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Perno Ricard Buys Unspecified Stake in Jumia to Strengthens Partnership

TechInAfrica – Pernod Ricard is the owner of Beefeayer gin, Absolut vodka, and Jameson whiskey. He recently bought an unspecified stake to strengthen its partnership Jumia, an e-commerce platform in Africa. By buying the stake, he has become a strategic shareholder of Jumia.

via thedrinksbusiness.com

The strengthened partnership enables him to share his insights and knowledge about the consumer as well as physical distribution networks on the continent. On the other hand, Jumia will carry on its digital, payment, and logistics platforms, positioning Jumia to strengthen its regional leadership. It also advantages Pernod Ricard to market its products online in Africa.

Perno Ricard Buys Unspecified Stake in Jumia to Strengthens Partnership
Perno Ricard Buys Unspecified Stake in Jumia to Strengthens Partnership via kenyanwallstreet.com

Sacha Poignonnec and Jérémy Hodara, co-CEOs of Jumia welcomed Pernod Ricard as their strategic shareholder, “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.”

For your information, Pernod Ricard is the second largest wine and spirits company in the world. Its headquarter office is in France while 13 of its subsidiary offices are in Africa.

According to Gilles Bogaert, the CEO of Pernod Ricard’s EMEA LATAM, Africa has been the company’s new frontier for 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,” Bogaert said.

Meanwhile, the President of Pernod Ricard Sub-Saharan Africa, Paul-Robert Bouhier added: “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.”

Through the strategic partnership, Pernod Ricard is able to market its premium brand to a wide range of African consumers.

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Written by Rinchi

An article writing enthusiast and is currently working on various types of article writing including technology, gadget tips & tricks, entertainment, culinary, health, and sports.

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