Zando is Closing Down
Africa-focused e-commerce retailer jumia Technologies, which operates popular online store Zando, said it would exit its South African operations by the end of the year to move into other stores.
Group chief executive Francis Dufay told Reuters in an interview that the company had “dramatically reduced costs” to turn a profit, including reducing the number of groceries per day, slashing food delivery and cutting back on services unrelated to the .-commerce business.
Zando.co.za was founded in 2012 and has become one of South Africa’s most popular online fashion platforms. But Jumia’s CEO said the environment in South Africa was highly competitive, making it difficult to do business in the country.
The group had no plans to sell the business and that the site would be put up for sale before it closes.
Director said that in the six months to June 30,
Zando South Africa and Zando Tunisia (other locations are closed) accounted for just 2.7% of all orders and 3% of all goods.
marks the latest business closure in South Africa, while others report more difficult conditions.
In September, South African online retailer Snatcher went into voluntary liquidation.
Snatcher, known as DHD Investments T/A Snatcher Deals, is an online retailer that has been operating in South Africa for eight years and sells cheap electronics in China.
In October, popular online retailer Superbalist informed its staff that it planned to reduce its workforce.
BusinessTech has learned from people close to Superbalist that the online retailer is planning to cut 28% of its workforce.
The layoffs affect most departments, including engineering, product management, finance, design, purchasing and support. The
business’s struggles are also evident on the physical front.
Retailer Drip Footwear went into liquidation last week and laid off its staff.
Drip rival Cross Trainer went into business rescue in August this year after facing financial difficulties due to the COVID-19 pandemic and struggling to keep costs running
Retailer West Pack is also looking for business help in May. The company said it was in financial difficulties and unlikely to repay the debt due next month.
SPAR could revive West Pack and be bought.
South Africa’s largest private car dealership and retailer AutoZone is also up for grabs. JSE-listed investment group Metair is reportedly interested in AutoZone for R290 million.
entered autozone bailout in July after a Debt-to-Equity deal fell short of expectations.
ZANDO IS RUNNING SPECIAL ( CLEARANCE SALE )
REALTED QUESTIONS
- DO WE HAVE ZANDO IN SOUTH AFRICA?
( YES WE HAVE ZANDO IN SOUTH AFRICA BUT WE HAVE ONLY ONLINE STORE )
- WHO IS THE FOUNDER OF ZANDO ?
( MOLLY STERN IS THE FOUNDER OF ZANDO )
- WHEN DID ZANDO START ?
( ZANDO STARTED IN 2012 )
- WHERE IS ZANDO PUBLISHING LOCATED ?
( CAPE TOWN , SOUTH AFRICA )
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