Naivas Supermarkets has taken up the space Nakumatt Holdings vacated at Hazina Towers, making it the biggest beneficiary of the troubles facing the retail sector.
The retailer will start the operations from Tuesday as the new anchor tenant in the space that is famously known as Lifestyle, a mall at the heart of Nairobi city on Monrovia Street.
Chief commercial officer Willy Kimani said the new branch speaks to the resilience of the retailer in defying a tough business environment due to Covid-19 disruptions to keep up with its growth and expansion strategy.
“The new store, a food market is the first of our stores of this format within the CBD (central business district).
“It will be stocked with a variety of quality products to choose, ranging from fresh produce, branded food, general household items, electronics among many others,” he said.
The new outlet will become Naivas’ 67th branch and its fourth outlet in the busy Nairobi CBD at a time its closest rival Tuskys has shut several stores due to cash flow challenges.
Other former Nakumatt outlets that have been taken up by Naivas include Prestige Plaza on Ngong road, Moi Avenue branch, Mega City mall in Kisumu as well as Likoni and Bamburi branches in Mombasa.
The chain also ventured into Mwembe Tayari Mall, which Nakumatt intended to occupy before its woes began.
Naivas also recently opened at Waterfront Mall in Karen, taking over the space that troubled South African retailer Shoprite occupied.
The retailer in August raised Sh6 billion from the sale of a 30 per cent stake to a consortium of investors, including the International Finance Corporation, firming up its financial strength.
Naivas entry at Hazina Towers deepens its outlets within the CBD where it also has a presence at Ronald Ngala, Development House and Moi Avenue. Naivas plans to open an additional two outlets — a food market in Rongai and a supermarket at Ananas Mall in Thika — before the year ends, a move that will bring its total branch count to 70.
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