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Nakumatt: Another ailing Kenyan company
Gathige
#681 Posted : Tuesday, September 18, 2018 12:59:10 PM
Rank: Veteran


Joined: 3/29/2011
Posts: 2,074
hardwood wrote:
Ericsson wrote:
hardwood wrote:
Why is it taking forever for malls to have other supermarkets take up space that was occupied by nakumatt? Malls should just swallow their pride and invite local supermarkets such as naivas, tuskys etc to take up the space instead of the malls waiting forever for foreign supermarkets to come and set shop.


Local supermakets like Naivas and Tuskys can't afford the rent.


So for how long will they wait for shoprite & co to come from south africa and set up shop......1yr, 2,3,5? It's like having your apartment empty for months on end as you plead with a certain "high end tenant" to rent it .....while the monthly mortgage payments are killing you.



@hardwood, its all about the business model and the ecosystem around it. A high end mall will be built around an ecosystem around luxury all around from the supermarket, the gold stores around, branded clothing lines etc. It becomes hard for them when Nakumat exits and they ave to bring in a local butcher next to LC Java etc. Its the model thing
"Things that matter most must never be at the mercy of things that matter least." Goethe
KulaRaha
#682 Posted : Tuesday, September 18, 2018 1:25:32 PM
Rank: Elder


Joined: 7/26/2007
Posts: 6,441
hardwood wrote:
Why is it taking forever for malls to have other supermarkets take up space that was occupied by nakumatt? Malls should just swallow their pride and invite local supermarkets such as naivas, tuskys etc to take up the space instead of the malls waiting forever for foreign supermarkets to come and set shop.


Because Naivas and Tuskys have learnt from Nakumatt that reach is not equal to profitability.

Some Malls will never get replacement supermarkets.
Business opportunities are like buses,there's always another one coming
hardwood
#683 Posted : Tuesday, September 18, 2018 3:03:24 PM
Rank: Elder


Joined: 7/28/2015
Posts: 9,328
Location: Rodi Kopany, Homa Bay
Gathige wrote:
hardwood wrote:
Ericsson wrote:
hardwood wrote:
Why is it taking forever for malls to have other supermarkets take up space that was occupied by nakumatt? Malls should just swallow their pride and invite local supermarkets such as naivas, tuskys etc to take up the space instead of the malls waiting forever for foreign supermarkets to come and set shop.


Local supermakets like Naivas and Tuskys can't afford the rent.


So for how long will they wait for shoprite & co to come from south africa and set up shop......1yr, 2,3,5? It's like having your apartment empty for months on end as you plead with a certain "high end tenant" to rent it .....while the monthly mortgage payments are killing you.



@hardwood, its all about the business model and the ecosystem around it. A high end mall will be built around an ecosystem around luxury all around from the supermarket, the gold stores around, branded clothing lines etc. It becomes hard for them when Nakumat exits and they ave to bring in a local butcher next to LC Java etc. Its the model thing


Some of these "luxury supermarkets" everyone is awaiting are just normal supermarkets in their home countries. Their regular naivas or tuskys down the road. But when they come to kenya they are seen as high end and are the only ones who can set up in high end malls. Anyway kenyans love foreign things.






hardwood
#684 Posted : Tuesday, September 18, 2018 5:23:03 PM
Rank: Elder


Joined: 7/28/2015
Posts: 9,328
Location: Rodi Kopany, Homa Bay
Reminds me of the hype about Game Stores/Walmart's entry into Kenya. The entry was underwhelming just like Carrefour's newer stores are disappointing. I think we should try and build local businesses like had happened to nakumatt before the collapse.
hardwood
#685 Posted : Thursday, December 20, 2018 10:11:47 PM
Rank: Elder


Joined: 7/28/2015
Posts: 9,328
Location: Rodi Kopany, Homa Bay
Carrefour and LC Waikiki open megastores at TRM. Shoprite opening at Garden city.
murchr
#686 Posted : Friday, December 21, 2018 4:38:57 AM
Rank: Elder


