Nakumatt Holdings, a Regional Retailer, has opened the doors to its 58th branch in Kericho town this week. The Kshs 130million, branch located at the new Kericho Green Square Mall, opening ceremony took place on Monday 14th December. This step places the retailer, on schedule to open its 60thbranch by end of February next year.
Speaking at the ceremony, Nakumatt Holdings, Regional Operations and Strategy Director, Mr. Thiagarajan Ramamurthy, said the firm’s county expansion program which is now in 16 Counties, has in the last two weeks received a major boost. “We are sustaining our commitment to deepen retail penetration in Kenya and the East Africa region, by providing world-class retail outlets,” Ramamurthy said.
The 58th branch follows the opening, of new branches in Busia, Bungoma and Kericho Counties. This new outlet covers a shop floor space of 30,000square feet. Ramamurthy said, the branch has been outfitted and stocked to global standards.
“This expansion is a culmination of fruitful partnership programs between Nakumatt Holdings and a number of local property developers,” Ramamurthy added. He affirmed that through the partnership, they have signed agreements with property developers committing to take up space in upcoming retail developments countrywide and in the region.
Plans, for the opening of new 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.