Takealot Reported 65% surge in Revenues, yet to Make Profit – Report

Takealot is South Africa’s fastest growing ecommerce platform.

The Naspers’ e-commerce unit is now roughly half the size of the long-established Game chain of stores – and growing fast – but not quite bringing in a profit just yet, report Business Insider.

Naspers on Monday announced a 65% surge in revenues at Takealot, in full-year results up to the end of March, to $606 million.

That makes for the equivalent of around R8.3 billion, or a monthly average not far below R700 million, for the unit, which includes the Mr D Food delivery business, fashion retailer Superbalist, as well as everything-store Takealot.com.

Mr D Food’s order volumes were up 117%, which saw its revenues more than double, said Naspers. In rand terms, Superbalist’s gross sales were up 45%.

On Takealot, third-party sales conducted via its platform grew faster than its own direct sales, said Naspers, after it added new sellers and new product categories.

Business Insider

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