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UAE-based Majid Al Futtaim has rebranded its Pakistan-based Hyperstar chain to the Carrefour brand.
Spanish supermarket chain Condis is set to invest up to PKR139bn (US$1bn) in Pakistan.
Last month, a team of Condis supermarket colleagues headed by the Director of Expansion, Mr. Jose Manuel Castellano visited Pakistan. As reported in ARY News, the team visited several cities, including Multan, Jhelum, Rawalpindi and Islamabad to explore feasibility of entering the market.
With the potential investment, Condis will look to strengthen its sourcing credentials. It plans to import their products to Pakistan, but also export Pakistani products back to Spain so shoppers in both countries can benefit from new products.
In recent years, we have seen increasing investment in Pakistan. It is a market where traditional dominates, but foreign retailers such as Majid Al Futtaim, SPAR International and Alibaba, alongside existing local players such as Utility Stores Corporation, are driving growth in modern trade.
While internal political disputes have led to uncertain trading conditions for retailers (e.g. displacement of shopkeepers), Pakistan’s economy has grown quickly in recent years. This has been supported by investment from China in the China-Pakistan Economic Corridor. Its close ties with China, large population of young people and increased levels of foreign investment is making Pakistan an exciting market for businesses to consider.
UAE Majid Al Futtaim Retail is targeting 10% revenue growth in 2018, as it continues to expand its store network around the world.
The company plans to invest between DH1.5bn (US$408.4m) and DH2bn (US$544.5m) in expanding Carrefour’s store portfolio by 2021, with Saudi Arabia, Egypt, Pakistan and East Africa the key growth markets outside the UAE.
In many of the markets that MAF has outlined for expansion, modern trade is still at its infancy. The retailer's clean and modern stores are setting new standards, offering shoppers greater choice of products including local and global brands, and a destination to shop for food and grocery, home, personal care and general merchandise under one roof.
CEO of Majid Al Futtaim Retail, Hani Weiss, said 'We continued to see a very robust performance in 2017 and are forecasting even higher, growth this year – far above 10%.'
SPAR International has enjoyed ‘strong, continued growth’ in 2017, with sales rising 5.3%, on a constant currency basis, to €34.5 bn. SPAR International said its performance had benefited from its continued focus ‘to grow [its] presence through targeted expansion, and to drive retail development through expanding our multi-format retail strategy’.
In 2017, SPAR International continued to enter new countries in conjunction with new partners, while its existing retailers sustained the pace of their store expansion too. As a result, SPAR International said:
At a global level SPAR International said sales grew 5.3%, on a constant currency basis, while by region, it noted:
Discussing its 2017 performance, SPAR International’s chief executive, Tobias Wasmuht, said: “2017 was an extraordinary year of growth for SPAR Worldwide, with sustained growth across all 48 markets where SPAR operates. Our strategy launched in 2016 entitled ‘SPAR: Better Together’, is showing strong signs of benefitting our SPAR country operations internationally… A key focus throughout 2017 has been to grow our presence through targeted expansion, and to drive retail development through expanding our multi-format retail strategy. Operationally we are stronger as a result of investments in the supply chain and are generating more value through better buying and leveraging our growing scale in procurement.”
Alibaba has expanded into South Asia through its acquisition of Daraz.
Daraz was founded in 2012 by Rocket Internet and operates in Pakistan as well as Bangladesh, Myanmar, Sri Lanka and Nepal. Rocket said in a statement that Alibaba has acquired the entire Daraz business. The website will continue to operate under the same brand following the sale to Alibaba.
Daraz is mainly an online marketplace, and also sell and fulfil some products under its 'Grocer's Shop' section. It hosts 30,000 sellers and 500 brands and offers about two million products to its five million shoppers.The main categories being sold include electronics, mobile phones, books and fashion. It provides cash on delivery service across Pakistan, and express delivery within 24 hours at no extra cost.
The other business that Alibaba has acquired from Rocket was Lazada, a similar online platform in Southeast Asia. And it has been increasing its investment in the platform. The acquisition of Daraz marks another move of the ecommerce empire into South Asia. Alibaba’s Ant Financial invested in Bangladesh mobile financial service provider bKash.
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This in-depth guide to Pakistan explores the key trends in grocery retail and the growth strategies of the leading retailers in the country.
We've developed a single, universal methodology for calculating food and consumer goods retail data, supported by our programme of primary and secondary research. This makes Datacentre the most reliable and robust source available for data of this type.