Greatermans and Toy City combines under new company
Greatermans and Toy City have joined forces under the ownership of Naligen(Pty)Ltd, a wholly-owned subsidiary of The High Option Ltd.
From September 2020, the new trade name of the two stores will be Greatermans Toy City, and while the name have changed, the brands will remain unchanged.
This merger was necessary for a few reasons, and the main reason was the authorised share capital of Naligen. The High Option Ltd. specialise in e-commerce investments and franchised stores, and with the acquisition of Naligen, the doors were opened for Greatermans Toy City to open more e-commerce stores.
Another benefit is the centralised management of functions like procurement, marketing, accounting, logistics and shipping. The company hopes the expansion would increase the turn-over of the various stores while assuring growth in nett asset value for its shareholders.
The company now has three operating e-commerce franchised networks, and leveraging its unique concept to its advantage to source more product lines while keeping its revenue in a closed loop.