Entrance to Carrefour Supermarket at The Hub Shopping Mall Nairobi. [Photo/businessdaily.co.ke]
The French retailer Carrefour is deemed to grow rapidly in the future as it makes 54.8million UAE Dirham’s (Sh. 1.5billion) just seven months after it launched its Karen store in the country.
The store whose exclusive franchise rights are held by a UAE investor Majid Al Futaim which joined the Kenyan market with intention to provide premium services at high end places has capitalized on the dwindling fortunes of Nakumatt.
The world’s second largest retailer store has since set up shop at The Hub Karen Mall, Junction Mall, Thika Road Mall and the Two Rivers Mall and still plans to open more stores at various points in the next few years according to Carrefour’s Country Manager Frank Moreau.
“Majid Al Futtaim is still seeking opportunities to open stores in strategic locations within Kenya and the rest of the greater East African region in the coming years,” Moreau said as quoted by The Business Daily.
“This is in line with the company’s plans to cater for the growing population yearning for a wide range of products sold at the best prices in the best possible environment,” he added.
Kenya’s retail market is deemed to be the Africa’s fastest growing but currently the second best after South Africa.