Hong Kong-listed apparel brand Giordano has its first Kenyan outlet at Garden City Mall expanding its footprint in Africa. The retailer targets Kenya’s market with its casual wear and accessories.
“Giordano means service”
The move sees Giordano expanding its operations in the African continent – alongside its presence in over 40 other countries across Asia, Australia, Canada, Central America, Eastern Europe, Central Asia, and the Middle East.
The chain has over 2,400 stores worldwide in 40 countries including Zambia and South Africa that were opened in 2015 and 2018, respectively. In 2019, it opened 4 stores in Mauritius.
Giordano was founded in Hong Kong by Jimmy Lai in 1980. In 1981, it opened its first retail store in Hong Kong and also began to expand its market by distributingGiordano merchandise in Taiwan through a joint venture.
In 1985, it opened its first retail outlet in Singapore.
According to Cytonn Investments, “The increased interest by international retailers into the Nairobi Metropolitan Area (NMA) is supported by growing demand for international brands from the expanding middle class, the supply of high-quality retail spaces that meet international standards, and the expanding middle-income class population, with increasing disposable incomes creating demand for differentiated retail products.”
The increased entry of multinational retailers is a welcome move for developers who have been experiencing increasing vacancy rates due to the tough economic climate with occupancies declining by 4.0% to 75.9% in 2019 from 79.8% in 2018, according to the Cytonn Annual Markets Review – 2019.