div>\n<div class=\"second\">The Board performs a final review  of the report and approves it for release to stakeholders.<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>The Board believes that the report has, in all material respects, been presented according to the International Integrated Reporting Framework and addresses the Group\u2019s material matters.<\/p>\n<p>The Board authorised this report for release on 21 June 2023.<\/p>\n<div class=\"row\">\n<div class=\"col-md-6\">\n\t\t  <img src=\"https:\/\/famousbrands.co.za\/iar2023\/images\/santi-sig.png\" alt=\"\"><\/p>\n<p class=\"dir_name\">Santie Botha<\/p>\n<p class=\"dir_title\">Independent Chairman<\/p>\n<\/p><\/div>\n<div class=\"col-md-6\">\n\t\t  <img src=\"https:\/\/famousbrands.co.za\/iar2023\/images\/darren-sig.png\" alt=\"\"><\/p>\n<p class=\"dir_name\">Darren Hele<\/p>\n<p class=\"dir_title\">CEO<\/p>\n<\/p><\/div>\n<div class=\"clearfix\"><\/div>\n<\/p><\/div>\n<\/div>\n<h2>Forward looking statements disclaimer<\/h2>\n<p>This report contains forward looking statements, which are based on assumptions and best estimates made by management regarding the Group\u2019s future performance. Such statements are, by their nature, subject to risks and uncertainties, which may result in the Group\u2019s actual performance in future being different from that expressed or implied in any forward looking statements. The Group\u2019s external auditors have not audited these statements.<\/p>\n<p>The Group neither accepts any responsibility for any loss arising from the use of the information contained in this report nor does it undertake to publicly update or revise its forward looking statements.<\/p>\n<h2>Navigating this report<\/h2>\n<div class=\"nav-rep\">\n<div class=\"pad10\">\n<h3>Business processes and activities<\/h3>\n<div class=\"nav-icons\">\n\t\t\t<img class=\"ni\" src=\"https:\/\/famousbrands.co.za\/iar2023\/images\/p3-1.png\" alt=\"\"><br \/>\n\t\t\t<img class=\"ni\" src=\"https:\/\/famousbrands.co.za\/iar2023\/images\/p3-2.png\" alt=\"\"><br \/>\n\t\t\t<img class=\"ni\" src=\"https:\/\/famousbrands.co.za\/iar2023\/images\/p3-3.png\" alt=\"\"><br \/>\n\t\t\t<img class=\"ni\" src=\"https:\/\/famousbrands.co.za\/iar2023\/images\/p3-4.png\" alt=\"\">\n\t\t<\/div>\n<p>We included icons for our four main business processes and operating activities, which are explained in <a href=\"https:\/\/famousbrands.co.za\/iar2023\/value-creation-process\/creating-value-aligned-with-our-vision-and-values\/\" class=\"link\">our business model<\/a>.<\/p>\n<\/p><\/div>\n<div class=\"warm\">\n<h3>Key strategic matters<\/h3>\n<div class=\"holder\">\n<div class=\"first\"><img src=\"https:\/\/famousbrands.co.za\/iar2023\/images\/p3-5.png\" alt=\"\"><\/div>\n<div class=\"second\"><strong>Improving our operational efficiencies<\/strong><\/div>\n<\/p><\/div>\n<div class=\"holder\">\n<div class=\"first\"><img src=\"https:\/\/famousbrands.co.za\/iar2023\/images\/p3-6.png\" alt=\"\"><\/div>\n<div class=\"second\"><strong>Enhancing our financial performance<\/strong><\/div>\n<\/p><\/div>\n<div class=\"holder\">\n<div class=\"first\"><img src=\"https:\/\/famousbrands.co.za\/iar2023\/images\/p3-7.png\" alt=\"\"><\/div>\n<div class=\"second\"><strong>Prioritising our franchise partners<\/strong><\/div>\n<\/p><\/div>\n<div class=\"holder\">\n<div class=\"first\"><img src=\"https:\/\/famousbrands.co.za\/iar2023\/images\/p3-8.png\" alt=\"\"><\/div>\n<div class=\"second\"><strong>Developing our people; ongoing commitment to transformation<\/strong><\/div>\n<\/p><\/div>\n<div class=\"holder\">\n<div class=\"first\"><img src=\"https:\/\/famousbrands.co.za\/iar2023\/images\/p3-9.png\" alt=\"\"><\/div>\n<div class=\"second\"><strong>Leading in the categories we compete in<\/strong><\/div>\n<\/p><\/div>\n<div class=\"holder\">\n<div class=\"first\"><img src=\"https:\/\/famousbrands.co.za\/iar2023\/images\/p3-10.png\" alt=\"\"><\/div>\n<div class=\"second\"><strong>Optimising capital management<\/strong><\/div>\n<\/p><\/div>\n<div