Leading omni-channel retailer, FoodCo Nigeria Limited, recently marked its 38th anniversary, consolidating its position as the oldest among the top-10 indigenous modern retail brands in Nigeria. Founded in 1982, the company, which started as a small fresh foods stall in Bodija, Ibadan, Oyo State, currently has interests in retail, quick service restaurants, manufacturing and entertainment, and operates the largest supermarket chain brand in South West Nigeria, outside Lagos. In a statement by the Executive Officer, FoodCo Nigeria, Ade Sun-Basorun, explained that the brand’s longevity in the market is due to the goodwill it enjoys from its wide customer base in addition to an enduring legacy of delivering excellent customer service at an affordable price. He said: “The occasion of our 38th anniversary affords us opportunity, once again, to thank our loyal customers, many of whom have kept faith in us for over three decades now. When we started, many of our customers were introduced to FoodCo as children coming into the stores with their parents and now, they are coming along with their own children. For that, we are grateful. “Within this time frame, we have grown from a small market stall to become a diversified consumer goods company with interests in key sectors of the economy. We are currently one of only two multichannel retailers in Nigeria offering both in-store and online customer experiences. “We have extended our operations to Lagos, Nigeria’s commercial hub, and expanded our branch network by a hundred per cent within the last two years. We have built trust and become critical partners to both our host and stakeholder communities with key interventions in education, healthcare, job creation and support for small businesses. “It has been an exciting and rewarding journey, even if challenging. In 38 years, we have seen many contemporaries come and go. We have been enriched by our experiences in the Nigerian market. We have our roots firmly entrenched in this space and we are committed to staying here for our customers and for Nigeria.” The statement added that as part of activities to mark Black Friday sales later in the month, FoodCo would be offering up to 50 percent discount off selected items across all outlets from the November, 27-29.
With the challenging economic climate, omnichannel retailer, FoodCo Nigeria Limited, has doubled its branch network in two years making it the fastest growing company in the category. This was disclosed at the unveil of the company’s latest store in Ajah, which raised its network to 13th brand outlet in the south-western region where FoodCo currently operates. The launch of the Ajah outlet follows the unveiling two weeks ago of FoodCo’s Ologuneru Plaza in Ibadan, Oyo State which offers full range of Foodco services. Speaking on the Lagos outlet, Ade Sun-Basorun, Managing Director, FoodCo Nigeria Limited said it houses general merchandise, grocery, a Quick Service Resturant and entertainment centre and is positioned to bring the joy of high quality retail to a growing suburb in Lagos. He said: “Rolling out two stores in two weeks is simply a continuum in what has been a consistent and successful expansion that has seen the FoodCo double its foot print in two years. The business has equally been commited to bringing affordable great products to customers both offline and online, leading to its investment in creating Nigeria’s first true online supermarket which affords residents of Ibadan and Lagos to get access to its full assortment of modern retail from the comfort of their homes withing a matter of hours.” Asked about why investment continued in the face of the challenging economic cycle and questions of sustainability of modern retail in Nigeria, Sun Basorun said: “As a brand, we are deeply commited to helping our customers save money and there is no time they need to do that more than during the challenging economic cycle. And having been around for 38 years, the FoodCo brand is wrapped around a rich legacy of outstading customer service driven by innovation. He said that the choice of Ajah is in line with the brand’s strategic approach to deepen retail penetration particularly among emerging communities who prefer the convenience and comfort that modern retail offers.” “We are optimistic that investments such as these will translate to a win-win outcome for all stakeholders within the ecosystem as well as re-inforce confidence in the Nigerian market amid the current global economic challenge and unique circumstance of the local environment,” he added. Founded 38 years ago in Ibadan, Oyo State, FoodCo is the oldest among the 10 top retailers in Nigeria and operates the largest supermarket chain brand in the south-west, outside Lagos.