Shoprite eyes more stores and jobs
Fight for market share will be waged among lower-income consumers
Shoprite has big expansion plans - particularly in the highly contested lower end of the market - that will see hundreds of new outlets open and could create up to 10,000 direct jobs. Shoprite CEO Pieter Engelbrecht said this week the group is looking to increase the number of USave stores - its basic-goods brand - from 398 to 1,000 over the next three to four years, with 30 of the new stores opening in financial 2022. Boosting the group's strategy to increase its footprint in areas that target lower-income consumers is the acquisition from Massmart of Cambridge Food, Rhino, Massfresh and Cash & Carry for R1.36bn. The 68 stores, 43 liquor outlets and other facilities in these chains will be relaunched under Shoprite's various brands.Engelbrecht said this transaction, which still needs competition authority approval, includes Shoprite taking onto its payroll about 7,000 people now working for the Massmart chains. The Shoprite group believes there are substantial ex...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.