Karachi: A Canadian company is planning to set up a new chain of mini-departmental stores under the banner of “Value Bazaar” all over Pakistan.
CE0 Bazaar Anjum Laiq said, "The departmental stores would introduce a new concept of retail market in the country, which will facilitate the masses and create multiple business and job opportunities for Pakistani citizens."
The company would invest Rs200 million to establish regional corporate stores in Sindh in the first designed project, which could facilitate 30 outlets, to be established next year.
Meanwhile, the first outlet of departmental store would start its operation by upcoming July in Karachi.
Talking about the features of Value Bazaar, he said the departmental stores will provide all the basic necessities of the people under one roof besides groceries which includes meat and dairy products, house ware, glassware and hardware, health and beauty products, paper and plastic products, cleaning supplies, confectioneries, audio and video, gift items and toy, party items and craft, stationary and greeting cards, fashion accessories and many other items.
The merchandise would be brought in the outlets from various countries on competitive rates,he added.
The company is currently working under the banner of “Dollar Bazaar” in 176 stores of Canada. This would be first ever investment outside the Canada.
Anjum Laiq mentioned that Pakistan is very lucrative market for foreign investors with its large population, investment friendly policies and a demography that speaks of potentially higher consumer spending.The interested entrepreneurs could seek franchise outlets with an investment of Rs15 million while the company would share 25 per cent investment in franchise.