[TOP STORY] MyRunway – ‘one of SA’s only profitable e-commerce sites’

[LISTEN] myrunway_SA MD Rob Noble on gearing up for Amazon’s possible SA arrival next year, the L.A. Group’s minority stake, and the pandemic rallying ecommerce in SA. fashion Retailtrends Download the podcast

SIMON BROWN: I’m chatting now with Rob Noble, MD at MyRunway. Rob, I appreciate the early morning. We chatted almost exactly two years ago – I think it was late 2020, and at that point of course we were in the depth of the pandemic. It’s two years later.

ROB NOBLE: Sure. ‘Plateaued’ is all [relative], right? I think it’s compared to pre-pandemic sort of growth rates, it’s definitely higher than that. We’re consistently still in the double-digit growth numbers. I mean, you’ve got the UK at 30%, the US at 20%. I think China is actually pushing 50% of their retail sales through online. We’re sitting at just about 5% right now.

ROB NOBLE: Sure. If you go now to the checkout on most e-commerce sites there are tons of different options. So it continues to evolve. I think our last mile delivery has matured as well. I think that was a real Achilles [heel] for e-commerce up to sort of three, four years ago, and I think the pandemic also sort of forced that to mature. Maybe that was what Amazon was waiting for – for all of these sort of things to fall in place before they came in.

ROB NOBLE: Yes, exactly …. The LA Group is an established retailer and its portfolio has expanded over the last few years. We’ve worked closely with them. It just made strategic sense for both of us, so when [AK Peer, co-founder of LA Group] approached us at the beginning of the year, it was quite an easy decision, and strategically it just works.

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