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Corporate

SA’s fashion chains Foschini and Edgars to open in Nairobi

Michael Turner, regional managing director of Actis. Photo/FILE
Michael Turner, regional managing director of Actis. Photo/FILE  Nation Media Group

South Africa luxury fashion houses will next year open shop in Kenya, offering consumers more choices and raising competition in the segment now dominated by Deacons.

Actis, a private equity fund, has said that Edgars and Foschini are some of the retailers that have booked space in its Sh12.6 billion real estate development on the Nairobi’s Thika Superhighway that is billed as Kenya’s biggest mall at 50,000 square metres.

“The continued growth of the middle class provides opportunities for consumer goods and services providers and fashion giants like Edgars and Foschini have booked space with others,” said Michael Turner, regional managing director of Actis.

“This makes East Africa one of the most attractive destinations for investors in real estate and consumer goods to build retail space and establish their presence,” Mr Turner said in an interview with the Business Daily.

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