SIBCO Private Limited completed five years in operation on 10 January 2021 with significant growth in terms performance over 2020 and expansion of distribution channels and portfolio. Belonging to the FMCG industry, especially with significant contribution from the food products range, SIBCO has managed to grow its revenue and profitability for the company and establish as a stable group today with approximately 100 people.
In the meantime, SIBCO declared open a world class supermarket named Family Grocer, at Janavaree Magu, Male’, during the peak of pandemic in July 2020 with high quality products including a large range of frozen and fresh products from around the globe. Family grocer imports fresh vegetables and fruits from Netherland and a variety of dairy products from the Middle East on a weekly basis to cater the needs of the quality seeking segment from Male’. The Mart also makes available a good range of local produce fresh from the market on a daily basis. The supermarket is open from 8.00 am to 11.00 pm with a well-trained team lead by a professionally qualified and experienced manager under SIBCO Retails PVT a subsidiary of SIBCO Group.
Further, SIBCO opened its brand-new model of wholesale mart at M. Glory Aage, Faamudheyri Magu. The shop owners in Maldives can benefit in multiple ways by dealing with ONE BAZAR as they can purchase a vast range of fast-moving high-quality products from around the globe under one roof at very competitive prices. Completely different to the traditional wholesale businesses in Maldives, ONE BAZAR has invested in space and fittings and displayed the whole range of products according to the modern trade concept that will facilitate the customers to move around and make their best choices off the shelves. Further, this new outlet will serve the customers from 9-to-9 to additionally cater to the urgent needs of the retailers and other wholesalers after hours as well, while it is situated away from the hustle and bustle of the wholesale bazar area to make their choices more peacefully and effectively. It is worth visiting to experience the uniqueness and reap the benefits. ONE BAZAR was the fifth outlet by the group adding to the main SIBCO Bazar in the Male’, branches in Fuvahmulah and Addu and the Family Grocer Supermarket at Janavaree Magu.
While ONE BAZAR is a new segment, SIBCO Foods PVT LTD caters to the resort segment since September 2019. A large range of products being added to the portfolio, now the resort supplies segment is well poised to cater to the demands of the resorts with variety and quality of products.
SIBCO, the parent Company has been in the trade for over five years importing a variety of fast-moving consumer goods and distributing around the country. The Company’s premium brands had been Al Mudhish, Fresh, MamyPoko Pants, Falak, Duracell, Selpak, Wonda, Goodday, and Tetley. During 2020 the Company also added high quality range of products including Jazaa Foods’ authentic pastes and spices from Pakistan, Duru brand personal care products from Turkey, Daddy noodles from Malaysia, Amiga and Nacional brand cookies & food products from Portuguese, Max, Bonus Tristar, and Express Power household cleaning products from Pakistan, Ella brand vegetable cooking oil from Malaysia, and Colgate Toothbrush, Toothpaste and Mouthwash to the portfolio. This will benefit our loyal customer base.
The Chairman and the Board of Directors are humbled to the fact that the group was able not only to pay the salaries and benefits without any interruptions during the Pandemic, but also to provide employment to more people and continue to serve the community. Further, the company also expanded its portfolio from a handful of brands to over 40 brands to distribute officially in the Maldives. The company also directly imports a large range of other products to cater via the retail and wholesale marts. The group is looking forward for further growth opportunities for expansion and serve the people of Maldives.