TAKEALOT SELLS SUPERBALIST
It seems that it’s not only consumers that are having to sell clothes to make ends meet.
Online retail giant Takealot has sold its online fashion retail arm Superbalist.
The new owners are a local consortium of retail and private equity investors led by Blank Canvas Capital.
The sale took place on 1 September and was announced the following day.
“This strategic acquisition will support Superbalist’s ongoing growth, allowing the Takealot Group to dedicate its efforts to further expanding Takealot and Mr D,” the company said in a statement released to the media.
The company confirmed that it’s still in a good position to gain market share in the very popular world of eCommerce.
“Backed by our parent company, Naspers, we are well-positioned to strengthen our market-leading positions in the eCommerce sector.”
It’s rumoured that Chinese online retailers like Shein and Temu are taking up a massive share of online retail purchases in South Africa, and that share is only increasing.
BusinessTech reports that it’s understood that Takealot’s management feels better positioned to compete against Amazon than Shein and Temu.
The statement continued with Takealot saying “We extend our best wishes to the Superbalist team as they embark on this new chapter in their journey”.
Image credit: IT Web