(CEO of Pick n Pay Stores Limited)
The Pick n Pay Group is one of South Africa’s largest food, clothing and general merchandise retailers. The Group, headed by CEO Richard Brasher, is a multi-format, multi-channel business and consists of corporate and franchise Pick n Pay stores, Boxer stores and has a 49% shareholding in TM Supermarkets in Zimbabwe. 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 Johannesburg Stock Exchange 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.
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 & people. These principles were put into practice at foundation, and continue to be the cornerstone of the Pick n Pay business.
The company has been through a period of heavy investment in building the platform for future growth, with its revitalised brand positioning, aggressive pricing, growth in the convenience sector, increased geographic and demographic reach both within and outside of South Africa, the re-launch of the private label portfolio and the shift towards centralised distribution. The customer-led, cost-driven, three-stage turnaround strategy is beginning to bear fruit.
For insight into Pick n Pay’s financial & operational performance and strategic growth imperatives, contact Trade Intelligence on 031 303 2803 or firstname.lastname@example.org.