By Clive Makumbe and Martin Mawaya
OK Zimbabwe has invested $20 million towards the refurbishment of branches countrywide including the recently opened Gweru branch as parts of their efforts to maintain their competitive edge in the retail sector.OK Zimbabwe Chief Executive Officer, Alex Siyavora said it is the company strategy to refurbish all its branches country wide to improve the company sales and profits.
“The standard of our shops where going d0own, we then approached shareholders in 2010-2011 to raise capital in order to restore our brand. We are eager to improve our profits and sales henceforth the need to refurbish the Gweru branch.
Through our shareholders we have managed to raise capital of 20 million which helped us brand refurbishment and opening new branches such as Okmart here in Gweru,” he said.
Siyavora stated that the refurbishment process was aimed at strategizing the brand and competitive edge of OK Zimbabwe in the future since foreign retailers were entering the retail sector.
“These renovations you are seeing here in Gweru, is part of the organization’s strategy to improve branch facilities, improve ambience and increase sales as well as people enjoying shopping in a good environment. The retail industry is becoming more and more fierce by the day,” he said.
He added that, OK Gweru is operating profitably.
“OK Zimbabwe especially Gweru branch is one of the outlets that is performing very well in terms of making profits and be able to plough back into the organization to help carry out such renovation. This branch is strategically positioned, it has maintained its loyal customers and we are expecting it to grow,” said Siyavora.
The chief executive officer pinned his hope on the government’s call for complete land utilization to improve production of locally produced products.
“As you are aware that most of our products comes from farming, our economy is agro-based hence the production in farming will help stabilize the prices.
The government monitoring program through the RBZ on 16 basic commodities is one of the measures that as an organization see it fit in the pricing stabilization, although there are outside market forces influence but the strategy plays a pivotal role in managing price increases,” he said.