Kenya’s largest retailer by branches, Naivas, plans to hit the 100 mark, a solid commitment to growth and market presence.
The growth will be anchored on its food market model, Naivas Chief Commercial Officer, Willy Kimani, said during the launch of its 95th outlet in Karen.
“As we celebrate the opening of the 95th branch, we are also officially kicking off the countdown to the 100th branch in what we are calling the RoadTo100. We are delighted that as a homegrown Kenyan brand, we have reached heights previously unprecedented in the retail industry and are about to make history,” said Kimani.
The Naivas outlet at One Stop Karen sits at the intersection of Lang’ata and Lang’ata South Roads, and covers 10,000 square feet of trading space.
🎉It's official now! Naivas Foodmarket #OneStopYourLastStop has officially been launched hapa One Stop Arcade (at the intersection of Langata & Langata Sth Rd). Come 🎊celebrate with us & enjoy EXCLUSIVE offers as we begin our #roadto100.
— #NaivasKikapuKibonge (@naivas_kenya) June 16, 2023
Naivas supermarket has been bullish since Proparco, a French sovereign wealth fund acquired a KSh3.8 billion stake in September 2022.
Cytonn Investments 2022 Kenya retail report, “Kilimani, Westlands, and, Karen were the best-performing nodes with average rental yields of 9.7%, 9.0% and 8.9%, respectively, compared to the overall market average of 7.8%. “
According to Cytonn, the presence of quality retail spaces fetching prime rents and yields is driving the performance.
Additionally, prime locations containing affluent residents with high consumer purchasing power and adequate infrastructure support the performance.
Knight Frank Kenya says supermarkets have emerged as a star performers in the market. “Increased sales and store expansion activity from both domestic and international players means supermarkets will remain a robust asset class over the short to medium term.”
Other supermarkets expanding their footprints include Quickmart, Chandarana, Carrefour and Khetia.