Woolworths Kenya signs 'pay as you wear' sales deal
The-Star.co.ke - Nov 11th, 08:41
Clothing retailer, Woolworths Kenya has signed an agreement with consumer finance firm afb allowing its customers to buy goods on credit to be repaid in six months.
The company, owned 49 per cent by Deacons with Mauritian Woolworths Holdings controlling the remaining stake said the move was part of a wider strategy to drive sales.
Deacons chief executive Muchiri Wahome said the retailer was targeting a sustained annual growth of 40 per cent in turnover in medium term by leveraging on “innovation, quality and value for money.”
Deacons recently slashed its prices by an average of 25 per cent in a bid to stave off growing competition in a market segment driven by middle class.
“Availability of credit enables customers to purchase what they want when they want it,” Wahome said at a press briefing in Nairobi. “Saving for a specific purchase often leads to disappointment when the item has been sold.”
Woolworths has six stores in Nairobi and one in Mombasa.
Customers will access Woolworths store cards only after successfully showing proof of regular income while those in informal sector will have to be cleared by a credit rating bureau, said afb's managing director for cards Brett Van Aswegen.
Kenyan retailers eye festive season
20/11/2013 - 11:43
Kenya's top three retail chains, Nakumatt, Tuskys and Uchumi are set to open new stores in strategic locations across the country in time for the December festive season's shopping boom. - See more at: http://www.the-star.co.ke/news/article-143934/retailers-eye-festive-season-outlets#sthash.zmujr6bV.dpuf
SA wool market steady
15/11/2013 - 08:09
The South African wool market held on to last week’s gains and remained steady for this week, Cape Wools said on Wednesday.
Kenyan retailer Uchumi gets Uganda's share trading approval
14/11/2013 - 11:14
Uchumi Supermarket has received approvals to trade its shares on the Uganda Securities Exchange.
Mr Price earnings jump 22%
13/11/2013 - 14:36
Johannesburg - Retailer Mr Price on Tuesday posted interim earnings growth of 22% because of sales growth and said it plans to open over 40 stores in the second half of the year.
Brewer in new drive to recruit whisky drinkers, Kenya
11/11/2013 - 10:25
Kenya Breweries has unveiled East Africa’s first whisky festival to grow the drink’s sales. The drive, which is a campaign driven themed ‘Love Whisky Festival’ will take place during this month in different venues around Nairobi.