Takealot has sold online clothing retailer Superbalist.
Superbalist has been acquired by a South African consortium of retail and private equity investors led by Blank Canvas Capital.
“We extend our best wishes to the Superbalist team as they embark on this new chapter in their journey.” Superbalist, initially known as Citymob, was founded in November 2010 by three local entrepreneurs – Luke Jedeikin, Claude Hanan, and Daniel Solomon. Naspers-owned Takealot acquired Superbalist in August 2014 after it received a US$100 million cash injection to expand its South African operations.
However, the founders left Superbalist in December 2019 and joined The Foschini Group two years later to help the company realise its eCommerce ambitions.It explained that growth post-Covid has not reached the levels that had been forecast.
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