Corporate News
A Nakumatt outlet in Kigali, Rwanda. The Kenyan retail chain is
targeting entry into South Sudan and Burundi. NATION PHOTO|CYRIL
NDEGEYA
By BDAfrica.com REPORTER
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.
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.
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.
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