SkyscraperCity banner

81 - 100 of 101 Posts

·
Super Moderator
Joined
·
10,507 Posts
The Kenyan franchise is owned by Emirati billionaire Majid Al Futtaim .He's the franchise holder for Carrefour in the Middle East, North Africa as well as Kenya.

He's also about to open some stores in Southern Africa.

But I agree with you guys, all their new stores are underwhelming, not inviting at all compared to what local retailers like Naivas now offer.

All the Carrefour stores I went to looked bland and run of the mill as was Shoprite and Game.
 

·
Super Moderator
Joined
·
10,507 Posts
^^ The only African retailer that'd give the new Naivas a run for their money if they opened in Kenya would be SA's Woolworths, I've been to some of their grocery stores and they look pretty decent.
 

·
Registered
Joined
·
1,738 Posts
Its all Carrefours. Underwhelming indeed. Wonder if they just felt they should not invest too much in the Kenyan market since in their minds we are a poor market with no sophistication.

Oh well...its their loss.
I can't think of one country in SSA aside the one usual Xhosaland that beats Kenya's economy in sophistication and diversification. Carefours must have come to Kenya with a preconceived mindset gleaned from French stranglehold on west Africa.
 

·
Registered
Joined
·
527 Posts
A Nakumatt IPO ten years ago would have raised so much cash these new-comers would have stood no chance.

I wonder what actually happened with good old Nakumatt. Their story so far, just doesn't make sense.
 

·
Registered
Joined
·
293 Posts
A Nakumatt IPO ten years ago would have raised so much cash these new-comers would have stood no chance.

I wonder what actually happened with good old Nakumatt. Their story so far, just doesn't make sense.

I doubt they would have been allowed to go public. Their books must have been very messy.
 

·
Registered
Joined
·
10,778 Posts
Nice! looks like competition is forcing all of the to really step up their game.
I have a feeling this concept is going to spread countrywide. Counties will have to invest more in their fresh produce markets to bring them upto par with these new stores especially in the large urban areas or their fate will mirror that of the neighborhood kiosks/small shops after the supermarket/mall craze hit.
 

·
Registered
Joined
·
10,778 Posts
Quickmart


Clip on what is arguably one of the fastest growing chains in Kenya at the moment. Their niche is moving the hypermarket concept away from the traditional large malls to stand alone neighborhood outlets.


 

·
Registered
Joined
·
10,778 Posts
Find Caroline Mutoko on facebook, she's highlighting new grocery stores in Kenya, and i am just impressed. Just when you think Kenya is a shithole piece of corruption den, some entrepreneurs are really going out of their way by pushing the boundary.

I have lived abroad for a while, and i normally try to do only WholeFoods, or Sprouts for groceries, but what some folks in Kenya are doing its just amazing..
I guess the clips above are the ones you mentioned.
 

·
Registered
Joined
·
590 Posts
Naivas confirms stake sale to French PE firm as it eyes growth

It's good to see that the Nakumatt ERA read as "Error" did not spoil it for the rest of the box stores ... Naivas, Tuskys etc - it probably even helped them more, by creating more space in the industry.

Having a French PE invest in Naivas shows they can see the potential in the KE retail sector majorly (probably also from data from CARREFOUR (a french company)). This investment will definately make NAIVAS the undisputed largest Supermarket chain! IT probably has been for a while now, though.

Local retailer Naivas Supermarket has confirmed it is selling a minority stake to a France-based private equity (PE) fund, Amethis Finance, in a deal that is set to further professionalise the operations of the family-owned business and expand its network.

Naivas Monday announced the signing of the agreement with Amethis Fund II, the PE fund’s investment vehicle, while stating that the parties were awaiting necessary regulatory approval to proceed with the transaction.

“We are very excited about this partnership. As we embark on our next phase of growth, having an experienced investor with us will further strengthen the business,” Naivas’ managing director David Kimani said in a statement.

“Amethis has a strong track record investing across Africa including Kenya, which will add value to our operations.”

Naivas, which has 60 branches across the country said it will use Amethis experience and expertise to further expand its reach.

The parties declined to disclose the value and other terms of the deal. Sources, however, say Amethis is set to acquire a 30 percent stake in the retailer.

Historical data shows that the fund typically invests between Sh1.1 billion and Sh4.4 billion (10 million to 40 million euros) or more in target firms through co-investments.

“In a Kenyan retail landscape where many competitors from abroad are settling in, we are proud to support a very successful Kenyan business that has a strong understanding of the Kenyan consumer,” Jean-Sebastien Bergasse, a partner at Amethis, said in the statement.

“We look forward to working jointly with the shareholders and management team to further expand the business’ operations and store network, while retaining a strong Kenyan identity.”
The parties declined to disclose the value and other terms of the deal. Sources, however, say Amethis is set to acquire a 30 percent stake in the retailer.

Historical data shows that the fund typically invests between Sh1.1 billion and Sh4.4 billion (10 million to 40 million euros) or more in target firms through co-investments.

“In a Kenyan retail landscape where many competitors from abroad are settling in, we are proud to support a very successful Kenyan business that has a strong understanding of the Kenyan consumer,” Jean-Sebastien Bergasse, a partner at Amethis, said in the statement.

“We look forward to working jointly with the shareholders and management team to further expand the business’ operations and store network, while retaining a strong Kenyan identity.”

SOURCE
 
81 - 100 of 101 Posts
Top