Turkish fashion retailer to open third store in Kenya's coastal city
LC Waikiki joins a host of other global fashion brands seeking to cash in on the expanding middle class
The branch will be located at City Mall in Nyali making it the brand's third outlet a year after it entered the Kenyan market.
The international fashion chain begun recruiting staff for the branch in August last year when the firm announced the search for a store manager to be based in Mombasa.
LC Waikiki opened its first sub-Saharan Africa store at the Two Rivers Mall in February last year and the second in October at the Hub Mall in Karen. The retailer targeted Nairobi as its launching pad with plans to have 1,500 stores in Africa by the end of 2023.
While launching the first branch last year, LC Waikiki said it settled on Kenya as an entry point to Sub-Saharan Africa owing to its stable economy, low market saturation, a fast-growing retail oriented middle class and rapid urbanisation.
Started in Turkey, where it now has around over 486 stores, the brand has expanded to over 35 other countries globally.
The firm is one of the fastest-growing retailers in Europe with a turnover of $3 billion.
It joins a list of other international fashion brands seeking to cash in on the expanding middle class and growing taste for luxury brands.
The Foschini Group of South Africa, UK’s F&F and jewellery firms including Austria-based Swarovski have also opened shop in Nairobi.
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