When delving into the history of Servaid, it initially resembles a game akin to passing the parcel. Over its nearly two-decade existence, Pakistan’s largest (and sole) retail pharmacy franchise chain has transitioned ownership four times.
Originally established by the Servis Group, Servaid has exchanged hands among the three families governing the group. It has also witnessed the formation and dissolution of two consortiums, along with major foreign investors, including Saudis, becoming impatient and withdrawing their support.
However, a closer examination reveals that the situation isn’t merely about transferring ownership but rather a series of unfortunate timing and bad luck. One could argue that Servaid has faced a curse.
Despite these challenges, Servaid has maintained its status as one of the most recognizable pharmacy chains in Pakistan, particularly in Punjab.
So, why has no owner been able to retain it? Perhaps because the business has encountered significant losses, leading multiple investors to abandon their investment. The reasons for this are multifaceted.
Firstly, the pharmacy industry in Pakistan is inherently challenging. It is saturated with numerous small competitors, supply chains are often unreliable, and recruiting dependable staff and managers can prove to be extremely difficult.
Additionally, specific to Servaid, a succession of management groups has either lacked interest in its operations or been diverted by other business ventures.
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