LC Waikiki Kenya Opens Seventh Store at Nairobi Mega

Turkey’s fashion brand, LC Waikiki, has taken up space at the Nairobi Mega along Uhuru Highway.

This becomes the fashion retailers’ 7th store in Kenya, says Sevda Bilen Ilhan, LC Waikiki’s International Area Manager.

In June, it implemented for the first time in Kenya its own Instagram direct sales model by dressing people per their style and budget with its mission “Everyone Deserves to Dress Well”.

The retailer has five outlets within Nairobi and Mombasa.

Carrefour, which is operated by Majid Al Futtaim, also opened its eighth store at the two-floored Mega Shopping Mall.  

The mall occupies  170,000 SQFT property previously anchored by Nakumatt, which had occupied 40,000 SQFT designed using best practice retail space concepts and modern technology for ease of shopping and display.

Kenya’s retail sector performance softened, recording a 0.4% points decline in rental yield to 7.4% in H1 2020 from 7.8% in FY 2019. 

“Average occupancies dropped by 1.8% points from 75.9% in FY’ 2019 to 74.0% in H1’ 2020, and average monthly rents declined by 3.4% to Kshs 170.3 per SQFT from Kshs 175.6 per SQFT in FY’2019, according to Cytonn Investments’ H1’ 2020 report.

“We expect occupancy rates of major retail centres to drop during this period as most retailers are shutting down their operations to cushion themselves against the impact of the Coronavirus pandemic. However, we expect the sector to be cushioned by the continued expansion of local and international retailers such as Carrefour and Quicksmart.”