Nextgen Mall welcomes Carrefour

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French retailer Carrefour is the newest entrant into Nairobi’s Nextgen Mall as it inhabits the space that was evacuated by Souk Bazar supermarket in November 2020.

Carrefour, whose local franchise is clutched by Dubai-based conglomerate Majid Al Futtaim began its operations at Nextgen mall on Monday, hereby increasing the competition between retailers who operate in the same region.

Carrefour has been on an aggressive expansion plan in Kenya as the new outlet on Mombasa Road will be its ninth in Nairobi and tenth nationwide.

“It’s finally here! The new Carrefour is now open at the Nextgen Mall. Bring your friends and family for the same quality products and unbeatable prices,” said the retailer on its social media page yesterday.

The new outlet opens barely a month after its debut at City Mall, Nyali, a first of its own outside Nairobi.

The new Carrefour branch which occupies 1800 square feet is setting up at season where its competitors such as Shoprite plans to exit the Kenyan market due to a loss of more than sh 3 billion in 2020.

Botswana based-Choppies supermarket had been struggling to grow its market share in Kenya due to increased competition in the retail market and eventually exited. The merger between Quick Mart and Tumaini created an increased competitive environment for the retail market.

Carrefour has not only opened a branch in Nyali but has also occupied the vacant spaces left by Uchumi, Shoprite and Nakumatt at lucrative spots such as Thika Road Mall, Junction, Galleria, Village Market and Sarit Centre.

IN June 2020, Carrefour occupied the space Mega on Uhuru Highway in Nairobi that was previously taken up by Nakumatt.

After the collapse of Nakumatt and Tuskys as a result of their debt-fuelled expansion strategy, Carrefour and Naivas now enjoy having the biggest market share as the leading supermarket operators.

 

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Anthony Kiratu is the Founder of Finsolutions. He is a financial analyst with over 5 years experience in research, investment advisory, valuation and financial modelling. Anthony is a member of the Institute of Certified Investment and Financial Analysts and Institute of Certified Public Accountants of Kenya. He is passionate about development of African Capital Markets through training of investors and dissemination of information for sound financial and investment decision making process. He is also a part-time lecturer in the Certified Investment and Financial Analyst course in the subjects of International Finance, Portfolio Management, Equity Investment Analysis, and Fixed Income Securities. Email: anthony@finsolutions.co.ke Contact: +254 780216631

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