Takealot, Naspers’s e-commerce division in South Africa, has successfully sold Superbalist to a group of retail and private equity investors led by Blank Canvas Capital.
The company said on the next day that Takealot sold the online clothing store over the weekend. The Takealot Group will be able to focus on growing Takealot and Mr. D while this strategic acquisition helps Superbalist grow, the company said.
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Takealot’s strategic moves in e-commerce evolution
As a result of increasing levels of competition in the South African e-commerce landscape, Takealot was reportedly contemplating selling Superbalist in March, according to reports that were first made public.
International players like Amazon and low-cost Chinese retailers like Shein, Wish, and Temu have crowded the market, immediately threatening its business model.
Along with making the competition more challenging, these low-cost competitors have also taken advantage of tax breaks to bring in clothes with lower duties, which has hurt local stores like Superbalist.
“The Takealot Group remains committed to providing exceptional value and service to our customers. Backed by our parent company, Naspers, we are well positioned to strengthen our market-leading positions in the e-commerce sector, ensuring continued growth and success for Takealot and Mr D.”
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About Takealot
South Africa’s biggest online store, Takealot, was started in 2011 after MIH Holdings, which Naspers backed, bought Take2 and changed its name. It has a vast selection of goods, from electronics to clothes, and has been very important in shaping how people shop online in South Africa.
Naspers, one of the largest technology investors globally, is a critical player in Takealot’s growth. Founded 1915 as a publishing company, Naspers has evolved into a global consumer internet group. Its investment in Takealot aligns with its broader focus strategy on technology and online platforms.
Naspers’ backing has allowed Takealot to expand rapidly, benefiting from the group’s resources and expertise. This support has enabled Takealot to dominate the South African e-commerce market, becoming synonymous with online shopping. Naspers’ influence continues to shape Takealot’s trajectory as it competes with global players.