Latest Sunglasses.com.ng News
Jun 17, 2013
17 June, 2013 Cape Town based Silvertree Capital (www.silvertree-capital.com), an Africa-focused business builder and venture capital investor, has recently invested in two of Nigeria’s largest e-commerce sites, Sunglasses.com.ng and Glamour.com.ng . Both of these leading e-commerce sites offer a broad range of top consumer brands to the burgeoning online shopping market and have a free delivery charge throughout the country. Sunglasses.com.ng specialises in genuine, high-fashion eyewear and contact lenses while Glamour.com.ng secures one of the top positions in online retail for cosmetics, fragrances and personal care products. Both e-commerce sites have been built and funded by Startup Partners Africa (SPA) based in Berlin, Germany and Lagos, Nigeria. Manuel Koser, Founding Partner at Silvertree Capital and previously co-founder at Zando , said, “We are very enthusiastic about the online market in Nigeria, which is beginning to show tremendous growth as more consumers start using the internet to shop.” Nigeria has a population of over 160 million people, roughly three times the size of South Africa and is rapidly increasing. In 2012, the Nigerian retail market had a volume of approx. EUR 30 bn with 15% yearly growth rate. Internet penetration is at ca. 30% fuelling the tremendous e-commerce growth.