Joined: 2/26/2012
Posts: 14,800
Nakumatt reopens Mega. Good news there's no match to Nakumatt
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
tom_boy
#687 Posted : Friday, December 21, 2018 5:02:20 AM
Rank: Member


Joined: 2/20/2007
Posts: 707
murchr wrote:
Nakumatt reopens Mega. Good news there's no match to Nakumatt


Bond holders are

Pray Pray
They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
Conquestador
#688 Posted : Friday, December 21, 2018 8:50:11 PM
Rank: New-farer


Joined: 8/17/2010
Posts: 93
Location: Nairobi
Game at that unfinished place on Karen road will close down in less than 1 year.
hardwood
#689 Posted : Saturday, September 07, 2019 12:40:36 PM
Rank: Elder


Joined: 7/28/2015
Posts: 9,328
Location: Rodi Kopany, Homa Bay
Angelica _ann
#690 Posted : Saturday, September 07, 2019 2:19:55 PM
Rank: Elder


Joined: 12/7/2012
Posts: 10,791
[quote=hardwood]Choppies to exit Kenya

https://www.businessdail...2544-n0ldpiz/index.html[/quote]

From the article, looks likes a mismanaged company.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
newfarer
#691 Posted : Sunday, September 08, 2019 2:30:02 AM
Rank: Elder


Joined: 3/19/2010
Posts: 3,272
Location: Uganda
retail business is a hard nut to crack
punda amecheka
Ericsson
#692 Posted : Sunday, September 08, 2019 5:29:16 PM
Rank: Elder


Joined: 12/4/2009
Posts: 7,227
Location: NAIROBI
newfarer wrote:
retail business is a hard nut to crack

Big 3
Naivas
Tuskys
Carrefour
KulaRaha
#693 Posted : Monday, September 09, 2019 10:10:46 AM
Rank: Elder


Joined: 7/26/2007
Posts: 6,441
newfarer wrote:
retail business is a hard nut to crack


Choppies issues were mismanagement and internal board wrangles.
Business opportunities are like buses,there's always another one coming
maka
#694 Posted : Tuesday, September 10, 2019 12:30:21 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,168
Location: Nairobi
Conquestador wrote:
Game at that unfinished place on Karen road will close down in less than 1 year.


Waterfront...
possunt quia posse videntur
Angelica _ann
#695 Posted : Tuesday, September 10, 2019 6:40:38 AM
Rank: Elder


Joined: 12/7/2012
Posts: 10,791
Some are doing very well.

Carrefour pays off Sh1.5bn loan before maturity.


https://www.businessdail...65138-btsi46z/index.html
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
hardwood
#696 Posted : Tuesday, September 10, 2019 10:04:30 AM
Rank: Elder


Joined: 7/28/2015
Posts: 9,328
Location: Rodi Kopany, Homa Bay
newfarer wrote:
retail business is a hard nut to crack


Why is it hard? You lease a big room and put shelves, the suppliers stock the shelves, you sell the goods and pay them suppliers after 4 months.
nairobby
#697 Posted : Tuesday, September 10, 2019 10:13:41 AM
Rank: Member


Joined: 1/18/2019
Posts: 139
Location: kenya
hardwood wrote:
newfarer wrote:
retail business is a hard nut to crack


Why is it hard? You lease a big room and put shelves, the suppliers stock the shelves, you sell the goods and pay them suppliers after 4 months.


Margins are tiny
KulaRaha
#698 Posted : Tuesday, September 10, 2019 12:37:54 PM
Rank: Elder


Joined: 7/26/2007
Posts: 6,441
nairobby wrote:
hardwood wrote:
newfarer wrote:
retail business is a hard nut to crack


Why is it hard? You lease a big room and put shelves, the suppliers stock the shelves, you sell the goods and pay them suppliers after 4 months.


Margins are tiny


pilferage can eat your whole net margin...
Business opportunities are like buses,there's always another one coming
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