OK Zimbabwe assumes management control and re-brands Makro
OK Zimbabwe Limited ,(“OK”) recently concluded a transaction to acquire the two Makro operations in Zimbabwe comprising of 8000m2 of retail space in Harare and 5000m2 in Bulawayo. Ownership of Makro’s operations was assumed at the end of February 2011 and a new brand store opens following a re-branding campaign.
Commenting on the transaction, Mr Willard Zireva CEO, OK Zimbabwe, said “We have also assumed the employment of over two hundred employees which enables us to retain key skills in the business and ensure job security for others.”
The re-branding work undertaken at the former Makro stores is an additional project to the refurbishment work already being undertaken in various OK outlets. The refurbishments are a continuation of the work started in 2010 where the company rebuilt OK Masvingo which had been gutted by fire in 2007, refurbished OK Kwekwe (November 2010) and rebranded OK Second Street Extension to Bon Marche Belgravia (December 2010).
The company plans to have three more outlets facelifts by the end of the first quarter of its financial year 2012 at the end of June. These are OK Avonlea, OK Queensdale and OK Chiredzi. Later in the year, OK Marimba will also be refurbished.
“These efforts position the company favourably against competition and helps us to retain our current leadership position.” said Mr Zireva.
The re-branded Makro Stores, which are now called OK Mart, have in excess of 25,000 product lines (about 28,000), which the Company anticipates will increase within a short space of time.
OK Mart has at least 20 departments including sport, outdoor and camping, hi-tech, butchery, clothes and textiles, DIY, stationery and general groceries. The re-branded store also has a coffee shop and the Harare outlet boasts of 300 bays of parking space.
31 March 2011
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OK Zimbabwe Limited (OKZ.zw)Share price: 6,999.55 ZWL cents ▲ (250.14 | 3.71% – 22/03/23)
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