CAPE TOWN, South Africa, September 27, 2012 /PRNewswire/ --
J.P. Morgan Asset Management Portfolio Manager Robert Cousin, who worked on the deal from New York, confirmed the transaction, saying, "We are excited to partner with ZANDO as the company continues to grow its e-commerce presence in South Africa."
Launched on the 23rd of January 2012, ZANDO today offers hundreds of brands and thousands of styles selected from South African and international fashion houses. With multiple secure payment methods and free delivery within South Africa, it is fast becoming a leader within the retail e-commerce sector. It launched with a staff complement of 4 people, just over 7 months later the company today employs more than 200 people and is based in Cape Town, South Africa. It is led by its two Managing Directors and Co-founders Manuel Koser and Peter Allerstorfer. The initial ignition of the company was supported by Rocket Internet - the European incubator of internet startups. According to global web metrics provider Alexa.com, ZANDO is currently ranked as one of the top five B2C e-commerce sites in South Africa.
"Attracting such a reputable international investor to support our future growth shows commitment and confidence in our business," said Manuel Koser. "At ZANDO customer satisfaction is very important to us. This investment will assist the business by supporting its vision and all of its operations."
"ZANDO will increase its portfolio of products, expanding its offering to support its vision as the largest online retail store within South Africa," said Peter Allerstorfer.
ZANDO is a leading online fashion store offering choice and accessibility to South African consumers. With thousands of products and hundreds of brands featured online, you'll be spoilt for choice. Enjoy incredible benefits such as free and fast delivery nationwide and immediate returns upon delivery. This secure online store has multiple payment methods to choose from (Cash on delivery, Electronic funds transfer, Credit Card, Debit Card and eBucks).
To find out more information or to shop at ZANDO, visit the online store: http://www.zando.co.za otherwise, follow ZANDO on Facebook, Twitter (@zando_co_za) or YouTube http://www.youtube.com/zandoonline.
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under supervision of approximately $2.0 trillion and assets under management of $1.3 trillion (as of June 30, 2012), is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high-net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. JPMorgan Chase & Co. (NYSE: JPM), the parent company of J.P. Morgan Asset Management, is a leading global asset management firm with assets of approximately $2.1 trillion and operations in more than 60 countries. Information about JPMorgan Chase & Co. is available at http://www.jpmorganchase.com.
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