Jomo Technologies (Pvt) Limited, an e-commerce firm that offers worldwide fashion and sporting brands on its website, is set to get a Rs. 150 million investment from Systems Limited.
According to the statement published to the Pakistan Stock Exchange (PSX), the business will make the investment through its subsidiary Systems Venture Pvt. Ltd., which wants to strengthen its footprint in Pakistan’s digital retail scene and the region.
Systems Limited will benefit from the strategic investment by gaining access to new markets, products, and services, as well as potential technological synergies and access to the digital mapping of the retail universe.
Jomo, an innovative and pioneering participant in the digital retail environment, was founded in 2020 and has expanded at a phenomenal rate since entering the e-commerce sector.
Its success can be attributed in part to its disruptive approach of being the only firm that offers “try before you buy” and “100% free delivery within Pakistan.”
Jomo’s global expansion aim is rooted in authentic Pakistani ethos, and it has a purpose-driven value system that is meant to resonate with buyers in Pakistan and around the world.
The acquisition will open more doors and provide greater benefits from the country’s ongoing retail revolution and the opportunities it presents.
Systems Ventures (Private) Limited is a completely owned subsidiary of Systems Limited, and its Board of Directors sees this venture as an exciting chance to be a part of the digital supply chain revolution that is sweeping Pakistan’s retail marketplace.
Systems Limited is a forward-thinking IT company in Pakistan that is extending its business in both domestic and international markets by working on a variety of projects and growing through strategic alliances and investments in emerging areas.
It recently acquired 20 percent of Retailistan, a leading technology business focused on the digitalization of the retail supply chain in Pakistan, as a wholly-owned subsidiary in the Kingdom of Saudi Arabia.
It also achieved a profit of Rs. 2.522 billion in the first three quarters of 2021, representing a 56 percent increase in profitability year over year.
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