After an extended period of nervous economic activity compounded by slow payment schedules and other depressing factors, the New Year holds promising prospects but most businesses are cautiously optimistic of increased sales, productivity and profitability.
“Market feedback indicates that 2011 would be a better year, certainly more vibrant than the preceding two years,” says Nilesh Prakash, Director of the Auckland based Globex Import & Export Limited, one of the premier companies involved in international trade.”
Uma Chand and Romit Prakash, other Directors of the Company agreed, saying that the worst may be over.
“As the host nation, New Zealand will reap the benefits of the Rugby World Cup later in the year. The hospitality industry is expected to do well and the flow-on effects in the economy will be positive.”
But careful planning, financial discipline and proper business forecast kept Globex in good shape.
“There was no decline in our business activity throughout the period of recession but there was no impressive growth. We maintained our market share, improved our product range and served our customers to the best of our ability. We are looking forward to a better year,” Nilesh said.
However, escalating cost of goods and services, perpetuated by rising fuel and other prices is a challenge that these companies must encounter to remain profitable.
Impressive growth
Established in 2006, Globex initially imported dishwashing paste and soy sauce. A number of other items including rice, oil and biscuits followed.
Today, the Company has a growing list of products from Fiji and other countries. The range includes foodstuffs, frozen vegetables, frozen seafood, pulses, grains, confectionary, cleaning products, healthcare products and household items.
“These are sourced and imported directly from a number of countries in Asia and distributed throughout New Zealand and Pacific countries. We constantly look for new products and new markets,” Nilesh said.
Globex also has a long list of well-known brands including Bongo, Twisties and UFO, imported from Fiji for distribution in the region.
A strong Retail Arm
Apart from prudent management, Globex has an additional advantage of the Food for Less Supermarket chain, its retail arm, which has been growing from strength to strength, since its inception about six years ago.
In many ways, the Supermarket has been significant to the growth of Globex. The first retail outlet in Otahuhu quickly became a landmark in the area, with thousands of shoppers benefiting from its extensive range of products, backed by attractive display, low prices, specials on several items and knowledgeable and friendly staff. The second retail store opened in New Lynn last year.
Says Nilesh: “Our mission at Globex and Food for Less has always been to offer high quality goods at low prices and optimise customer satisfaction. Although competition has become fierce over the years, we have been fortunate to have a growing number of loyal customers. We believe in giving the best at the best possible price.”
Globex brings the price advantage obtained through bulk imports and passes it on to retailers in its network and of course at its own Supermarkets.
Romit said the Company has been catering to a cross-section of the society.
“It is not just the members of the Indian community who benefit from the wide range of products that we import; this benefit is available to all retailers and through them to all ethnic groups in the country,” he said.
With its uncompromising approach to quality and pricing, Globex is today one of the largest companies of its type in New Zealand.
The enterprise has continuously expanded and added products and services to accrue benefits to people.
A success story
Globex Import & Export Limited is a success story, embellishing New Zealand’s corporate history. It is a story of a family that achieved fame and fortune through timely investment and team spirit.
The Company and its owners epitomise the saying that hard work, fortified by sincerity, honesty, integrity and dedication will be followed by rewards – financial and social.
Globex and Food for Less became successful companies because they offered – and continues to offer – items of daily need to the average New Zealand family.
But success did not come about overnight.
Many years ago, Uma Chand began as the owner of a fresh vegetables and fruits farm in his native Fiji.
“Life was tough, the hours of work were long, but there is no alternative to progress. Besides, if you love what you do, there is no problem,” he told his two sons Nilesh and Romit.
Managing a hundred acre farm back home was tough, but for Mr Chand and his growing sons, it was exciting and enterprising.
Now the same spirit rules Nilesh and Romit looking after two spacious and well-appointed supermarkets and Globex.
“Competition is rife and hence it is even more a challenge,” Nilesh says.
“Our pricing policy is not confined to goods that have shorter shelf-life. We try to provide almost all items-be they cosmetics or detergents, spices or beverages, food items such as rice and wheat used daily – at prices that are attractive and lower than what competitors offer. We realise the need,” Nilesh said.
