Carrefour (France) Records Sh18.7bn Sales in Kenya
26 Jun 2020 - French retail chain Carrefour recorded sales worth Sh18.7 billion from its Kenyan outlets last year, the company has disclosed in its annual financial report.
Majid Al Futtaim, the exclusive holder of Carrefour’s franchise in Kenya, announced the 28 percent jump in sales from Sh14.6 billion recorded in 2018 indicating that its aggressive expansion bid across major towns in Kenya was paying off.
The retailer said since launching in Kenya four years ago, the franchise of the French hypermarket chain had grown faster than expected, attracting a strong clientele base among the country’s expanding middle class.
The retailer announced plans to continue the expansion of its retail and entertainment business across key markets, including in Africa.
“In 2020, Majid Al Futtaim Retail will open its first store in Uzbekistan, with plans for further expansion to new markets in Central Asia and Africa and scale up its e-commerce capacity to meet growing online demand, through innovative fulfilment solutions,” the group said in the report.
The retailer has been expanding its presence in Kenya taking over spaces previously occupied by struggling supermarket chains, including Nakumatt and Uchumi, as well as opening new outlets to cash in on the underserved market.