OK Zimbabwe, which runs the OK, Bon Marche and OK Express retail outlets, said there were “many entrants into the retail business and competition for the limited disposable income is intense”.
“The company will continue to compete aggressively in order to increase its market share,” said chairman Eric Kahari in an update.
CEO Willard Zireva said OK Zimbabwe had “a comprehensive brand with a fuller range when compared to the other stores.”
TM Supermarkets, a subsidiary of conglomerate Kingdom Meikles Africa and the biggest retail operation in the country, said it was devising new strategies to “regain lost ground.”
OK Zimbabwe is hoping that even though TM has more outlets, it has the advantage of having more space that any retailer: 78000m2 in trading floor and 100,000 in back space.
