Nakumatt in Sh1.2bn growth plan

Nakumatt is eyeing global brands in a Sh1.2 billion expansion strategy to meet demand from a growing middle-class while sharpening the retailer’s competitive edge.

In a statement released on Monday, Nakumatt said it had started implementing the plan to construct stores within its branches that would sell global brands in exclusive deals.

Some Sh480 million has already been poured into the construction of the first of such departmental stores, which will retail Clarks and Skechers footwear brands.

The company says it is in discussions with other international brands to build similar stores within Nakumatt outlets. This new strategy will be integrated into Nakumatt’s branch expansion programme.

“We are negotiating with several other global lifestyle brands, including Walt Disney Company, to allow us to present a refreshing and truly world-class retail product,” said Nakumatt Holdings managing director, Atul Shah.

The retailer already has a deal to retail brands from American cosmetic firm Revlon in the region. Nakumatt has also signed a deal with France’s L’Oréal to build mini departmental stores that will sell the Maybelline line of products.