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 issued Friday, 23 July 2010.
"We have encapsulated these positive characteristics in a circle which represents our never-ending endeavour to bring you real value always," said the supermarket group, which has 53 outlets countrywide.
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.
Only one store was on Friday 23 July 2010 decorated with the new identity, which will now be rolled out countrywide.
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".
