Naivas International, Kenya’s leading retailer, founded by the late Kenyan businessman Peter Mukuha Kago, has achieved a significant milestone by inaugurating its 100th branch.
The leading retailer, which is majority-owned by the Kenyan Mukuha family, has also announced plans to add two more units by the end of the year, continuing its quest for an increased market share.
In an official statement, Naivas expressed its commitment to extending its footprint beyond the capital city, Nairobi. The company’s expansion plans for 2023 include opening two new branches, one located in Kakamega and the other along Mwanzi Road, right in the heart of Nairobi.
This latest development follows Naivas’s earlier move this year, where it launched two additional branches in Kenya. These upcoming stores are scheduled to be operational within a month, pushing Naivas closer to its target of 100 stores, effectively solidifying its position as the country’s leading retail player.
The 100th Naivas branch, strategically situated on King’ara Road in Lavington, Nairobi, will be swiftly followed by the 101st branch on Mwanzi Road within the capital city. The 102nd unit will be established in Kakamega town, as Naivas strives to strengthen its position as the top local supermarket chain.
Since it was founded in 1990 by the late Kenyan tycoon Peter Mukuha Kago, Naivas has dominated the Kenyan retail landscape with an extensive network of outlets nationwide.
In recent times, Naivas has showcased remarkable financial resilience. In the first nine months of its 2023 fiscal year ending March 31, 2023, the retailer reported a profit of Ksh2.1 billion ($15.25 million), marking a substantial increase from the previous fiscal year.
The retailer’s success in recent times can be attributed to its robust business model, featuring a network of 100 outlets across 20 cities and towns in Kenya, as well as its modern grocery retail offerings in prominent urban centers nationwide.
The strategic expansion and acquisition plans indicate a bright future for Naivas as it seeks to further fortify its market position and growth prospects.
