French retail giant Carrefour has announced a 71 per cent growth in sales from Sh8.11 billion recorded in 2017.
According to the exclusive owner of the Carrefour franchise in Kenya, Majid Al Futtaim, the retailer made sales of around Sh14 billion last year alone.
This is a clear indication that it’s expansion plan is paying off.
Carrefour currently has six stores stores at the Hub in Karen, Village Market, Two Rivers Mall, Thika Road Mall (TRM), Sarit Centre and Junction Mall.
The seventh store, the retailer announced last week will be opened before the end of this year at the space previously held by the struggling Nakumatt.
Mr Futtaim also announced that its local assets as of December 2018 stood at Sh4.3 billion, up from Sh3.1 billion in December 2017.
With nearly 12,000 stores in more than 30 countries worldwide, Carrefour continues to capitalize in the void left by Nakumatt and a cash-strapped Uchumi.
Also making an entry into the Kenyan market is South African retailer, Shoprite and Botswana’s Choppies.