Service Industries Limited Explained

Servis Industries Limited
Trade Name:Servis Industries Limited
Type:Public
Traded As:
KSE 100 component
Industry:Leather
Founders:Chaudhry Nazar Mohammad
Chaudhry Muhammad Hussain
Chaudhry Mohammad Saeed
Location City:Gulberg, Lahore
Location Country:Pakistan
Area Served:Worldwide
Key People:Chaudhry Ahmed Javed (chairman)
Chaudhry Omar Saeed (CEO)
Products:Shoes, tyres, and tubes
Revenue Year:2023
Income Year:2023
Net Income Year:2023
Equity Year:2023
Assets Year:2023
Num Employees:7,902
Num Employees Year:2023
Subsid:Service Tyres
Service Retail
Service Industries Capital
SIL Gulf FZE
Dongguan Service Global
Service Global Footwear (79.43%)
Service Long March Tyres (32.09%)
Footnotes:Financials [1]

Service Industries Limited (SIL) (Urdu: سروس انڈسٹریز لمیٹڈ), doing business as Servis, is a Pakistani shoes and tire manufacturer which is based in Lahore, Pakistan.[2] [3]

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]

Subsidaries

Footwear brands

See also

External links

Notes and References

  1. Web site: Service Industries Limited Annual Report 2023. 18 May 2024.
  2. Web site: Responding to the call for diversification. Nasir. Jamal. 11 April 2016. DAWN.COM.
  3. Web site: Servis: the iconic shoe company doubles down on its tyre manufacturing business. 17 January 2021. Profit by Pakistan Today.
  4. https://fp.brecorder.com/2015/10/201510171237220/ Servis Group incorporating wholly-owned subsidiary company
  5. Web site: Putting the best foot forward. Dilawar. Hussain. 7 April 2014. DAWN.COM.
  6. Service Tyre and Tube Division: Strategic Capabilities for Business Growth. Kamran A.. Chatha. 4 March 2019. Asian Journal of Management Cases. 16. 1. 51–75. CrossRef. 10.1177/0972820119825981.
  7. https://www.brecorder.com/2017/03/31/340950/competition-in-shoe-market-is-heating-up-ssc/ Competition in shoe market is heating up