By Eni Olukotun
Yudala.com, an online shopping mall that would soon be launched is set to challenge the market dominance of two leading Nigeria’s online shopping firms, Jumia and Konga.
Yudala, which is a subsidiary of the Zinox Group owned by a billionaire Stan Leo-Eke will take the market by storm when eventually launched later this year, a reliable source had told The Complete News.
In preparation for the grand launch, our correspondent who visited the corporate Headquarters of Zinox in Gbagada, Lagos South West Nigeria saw fleet of Yudala branded cars. Also renovation of the old Zinox building which will serve as the operational base of the new brand has reached an advanced stage.
Industry watchers opined that the entry of the firm into the fiercely competitive online shopping sector will generate buzz and ripples considering the antecedence of the Leo-Eke.
Aside from the huge funds at the disposal of Zinox’s boss, Leo-Eke is said to be actively connected with the powers that be in Nigeria’s business political circles.
His clout within these circles played out in 2007 and 2011 respectively when is company practically hedged out other local, foreign bidders to win multi-billion naira award to supply Data Capture machines for the nation’s electoral umpire, the Independent National Electoral Commission, INEC.
Prior to these, Leo-Eke’s company led the pack of local Original Equipment Manufacturers, OEMs who supplied computers to Federal Government agencies across Nigeria.
Meanwhile, the duo of Konga and Jumia are not leaving anything to chance. Jumia which is said to be largely owned by some foreign investors of German descent is spending huge fortunes on advertisement on various platforms.
Sources who are up to date with the happenings in the industry told The Complete News that the company currently holds the axe in the online shopping space. To maintain this dominance, it was learnt that expatriates and best hands were hired from around the world to strengthen the company’s business operations.
On the hand, an Indigenous Konga owned by Nigerian Sim Shagaya has proven critics who doubted if he could withstand the competition wrong. The Son of a retired Nigerian army General is expanding the operations of Konga with renewed focus on customer experience. A clear evidence that the company’s market share and patronage by Nigerians is growing, Konga relocated from his base in Ilupeju area of Lagos to a bigger office in Yaba area.
In the areas of publicity, the serial internet entrepreneur is spending heavily on digital adverts and in the mainstream.
Will the entrance of the heavyweight, Stan Leo-eke dislocate the main players in the online shopping market? Analysts could only wait to see the outcome.
