Savola Retail is one of Savola’s two main entities. It is responsible for the group’s managed investments in the retail sector and makes a considerable contribution to our overall profits. In 2019, Panda Retail Company recorded a revenue of SAR 12 billion.
Savola’s profits in the retail sector are currently generated exclusively through the Panda Retail Company – Saudi Arabia’s leading grocery store chain. Panda operates a large number of grocery stores in three formats (hypermarket, supermarket ), with over 106+ sales transaction in 42 cities.
Savola has come a long way in the retail sector and has laid the foundations for strong future development. We are confident that Panda’s strong performance in Saudi Arabia can be replicated in other nations of the MENAT (Middle East, North Africa and Turkey) region, ensuring a bright future for Savola Retail as a whole.
PANDA RETAIL COMPANY IN FOCUS
Panda is a grocery store chain known and loved by 106 million customers in Saudi Arabia and Egypt. With a history dating back to 1978, it is a leading player in the retail sector. Panda Retail Company is operated under Savola Retail: one of Savola’s main entities.
Savola merged with Al-Aziza Panda United Company in 1998 and immediately revolutionized its business model. Al Azizia and Panda stores were united under the Panda brand to improve name recognition, and the new “Always Fresh… Always for Less” slogan outlined a clear differentiating factor for customers. After that, change became the norm for the chain as profits were reinvested in new store format: hypermarkets under the HyperPanda brand (2004). Savola Retail opened two Panda distribution centers and expanded the business to two new countries between 1998 and 2015.
We are immensely proud of this strong performance and sustained growth. And we are also proud that this has been achieved in a way that reflects Savola’s strong ethical ethos. Through initiatives covering vital topics such as health (“Be Healthy”), charitable giving (“Leave the Change for Them”) and the environment (“Friend of the Environment”), we believe Panda is making an invaluable contribution to the societies in which it operates.
Panda has established an operating company and a solid brand simultaneously. Panda Retail Company has created brand perception by paving the way through several activities to meet customer needs. As an example, Panda was the first retailer to introduce weekly leaflet for its offer and to distribute it “door to door” in all regions operates in.
SAVOLA FINANCIAL INVESTMENT IN RETAIL
Aside from Managed investments, Savola Group is the largest shareholder in Herfy Food Services Company with a 49% holding. Herfy is one of the leading restaurant businesses in Saudi Arabia, which also operates an industrial bakery and a meat processing business.
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