Regional Retailer, Nakumatt Holdings, has opened the doors to its 58th branch in Kericho town at cost of Kshs 130 million.
The branch located at the new Kericho Green Square Mall, places Nakumatt, on schedule to open its 60th branch by end of February next year.
Speaking, following the opening of the branch, Nakumatt Holdings, Regional Operations and Strategy Director, Mr. Thiagarajan Ramamurthy, said the firm’s county expansion programme (now in 16 Counties), has in the last two weeks received a major boost. This, follows the opening, of new branches in Busia, Bungoma and Kericho Counties.
The new branch, covering a shop floor space of 30,000square feet, Ramamurthy, said, has been outfitted and stocked to global standards.
“At Nakumatt, we are sustaining our commitment to deepen retail penetration in Kenya and the East Africa region, by providing world-class retail outlets,” Ramamurthy said.
With the opening of the new Nakumatt Kericho, Nakumatt, is now all set to close its trading year (ending February 2015) on a 60branch strong position, up from the current 58 branch status. Plans, for the opening of new Nakumatt stores, before the end of February next year, in Emali, Kampala and Kigali, are already in high gear.
As part of a strategy to double its local and regional market share, Nakumatt, has been undertaking a number of customer experience enhancing projects.
Currently enjoying a 25% formal retail space market share, Nakumatt Holdings, is actively seeking to retain a bigger slice of the mid to premium segment. Through the strategy, the retailer has been working, to grow its gross revenue to over US$1billion in the medium term period while growing its network footprint across East Africa.
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