The retail group, in which South Africa’s Pick n Pay has a 25% stake, said its new brand – an old TM logo sitting on a red circle – had employed colours and shapes that embody its renewed commitment to the shopping public.
“Red for attention, energy, movement and the excitement we are bringing to our outlets. Blue for our steadfastness and dependability, and the loyalty we have to you, our most valued customers,” said a public announcement.
Zimbabwe Stock Exchange-listed Meikles, which controls the supermarket chain, recently revealed that it required US$21 million in fresh capital. Of that amount, US$11 million is required for capital expenditure while US$10 million is required for working capital.
The new brand will usher in a revamping of technology in TM outlets. TM only has point of sale technology in six of its 53 branches. This, said Meikles CEO Brendan Beaumont recently, had been “the key issue in shrinkage and management of selling prices”.
Post published in: Economy