Spree, Superbalist merger to create online retail giant
The merger of SA's two leading online fashion brands, Spree.co.za and Superbalist.com, announced in June, has forged ahead successfully.
In a statement, the companies say the combined business will be positioned as the largest player in South African online fashion.
They believe with e-commerce continuing its strong growth trajectory in SA (having grown by an average of 20% a year since 2000, according to World Wide Worx), the merger will create a serious challenger to brick-and-mortar retailers.
The Takealot group owns 49% of the new business and has management control. It predicts double-digit year-on-year growth for the merged entity.
Takealot says the new business will retain the Superbalist.com brand name with the Spree.co.za brand being phased out and all customers migrated to the Superbalist.com platform.
Luke Jedeikin and Claude Hanan, the current co-CEOs of Superbalist, will continue in their current positions, now running the merged entity.
"There is a huge opportunity to build a substantial position in the online footwear and apparel market in South Africa. The new business will remain truly customer-focused and forward-thinking and is now able to compete head-to-head with current larger brick-and-mortar competitors," Jedeikin and Hanan say.
The merchandise offering will cater to the entire spectrum of South African shoppers with classics, high fashion, street gear and plus-size ranges part of the extensive merchandise mix, they note.
"We'll offer all available payment options, including cash on delivery, and an exceptional online shopping experience with robust logistics. This includes click-and-collect points which are currently being rolled out across South Africa."
Jedeikin and Hanan add that the decision to go with the Superbalist.com brand was not an easy one because both brands have strong equity.
"Regardless of the name we trade under, the most important aspect of our business remains great customer experience. Superbalist.com has always been synonymous with exceptional customer service and its position in the Takealot group means there is a high level of trust in its logistical capabilities."
All Spree.co.za customers will automatically be migrated to the Superbalist.com platform with the new business honouring all purchases, warranties, returns and refunds.
"We have a dedicated team handling the integration process who will work tirelessly to ensure it goes as smoothly as possible."