Majid Al Futtaim has expanded its retail business outside Nairobi with three new Carrefour stores in Mombasa County.
The first two stores located in Nyali and Diani will open in November 2020, the third in Shanzu Mall will be opened upon completion of the mall in 2023.
“The opening of the three stores in Mombasa underscores our ambitious growth and expansion plans in Kenya,” said Franck Moreau, Country Manager of Carrefour Kenya at Majid Al Futtaim Retail.
This will bring Carrefour’s local brand network to 11, eight of the stores being in Nairobi.
The retailer has indicated that they have long term plans for Kenya but has not disclosed the specifics of the same.
The chain opened an outlet at the Mega space along Uhuru Highway, a space previously occupied by Nakumatt.
City Mall which lost Shoprite last month and Nakumatt before will now host the new Carrefour Nyali branch.
The French retail chain recorded sales worth Sh18.7 billion from its Kenyan outlets last year. This was a 28 percent jump in sales from Sh14.6 billion recorded in 2018, indicating that its aggressive expansion bid across major towns in Kenya was paying off.
Majid Al Futtaim made public its Kenya annual sales in its 2019 report that also puts its local assets as of December 2019 at Sh7.2 billion, up from Sh4.3 billion in December 2018.
The retailer has been expanding its presence in Kenya taking over spaces previously occupied by supermarket chains that have ceased operations, including Shoprite, Nakumatt and Uchumi, as well as opening new outlets to cash in on the underserved market.
New investment in retailers such as Naivas and Quickmart has seen the supermarket sections grow with new branches being set up across the country to meet the growing demand and shifting population.The wrangles and debt plaguing Tuskys have also left room for other retailers to fill the void, as the second largest retailer risks collapse if substantial capital injection is not made soon.