Raised $2.5 million! Australian e-commerce platform Nile may go public

The epidemic has prompted a change in the way consumers around the world shop. Online shopping has become more popular, the penetration rate of the Internet and mobile devices has increased, and Australia's e-commerce platforms have also achieved rapid development during this period .

As one of Australia's leading online retailers , Nile Group currently has more than 40 million products on its platform. Nile operates websites designed to provide customers with an extraordinary shopping experience. Nile's platform covers product categories including books, toys, baby products , household products, kitchen products, sports and outdoor, DVDs, music, health and beauty.

Online retailer Nile Group , which commissioned Deloitte to help it conduct a strategic review , said on Wednesday it had completed a $2.5 million funding round this month and was considering plans to go public .

“As one of Australia’s earliest online retailers, it’s been exciting to see the acceleration of e-commerce growth over the past 12 months , ” said The Nile Group co-founder and chief executive Jethro Marks.

In addition, Jethro Marks also said: " This benefit phenomenon is not a recent one. In our 17 years of e-commerce development, we have been planning for these trends and growing from them."

Nile Group, which owns and operates multiple online brands, is about to launch three new brands and has a presence in Australia, New Zealand as well as the UK and US markets. According to the group, Nile Group is on track to achieve another record year in FY21 .

Jethro Marks said : “ It’s very encouraging to see Australia’s capital markets support local online retailers and hopefully the growth of e-commerce brands will continue in the long term. ”

According to Inside Retail , Australia 's e-commerce sales grew an estimated 13.9% last year and are expected to reach a compound annual growth rate of 10.3 % by 2024. Australia's e-commerce industry is expected to maintain double-digit growth in the next few years.

As consumers' preference for online channels increases significantly and online penetration continues to rise, online shopping will become more popular. Retailers should also actively formulate relevant strategies based on local conditions to seize the Australian e-commerce market and create longer -term value.

Australia

E-commerce

Nile Group