Takealot will continue to sell clothes in its online store, following the merger of Spree and Superbalist.
The company announced this week that the Spree brand will fall away and the company will fold into Superbalist, creating a stronger fashion ecommerce player.
The companies stated that the combined business will be positioned as “the largest player in South African online fashion”.
Takealot owns 49% of the new business and has management control.
Takealot Group CEO Kim Reid previously told MyBroadband that the two businesses will fall under a new entity, FashionCo.
The move to combine Spree and Superbalist makes sense, with the companies competing for a similar market share in South Africa.
Takealot said it also predicts double digit year-on-year growth for the new entity.
The predicted growth combined with the recent merger has raised questions about Takealot’s future in the online clothing game, however, as the company also offers clothes in its online store.
Particularly, will it continue to sell clothes while aiming to grow Superbalist?
Luke Jedeikin, co-CEO of Superbalist, told MyBroadband that Takealot will continue to sell clothes.
“Superbalist will continue as the Takealot group’s fast fashion business. The merchandise mix will cater to all South African shoppers with basics, classics, high fashion, street gear, and plus-size ranges all being part of the extensive offering,” said Jedeikin.
Takealot will continue to offer clothing lines based mainly on enduringly popular styles and ranges, said Jedeikin.
The CEO also answered questions about Superbalist’s plans for the future, of which opening physical retail stores is not on the agenda.
Instead, their focus will be on increasing market share and customer base, while expanding their range of clothing and brands.