Before the year closes, what was famously referred to as Nakumatt Lifestyle will be Naivas Lifestyle as the latter is finalising renovations of the space.
This swap is a glimpse of the trend in the retail sector in Kenya. The tumultuous segment has seen established retailers collapse while others have swooped in and taken over.
International retailers have also joined the local players. Similarly, some have thrived while others have collapsed or made a hasty retreat from the dynamic segment.
The Lifestyle store changeover comes only a few weeks after Naivas opened shop at the Waterfront Mall, taking over space previously occupied by South African retailer Shoprite.
Shoprite, which is exiting the market following tough times for the retailer as a result of Covid-19 restrictions, came into the market at the close of 2018 taking up space at the Westgate Mall, Garden City, City Mall and Waterfront Mall. The first three malls previously had Nakumatt stores until the collapse of the retailer.
From Shoprite to Naivas, Nakumatt to Carrefour, Nakumatt to Tuskys, Uchumi to Carrefour, the musical chairs that makeup store selection have become synonymous with the retail sector in Kenya.
A section of the Naivas Capital Centre outlet. PHOTO | SALATON NJAU | NMG
As soon as one retailer exits, they are replaced by a new retailer tapping into the existing space and gap in demand. In October, Naivas and Carrefour swooped in to replace Shoprite in two of the recently vacated spaces at the Waterfront Mall in Karen and the City Mall in Nyali respectively.
“At Majid Al Futtaim we have set up a specific internal development team whose main task includes identifying, analysing and assessment and then approaching landlords of the different locations that may be suitable for a Carrefour store.
“In some cases, we also have instances where potential landlords approach us,” said Franck Moreau, country manager of Carrefour Kenya at Majid Al Futtaim Retail.
Majid Al Futtaim’s Carrefour replaced Nakumatt in major malls including TRM, Junction, Galleria, Mega as well Uchumi at Sarit Centre. Carrefour Kenya has emerged as one of the major players in the local retail market, having launched operations in 2016 at The Hub in Karen, Nairobi.“Locations are selected based on the convenience and attraction to our customers, as well as the expected footfall to maximise those we can serve,” said Mr Moreau.To finance the expansion of its supermarket business, the Dubai-based conglomerate received a Sh3 billion loan from South Africa’s […]
