Karachi February 4 2022: Systems Limited (the “Company”) is hereby excited to announce that it has agreed to make a strategic investment in Jomo Technologies (Private) Limited, a progressive eCommerce company, selling global and local fashion/sportswear brands through its platform.
This investment is aimed at enhancing our presence in the digital retail landscape of Pakistan and the region. It will also provide us with access to new markets, products and services, potential synergies in technologies and access to digital mapping of the retail universe. The said investment shall be structured through Systems Ventures (Private) Limited, a wholly owned subsidiary of the Company.
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Founded in 2020, Jomo is an innovative and pioneering player in the digital retail landscape and has grown at remarkable rate since entering the eCommerce market, largely credited to its disruptive strategy by being the only company to provide ‘try before you buy’ and 100% free delivery within Pakistan. Jomo’s global expansion mission is rooted in true Pakistani ethos and with a purpose-driven values system aiming to resonate and establish its footprint with shoppers in Pakistan and around the globe.
Systems Ventures (Private) Limited as well the Board of Directors of the Company foresee this investment as an opportunity to become part of an exciting revolution hitting the digital supply chain of the retail market place in Pakistan.
Systems Ventures (Private) Limited will invest PKR 150 million in Jomo Technologies (Private) Ltd. We believe that this acquisition will open broader avenues and create greater benefit from the revolution taking place in the retail universe of the country and the potential it offers.
