COMPANY NEWS IN BRIEF
COMPANY NEWS IN BRIEF
Shoprite launches division to develop small suppliers
Retailer Shoprite has launched a new division that will help to grow and provide commercially viable small and medium sized enterprises with access to its market.
Through Shoprite Next Capital, the entrepreneurs will be supported with marketing opportunities, working capital assistance, packaging and labelling support, data sharing, product range and geographic expansion.
The support could also include private label partnerships with the retail giant.
"This new division will provide SMMEs with easier entry into the group’s retail market, with direct access to buyers that understand their needs, combined with personalised growth plans that will assist suppliers to scale up gradually," said Shoprite’s general manager for enterprise and supplier development, Maude Modise.
Speaking at the launch in Johannesburg on Tuesday evening, Modise explained that Shoprite Next Capital is a continuation of the retailer’s mutually beneficial partnership with its small suppliers.
"In the last fiscal year, we procured 32% more than in the previous year, from small suppliers, this has facilitated the expansion of a number of these suppliers both geographically and via product extension," Modise explained.-Fin24
Shoprite launches division to develop small suppliers
Retailer Shoprite has launched a new division that will help to grow and provide commercially viable small and medium sized enterprises with access to its market.
Through Shoprite Next Capital, the entrepreneurs will be supported with marketing opportunities, working capital assistance, packaging and labelling support, data sharing, product range and geographic expansion.
The support could also include private label partnerships with the retail giant.
"This new division will provide SMMEs with easier entry into the group’s retail market, with direct access to buyers that understand their needs, combined with personalised growth plans that will assist suppliers to scale up gradually," said Shoprite’s general manager for enterprise and supplier development, Maude Modise.
Speaking at the launch in Johannesburg on Tuesday evening, Modise explained that Shoprite Next Capital is a continuation of the retailer’s mutually beneficial partnership with its small suppliers.
"In the last fiscal year, we procured 32% more than in the previous year, from small suppliers, this has facilitated the expansion of a number of these suppliers both geographically and via product extension," Modise explained.-Fin24
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