Fashion-focused Nigerian e-commerce websites Sunglasses.com.ng and Glamour.com.ng are set to receive an investment boost from South African firm Silvertree Capital.
Sunglasses.com.ng specialises in genuine, high-fashion eyewear and contact lenses, while Glamour.com.ng is an online retail outlet for cosmetics, fragrances and personal care products.
Meanwhile, Silvertree Capital is a venture capital firm based in Cape Town, South Africa.
Silvertree has said in a statement that both these Nigerian e-commerce sites offer a broad range of consumer brands to the growing online shopping market in that country. Silvertree says that both sites also have ‘free delivery’ throughout the country.
Silvertree, however, has not disclosed figures regarding its investment in these two websites.
Manuel Koser, founding partner at Silvertree Capital 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.”
In 2012, the Nigerian retail market was valued at 30 billion euros with a 15% yearly growth rate. Internet penetration is at 30% fuelling the tremendous e-commerce growth, according to a statement.
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