class=\"holder\">\n<div class=\"first\"><img src=\"https:\/\/famousbrands.co.za\/iar2023\/images\/p3-11.png\" alt=\"\"><\/div>\n<div class=\"second\"><strong>Ensuring regulatory compliance<\/strong><\/div>\n<\/p><\/div>\n<p>We track our performance against strategy with key performance indicators from our seven key strategic matters, as explained <a href=\"https:\/\/famousbrands.co.za\/iar2023\/strategic-intent\/an-overview-of-our-strategy\/\" class=\"link\">here<\/a>. <\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Our reporting suite and principles We performed strongly against our strategy and continued to grow and develop our brands. This 2023 Integrated Annual Report (IAR or this report) is our primary report to stakeholders. The report covers the 2023 financial year from 1 March 2022 to 28 February 2023. It describes the performance of Famous&#8230;  <a href=\"https:\/\/famousbrands.co.za\/iar2023\/our-2023-report\/introducing-our-2023-report\/\" class=\"more-link\" title=\"Read Introducing our 2023 <span>report<\/span>&#8220;>Read more &raquo;<\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"parent":2881,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_links_to":"","_links_to_target":""},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Introducing our 2023 report - Famous Brands IAR 2023<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Introducing our 2023 report - Famous Brands IAR 2023\" \/>\n<meta property=\"og:description\" content=\"Our reporting suite and principles We performed strongly against our strategy and continued to grow and develop our brands. This 2023 Integrated Annual Report (IAR or this report) is our primary report to stakeholders. The report covers the 2023 financial year from 1 March 2022 to 28 February 2023. It describes the performance of Famous... Read more &raquo;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/famousbrands.co.za\/iar2023\/our-2023-report\/introducing-our-2023-report\/\" \/>\n<meta property=\"og:site_name\" content=\"Famous Brands IAR 2023\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-27T09:46:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/famousbrands.co.za\/iar2023\/images\/arrow-down-orange.png\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/famousbrands.co.za\/iar2023\/#website\",\"url\":\"https:\/\/famousbrands.co.za\/iar2023\/\",\"name\":\"Famous Brands IAR 2023\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/famousbrands.co.za\/iar2023\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-ZA\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-ZA\",\"@id\":\"https:\/\/famousbrands.co.za\/iar2023\/our-2023-report\/introducing-our-2023-report\/#primaryimage\",\"url\":\"https:\/\/famousbrands.co.za\/iar2023\/images\/arrow-down-orange.png\",\"contentUrl\":\"https:\/\/famousbrands.co.za\/iar2023\/images\/arrow-down-orange.png\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/famousbrands.co.za\/iar2023\/our-2023-report\/introducing-our-2023-report\/#webpage\",\"url\":\"https:\/\/famousbrands.co.za\/iar2023\/our-2023-report\/introducing-our-2023-report\/\",\"name\":\"Introducing our 2023 report - Famous Brands IAR 2023\",\"isPartOf\":{\"@id\":\"https:\/\/famousbrands.co.za\/iar2023\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/famousbrands.co.za\/iar2023\/our-2023-report\/introducing-our-2023-report\/#primaryimage\"},\"datePublished\":\"2023-06-15T09:00:24+00:00\",\"dateModified\":\"2023-06-27T09:46:18+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/famousbrands.co.za\/iar2023\/our-2023-report\/introducing-our-2023-report\/#breadcrumb\"},\"inLanguage\":\"en-ZA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/famousbrands.co.za\/iar2023\/our-2023-report\/introducing-our-2023-report\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/famousbrands.co.za\/iar2023\/our-2023-report\/introducing-our-2023-report\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/famousbrands.co.za\/iar2023\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Our 