Pernod Ricard, the owner of Beefeater gin, Absolut vodka and Jameson whiskey, is strengthening its partnership with African e-commerce player Jumia by buying an unspecified stake, thus becoming a strategic shareholder.
Through the strengthened partnership, Pernod Ricard will share its knowledge about consumer and physical distribution networks in Africa, while Jumia will bring forward its digital, logistics and payment platforms. The funding from Pernod Ricard positions Jumia to consolidate its regional leadership, and will allow Pernod Ricard to benefit from new opportunities to distribute its products online on the continent.
"We are very proud to welcome Pernod Ricard as a new strategic partner of Jumia. This investment is an acknowledgment of the growth and innovation that Jumia has achieved since 2012,” said Sacha Poignonnec and Jérémy Hodara, co-CEOs of Jumia.
Pernod Ricard is the world’s second largest wine and spirits company, headquartered in France and currently present in 13 African countries.
As outlined by Gilles Bogaert, Pernod Ricard’s EMEA LATAM CEO, the company has made Africa its new frontier, as shown by the successive openings of subsidiaries over the last few years.
"Our strategy is consumer-oriented and we strive to transform to strengthen our growth in this very promising continent. Jumia is a partner of choice as digital and e-commerce represent real strategic accelerators in this region for us,” he explained.
Paul-Robert Bouhier, president of Pernod Ricard sub-Saharan Africa, continued: "Our business relationship with Jumia traces back to 2016 with the successful launch of Jumia-Party, Jumia’s e-commerce platform based on the catching idea 'We deliver. You Party', and centered on consumption moments. This innovation has experienced solid growth in cities such as Lagos, Nairobi and Accra."
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He said that through the reinforced strategic partnership, Pernod Ricard will be able to offer its large portfolio of premium brands to a greater number of consumers in Africa.
In addition to its online services platform, Jumia also operates a restaurant delivery platform, Jumia Food, as well as a hotel booking platform, Jumia Travel, which together represent around 25,000 establishments in Africa. Pernod Ricard will be able to rely on this network to develop the presence of its brands in the out-of-home segment.
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