It took three decades to build Ellies into a leading tech brand and just five years of poor leadership to destroy it.
At its height on 16 May 2013, Ellies’ share price traded at over R9.50 and its market capitalisation was R3 billion.
By February 2024, Ellies was in voluntary business rescue and its share price had plummeted to one cent. Two months later, the holding company was in liquidation, and Ellies was being sold for parts.
It didn’t have to end this way. After a period of decline between 2013 and 2019, Ellies adopted a promising strategy to focus on backup power but failed to execute it.
Founded in 1979 by Ellie Salkow, the company started with five employees selling TV aerials in Johannesburg, a…