Naivas to open four more branches in next one month – Business Daily
Naivas foodmarket branch in Prestige plaza along Ngong road Nairobi on Sunday, April 4, 2021. PHOTO | DENNIS ONSONGO | NMG
Naivas Supermarket is set to open four more outlets in the next four weeks as it steps up its expansion drive and battle for market share growth against its closest rivals in the country.
The first outlet will be launched at Greenwood City Mall in Meru –which has been constructed partly with funding from private equity firm Fusion Capital– on October 31.
The second store will be opened in Kahawa Sukari in Kiambu County just opposite Engen Petrol Station a week after October 31 while the third branch which will also be opened at the same time will be based in Ruai.
The fourth store which will be opened by mid-November will be situated along Ojijo Road in Nairobi’s Parklands.
The upcoming stores will raise the retailer’s branch network across the country to 90 as its races to defend its market leadership against an aggressive QuickMart —which has opened 10 branches in the last 10 months.
Read: Kenya outpaces Ghana, Morocco and Nigeria in growth of supermarkets
“We are excited with the new developments coming up and especially with our grand entry into Meru town, the first Naivas in upper Mt Kenya region,” Naivas chief commercial officer Willy Kimani told the Business Daily in an interview.
“What we are saying is that we will continue filling the voids that exist as we approach the festive season.”
He said the four outlets will offer packed food, fresh vegetables, and fast-moving consumer goods such as beverages.
The retailer has been on an aggressive expansion drive in the last few months, taking up prime space vacated by rivals and also new strategic locations.
Besides the four new outlets lined up by the retailer in the next couple of weeks, Naivas also opened a new outlet in June in Kayole and in Naivasha along the Nairobi-Nakuru highway.
Naivas reported sales of Sh65.1 billion in the year ended June 2021 when its net profit stood at Sh2 billion, representing a net margin of 3.18 percent.
This was an improvement from the prior year when it made a net income of Sh1 billion on sales of Sh54 billion, amounting to a net margin of Sh1.9 percent.
Established in 1990, Naivas has grown to become the largest supermarket chain in the country with more than 84 stores and employed 8,000 people as of June.
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