Fruit, vegetable firm to open retail chain
Will invest Rs250 million in business expansion
PHOTO: REUTERS
KARACHI:
Pakistan's fast growing retail sector has attracted large export firms from the domestic market to invest in the budding sector. In this regard, a Pakistani firm - Iftekhar Ahmed and Company (IAC) - has announced an investment of Rs250 million as it is venturing into the new arena.
The company has decided to use its 59-year supply chain expertise in delivering fresh fruits, vegetables and fruit pulp to the domestic and global markets, and expand its business by opening retail chains for fresh produce to aid the domestic market and meet requirements of the changing lifestyle.
The company has established a new brand called "Go 4 Fresh", which will be available in domestic and foreign markets. The brand is a chain of retail stores that will expand to other cities after Karachi, and then to the Middle East and the UK.
According to IAC Director Marketing Waheed Ahmed, the company's total investment in Pakistan has reached $21 million in the past five years.
"The company believes in giving back and in re-investing its earnings in society to create greater employment opportunities. This is the right time to invest in Pakistan as the country needs revenue and employment to get out of the phase of economic downturn."
IAC intends to invest around Rs250 million to expand its countrywide retail network over the next four years while a wide range of food products will also be launched under this brand.
Published in The Express Tribune, December 21st, 2019.
Pakistan's fast growing retail sector has attracted large export firms from the domestic market to invest in the budding sector. In this regard, a Pakistani firm - Iftekhar Ahmed and Company (IAC) - has announced an investment of Rs250 million as it is venturing into the new arena.
The company has decided to use its 59-year supply chain expertise in delivering fresh fruits, vegetables and fruit pulp to the domestic and global markets, and expand its business by opening retail chains for fresh produce to aid the domestic market and meet requirements of the changing lifestyle.
The company has established a new brand called "Go 4 Fresh", which will be available in domestic and foreign markets. The brand is a chain of retail stores that will expand to other cities after Karachi, and then to the Middle East and the UK.
According to IAC Director Marketing Waheed Ahmed, the company's total investment in Pakistan has reached $21 million in the past five years.
"The company believes in giving back and in re-investing its earnings in society to create greater employment opportunities. This is the right time to invest in Pakistan as the country needs revenue and employment to get out of the phase of economic downturn."
IAC intends to invest around Rs250 million to expand its countrywide retail network over the next four years while a wide range of food products will also be launched under this brand.
Published in The Express Tribune, December 21st, 2019.