Jumia has for years been the fastest growing brand in the portfolio of Africa Internet Group (AIG). Since it launched in Nigeria in 2012, the online retailer now has presence in 23 African countries, and has gotten a total investor funding of $211 million. Now, parent company AIG wants other startups in its portfolio to go under the Jumia brand name.
According to the announcement made on Thursday by AIG, hotel booking platform Jovago rebrands to Jumia Travel; food delivery company HelloFood to Jumia Food; and community market place Kaymu rebrands to Jumia Market.
Real estate platform Lamudi becomes Jumia House; Vendito changes to Jumia Deals; Everjobs, Jumia Jobs; and AIG’s logistics services AIG Express will now be known as Jumia Services.
“Operating under the same brand name reinforces the legitimacy of proposing other services to our customers and to our sellers. We want to have one strong brand that is trusted and loved by our customers across Africa,” said Founders and co-CEOs Sacha Poignonnec and Jeremy Hodara.
The businesses will still operate the way they have been operating and most likely retain their management.
The rebranding is expected to reposition Jumia as a much larger network in Africa comprising several services ranging from travel booking to food delivery. The move is also expected to boost AIG’s marketing strategy. The company’s parent company Rocket Internet has over the past six months shed more than 25 percent of its share price. Jumia’s revenue fell 37 percent in the same period.