2023 Report\",\"item\":\"https:\/\/famousbrands.co.za\/iar2023\/our-2023-report\/presenting-our-2023-report\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Introducing our 2023 report\"}]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Introducing our 2023 report - Famous Brands IAR 2023","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_US","og_type":"article","og_title":"Introducing our 2023 report - Famous Brands IAR 2023","og_description":"Our reporting suite and principles We performed strongly against our strategy and continued to grow and develop our brands. This 2023 Integrated Annual Report (IAR or this report) is our primary report to stakeholders. The report covers the 2023 financial year from 1 March 2022 to 28 February 2023. It describes the performance of Famous... Read more &raquo;","og_url":"https:\/\/famousbrands.co.za\/iar2023\/our-2023-report\/introducing-our-2023-report\/","og_site_name":"Famous Brands IAR 2023","article_modified_time":"2023-06-27T09:46:18+00:00","og_image":[{"url":"https:\/\/famousbrands.co.za\/iar2023\/images\/arrow-down-orange.png"}],"twitter_card":"summary","twitter_misc":{"Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/famousbrands.co.za\/iar2023\/#website","url":"https:\/\/famousbrands.co.za\/iar2023\/","name":"Famous Brands IAR 2023","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/famousbrands.co.za\/iar2023\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-ZA"},{"@type":"ImageObject","inLanguage":"en-ZA","@id":"https:\/\/famousbrands.co.za\/iar2023\/our-2023-report\/introducing-our-2023-report\/#primaryimage","url":"https:\/\/famousbrands.co.za\/iar2023\/images\/arrow-down-orange.png","contentUrl":"https:\/\/famousbrands.co.za\/iar2023\/images\/arrow-down-orange.png"},{"@type":"WebPage","@id":"https:\/\/famousbrands.co.za\/iar2023\/our-2023-report\/introducing-our-2023-report\/#webpage","url":"https:\/\/famousbrands.co.za\/iar2023\/our-2023-report\/introducing-our-2023-report\/","name":"Introducing our 2023 report - Famous Brands IAR 2023","isPartOf":{"@id":"https:\/\/famousbrands.co.za\/iar2023\/#website"},"primaryImageOfPage":{"@id":"https:\/\/famousbrands.co.za\/iar2023\/our-2023-report\/introducing-our-2023-report\/#primaryimage"},"datePublished":"2023-06-15T09:00:24+00:00","dateModified":"2023-06-27T09:46:18+00:00","breadcrumb":{"@id":"https:\/\/famousbrands.co.za\/iar2023\/our-2023-report\/introducing-our-2023-report\/#breadcrumb"},"inLanguage":"en-ZA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/famousbrands.co.za\/iar2023\/our-2023-report\/introducing-our-2023-report\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/famousbrands.co.za\/iar2023\/our-2023-report\/introducing-our-2023-report\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/famousbrands.co.za\/iar2023\/"},{"@type":"ListItem","position":2,"name":"Our 2023 Report","item":"https:\/\/famousbrands.co.za\/iar2023\/our-2023-report\/presenting-our-2023-report\/"},{"@type":"ListItem","position":3,"name":"Introducing our 2023 report"}]}]}},"_links":{"self":[{"href":"https:\/\/famousbrands.co.za\/iar2023\/wp-json\/wp\/v2\/pages\/3454"}],"collection":[{"href":"https:\/\/famousbrands.co.za\/iar2023\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/famousbrands.co.za\/iar2023\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/famousbrands.co.za\/iar2023\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/famousbrands.co.za\/iar2023\/wp-json\/wp\/v2\/comments?post=3454"}],"version-history":[{"count":24,"href":"https:\/\/famousbrands.co.za\/iar2023\/wp-json\/wp\/v2\/pages\/3454\/revisions"}],"predecessor-version":[{"id":4319,"href":"https:\/\/famousbrands.co.za\/iar2023\/wp-json\/wp\/v2\/pages\/3454\/revisions\/4319"}],"up":[{"embeddable":true,"href":"https:\/\/famousbrands.co.za\/iar2023\/wp-json\/wp\/v2\/pages\/2881"}],"wp:attachment":[{"href":"https:\/\/famousbrands.co.za\/iar2023\/wp-json\/wp\/v2\/media?parent=3454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}