Citymob in Wantitall investment boost
Online retailer Wantitall.co.za has invested in specialist online design store, Citymob.
The investment will enable Citymob to improve its systems, logistics and warehousing facilities, and will see the retailer gain access to more customers, strong supplier relationships and improved staffing.
The move falls in line with Citymob’s strategic plan for 2013.
Speaking to BusinessTech, Citymob co-founders Luke Jedeikin and Claude Hanan said that a big goal for 2013 is to boost its product offerings and focus on its logistics (processing and delivery) platform.
“We’re extremely excited about this new partnership, it will allow us to upscale quickly and ensure a world-class logistics offering,” Jedeiken said.
“Citymob was looking for partners that could bring with them the required expertise and help us grow, and we believe we’ve found the perfect fit with Wantitall.”
Luke Jedeikin
Through the partnership, Citymob is able to tap into the experience and strong supplier relationships Wantitall has gained over the last six years.
Wantitall is one of South Africa’s largest online retailers with access to over 14 million products and a strong distribution network across South Africa.
Group founder, Justin Drennan, said that the online retailer has been working on a “highly automated warehouse system” over the past few years and have been seeking a partner to share it with.
“After meeting and evaluating numerous opportunities, we have found a partner with massive growth prospects and a shared vision whom we are delighted to include within our existing warehouse infrastructure,” Drennan said.
At the end of 2012 Citymob was ranked in the top 5 SA e-commerce companies by web traffic, according to online rating site Alexa.com, moving ahead of other sites such as Kulula.com, Yuppiechef, Computicket and Instagram.
Citymob said that it currently has 200,000 regular customers using their site, with a plan to boost the number to 700,000 or 800,000 by the end of the year.
“We want to cement our position as Africa’s number-one design destination,” Jedeiken said. “This new and powerful partnership with Wantitall simply strengthens our ability to do that.”
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