Costcutter to expand operations to Pakistan
International retail chain Costcutter operates through 1,550 branded and franchised stores across the United Kingdom and many of its stores are owned by British Pakistani business community.
Colin Grave, Costcutter’s founder and former Chairman told this correspondent in an exclusive interview that Costcutter overseas had finalised its plans for Pakistan and executive board’s president Najib Khan and Chairman Majed Chaudhary, will travel to Pakistan to formally start work on the opening of the Costcutter chain.
Colin Grave said: “We plan to introduce a very different concept to Pakistani retail market which offers vast opportunities to do business. Its consumer population is fast growing and we definitely want to tap into that market and introduce our concept which is based on providing convenience and competitive prices to its customers.
He talked optimistically about the difference Costcutter pakistan will bring to the Pakistani cosmopolitan landscape, through it’s well established corporate social responsibilities.
He said the decision to go to Pakistan was taken after a long research which convinced the directors of Costcutter overseas not to ignore the huge Pakistani market. Costcuter is one of the largest and amongst the top 5 independent retail brands in the UK.
He agreed that Pakistani businessmen also were very keen on the idea of doing business in Pakistan, and this is also a way for them to pay something back to their motherland.
Najib Khan and Majed Chaudhray agreed: “We visit Pakistan regularly and we realise that the country offers huge opportunities. We have never faced any problems in the country and our home work suggests that there is little risk to any good concept going wrong in Pakistan. The buying power of Pakistanis is increasing and we are happy to provide them better quality food items. There are negative stereotypes attached with the country over security matters but we know the reality is vastly different from the perception. We plan to expand to smaller cities in the near future.”
The two businessmen have been encouraged by the success of their business venture which they recently opened in Morroco.
The Costcutter overseas decision comes after the group successfully struck a deal with GETZ Chairman Ray Simkins, for its subsidiary Miller and Phillips of Pakistan, which is 3rd largest pharmaceutical and one of the largest and oldest distributor in Pakistan.
During his visit to the UK, prime Minister Yousuf Raza Gilani also met Ray Simkins, Colin Grave, Najib Khan and Majed Chaudhary and welcomed the Costcutter’s interest in Pakistan.
Source: www.thenews.com.pk
