Online retailer is set to merge its online fashion brand, Superbalist, with Media24’s Spree brand to establish an online fashion platform.

Both the brands are currently part of the Naspers group and are operating through separate sourcing and buying, technical, marketing, warehousing and logistics functions.

The deal will form a single entity and create a more focused online retail, footwear and apparel business platform.

Takealot Group CEO Kim Reid said: “We are very excited about the opportunity to further accelerate the growth of online fashion retail in South Africa.

“We look forward to welcoming Spree into the Takealot Group.”

“We have always said e-fashion is a very important growth portfolio to ensure a diversified and sustainable future for Media24.”

Media24 will also hold a 51% stake in the new platform, while the remaining will be owned by Takealot Group, which will oversee the day-to-day operations and management of the business.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The merger is scheduled to close on 1 July and is not subject to competition commission approval.

Following the merger, the business will undergo integration planning and implementation for two to three months, while each business will operate independently before final integration.

Media24 CEO Esmare Weideman said: “Media24 believes in and loves e-fashion. Since starting Spree in 2013, we have always said e-fashion is a very important growth portfolio to ensure a diversified and sustainable future for Media24.

“That is why we are delighted to be the majority shareholder in the combined business.”