Service Industries Limited

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Servis Industries Limited
Servis Industries Limited
Company type Public
PSX:  SRVI
KSE 100 component
Industry Leather
Founded1941;83 years ago (1941)
FoundersChaudhry Nazar Mohammad
Chaudhry Muhammad Hussain
Chaudhry Mohammad Saeed
Headquarters
Gulberg, Lahore
,
Pakistan
Area served
Worldwide
Key people
Chaudhry Ahmed Javed (chairman)
Chaudhry Omar Saeed (CEO)
ProductsShoes, tyres, and tubes
RevenueIncrease2.svgRs. 96.520 billion (US$330 million) (2023)
Increase2.svgRs. 13.183 billion (US$46 million) (2023)
Increase2.svgRs. 2.841 billion (US$9.8 million) (2023)
Total assets Increase2.svgRs. 85.832 billion (US$300 million) (2023)
Total equity Increase2.svgRs. 18.969 billion (US$66 million) (2023)
Number of employees
7,902 (2023)
Subsidiaries Service Tyres
Service Retail
Service Industries Capital
SIL Gulf FZE
Dongguan Service Global
Service Global Footwear (79.43%)
Service Long March Tyres (32.09%)
Website servisgroup.com
Footnotes /references
Financials as of 31 December 2023 [1]

Service Industries Limited, doing business as Servis, is a Pakistani shoes and tire manufacturer which is based in Lahore, Pakistan. [2] [3]

Contents

Service factories are located in the Pakistani cities of Gujrat, Muridke, Nooriabad, Raiwind, Negombo, Sri Lanka. [3] The company had humble beginnings in 1941. Servis Shoes is a shoe manufacturing company and Servis Tyres is a tire manufacturing company working under the Servis Industries Limited. [4]

History

Service Industries Limited (SIL) was founded in 1941 by a group of college friends, namely Chaudhry Nazar Mohammad, Chaudhry Muhammad Hussain, and Chaudhry Mohammad Saeed. [5] It initially produced handbags and sports goods. [6] During World War II, Service supplied boots to the British Indian Army. [6] In 1953, the company established Halal Tanneries, and in 1954, it opened a shoe manufacturing plant in Gulberg industrial area of Lahore. [6]

In 1959, Service relocated its operations to Gujrat, where it opened Pakistan's first organized shoe factory. [6]

From the 1960s to the 1980s, Service diversified its product portfolio to include textiles, motorcycle tires, and gas masks. [6] In 1965, the company formed a retail subsidiary called Service Sales Company (SSC), which opened stores near those of its competitor, Bata Pakistan. [6] By 2007, SSC had surpassed Bata in sales, and by 2010, SIL had become a major shoe exporter and had over 450 retail outlets in Pakistan. [6]

In 2011, Service's ownership was passed to the founders' descendants, with Omar Saeed, a third-generation family member, becoming the CEO. [6] Under Saeed's leadership, SIL introduced changes in its retail operations, such as adopting a new store format under the Shoe Planet brand, which contributed to business growth. [6] During this period, SSC also made changes in its managerial practices and product offerings. [6]

Subsidiaries

Footwear brands

See also

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References

  1. ↑ "Service Industries Limited Annual Report 2023" . Retrieved 18 May 2024.
  2. ↑ Jamal, Nasir (11 April 2016). "Responding to the call for diversification". DAWN.COM.
  3. 1 2 "Servis: the iconic shoe company doubles down on its tyre manufacturing business". Profit by Pakistan Today. 17 January 2021.
  4. ↑ Servis Group incorporating wholly-owned subsidiary company Business Recorder (newspaper), Published 17 October 2015, Retrieved 8 May 2019
  5. ↑ Hussain, Dilawar (7 April 2014). "Putting the best foot forward". DAWN.COM.
  6. 1 2 3 4 5 6 7 8 9 10 Chatha, Kamran A. (4 March 2019). "Service Tyre and Tube Division: Strategic Capabilities for Business Growth". Asian Journal of Management Cases. 16 (1): 51–75. doi:10.1177/0972820119825981 – via CrossRef.
  7. 1 2 3 Competition in shoe market is heating up, Business Recorder, Published 31 March 2017, Retrieved 8 May 2019
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