Panda Retail Company

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Panda Retail Company
Native name
شركة بنده للتجزئة
Formerly
Azizia Panda United Company
National Retailers
IndustryHypermarket, food and drink
Founded1978; 42 years ago (1978)
Area served
Saudi Arabia, Egypt
Key people
Bandar Hamooh (Acting CEO)
ProductsRetail - Hypermarket
Number of employees
22,000
ParentSavola Group
Websitepanda.com.sa

Panda Retail Company is a Saudi Arabian grocery retailing company. Panda is one of The Savola Group’s subsidiaries. The Savola Group is ranked ninth amongst the top 100 companies in the Saudi Arabian market and ranked second amongst the industrial sector after SABIC. The Savola Group has recently listed its Oils and Fats division in the Saudi Stock market under the name Afia International.

History[edit]

October 1998: Panda United company has been acquired by Savola Group.[1][2]

September 2003: Azizia Panda United company makes it to the Guinness Book by launching the biggest pyramid-shaped box with Tide.[3]

March 2006: Azizia Panda United opens its fifth hypermarket in the Kingdom of Saudi Arabia.[4]

April 2006: United Azizia Panda opens its first outlet outside the kingdom of Saudi Arabia with an investment of AED 50 million (US$ 13.6 million). The outlet is located in Dubai’s Festival City.[5]

December 2007: United Azizia Panda makes sales worth SR3.7 billion in 2007, a 35% increase from 2006.[6]

June 2008: Al Azizia Panda United acquires Giant Stores in the Kingdom of Saudi Arabia and merges it into its operations.[7]

March 2009: Azizia Panda unveils the biggest bottle of shampoo in the world with 4,000 liters content of "Herbal Essences" and measuring 4.8m long.[8]

September 2009: Azizia Panda acquired Geant Stores, a franchise by al Hokair Group KSA through an asset purchase agreement.

July 2010: the minister of commerce and industry of the Kingdom of Saudi Arabia, Abdullah bin Ahmed Zainal Ali Reza approved the transformation of United Azizia Panda Company from a limited liability company to a closed joint stock company.[9] In 2010 Panda owned %7.7 of market cap of the kingdom's retail sector.[10]

2015 Panda opened its first store in Egypt.[11]

2016: In November, Panda Retail Company CEO Muwaffaq Mansoor Jamal, resigns after 12 years of service. Savola Group CEO Eng. Rayan Fayez named interim CEO until replacement can be found. As of June 2016, the company operated 65 HyperPanda stores and 156 Panda Chain outlets across Saudia Arabia.[12] In 2016 the retailer closed 51 Pandati stores.[13]

2017: In March, after nearly a decade of operating, the company shut Hyperpanda at Dubai Festival City Mall, its sole outlet in the UAE.[14] In December, Panda Retail Company interim CEO Eng. Rayan Fayez resigns. Former inspector general of the Saudi Ministry of Health, and CEO of Al Nahdi Pharmaceuticals Dr. Bandar Hamooh, named acting CEO.

References[edit]

  1. ^ Bloomberg Business week.
  2. ^ Khan, Riz (2005). Alwaleed, Businessman Billionaire Prince. New York: HarperCollins. p. 67-68. ISBN 9780060850302.
  3. ^ Azizia Panda sets new mark for Guinness Book of World Records Archived March 30, 2012, at the Wayback Machine.
  4. ^ Azizia Panda Savola to open its fifth hypermarket.
  5. ^ Savola unveils Dubai hypermarket plan.
  6. ^ Azizia Panda Logs SR3.7bn in Sales Archived March 30, 2012, at the Wayback Machine.
  7. ^ Azizia Panda sets new mark for Guinness Book of World Records Archived March 30, 2012, at the Wayback Machine.
  8. ^ Al Azizia Panda wins the spin on biggest shampoo bottle Archived October 6, 2012, at the Wayback Machine.
  9. ^ Aziziah Panda Transformed Into Closed Joint Stock Company
  10. ^ https://alphabeta.argaam.com/article/detail/31305
  11. ^ https://www.savola.com/en/investments/retail-investments/savola-retail/panda-retail-company
  12. ^ Panda Retail opens five new outlets in 30 days Arab News
  13. ^ Hyperpanda to shutter its doors in Dubai Festival City
  14. ^ Hyperpanda to shutter its doors in Dubai Festival City

See also[edit]

External links[edit]