Inspite of the challenging economic climate, foremost omnichannel retailer, Foodco Nigeria Limited, has doubled its branch network in two years making it perhaps the fastest growing company in the category.
This was disclosed during the unveil of the company’s latest store in Ajah Lagos, Nigeria’s commercial hub. The new store is the 13th brand outlet in the south-western region where Foodco currently operates.
The launch of the Ajah outlet follows the unveiling two weeks ago of Foodco’s Ologuneru Plaza in Ibadan, Oyo State which offers full range of Foodco services and promises to bring low prices and high quality products and delicious cooked meals at low prices.
Speaking on the Lagos outlet, Ade Sun-basorun, the Managing Director, Foodco Nigeria Limited stated that it houses general merchandise, grocery, a Quick Service Resturant and entertainment centre and it is positioned to bring the joy of high quality retail to a growing suburb in Lagos.
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He said: “Rolling out two stores in two weeks is simply a continuum in what has been a consistent and successful expansion that has seen the Foodco double its foot print in two years.the business has equally been commited to bringing affordable great products to customers both offline and online, leading to its investment in creating Nigeria’s first true online supermarket which affords residents of Ibadan and Lagos to get access to its full assortment of modern retail from the comfort of their homes withing a matter of hours”.
When asked why the investment continued in the face of the challenging economic cycle and questions of sustainability of modern retail in Nigeria, Sun Basorun said: As a brand, we are deeply commited to helping our customers save money and there is no time they need to do that more than during the challenging economic cycle. And having been around for 38 years, the Foodco brand is wrapped around a rich legacy of outstading customer service driven by innovation.
Sun Basorun further added that the choice of Ajah is in line with the brand’s strategic approach to deepen retail penetration particularly among emerging communities who prefer the convenience and comfort that modern retail offers.”
