Takealot CEO Kim Reid said potential competition from Amazon or Alibaba entering South Africa concerns him, but he is confident they can hold their own.
Speaking to Bruce Whitfield on Taking Stock, Reid said Takelot currently operates in a market – i.e. South Africa – where the big players do not have operations.
He said Amazon and Alibaba are amazing companies, but Takealot has an advantage as it is on its home turf.
“If you look at what is happening in India today – Walmart has bought out Flipkart and it is competing head-to-head with Amazon,” said Reid.
“There is no reason why you cannot compete against Amazon and Alibaba,” said Reid.
He added that he is not sure what Amazon and Alibaba’s ambitions are in Africa, but highlighted that Africa is a tough place to do business.
Responding to a question whether Amazon or Alibaba entering the local market scares him, Reid said: “It does not scare us, it would concern us”.