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Tinashe Makichi Business Reporter
Local fruit and vegetables retail firm, Food Lovers Market, has now shifted its focus to consolidating its market presence after completing an $8,5 million investment that went towards the opening of six branches this year.
Food Lovers Market director Mr Rafe Wetzlar said the company has completed its investments for this year and is now looking at repaying creditors and consolidating its presence on the local scene.
“We have now completed our investments for this year where the company is now sitting at six branches in Harare and Bulawayo. Since the beginning of the year we earmarked several investments aimed at expanding our retail portfolio as we continue to see several opportunities in the local market,” said Mr Wetzlar.
“Going forward we are looking at consolidating the investments that had already been made trying to find new opportunities for growth at the same time repaying our creditors.”
Mr Wetzlar said there is room for growth and the company will continue mobilising more investments to ensure the company’s presence across the country. Food Lover’s Market prides itself as haven for a wide variety of fresh produce on the local market. The company made an investment of about $2,5 million towards the development of a retail outlet in Glen Lorne.
Food Lovers also opened a new Borrowdale shop with an investment of about 2,8 million being put into the business. Following TM supermarket’s eviction from Avondale premises last year, Food Lovers Market took over the premises and invested about $2,6 million towards the upgrading of the premises.
Investment in total on refinancing and opening of the Bulawayo branch amounts to $8,5 million.
Online Reporter