advertisement

Companies

Naivas to open new outlet at the city centre

Naivas is upbeat the store will be its best-performing branch in revenue terms. FILE PHOTO | NMG
Naivas is upbeat the store will be its best-performing branch in revenue terms. FILE PHOTO | NMG 

Naivas Supermarkets will open a new outlet on Moi Avenue on Wednesday in a bid to tap shoppers in the largely underserved area of the Nairobi’s central business district.

The market gap was created by the shock closure of Tusky’s Beba Beba branch over disagreement with a new landlord who has since redeveloped the property into shopping and office stalls.

Naivas will be moving into the premises deserted by Barclays Bank #ticker:BBK on October 1 at the junction of Kenyatta Avenue and Moi Avenue.

The retailer is upbeat the store will be its best-performing branch in revenue terms.

“This is a very strategic location. It will probably contribute at least 5.2 to 5.5 per cent to the top-line,” Naivas chief commercial officer Willy Kimani said in an interview.

The store increases Naivas’ branch network to 43. The retailer had initially planned to open the new outlet on November 15, but this was pushed back by a month due to “extra modification” works.

“ We were ready to actually open with a normal look, but we really had to upgrade it,” Mr Kimani said, but refused to disclose the cost of refurbishment.

Family-owned Naivas has focused its expansion strategy on underserved locations, sometimes tapping into areas where shoppers have been disappointed by troubled Nakumatt, the giant retailer that has fallen under the weight of a heavy debt load.

advertisement