(CEO of Pick n Pay Stores Limited)
The Pick n Pay Group is South Africa’s second largest food, clothing and general merchandise retailer. The entity is a public company substantially owned and run by the family of legendary founder Raymond Ackerman.
In 1967 Ackerman purchased four small stores from Jack Goldin, launching Pick n Pay as South Africa’s first food discounter. Listed on the JSE the following year as Pick n Pay Stores Ltd, its appearance among the Sunday Times Top 100 companies in 1969 reflected its rapid growth to prominence.
The Group consists of corporate and franchise stores, and has holdings in TM Supermarkets in Zimbabwe (associate). The company has been through a period of heavy investment in building the platform for future growth, with its revitalised brand positioning, aggressive pricing policy, entry into the growing convenience sector, increased geographic and demographic reach both within and outside of South Africa, the relaunch of the private label portfolio and the shift towards a more centralised operation and roll-out of SAP.
Management attributes the growth and success of the Group to an unwavering belief in consumer sovereignty and in applying the ‘four legs of the table’ principle – administration, merchandise, promotion and social responsibility and people. These principles were put into practice at foundation, and continue to be the cornerstone of the Pick n Pay business... MORE