South Africa: Spear Capital invests R100mln in RunwaySale
In South Africa, the private equity firm Spear Capital announced an investment of R100 million (about $5.7 million) in the fashion e-tailer RunwaySale. The investment conditions were not disclosed.
The financing will support the expansion of the company, founded in 2012 by Karl and Elmien Hammerschmidt, on a local fashion market that is expected to generate up to $1 billion in revenues this year according to the German stats portal Statista.
RunwaySale, which offers more than 300 fashion brands, intends to continue its development primarily in the local market and probably later in the sub-region.
On the African continent, Spear Capital is present in the consumer goods, retail and health services sector with financing generally ranging from $2 million to $10 million.