Kim Reid has spent the past 10 years building Takealot Group – today controlled by Naspers – into South Africa’s largest e-commerce company. He sat down with TechCentral to reflect on his time at the helm.
Browsing: Retail and e-commerce
The investing world is enthralled by a determined Beijing as it cuts China’s private sector down to size by relentless regulatory action. India’s more subtle manoeuvres in the same direction are going largely unnoticed.
Takealot Group will replace long-serving CEO Kim Reid on 1 October. The role will be filled by Mamongae Mahlare, who joins South Africa’s largest online retailer from Illovo Sugar.
A pandemic-led boom in online shopping in South Africa has seen Woolworths report a 118% increase in online food sales in the 52-week period to 27 June 2021.
Panic buying across neighbourhoods in Gauteng has seen popular grocery delivery services such as Checkers Sixty60 and Bottles by Pick n Pay buckle under the load.
Amazon.com said its online stores had returned to normal services after a global outage disrupted shopping on its country sites.
Mr Price Group is a step closer to scooping up online retail kitchenware pioneer Yuppiechef after the Competition Commission on Thursday announced its backing of the acquisition.
JSE-listed Dis-Chem, one of South Africa’s largest pharmacy groups, has launched on-demand delivery for online shoppers, offering delivery of a catalogue of 7 000 items within 60 minutes.
Naspers-controlled Takealot group reported revenue growth of 55% in the last financial year despite a ban on unfettered e-commerce during the height of the hard lockdown in 2020.
Prosus said its e-commerce business grew revenues and shrank trading losses for the year that ended 31 March, even as its overall profit continued to be dominated by its investment in Chinese technology giant Tencent.