Tuskys Bandari in Mombasa (photo/ the-star.co.ke)
Tuskys supermarket is planning to extend its number of branches to 100 by the year 2020.
Tusker Mattresses Group Chief Executive Dan Githua, Speaking at the first Tuskys CEO Gala Dinner held on Sunday night said that the retailer has revamped it's corporate strategy to accelerate growth.
The gala dinner was held at Tuskys Headquarters to celebrate the staff, suppliers and partners of the retail giant.
Githua said the firm currently has 64 branches across Kenya and Uganda and is currently adopting strategies towards a competitive advantage against multinational retailers venturing into the market.
Tuskys is banking on partnerships to achieve 100 stores within three years.
“These partnerships will include joint investments in automated solutions with suppliers to cut shrinkage rates from five per cent to less than one per cent given that loss control is a key problem dogging the retail sector today,” said Mr Githua.
An estimated cost of Sh3 billon is set to be used to roll out the three year operating strategy.
It's credit facility that is also currently at 3 billion is set to be expanded to sh. 4.5 billion with KCB and DTB banks underwriting upto 40% of suppliers.