Naivas Supermarket opened its 67th store at Hazina Towers on Tuesday effectively taking over the location where Nakumatt Lifestyle once occupied on Monrovia Street.
The new branch is Naivas supermarket’s fourth branch in the Nairobi CBD as it eyest to open its 70th branch in the country by end year.
Other Naivas outlets in the CBD are located on Moi Avenue, Ronald Ngala street and Development House as the retailer seeks to take over dominance from ailing Tuskys.
Naivas, a family-run business, started selling alcohol and has also adopted the concept of food markets as it seeks a foothold in the retail business to compete with Carrefour and Quickmart.
According to Naivas chief commercial officer Willy Kimani, the chain’s new branch is targeting resilience in its expansion strategy amid a tough business environment occasioned by Covid-19.
“The new store, a food market, is the first of our stores of this format within the CBD. It will be stocked with a variety of quality products to choose, ranging from fresh produce, branded food, general household items, electronics among many others,” said Kimani.
Mr Kimani said Naivas will continue focusing on local expansion first before considering other countries in the region in its growth plan amid concerns by observers over its fast expansion.
Observers are concerned that Naivas’ opening of new branches at a fast pace could land it into the financial turmoil facing Tuskys supermarkets and Nakumatt supermarkets before it.
The retailer intends to open two more branches, which include a food market in Ongata Rongai and a supermarket at Ananas Mall in Thika by the end of the year to increase its outlets to 70.