SACO announces its strategic plan for two years 2019 and 2020

16/01/2018 13:09 AST

Saudi Company for Hardware is pleased to announce that it began to implement its strategic plan for the coming two years (2019, and 2020), which aims to support the company's status, diversity, and expansion in KSA and markets of Gulf Cooperation Council Countries.

Based on SACO's leading position, the strategy will reconfirm and reinforce the economic position of the company.

The strategy main focus will be:

1. Continue the focus on growing our chain by adding in 2019 and 2020 additional 40 000 M2 that translate into additional 7 stores and a total of 40 stores by year end 2020 and a total retail area of 228,070 Sqm.

2. Adding new categories to continue our customer satisfaction and expectation on our variety.

3. Additional services for our customers.

4.Greater focus on Ecommerce and additional sales channels to reinforce our position in the market.

It is worth mentioning that SACO will continue moving forward in the expansion plan which was announced on 13/01/2016. During 2016 and 2017, and after excluding the closed stores during this period, SACO has successfully opened (6) six stores and increased the net sales area by (35,614) sqm, thus achieving (67.2 %) of the initial plan announced on 13/01/2016 in just two years, and (17,100) sqm will be added during 2018.

In the coming years, the main focus will be on efficiency and cost optimization measures to maintain distinctive position in an increasingly competitive and cost-effective environment.

This strategy will be financed from the operating cash flow, as well as taking advantage of other Sharia-compliant finance resources.

Tadawul