Laurence Wernars has a success story that mirrors the rise of many great business leaders.
From a modest, middle-class background, he built his clothing empire from the ground up through hard work and determination.
Laurence likes to have his horses close (Pic – JC Photos)
As a racehorse owner, his success on South African tracks has grown almost in parallel with his achievements in the business world.
He is respected and revered not only for his prowess in the retail sector, but for having kept his feet firmly on the ground.
He is as unassuming and approachable today as he was when he started his career as a fabric salesman in 1984.
Laurence had aspirations for a university education, but financial constraints made enrolment impossible. When he was in Standard 6, his late father lost the family’s tomato farm in the old Northern Transvaal region of Duiwelskloof (Modjadjiskloof), because it was impossible to compete with bigger, neighbouring farms.
After matric, Laurence completed his military training and, in 1983, joined Scotford Mills as a sales representative. After a few years he moved on to the former market leader, SA Clothing.
Laurence told: “This company was owned by Martin Sternberg (incidentally a prominent racing man at the time) and Abe Dubin. I was earning a 7.5% commission and one day they called me in and said, “Your commission is more than the salaries paid to our directors!” I said, “Well, yes, but I don’t have an annual profit share of the company!”
Having dealt closely with the major clothing retailers, including Edgars and the old Sales House, Laurence decided to take a chance by venturing out on his own. He founded ‘Beaver Canoe’, selling men’s clothing, with the Canadian Maple Leaf as its logo. He had to rely on a bank overdraft of R10,000 to start on a wing and a prayer, but the business boomed. “I bought and sold Beaver Canoe for a tidy profit and at age 36 I was on my way with enough money to take life easy.”
With his keen eye for business, Laurence quickly realised that early retirement wasn’t in his cards. He was determined to build something substantial, and set out on a new path with renewed purpose.
He founded Studio 88, retailers of branded leisure, lifestyle sporting apparel, followed by a series of successful spin-offs, including Skipper Bar, Side Step, John Craig, and several Adidas stores. As the new millennium unfolded, the business expanded rapidly, growing into a nationwide presence with 960 stores.
In 2022, Laurence and his partners, RMB Ventures, sold a 70% stake to the listed Mr Price Group, marking the culmination of his entrepreneurial journey.
Reflecting on his success, he offered this advice to start-up entrepreneurs: “Follow your dreams. If you believe you can make it, and tell yourself that you will do so, you will make the right decisions that will take you to your goals.”
Laurence Wernars (right) with Johan Janse van Vuuren and Gavin Lerena (Pic – JC Photos)
Over the next several years, Laurence had a handful of decent runners that won races, here and there.
But horses, breeding and racing became more important as a sport and a hobby when he joined forces with Johan Janse van Vuuren in 2012.
“Johan had cut his teeth under top trainer Geoff Woodruff and I believed he was the right young trainer to partner with. I made the right decision. Johan has delivered top results for us and I’ve learnt a lot from him about racing, form and pedigrees.”
Laurence owned a number of top-level runners between 2012 and 2020, including Divine Odyssey, Doosra, Second Base, Irish Pride and the superb New Predator.
Then there was Mighty High, who beat Celtic Sea in the 2018 Gr1 Allan Robertson Championship.
At this juncture, Laurence asked up-and-coming bloodstock expert Justin Vermaak to streamline his racing and breeding activities and said: “Justin changed the game for me. He took my racing operation to a new level.”
Their association yielded Grade 1 success with the stalwart Puerto Manzano, a ‘cheapie’ Justin had come across in Argentina, in 2019. He’s won 11 races to date, including the 2022 Gr1 Summer Cup.
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