After two years of operation, Carrefour franchise registers a success in the country as revenue hits 8bn in only two years. This is owed to the expansion of the supermarket, which now operates four branches in The Hub, the Junction Mall, Two Rivers Mall, and Thika Road Mall.
The company made its announcement on the fiscal sales in the country through a press release that quantified the local assets at Kshs 3.1 billion as of last year December.
According to the CEO, Alexandre Bompard, the French conglomerate has set its eyes on a 2022 plan with the implementation currently underway in all the regions. “Carrefour is aggressive and is determined in its investment for better growth,” he commented.
Carrefour’s earlier revelation had shown that its Karen chain, The Hub, recorded a revenue of Sh 1.54 billion in only 7 months. The disclosure aligns itself with the current Sh8.2 billion from all the branches.
The high sales recorded by the company portrays the success of its supermarket chains in the country. At this rate, the Carrefour business is bound to be a multi-billion-shilling enterprise. Not with the supermarket beginning to be the people’s favorite after Kenya’s leading supermarket is fumbling.
Although Carrefour is fighting to be the leader with stiff competition from Tuskys and Naivas, it is in no way giving in. Last week, it announced that in April it will open its fifth store in Sarit Centre, Nairobi. The competition is bound to be stiffer as Tuskys and Naivas are rapidly expanding not to mention the plans for South Africa’s Game and Shoprite to grow locally.
Nevertheless, Carrefour looks to expand beyond Kenya to other countries in East Africa. This is according to Alin Bejjani, the CEO of Majid Al Futtaim, which is the exclusive the Carrefour’s franchise. Majid Al Futtaim also runs Magic Planet in Two Rivers. Despite this indoor entertainment unit making a small impact on the country’s revenue, it still solidifies Carrefour’s expansion in Kenya.