Published 28 August 2017, by Kabelo Khumalo
CAPE TOWN – South Africa’s online shopping superstore Loot.co.za has set its sights on unlocking further value in the business and entrenching its foothold in the competitive e-commerce industry, supported by the company’s capital-efficiency position and a sound market understanding by its top executives.
The company said that it viewed its growth strategy in the long term and is prioritising revenue growth before profitability.
Gary Hadfield, chief executive of Loot.co.za, said on Friday that the company had built a strong platform and has consistently delivered hyper growth, while hitting its margin and bottom line targets.
“We are acutely aware of the crucial areas and investments required to scale this type of business. We have conducted detailed analysis of the investment quantums received by African players and funded by the likes of Kinnevik, TigerGlobal and Millecom.”
“By comparison, we could be viewed as still being in “bootstrapping” mode, running a lean business, but with a sound grasp of where we get our gains and what will drive value creation. We will be investing a lot more in crucial areas,” Hadfield added.
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