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 Servis outlet at Lucky One Mall | |
| Trade name | Servis Industries Limited |
|---|---|
| Company type | Public |
| Traded as | PSX: SRVI KSE 100 component |
| Industry | Leather |
| Founded | 1941; 83 years ago (1941) |
| Founders | Chaudhry 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) |
| Products | Shoes, tyres, and tubes |
| Revenue |  Rs. 96.520 billion (US$330 million) (2023) |
| Operating income | Rs. 13.183 billion (US$46 million) (2023) |
| Net income | Rs. 2.841 billion (US$9.8 million) (2023) |
| Total assets | Rs. 85.832 billion (US$300 million) (2023) |
| Total equity | Rs. 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 |
| Footnotes / references Financials as of 31 December 2023 | |
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.
Service factories are located in the Pakistani cities of Gujrat, Muridke, Nooriabad, Raiwind, Negombo, Sri Lanka. 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.
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. It initially produced handbags and sports goods. During World War II, Service supplied boots to the British Indian Army. In 1953, the company established Halal Tanneries, and in 1954, it opened a shoe manufacturing plant in Gulberg industrial area of Lahore.
In 1959, Service relocated its operations to Gujrat, where it opened Pakistan's first organized shoe factory.
From the 1960s to the 1980s, Service diversified its product portfolio to include textiles, motorcycle tires, and gas masks. In 1965, the company formed a retail subsidiary called Service Sales Company (SSC), which opened stores near those of its competitor, Bata Pakistan. 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.
In 2011, Service's ownership was passed to the founders' descendants, with Omar Saeed, a third-generation family member, becoming the CEO. 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. During this period, SSC also made changes in its managerial practices and product offerings.
Subsidiaries
- Service Retail
- Servis Tyres
- Service Industries Capital
- SIL Gulf FZE
- Dongguan Service Global
- Service Global Footwear (79.43%)
- Service Long March Tyres (32.09%)
Footwear brands
- Servis
- Cheetah, sport shoes
- Don Carlos, men's formal footwear
- Shoe Planet, high fashion brand shoes
- Liza, shoes for women
- Lark and Finch shoes
- Calza, shoes for men
- T.Z, shoes for kids
- Klara Shoes
- Ndure
See also
References
- "Service Industries Limited Annual Report 2023". Retrieved 18 May 2024.
- Jamal, Nasir (11 April 2016). "Responding to the call for diversification". DAWN.COM.
- ^ "Servis: the iconic shoe company doubles down on its tyre manufacturing business". Profit by Pakistan Today. 17 January 2021.
- Servis Group incorporating wholly-owned subsidiary company Business Recorder (newspaper), Published 17 October 2015, Retrieved 8 May 2019
- Hussain, Dilawar (7 April 2014). "Putting the best foot forward". DAWN.COM.
- ^ 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.
- ^ Competition in shoe market is heating up, Business Recorder, Published 31 March 2017, Retrieved 8 May 2019
