The Souk in San Ramon Sold to Private Equity Firm

SAN RAMON, Calif., October 7, 2022 (Newswire.com) - Brilsam Inc. ("Brilsam"), an operationally focused, leading provider of technology-driven retail solutions, is pleased to announce the sale of their direct retail store business - The Souk Market ("Souk") - based in San Ramon, CA, to a private equity firm. 

Brilsam built Souk in San Ramon as part of the direct retail store arm of the company and has served as an incubator and proof-of-concept to test, optimize and showcase the value-add services of their proprietary technology platform. One of the cornerstones for Souk was to provide an AI-driven platform for retail food products - from inception to launch. Since opening its doors in 2016, Souk has become a leading provider of ethnic groceries and helped launch multiple products successfully in the local market. With custom analytics on buying patterns and forecasting, Souk was able to avoid disruption despite supply chain issues during the pandemic.

"The Souk has helped us become operationally efficient and optimize the supply chain, demonstrating success at the peak of panic buying during the pandemic when we were able to meet the increased demand without increasing the prices," said Asheesh Banga, partner at Brilsam. The Souk has been instrumental in enabling small entrepreneurs - be it fresh bread, bakery, sweets, spices, sauces, cosmetics - to test and launch their product offerings with minimal risk and investment.

Danish Banga, CEO, added, "It is time to focus on helping other retailers replicate the tremendous growth and success from leveraging technology in the retail segment." The company continues to invest heavily in research, software development and smart solutions for the retail industry. The company will continue to operate its remaining stores in other locations.

Source: Brilsam Inc.