The Hub Karen has announced the signing of Japanese lifestyle retail brand MINISO aimed at enhancing the shopping mall’s customer value.
The signing up is part of the Japanese retailer’s expansion strategy in Africa.
Speaking when he confirmed the signing and scheduled opening latest by August 2018 of a MINISO lifestyle store at The HUB Karen, Philippe Cauviere, the Chief Executive Officer of Azalea Holdings, the developers of The Hub Karen, said such high profile international retailer will further enhance the variety of lifestyle stores at the shopping and recreation complex.
Alongside it’s The Hub Karen operations, MINISO Lifestyle Kenya Business Development Manager, Dean Zhu confirmed the firms plan to expand its local presence with a mix of directly owned and franchised outlets countrywide.
“We are truly excited that MINISO has chosen The Hub Karen as one of their African flagship locations,” Cauviere said. He added that, “The scheduled opening of a MINISO lifestyle store in August will undoubtedly enhance The Hub Karen’s appeal as Sub-Sahara’s premier shopping and recreation complex and offer shoppers a wide range of unique and affordable lifestyle products.”
In Africa, MINISO’s footprint covers Nigeria, Egypt, Uganda, Tanzania, South Africa, Morocco and Madagascar with over 2,600 stores across the world.
“As part of our expansion strategies at MINISO, we are planning to develop more than 100 stores in Kenya directly and on a franchise model.” Dean said.
MINISO stocks a wide variety of retail products inspired by fashion lifestyle in every aspect of life.
Last year (2017), MINISO’s global turnover stood at $1.2 billion while sales from external markets came in at $737 million.
French Sports Retailer, Decathlon is also set to open its first store in sub-Sahara Africa at The Hub Karen this September. The entry of Decathlon in the local market will serve to further enhance Foreign Direct Investment (FDI) flows in the local formal retail market by French companies.