Companies

LC Waikiki snaps up space at Junction Mall

waikiki

Turkish international fashion chain LC Waikiki store in Nyali, Mombasa. FILE PHOTO | NMG

Turkish fashion retailer LC Waikiki is set to open a new outlet at the Junction Mall on Ngong Road, growing its branch count in Kenya to five.

The multinational’s latest branch at the busy mall follows the opening of its TRM outlet on Thika Road late last year, snapping up space formerly occupied by Deacons East Africa’s 4U2 outlet.

The fashion clothing line’s other branches are at the Hub Mall in Karen, Two Rivers Mall and City Mall in Nyali, Mombasa.

The Ngong Road branch comes after the fashion retailer failed to launch two more outlets in the country last year as previously announced by country manager Kremena Pencheva in June during launch of the Mombasa store.

The Turkish retail giant is on a rapid expansion binge in Kenya, two years after unveiling its first branch at Two Rivers Mall.

LC Waikiki, which currently operates over 850 stores in 38 countries, says it settled on Kenya as its entry point to the region due to its stable economy, low market saturation and a fast-growing retail-oriented middle class.

Fashion brands

Over the last few years, international fashion brands have opened stores in Nairobi, including The Foschini Group (TFG) of South Africa, UK’s F&F and Jewellery firms that include Austria-based Swarovski and India’s Anmol.

The retail chain was established in France in 1985 before becoming a Turkish brand in 1997. On average, LC Waikiki has managed to open 150 stores each year.

The firm is one of the fastest-growing fashion retailers in Europe, with a turnover of about Sh303 billion.

The firm is seeking to enter South Africa, its second destination in the continent, as it keeps up with its strategy of opening 1,500 stores in Africa by the end of 2023.