South African Retail Group Pick n Pay Expands Into Nigeria With Its First Store
South African Retail Group Pick n Pay Expands Into Nigeria With Its First Store. Pick n Pay, the second largest supermarket chain store in South Africa, plans to open its first store in Nigeria. The retailer – which has stores in Botswana, Zambia, Zimbabwe, Lesotho, Namibia, and Swaziland will enter a market that rivals like Shoprite and Mr Price are withdrawing from. It is partnering with a Nigerian company to open smaller “neighbourhood” stores, a different strategy to those of other South African retailers.
“It’s a breaking story. They just opened in Lagos… People are saying how great it is… Other South African retailers opted for the shopping mall model… not common in Nigeria… Pick n Pay is looking to be more widespread and accessible… Shoprite is pulling out… and negotiating a deal for the retention of their brand. They have 25 stores in Nigeria… One in and one out! … Woolworths also went in with a Nigerian company, and they didn’t make it…Massmart might also be selling… Nigeria is a numbers game… Pick n Pay is not a newcomer in the rest of Africa.” Dianna Games, Chief Executive – Africa At Work told 702.
The South African supermarket chain believes it can overcome problems that have hit competitors, like currency devaluations and logistical challenges, as well as barriers to repatriating profits. In 2018’s annual report, the company announced a planned expansion into Nigeria, and that it was considering expanding into Ghana. Pick n Pay also operates stores under the Boxer brand in South Africa and Swaziland
Pick n Pay is the second largest supermarket chain store in South Africa, and was established in 1967. It can also be found in other regions of southern Africa, including as Botswana, Zambia, Zimbabwe, Lesotho, Namibia, Swaziland, and had plans to open in Malawi but has yet to do so. Raymond Ackerman purchased three Pick n Pay supermarkets from Jack Goldin in Cape Town, and served as executive chairman until his retirement in 2010.
