Online real estate market place Lamudi, which focuses on emerging markets, has rebranded to Jumia House in line with a decision by parent company Africa Internet Group (AIG) to ‘expand your horizons’.
As part of the new vision, Africa Internet Group, under the name Jumia, will connect all its companies, including Jovago, Hellofood, Kaymu and Lamudi via the new ecosystem.
According to the company the new Jumia ecosystem will give access to products and services from its nine leading platforms, adding that after four years of successfully establishing and growing its online services as leaders in their markets, the Group, now Jumia, has become the number one e-commerce platform in Africa.
Jumia and Kaymu offer fashion and electronics, with the former Kaymu servicing local sellers with Jumia Market.
Hotel booking platform Jovagowith becomes Jumia Travel, while food delivery site Hellofood is now Jumia Food.
Former classifieds site Vendito has become Jumia Deals, Lamudi, as mentioned rebrands to Jumia House and Everjobs is now Jumia Jobs.
Jumia Car is the new name for Carmudi and lastly logistics services site AIGX becomes Jumia Services.
"Jumia aims at creating a connected digital Africa to improve people’s lives on the continent with a mission is to connect African consumers and entrepreneurs to do better business together," say Jumia founders and co-CEOs Sacha Poignonnec and Jeremy Hodara.
“We founded our companies in the belief that internet can improve people’s lives in Africa," the founders say.
"Uniting all services allows us to better help our customers fulfill their daily aspirations. This is all possible because people connect to our platform to access those services and products in an environment that we have designed for them, addressing their needs and expectations on quality, choice, price, trust and convenience.”
“Furthermore, sellers will also benefit from the new ecosystem by getting access to more traffic and to a greater world of opportunities,” the founders say.
They say every day, Jumia helps and encourages restaurants, hotels, local sellers, brands, real estate agents, car dealers, large companies and logistic companies to become better, bigger, more efficient, thus creating a positive impact for Africa.
"Operating under the same brand name reinforces the legitimacy of proposing other services to our customers and to our sellers. We want to have one strong brand that is trusted and loved by our customers across Africa,” they add.
Jumia House Nigeria head of communications Ogo Onichabor says its a great move for Jumia House Nigeria and all its sister ventures.
"We are excited and optimistic about the future and will continue to strive to make our customers experience with our brand a key priority,” Onichabor says.
"The new vision expresses the group’s ambition to transform people’s lives through the internet, overcoming the ground market challenges of the continent and giving all Africans the opportunity to access high quality services and products everywhere."
According to Techpoint Nigeria the need for readjustment comes at a time Rocket Internet is struggling to convince its investors of the company's ability to achieve its short and long term objectives in Africa and globally as the business is yet to be profitable.
The report says the move will boost Jumia’s marketing strategy and cover lost ground; particularly as Jumia has been predominantly affected by the macroeconomics challenges that has largely resulted in recent economic downturn in Nigeria.
Techpoint quotes Rocket Internet founder and CEO, Oliver Samwer as saying “Jumia in Africa is billing out its market share in a difficult macro environment and we are very optimistic for this business in a very long life”.
An AIM group report also suggests Lamudi's re-organization in Africa is a blessing in disguise for operator and part-owner Rocket Internet, as it gives the German start-up incubator the opportunity to focus its energy and resources on Asia.