Manuel Koser, co-founder and managing director at online South African retailer Zando, has announced his resignation in order to co-found a new venture.
Koser, who said he would remain a shareholder at Zando, is leaving to start Silvertree Capital, a “company builder and venture investor” in African startups.
“I have decided to step down as MD of Zando.co.za to pursue other entrepreneurial ventures, as I am [a] startup enthusiast and miss the excitement and hectic environment of setting up a company from scratch,” he said.
“I will still be a shareholder of Zando and leave the business on a good note based on my own choice. I have no doubt it will continue to go from strength to strength under the excellent management of Peter [Allerstorfer].”
Co-founder Allerstorfer, who will remain at the company, said: “The business is still growing according to its business plan, while there will always be changes, this is what growth brings and Zando.co.za is prepared for it. I look forward to take business into its next phase.
“I truly thank Manuel for his dedication and effort to build South Africa’s largest fashion ecommerce player. I wish him all the best for his future endeavours.”
Zando’s online marketing manager Kate Jansen told HumanIPO last week the site would not rush out a mobile application, despite having a successful mobile optimised site. Jansen said businesses should concentrate on the market in front of them.
Zando.co.za launched in January 2012, and the Cape Town business has been visited by more than 10 million South Africans since.