Italtile Shares Plunge: Giovanni Ravazzotti Loses 83 Million In Just 8 Weeks

Giovanni Ravazzottis Italtile stake has dropped by 83.47 million as the companys shares slide amid weak consumer spending and rising crime.

Italtile stock falls 16.94 over the past eight weeks, dragging market cap below 725 million and raising concerns over profitability.

Ravazzotti's fortune has decreased by 83.47 million since February, yet he remains influential in South Africa's retail and manufacturing sectors.

South African businessman Giovanni Ravazzotti, founder and chairman of Italtile Limited, has seen the value of his stake in the bathroom and home products retailer drop by 83 million as the companys shares continue to slide on the Johannesburg Stock Exchange JSE .

Ravazzotti, who owns 56.46 percent of Italtile, has watched his holdings lose R1.57 billion 83.47 million over the past eight weeks, bringing their total market value below 410 million. The sell-off comes as the company faces economic headwinds, weaker consumer spending, and operational disruptions tied to rising crime rates in South Africa.

This latest slump adds to earlier losses. Between Jan. 15 and Feb. 6 , the value of Ravazzottis stake fell by 31.99 million, dropping from R9.85 billion 527.77 million to R9.25 billion 495.78 million. Investors are growing more concerned about Italtiles profitability, store closures, and long-term growth prospects, keeping pressure on its stock.

Italtile Limited , founded by Giovanni Ravazzotti in 1969, has grown into a major player in South Africas home and construction sector. With brands like Italtile Retail, CTM, TopT, and U-Light, the company has built a strong presence in the market, guided by Ravazzottis leadership.

But rising crime in South Africa is putting pressure on the business. The Gauteng-based retailer and manufacturer of bathroom and home products has been forced to close some stores due to security concerns , pushing up operating costs and disrupting operations. In some cases, Italtile has had no choice but to relocate or shut down stores in high-risk areas to ensure the safety of customers and staff.