Choppies CEO Ram Ottapathu has stated that the retailer is looking to grow its total store network from 203 stores in 2016 to 250 in 2018. It plans to open 26 stores in 2017. Ten of these new stores will be in Zambia, and two will be in Zimbabwe. The company is set to open in Mozambique in early 2017 and also has stores in South Africa, Tanzania and Kenya.
Choppies shares have taken a massive hit since the start of 2016 as rising food prices and the recession in South Africa has taken hold and the retailer’s reliance on stores in mining towns has affected revenues. A core part of Choppies’ future strategy will be to diversify away from mining towns.
