South African e-retail space to witness Superbalist and Spree merger
Category: #retail  By Pankaj Singh  Date: 2018-06-21
  • share
  • Twitter
  • Facebook
  • LinkedIn

South African e-retail space to witness Superbalist and Spree merger

Retail behemoths Superbalist and Spree have apparently announced their merger and will be trading as a single entity, effective from July 1. Eminent names in South Africa’s online retail segment, the companies will fuse their operations and brand into one giant online platform for retail products.

For the record, Superbalist is an online fashion retailer selling clothing and lifestyle products primarily targeting the South African youth populace. It is owned by leading ecommerce company Takealot, which will be running the new entity post-merger. Spree is another clothing e-retailer that offers top local as well as international products for women, men and kids and is termed as South Africa’s most fashionable online store. Spree is owned by Media24, a subsidiary of the multinational internet & media company Naspers, headquartered in Cape Town.

Interestingly, both Takealot and Media24 fall under the Naspers group as a large percentage of stake in Takealot is held by Naspers, records confirmed.

Sources at Superbalist and Spree released a joint statement stating that there is no operational integration between the two companies and the businesses run their own sourcing and buying, marketing, technical functions, warehousing and logistical functions. The two brands target a similar consumer base within South Africa with differences in demographic and customer segment. The merger of these companies will create a larger, better focused platform to develop a significant presence in online retail, apparel and footwear segment, the statement further indicated.

Kim Reid, the CEO of Takealot, expressed his appreciation regarding the merger and believes that it creates an opportunity to accelerate the online fashion market within South Africa.

The newly formed company will have its logistics and daily business operations handled by Takealot which will hold a 49% share, while the remaining 51% will be owned by Media24.



About Author

Pankaj Singh

Email: [email protected]   

Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

Read More

More News By Pankaj Singh

Epizyme gets FDA approval for TAZVERIK™ to treat epithelioid sarcoma
Epizyme gets FDA approval for TAZVERIK™ to treat epithelioid sarcoma
By Pankaj Singh

Epizyme, Inc., a renowned biopharmaceutical company developing new epigenetic therapies, has reportedly announced that the United States Food and Drug Administration has granted the accelerated approval of the company&...

PayPal and UnionPay partner to expand their global consumer base
PayPal and UnionPay partner to expand their global consumer base
By Pankaj Singh

Digital payment applications have simplified cashless transactions by offering payment options in both offline and online mode. Within a short span of time, the digital payment industry has seen significant growth, wit...

Eli Lilly and Company to build a manufacturing unit in North Carolina
Eli Lilly and Company to build a manufacturing unit in North Carolina
By Pankaj Singh

Global pharmaceutical firm, Eli Lilly and Company has recently revealed plans to create over 460 new jobs by investing nearly $470 million in Durham, North Carolina. Reportedly, the project would introduce a brand new ...