Online fashion retailer Spree brand to fall away in merger with Superbalist
Spree.co.za and Superbalist.com to become one mega fashion retailer in October.
Leading online fashion brands Spree and Superbalist have confirmed that the Spree brand will fall away following the merger and the combined company will be known only as Superbalist.
“The new business will retain the Superbalist.com brand name with the Spree.co.za brand being phased out and all customers migrated to the Superbalist.com platform, with the new business honouring all purchases, warranties, returns and refunds,” said Takealot, which owns 49 percent of the new business, in a statement.
Takealot predicts double-digit year-on-year growth for the merged body.
The combined business of these two leading South African online fashion brands will be positioned as the largest player in South African online fashion, Spree.co.za and Superbalist.com said in a statement released in June. The companies believe the strong growth trajectory of e-commerce in South Africa will make the new merger a serious challenger to brick-and-mortar retailers.
The current co-CEOs of Superbalist Luke Jedeikin and Claude Hanan will run the new entity, continuing in their current positions. They said that the decision to go with the Superbalit.com brand was not an easy one, because both brands have strong equity.
The statement read:
"Regardless of the name we trade under, the most important aspect of our business remains great customer experience. Superbalist.com has always been synonymous with exceptional customer service and its position in the Takealot group means there is a high level of trust in its logistical capabilities."
The merchandise offering will cater to the entire spectrum of South African shoppers – with classics, high fashion, street gear and plus-size ranges part of the extensive merchandise mix – and offer all available payment options, including cash on delivery with robust logistics and click-and-collect points.
The co-CEOs said in the statement:
“There is a huge opportunity to build a substantial position in the online footwear and apparel market in South Africa. The new business will remain truly customer-focused and forward-thinking and is now able to compete head-to-head with current larger brick-and-mortar competitors."