Pernod Ricard will invest in African online retailer Jumia, as it looks to expand its product offering to consumers in the continent.
France-headquartered Pernod Ricard – which owns brands such as Beefeater gin, Absolut vodka and Jameson whiskey – said it will share its knowledge of distribution networks in Africa, while Jumia will bring forward its digital, logistics and payment platforms. Pernod is currently present in 13 African countries.
This funding will position Jumia to “consolidate its regional leadership” and will allow Pernod Ricard to benefit from new opportunities to distribute its products online, Pernod said.
“We are very proud to welcome Pernod Ricard as a new strategic partner of Jumia,” said Sacha Poignonnec and Jérémy Hodara, co-CEOs of Jumia. “This investment is an acknowledgement of the growth and innovation that Jumia has achieved since 2012.”
Gilles Bogaert, CEO of Pernod Ricard’s Europe, Middle East, Africa and Latin America unit, said: “Pernod Ricard 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.”
Paul-Robert Bouhier, president of Pernod Ricard Sub-Saharan Africa, 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 centred on consumption moments.
“This innovation has experienced solid growth in cities such as Lagos, Nairobi and Accra. With this 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 service, Jumia Travel, which together represent around 25,000 establishments in Africa.
Pernod Ricard said it will be able to rely on this network to develop the presence of its brands in the out-of-home segment.