Pick n Pay Stores

Pick n Pay Stores Ltd.
Public
Traded as JSE: PIK
Industry Retail
Founded 1967[1]
Headquarters Kenilworth, Cape Town, South Africa
Key people
 Gareth Ackerman
(Executive chairman)
Richard Brasher
(CEO)
Revenue Increase $4.07 Billion(FY 2015)[2]
$152.11 million
Total assets $11.19 billion
Total equity $2.14 billion
Number of employees
 54,400 (over 80,000 including franchise stores) [3]
Website http://www.picknpay.co.za

Pick n Pay is the second largest supermarket chain store in South Africa, established in 1967. It can also be found in other regions of southern Africa, such as Botswana, Zambia, Zimbabwe, Lesotho, Namibia, Swaziland, and had plans to open in Malawi but has yet to do so. The founder of the chain was Jack Goldin, a native of Obeliai, Lithuania who moved to South Africa when the Nazis invaded his town. Raymond Ackerman purchased three Pick n Pay supermarkets in Cape Town from Goldin, and served as executive chairman until his retirement in 2010. His eldest son, Gareth, is the current chairman.[4]

A Pick n Pay parking lot in Germiston, Gauteng.

Other supermarket store chains in South Africa that are part of the Pick n Pay group are Score Supermarkets and Boxer. However, Pick n Pay is currently converting Score supermarkets into Pick n Pay franchises. This initiative forms the core of Pick n Pay's economic empowerment scheme.

Due to a slump in profits in July 2011 the company told labour unions that it would lay off 3,137 of its 36,673 staff.[5]

Rebranding

Pick 'n Pay store in Windhoek, Namibia

The Pick n Pay brand, which had previously remained largely unchanged since the 1970s, was redesigned in 2007. On 12 November 2007, the company announced a brand transformation in the form of a brand redesign, new uniforms, advertising campaigns, and the slogan "Inspired by You". This rebranding of the iconic Pick n Pay brand led to the disappearance of the apostrophe which appeared before the "n", which led to uproar among those working for the preservation of the apostrophe.

Store types

  • Pick n Pay Hypermarkets (owned: 20 stores)
  • Pick n Pay Supermarkets (owned: 237 stores)
  • Pick n Pay Family (franchise: 2 stores)
  • Pick n Pay Liquor (owned: 214 stores; franchise: 181 stores)
  • Pick n Pay Local (owned: 31 stores)
  • Pick n Pay Clothing (owned: 156 stores; franchise: 17 stores)
  • Pick n Pay Express (franchise: 111 stores)
  • Pick n Pay Pharmacy stand-alone(owned: 3 stores)
  • Pick n Pay Mini-markets and Daily (franchise: 20 stores)
  • Pick n Pay Spaza (franchise: 6 stores)
  • Boxer formats (owned: 229 stores)

Australia

In 1984 a Pick n Pay Hypermarket was opened in Aspley, Queensland, and in Sunnybank Hills, Queensland, Australia in 1994. It was bought by Coles Myer in the 1990s.

When the Aspley store opened, they invited all mothers who had given birth on the store's grand opening date of 7 November 1984 to bring their newborn children each year for a birthday party. These birthday parties lasted until the mid 90's when the store was bought out.

Pick n Pay owns the remaining Franklins supermarkets in Australia, which were sold off by Dairy Farm International Holdings Limited in 2001 after the store's mass-expansion had landed the store in financial trouble. Other Franklins stores were bought by Coles Myer and Woolworths Limited and re branded under their respective supermarket brands.

References

  1. ↑ Pick n Pay website, About Us
  2. ↑ Pick n Pay Stores Ltd year-end results, 21 April 2010
  3. ↑
  4. ↑ Marrs, Dave (2010-03-11). "South Africa: Ackerman Retires But Keeps Hand in". Business Day (Johannesburg). Retrieved 2017-08-30.
  5. ↑ Pick n Pay to Slash Jobs as Profit Drops
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