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Nakumatt to buy Woolmatt
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Zakumi
#1 Posted : Saturday, January 02, 2010 9:10:09 PM
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Nakumatt has resolved to buy woolmat in a bid to regain its foothold in the CBD after last year's tragic fire at Nakumatt Downtown.it would be interesting to see how the retail biz war would unfold considering that Uchumi hs refused to exit the scene with talks of a strategic investor underway.
The Strong Do What They Want,The Weak Do What They Must!
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Gordon Gekko
#2 Posted : Sunday, January 03, 2010 8:39:11 AM
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And the source of your story is?
As far as I know, Nakumatt doesn't own any physical building, so what will they be buying? If it is the customers they will buy (i.e goodwill) then it doesn't make commercial sense as the Nakumatt label can pull in customers on its own.
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Zakumi
#3 Posted : Sunday, January 03, 2010 9:26:49 AM
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@Gordon,its an acquisition for petes sake! Im sure uve heard of one,like what Tesco unsuccesfully tried to do with Uchumi awhile ago.


Thus the woolmatt chains would be rebranded to Nakumatt & FYI woolmatt also doesnt own any building.


Ive been privy to part of the transaction/negotiations,so dont worry about the source's auntheticity.
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poundfoolish
#4 Posted : Sunday, January 03, 2010 7:19:31 PM
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This is why i love SK Wazua..
In here i get relevant information....
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VituVingiSana
#5 Posted : Monday, January 04, 2010 8:23:32 AM
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I thot Nakumatt was thinking of taking over one of the cinemas on Latema Road (embassy or the other one)... Or even cameo cinema...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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QD
#6 Posted : Monday, January 04, 2010 8:34:22 AM
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are Nakumatt in retail business or ya manyumba????
The problem with the world is that the intelligent people are full of doubts while the stupid ones are full of confidence
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VituVingiSana
#7 Posted : Monday, January 04, 2010 9:23:23 AM
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@QD - kwani... u expect them to set up on the street?

Nakumatt has to secure (not necessarily buy but lease) space that meets their needs...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Zakumi
#8 Posted : Monday, January 04, 2010 9:42:31 AM
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@VVS,Havent heard about it,i think that would have been strategic...though the Woolmatt store in St. Ellis House opposite City Hall could be a perfect replacement of Downtown,in terms of clout and stature
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VituVingiSana
#9 Posted : Monday, January 04, 2010 10:04:55 AM
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St.Ellis House? I thought that was Mitchell Cotts... or has the name changed?

@zakumi - I disagree (latema vs city hall)... coz Latema Rd hosts matatus to many parts of the country as well as Lavington, Kile, Westie, Parklands, etc...

A lot of matatus that ply central are located in the latema rd area... and there is Akamba as well... not too far away On Accra Rd we have all those 'coast' buses...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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QD
#10 Posted : Monday, January 04, 2010 12:30:56 PM
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@Vitu i mean they need to look at a strategic location where they can meet mass retail for their kinda business and yes latema rd is strategic.
The problem with the world is that the intelligent people are full of doubts while the stupid ones are full of confidence
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Zakumi
#11 Posted : Monday, January 04, 2010 12:59:24 PM
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@VVS,Yeah! The name was changed to St. Ellis....now that you've said it i concur latema is the superior location of the two,i guess maybe getting some of these sites aint as easy as it seems.
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marex
#12 Posted : Monday, January 04, 2010 3:28:07 PM
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does nakumatt own any stake in tuskys?
The way I am
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Zakumi
#13 Posted : Monday, January 04, 2010 7:25:46 PM
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@marex,not any that i know of,all i know is that they are owned by cousins or is it members of the same clan.

Ever wondered why they both use elephants as their trademark/identity? I think its more than the reverence with which this mammal is percieved in the orient.
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VituVingiSana
#14 Posted : Monday, January 04, 2010 7:49:26 PM
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There must be some connection between the Tusky's & Nakumatt... maybe one day we will find out...

They share some facilities near Embakasi...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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bird_man
#15 Posted : Monday, January 04, 2010 8:18:36 PM
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Tuskys is owned by africans last time i checked.I was in a class 3yrs ago with one of the sons of the owner.
Formally employed people often live their employers' dream & forget about their own.
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VituVingiSana
#16 Posted : Monday, January 04, 2010 8:47:03 PM
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@bird_man You never know who is who... maybe harun mwau was the connection between Tusky's & Nakumatt???

Why do they share facilities? That I can't figure out...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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marko
#17 Posted : Tuesday, January 05, 2010 2:57:13 AM
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I remember a worker telling us way back that Nakumatt had bought out the original owners of Tuskys.this was mainly to have a presence in the lower end of the market.
WHO DARES WINS
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akowally
#18 Posted : Tuesday, January 05, 2010 6:22:18 AM
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Great insights by Mukiha on the Nakumatt-Tuskys question on this thread

http://www.wazua.co.ke/forum.aspx?g=posts&t=2928
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VituVingiSana
#19 Posted : Tuesday, January 05, 2010 7:48:19 AM
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LOL... all these ***matts are from nakuru

Tusker Mattresses = Tusky's
Nakuru Mattresses = Nakumatt
Stage Matt

Then we have woolmatt
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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akowally
#20 Posted : Tuesday, January 05, 2010 9:21:02 AM
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@VituVingiSana

By the way I know that Woolmatt HQ is in Nax, I wonder what it is with Nakuru and major Supermarkets...
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