• Tuesday, April 23, 2024
businessday logo


FoodCo deepens competition in retail sector with launch of 18th outlet

Foodco to boost modern retail sector with leadership programme

FoodCo Nigeria, Omnichannel retailer, is deepening competition in the retail sector with the launch of a new outlet in Alao Akala, Ibadan, bringing the brand store count to 18 outlets spread across Lagos, Ogun and Oyo States.

Speaking on the launch, Ayodele Adio, area sales manager, FoodCo Nigeria, stated that the development is in line with FoodCo’s commitment to bringing modern retail closer to customers who desire the convenience and quality assurance it offers.

He said: “We are excited to unveil the latest FoodCo brand store located in Akala, Ibadan, Oyo State. From inception, FoodCo has been driven by a vision to ensure that Nigerians enjoy the benefits of modern retail irrespective of their location.”

“While the formal retail space in Nigeria is still sub-scale at less than 10 percent of the population, we are optimistic that our expansion, particularly within the south-west region, will help in addressing the gap as well as raise the bar for service delivery within the sector.

“In 40 years of operations, FoodCo has consistently led transformation within the Nigerian modern retail space through innovation and a strong customer-focused approach.

“This was what inspired us to adopt both the co-location model where customers can shop, play and eat in one location as well as the quick shop outlets which stocks personal care products and household essentials. We remain optimistic about the prospects of organized retail in the country and this new outlet is a reflection of our commitment towards deepening the sector.”

Read also: Youth population, growing consumer tastes see Foodco expand outlets

The company also announced the commencement of its annual Christmas promo across all outlets. The promo offers new and existing customers the opportunity to shop at discounts and get freebies on a wide variety of items including groceries, cosmetics, phone accessories, home appliances, food, beverages and others during the Yuletide.

FoodCo is a diversified consumer goods company with interests in retail, quick service restaurants, manufacturing and entertainment. The company currently operates the largest supermarket chain brand in south-west Nigeria, outside Lagos.

FoodCo was listed in the inaugural 2022 list of Africa’s Fastest Growing Companies by Financial Times. The Akala is the fourth brand store opened this year.