waltham
JF-Expert Member
- Jan 23, 2014
- 2,522
- 1,045
Nakumatt to open 14 new supermarkets regionally
SHARE
BOOKMARK
PRINTRATING
A Nakuma
tt outlet in Kigali, Rwanda. The Kenyan retail chain is targeting entry into South Sudan and Burundi. NATION PHOTO|CYRIL NDEGEYA
By BDAfrica.com REPORTER
Posted Friday, January 2 2015 at 16:22
IN SUMMARY
Nakumatt Holdings plans to open 14 new branches in the next two years as part of a plan to become a billion dollar retail giant, a senior director says.
RELATED STORIES
The firm also plans to step up efforts to scale up its regional market share.
According to Regional Strategy and Operations Director Thiagarajan Ramamurthy, the retailer is embarking on a programme to grow gross revenues to over $1 billion (Sh90 billion) "in the medium term".
"We are looking for wholesome growth and will not be deterred by new entrants into the local market," Mr Ramamurthy said.
In the year ended February 2013, Nakumatt's total sales hit a record Sh56.5 billion, nearly twice the Sh29.5 billion posted just two years earlier. Much of this growth was aided by rapid geographical expansion.
Sales took a hit during the period ending February 2014, however, dipping to Sh52 billion.
READ: Westgate attack aftershocks cut Nakumatt sales by Sh4bn.
Currently, Nakumatt has a regional branch network of 52 outlets across Kenya, Uganda, Tanzania and Rwanda, and is leading a sector-wide expansion race.
Mr Ramamurthy confirmed that plans for 14 new branches are at an advanced stage.
He added that store refurbishment works being piloted at Nakumatt Village Hypermarket would be rolled out to other branches as part of a plan to improve the customer experience.
He was speaking as he presented a Ford Figo car to Mr Lawrence Gituku, a winner in the ongoing Nakumatt Christmas Bonanza customer reward programme.
READ: Nakumatt branded sales hit Sh2bn in first year.
tt outlet in Kigali, Rwanda. The Kenyan retail chain is targeting entry into South Sudan and Burundi. NATION PHOTO|CYRIL NDEGEYA
By BDAfrica.com REPORTER
Posted Friday, January 2 2015 at 16:22
IN SUMMARY
- The retailer is embarking on a programme to grow gross revenues to over $1 billion "in the medium term".
- In the year ended February 2013, Nakumatt's sales hit a record Sh56.5 billion, twice the turnover in 2011.
- Nakumatt has a regional branch network of 52 outlets across Kenya, Uganda, Tanzania and Rwanda.
Nakumatt Holdings plans to open 14 new branches in the next two years as part of a plan to become a billion dollar retail giant, a senior director says.
RELATED STORIES
The firm also plans to step up efforts to scale up its regional market share.
According to Regional Strategy and Operations Director Thiagarajan Ramamurthy, the retailer is embarking on a programme to grow gross revenues to over $1 billion (Sh90 billion) "in the medium term".
"We are looking for wholesome growth and will not be deterred by new entrants into the local market," Mr Ramamurthy said.
In the year ended February 2013, Nakumatt's total sales hit a record Sh56.5 billion, nearly twice the Sh29.5 billion posted just two years earlier. Much of this growth was aided by rapid geographical expansion.
Sales took a hit during the period ending February 2014, however, dipping to Sh52 billion.
READ: Westgate attack aftershocks cut Nakumatt sales by Sh4bn.
Currently, Nakumatt has a regional branch network of 52 outlets across Kenya, Uganda, Tanzania and Rwanda, and is leading a sector-wide expansion race.
Mr Ramamurthy confirmed that plans for 14 new branches are at an advanced stage.
He added that store refurbishment works being piloted at Nakumatt Village Hypermarket would be rolled out to other branches as part of a plan to improve the customer experience.
He was speaking as he presented a Ford Figo car to Mr Lawrence Gituku, a winner in the ongoing Nakumatt Christmas Bonanza customer reward programme.
READ: Nakumatt branded sales hit Sh2bn in first year.
