Saresco Afrique reveals aggressive expansion plan after restructure

Tina Milton

Print Article E-Mail Article E-Mail Author

Saresco Afrique CEO Claude Benitah plans to open an office in Dubai to support further growth in the African duty-free market

Saresco Afrique has been acquired and restructured by a private investment fund, which will allow the company to fast-track its plans for expansion. Claude Benitah, who remains CEO said: “This new situation gives me enormous financial possibilities for the organisation of external growth through new acquisitions or new openings.”

The main targets for growth are still in African airports, ports and border shops and Benitah confirmed the group is working on a concept for a downtown chain of stores. The company will open an office in Dubai airport, with two or three staff, to support the supply of goods to its African shops and give it a base from which to manage acquisitions. Its main office is in Paris.

Turnover was up by 31% at Saresco last year compared to last year’s figures and Benitah said first quarter turnover for 2007 grew by 25% over the same period last year.

“Saresco is very profitable but for how long? In Africa the business environment can change everyday so that’s why we have to be careful to grow and look at a bigger geographical plan,” said Benitah.

Saresco Afrique operates nine stores in Senegal, Togo, Benin and the Congo, under the L’Archipel brand. Benitah bought the company with partners in 2001.