Afrigather Takealot Group has introduced the appointment of Frederik Zietsman as new CEO.
Takealot, the South African e-commerce group that reported $808m in revenues for 2023, has introduced Frederik Zietsman as its new CEO efficient from February 1, 2024. Takealot group owns the web platforms takealot.com, Superbalist, and Mr D.
Zietsman replaces Mamongae Mahlare who was CEO from October 2021. Mahlare is shifting to the place of government chair of Takealot group. Zietsman was CEO of Takealot.com from 2021.
“The streamlining of the management between the group and Takealot.com will reinforce sources round its flagship on-line retail and market platform and convey stronger alignment and focus in delivering on its key progress aims,” Takealot stated in a press release.
In 2018, Africa’s largest firm by market capitalisation Naspers acquired Tiger World Administration’s stake in Takealot, successfully proudly owning 96% of Takealot. Per Nasper’s newest financials, Takealot group’s gross merchandise worth (GMV) and income grew by 15% and 9% over the past 12 months, respectively. The corporate additionally decreased buying and selling losses by as a lot as 85%.
Takealot going through regulatory crackdown and Amazon arrival
Amazon introduced in October 2023 that it’s going to launch its market in South Africa in 2024, wanting set to problem Takealot’s dominance. Though the corporate didn’t cite the arrival as the explanation for the chief shuffle, Takealot could be trying to get its finest bets on the helm to struggle off the worldwide e-commerce large. Former CEO Mahlare has continuously reiterated that Takealot really appears ahead to the approaching arrival of Amazon.
Amazon enters a South African e-commerce market fraught with regulatory problems. In July, the nation’s competitors regulator launched a report outlining the findings of an investigation into aggressive practices of some main on-line platforms. For Takealot, the regulator said that the platform confronted a battle of curiosity on its web site as its retail division competes with {the marketplace} sellers main to behavior that has deprived sellers.
As a remedial motion, Takealot was ordered to segregate its retail division from its market operations, stopping its retail providers from accessing vendor knowledge and unilaterally stopping sellers from competing for sure manufacturers.
