The Kenyan chain has closed outlets in recent weeks on the back of stockouts and debts
CAPITAL Paris-based company Amethis Finance is seeking to raise for investment in 11 countries including Kenya.
French retailer Carrefour is tomorrow set to open its third Nairobi store at Thika Road Mall (TRM), two months after rival Nakumatt evacuated the space.
Carrefour, whose local franchise is held by Dubaibased conglomerate Majid Al Futtaim, will initially operate on the first floor before opening its doors on the mall’s ground floor mid next year.
The retailer’s move to set up in the populated residential area of Roysambu marks a shift in strategy since its operational stores — at Nairobi’s The Hub and Two Rivers malls — serve as destination shopping centres.
“We are pleased and honoured to be bringing our services closer to the residents of Roysambu and Kasarani, as well as the growing number of those travelling along the busy Thika Road,” Franck Moreau, the country manager at Al Futtaim Retail
The outlet covers over 5,000 square metres of selling area and will cater for a growing population...
of items that the mall will host together with specialist sections
(Kenya), said in a statement. “When fully operational later next year, the Thika Road Mall store will stock over 30,000 items and host some of our specialist sections such as fresh produce, groceries, fresh bakery, and butchery.”
Carrefour is one of the beneficiaries of Nakumatt’s decline, with the Kenyan retailer closing more branches in recent weeks on the back of stockouts and huge debts
including rent arrears.
The TRM outlet covers over 5,000 square metres of selling area and will ca- ter for a growing population segment residing in Roysambu and Kasarani as well as those travelling along the busy Thika Road. It will cover two floors of the mall whose construction was completed in 2013.
Al Futtaim currently works with over 640 suppliers, local manufacturers, producers and farmers. The new store is expected to employ 200 people, raising the company’s staff count to 800.
“This (opening) will completely transform the mall.
‘‘We expect higher footfall, leaving our tenants in a better position,” TRM chief operating officer Bashir Dalvi said in an interview.
NEW TENANT A section of Thika Road Mall.