Corporate News
By ANNIE NJANJA
International fashion brands are set to open more
stores in Nairobi this year as they seek to cash in on the expanding
middle class and growing taste for luxury brands.
Turkish clothing line LC Waikiki, The Foschini Group (TFG)
of South Africa, UK’s F&F and jewellery firms that include
Austria-based Swarovski and India’s Anmol are set to open new stores
next year.
LC Waikiki will open the first store in Sub-Saharan
Africa in the first quarter of the year with plans to open another
outlet in Karen later in the year.
The clothing line, which has over 600 stores spread
across 33 countries, will mark its debut at Two Rivers Mall where the
firm has already injected more than Sh100 million ($1 million)
investment.
“This is our first store in Sub-Saharan Africa and
the biggest in the continent. We chose Kenya as our entry point in
Sub-Saharan Africa because it is a fast developing economy whose future
growth looks promising. The country is also open to international
retailers and brands making it a fertile ground for this type of
business,” said Kremena Penchewa, area manager, LC Waikiki.
TFG is planning to open three stores at the Village
Market and an additional 10 in various locations as the year unfolds.
The new stores at the newly constructed extension of the Village Market
will see the group introduce Foschini women’s wear shop, Markham brand
targeting men and a second Sterns Jewellery store.
The group, which has 22 different retail brands
under its label, opened its first store in Kenya. Sterns store, located
at the Junction Mall, is a contemporary and classic jewellery shop.
“The plan is to open three more stores (Foschini,
Markham and Sterns) in Village Market, Nairobi, during the first quarter
of 2017,” said TFG in a statement.
“TFG sees Kenya as a good investment destination
because the retail environment, growing middle class and infrastructure
in Kenya is relatively well developed compared to other East and West
African countries.”
The fashion subsidiary of UK’s largest grocery and
general merchandise store Tesco, F&F, will open a second store at
Sarit centre mid-January and is scouting for new viable locations in
major towns across the country.
Deacons, which is the local franchise holder of the
UK brand, says it plans to open five stores over five years, with the
possibility of exploring other countries in the region. Tesco’s flagship
clothing brand is available in more than 2,000 locations and 26
countries across the world.
“Our research indicated that Kenya is an ideal
market for F&F’s expansion into Africa; Kenyans have an
international outlook regarding fashion and entertainment, always in
tune with what is happening in New York, London and Milan, as much as
Nairobi, Lagos and Johannesburg,” Managing Director of F&F Global
Partnerships, Marcus Chipchase.
“Kenyans appreciate quality and are receptive to
new brands – just look at the international brands coming into the
market; Kenya is growing and we are here, together with Deacons, to grow
with the country.”
Swarovski brand is also set to open the first store
in Kenya at Two Rivers. The brand is known for its crystal glass
products and accessories that are widely used by celebrities and fashion
designers.
The brand has a presence in more than 170 countries including South Africa and has over 2,500 stores worldwide.
“This will be the first Swarovski outlet in East Africa
dealing exclusively on latest fashion Jewellery and accessories,” said
Swarovski Kenya manager, Vishal Shah.
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