The full termination of the agreement is expected by the end of June 2025, after which all 19 former Pick n Pay stores will become Model stores.<\/p>\n\n\n\n
O&L said that its retail journey began with Model in 1965, and now, 60 years later, it is returning to the brand.<\/p>\n\n\n\n
The O&L Group was founded in 1919 and is Namibia\u2019s largest privately held business enterprise.<\/p>\n\n\n\n
According to O&L, Pick n Pay opened its first store through the group in 1997 at the Wernhil Park shopping mall, which formed the flagship of all stores currently in Namibia.<\/p>\n\n\n\n
The store was originally a Model store, which opened at the mall in 1990.<\/p>\n\n\n\n
In July 2024, the group\u2014operating as Pick n Pay Namibia\u2014said it would terminate the franchise agreement with Pick n Pay South Africa by 30 June 2025, committing to a 12-month transition period.<\/p>\n\n\n\n
“While we appreciate the long-standing partnership we have had with Pick n Pay South Africa, we are confident that this decision aligns with our commitment to being a more customer-centric and Namibian market-oriented business,” it said at the time.<\/p>\n\n\n\n
The termination of the franchise agreement came around the same time that Pick n Pay reported a significant R3.2 billion loss for the financial year ended 29 February 2024 (FY24).<\/p>\n\n\n\n
The group subsequently initiated a host of changes, including a new CEO, Sean Summers, an oversubscribed rights offer and the separate listing of Boxer stores in the JSE.<\/p>\n\n\n\n
The retailer also shifted its store strategy, looking to cut around 100 loss-making stores in the country and focusing on renewing and revitalising the Pick n Pay brand and operations.<\/p>\n\n\n\n
The shift also brought about another significant ending for the group: the ownership structure officially changed with the Ackerman Family giving up control of the retailer after 57 years at the helm.<\/p>\n\n\n\n
In its interim results for the six months ending August 2024, Pick n Pay acknowledged the termination of its long-standing franchise agreement with O&L in Namibia, but said it would continue to explore opportunities for the brand in the country.<\/p>\n\n\n\n
At the end of August 2024, it listed 36 stores in Namibia. O&L owned 19 Pick n Pay franchise stores in the country.<\/p>\n\n\n\n One of Pick n Pay’s longest franchise agreements is coming to an end after 27 years\u2014with a fresh rebrand for its former partners in Namibia launching in July.<\/p>\n","protected":false},"author":10,"featured_media":811720,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[22061,4067],"class_list":["post-817431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-model-namibia","tag-pick-n-pay"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/817431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=817431"}],"version-history":[{"count":8,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/817431\/revisions"}],"predecessor-version":[{"id":817489,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/817431\/revisions\/817489"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/811720"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=817431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=817431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=817431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/03\/Model-1990.jpg\")
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