Naivas Ltd., Kenya’s leading retail chain, has announced an ambitious plan to nearly double its store count, targeting 200 outlets. This aggressive expansion, driven by robust consumer demand and rapid urbanization, will see the retailer opening up to 10 new stores each year. With 111 current locations, the company’s CEO notes that many areas remain unserved or underserved, presenting a significant growth opportunity. This confidence is backed by a strong financial performance, including recent annual revenue growth of 15%. The retailer is also adapting to modern shopping trends, with its new app expected to push online sales beyond 10% of total revenue. As Naivas continues to cater to price-conscious shoppers and expand its late-night offerings, this growth solidifies its dominant position in Kenya’s vibrant and evolving retail landscape.
Bloomberg
