LC Waikiki, a Turkey-based international clothing retailer, has reaffirmed its plans to continue its expansion in Kenya.
The leading fashion brand is set to open its fourth store at the country’s Thika Road Mall (TRM) in Nairobi with plans to branch out to other parts of Sub-Saharan Africa.
The expansion is part of an ongoing strategy to cash in on the area’s middle-class shoppers.
In June of this year, LC Waikiki’s said Country Manager, Kremena Pencheva announced that the firm plans to venture into South Africa. At the time, Pencheva confirmed that Kenya was to serve as the firm’s entry point into the Sub-Saharan market.
The retailer opened its first store in Sub-Saharan Africa at Nairobi’s Two Rivers Mall on February 16th, 2017, marking its debut in the African market.
Pencheva said at the time that LC Waikiki had invested $1.5 million in opening the 2,000 square -meter facility.
“Kenya is very important to us, with a stable economy and we see this store opening as a gateway to growing our footprint in the country and the larger African market,” she explained.
LC Waikiki plans to have a total of 1,500 stores all over the world by the end of 2023 from its current 750-plus stores.
The retail chain specializes in quality clothing and accessories for men, women and children.
LC Waikiki, which is one of the fastest-growing fashion retailers in Europe with a turnover of $3 billion, has operations in 35 countries, having opened its first store outside Turkey in 2009 in Romania. The brand has since expanded rapidly across the globe.
In fact, the retailer currently has stores located in Albania, Azerbaijan, the UAE, Belarus, Bosnia Herzegovina, Bulgaria, Armenia, Morocco, Georgia, Iraq, Iran, Kenya, Kazakhstan, Kyrgyzstan, Kosovo, Macedonia, Egypt, Moldova, Poland, Romania, Saudi Arabia, Tajikistan, Russia, Oman, Ukraine, Lebanon, Qatar, Serbia, China, Bahrein, Tunisia, Jordan, Algeria, Turkey and Kenya.