The once-lauded entrepreneur, Lekau Freddy Sehoana, founder of the popular streetwear brand Drip, is facing a stark reality check as the Johannesburg High Court auctions off his luxurious furniture to recover over R400,000 in unpaid spousal and child maintenance.
The auction, held on Thursday morning in Midrand, saw a diverse collection of items from Sehoana's Fourways mansion go under the hammer, including everything from a Smeg kettle and a large Jesus statue to a 65-inch television and a nine-piece dining room suite.
The furniture was repossessed last month by the sheriff of the Johannesburg High Court after Sehoana failed to comply with a court order requiring him to pay R165,000 in spousal maintenance and R35,000 in child maintenance to his ex-wife, Lebogang Sehoana, formerly Machaba.
The court order also stipulated that Sehoana pay R44,000 in unpaid school fees for his child and R200,000 in legal costs to his ex-wife. According to Lebogang, Sehoana has not paid a single cent since February, prompting the court to take action.
The auction comes just days before Drip's highly anticipated fifth-anniversary celebration, adding a layer of irony to the situation. It also follows a series of financial setbacks for Sehoana, including the closure of several Drip stores due to rent arrears.
A source close to the situation revealed that when the sheriff arrived at Sehoana's mansion to seize the furniture, the Drip owner was nowhere to be found. He had allegedly locked himself inside the house, leaving his staff to deal with the situation.
However, the source said that Sehoana didn't waste time replacing the repossessed furniture, with new items being delivered as soon as the sheriff left.
The auction itself was a stark reminder of the financial struggles Sehoana is facing. While the exact amount recouped from the sale is yet to be confirmed, it is clear that the auction was a significant blow to the once-successful entrepreneur.
Here is a list of some of the items that were sold at the auction:
- Fridge: R2 100
- Fridge plus freezer: R11 000 (for both)
- Washing machine: R5 600
- Dryer: R4 300
- Smeg kettle: R2 400
- Toaster: R1 700
- Blender: R2 600
- Large, locked safe: R1 100
- Grey lounge suite: R9 100
- Lounge glass table: R8 300
- Two swinging garden chairs: R6 200
- Three couches: R8 000 to R15 000 each
- Fishing rods
- Outdoor gas heater
- 10kg gas bottle
- Baby cot and toys
- Large Jesus statue art piece
- Photo stands
- Lambs
- Travelling bags
- TV stand
- Free-standing headboard
- Three televisions: 65 inches (R25 000), 85 inches (R10 500), and 32 inches (R2 000)
- Green nine-piece dining room suite: R11 600
- Esther Mahlangu large painting: R15 500
Sehoana, who could not be reached for comment, has built a remarkable business empire from humble beginnings. As a child, he made his first pair of sneakers from recycled materials, a testament to his entrepreneurial spirit. He went on to create Drip, a lifestyle sneaker brand that has gained national and international recognition.
From opening his first Drip store in 2020, Sehoana has grown his business to include 25 brick-and-mortar stores and an online store, employing over 300 people. Drip is ranked number 65 on Africa's Top 100 Most Admired Brands and number 2 in South Africa.
Sehoana, a 34-year-old with a NQF Level 3 in civil engineering, attributes his success to his ability to leverage social media for marketing, manage cash flow, and identify talented individuals who can help his business grow. He is driven by a deep desire to succeed, fuelled by "the fear of going back to poverty and seeing other young people work on our dream, the township dream."
However, the recent events surrounding the auction highlight the challenges that even the most successful entrepreneurs can face. Sehoana's story serves as a reminder that financial stability is a constant struggle, even for those who have achieved great success. The auction also raises questions about the responsibility of successful individuals to their families and the consequences of failing to meet financial obligations.
