{"id":22637,"date":"2012-09-24T00:15:51","date_gmt":"2012-09-23T22:15:51","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=22637"},"modified":"2012-09-25T09:17:42","modified_gmt":"2012-09-25T07:17:42","slug":"big-boost-for-sa-ecommerce","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/internet\/22637\/big-boost-for-sa-ecommerce\/","title":{"rendered":"Big boost for SA eCommerce"},"content":{"rendered":"

Zando<\/a> – a newcomer to the South African e-commerce space, selling footwear, clothing, and fashion accessories – has landed a significant investment from JP Morgan<\/a>.<\/p>\n

Business Times reported that Zando has landed an investment in the “three-digit million rand” band from the asset management division of JP Morgan.<\/p>\n

\u201cZando co-founders Manuel Koser<\/a> and Peter Allerstorfer<\/a> would not reveal the exact amount, but the investment is a strong vote of confidence in the nine-month-old company, which sells local and international clothing brands online,\u201d Business Times reported.<\/p>\n

According to the newspaper, Robert Cousin, a portfolio manager at JP Morgan, confirmed the investment in Zando, saying that they are excited to partner with Zando \u201cas the company continues to grow its e-commerce presence in South Africa\u201d.<\/p>\n

Launched on the 23rd of January 2012, Zando has grown significantly to become one of the top online retailers in the country.<\/p>\n

According to the company it currently attracts over 200,000 unique visitors per week, and has grown its number of employees from the initial 4, to over 200.<\/p>\n

One industry player, who asked not to be named, said that Zando\u2019s free return policy caused some problems because of the fact that many users ordered clothing, wore it for a night and then returned it for a full refund.<\/p>\n

However, Zando explains that the current system where the delivery guy waits at your door if a client would like to return an item (fashion in a flash) is working well.<\/p>\n

Zando could not disclose their exact growth figures, but the company said that they will release more information about their finances next week.<\/p>\n

Related articles<\/strong><\/p>\n

Fraud and broadband holding back e-commerce in SA<\/strong><\/a><\/p>\n

Bidorbuy expects strong online commerce growth in 2012<\/strong><\/a><\/p>\n

Bidorbuy growth plans revealed<\/strong><\/a><\/p>\n

SA dominates web hosting in Africa<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Zando, a newcomer to the South African online ecommerce space, has landed a significant investment from JP Morgan<\/p>\n","protected":false},"author":2,"featured_media":22735,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9882],"tags":[26,4202,4203,4181],"class_list":["post-22637","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-internet","tag-headline","tag-jp-morgan","tag-robert-cousin","tag-zando"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/22637","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=22637"}],"version-history":[{"count":12,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/22637\/revisions"}],"predecessor-version":[{"id":22814,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/22637\/revisions\/22814"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/22735"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=22637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=22637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=22637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}