Wazua
»
Investor
»
Economy
»
Nakumatt: Another ailing Kenyan company
Rank: Elder Joined: 6/23/2009 Posts: 13,472 Location: nairobi
|
Ericsson wrote:washiku wrote:sparkly wrote:washiku wrote:Ericsson wrote:washiku wrote:Ericsson wrote:Naivas is a relatively low cost high volume model and deal mostly in fast moving consumer goods.That's why you don't find them in expensive and fancy shopping malls.
That should not be a big factor though. Further, we recently did a comparison and the price differences and the difference per price is in shillings, if not at par. Surprisingly some items were even slightly higher in Naivas. Items it's true.Compare the rent the two pay By the way on the rent I heard they usually agree on a percentage of their sales? Found that interesting. Which landlord would agree to such an arrangement? Am told many used to agree given that turnover for Nakumatt used to be quite attractive. And many of the mall owners are Indians Israeli, Chinese and Kenyans also own many of the spaces where Nakumatt trades. I doubt if the calculations of rent based on sales would be used. It simply doesn't make sense
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
|
|
|
Rank: Veteran Joined: 1/10/2015 Posts: 961 Location: Kenya
|
Passed at the new Naivas branch at Ridgeways. The branch is totally unlike the others, its very upmarket. Their designer did a splendid job and it can only be compared to Carrefour. It even has those automatic glass sliding doors you find in Europe and US. And they are selling everything from aged T bone steak to prawns and king lobsters. Naivas has become of age. The place was packed to capacity now that neighbouring Nakumatt doesn't have even milk. They also have free WiFi (even kwa parking) with excellent speeds. Proverbs 13:11 Dishonest money dwindles away, but whoever gathers money little by little makes it grow.
|
|
|
Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
|
sqft wrote:Passed at the new Naivas branch at Ridgeways. The branch is totally unlike the others, its very upmarket. Their designer did a splendid job and it can only be compared to Carrefour. It even has those automatic glass sliding doors you find in Europe and US. And they are selling everything from aged T bone steak to prawns and king lobsters. Naivas has become of age. The place was packed to capacity now that neighbouring Nakumatt doesn't have even milk. I've been thinking that Naivas needs to come up with a sub-brand to deal with the higher end market My thinking was wrong. Seems you can move your brand to cater for all segments. For Naivas Ridgeways, the advantage of being on the left side of the road is a big plus. No funny entrance
|
|
|
Rank: Elder Joined: 8/16/2011 Posts: 2,260
|
There is nothing Permanent on this world, only the soil of the earth.
The British were here and they gone... from colonialists to their banks, corporations etc
Then came the hungry Indians who were always ready for corrupt deals as far as they made easy money from Govt and others. Now they are as well feeling the pinch as those deals dissapear at the hands of African magnates and Wanjiku who prefer to buy from Vibandas and get loans from Chamas paying at the end month. The Indian and Muzungu will ask for cash every day
The Africans are rising and loving themselves, they need to produce than only market/sell and make opportunities for their own country people.
The dying corporations start when buyers of their product realize they are being cheated and they open their own.
Closing of these won't affect a dime, it creates chance for others.
90% of products sold here are all imports from meat products to cereals, eggs to stationery.
If Odinga is reach today, let it be Musyoka tomorrow, and life goes on!!!
|
|
|
Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
|
Realtreaty wrote:There is nothing Permanent on this world, only the soil of the earth.
The British were here and they gone... from colonialists to their banks, corporations etc
Then came the hungry Indians who were always ready for corrupt deals as far as they made easy money from Govt and others. Now they are as well feeling the pinch as those deals dissapear at the hands of African magnates and Wanjiku who prefer to buy from Vibandas and get loans from Chamas paying at the end month. The Indian and Muzungu will ask for cash every day
The Africans are rising and loving themselves, they need to produce than only market/sell and make opportunities for their own country people.
The dying corporations start when buyers of their product realize they are being cheated and they open their own.
Closing of these won't affect a dime, it creates chance for others.
90% of products sold here are all imports from meat products to cereals, eggs to stationery.
If Odinga is reach today, let it be Musyoka tomorrow, and life goes on!!!
|
|
|
Rank: Elder Joined: 6/23/2009 Posts: 13,472 Location: nairobi
|
sqft wrote:Passed at the new Naivas branch at Ridgeways. The branch is totally unlike the others, its very upmarket. Their designer did a splendid job and it can only be compared to Carrefour. It even has those automatic glass sliding doors you find in Europe and US. And they are selling everything from aged T bone steak to prawns and king lobsters. Naivas has become of age. The place was packed to capacity now that neighbouring Nakumatt doesn't have even milk.
They also have free WiFi (even kwa parking) with excellent speeds. Sounds awesome. Kudos to them
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
|
|
|
Rank: Elder Joined: 6/23/2009 Posts: 13,472 Location: nairobi
|
Realtreaty wrote:There is nothing Permanent on this world, only the soil of the earth.
The British were here and they gone... from colonialists to their banks, corporations etc
Then came the hungry Indians who were always ready for corrupt deals as far as they made easy money from Govt and others. Now they are as well feeling the pinch as those deals dissapear at the hands of African magnates and Wanjiku who prefer to buy from Vibandas and get loans from Chamas paying at the end month. The Indian and Muzungu will ask for cash every day
The Africans are rising and loving themselves, they need to produce than only market/sell and make opportunities for their own country people.
The dying corporations start when buyers of their product realize they are being cheated and they open their own.
Closing of these won't affect a dime, it creates chance for others.
90% of products sold here are all imports from meat products to cereals, eggs to stationery.
If Odinga is reach today, let it be Musyoka tomorrow, and life goes on!!!
Amen
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
|
|
|
Rank: Member Joined: 2/20/2015 Posts: 464 Location: Nairobi
|
Lolest! wrote:sqft wrote:Passed at the new Naivas branch at Ridgeways. The branch is totally unlike the others, its very upmarket. Their designer did a splendid job and it can only be compared to Carrefour. It even has those automatic glass sliding doors you find in Europe and US. And they are selling everything from aged T bone steak to prawns and king lobsters. Naivas has become of age. The place was packed to capacity now that neighbouring Nakumatt doesn't have even milk. I've been thinking that Naivas needs to come up with a sub-brand to deal with the higher end market My thinking was wrong. Seems you can move your brand to cater for all segments. For Naivas Ridgeways, the advantage of being on the left side of the road is a big plus. No funny entrance That could have been Uchumi eating Nakumatt Ridgeways lunch but ...
|
|
|
Rank: Member Joined: 12/21/2009 Posts: 602
|
|
|
|
Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
|
I think Naivas need to tread carefully if Nakumatt is anything to go by. With over expansion
|
|
|
Rank: New-farer Joined: 7/10/2013 Posts: 29
|
Been following the thread and news on this Nakumatt saga. Wondered if ppl remember that when Uchumi started having trouble at the beginning of Kibaki years and asked to be bailed out that Nakumatt wrote to Mukhisa Kituyi and David Nalo who were heading the then Trade ministry wondering why the co should be bailed and sinically wondering why they should not get a equal amount of money from taxpayers. They wanted their competition out of the way and indeed their growth came from the misfortune of Uchumi. Historically competitors have come to the rescue of each other in times of trouble. Think of Garett George from BBK to KCB at home and Microsoft and Apple in another market. Competition sometimes make companies stronger. The story of Uchumi and Nakumatt shall or can make a good desertation/research/ topics for MBA
|
|
|
Rank: New-farer Joined: 7/10/2013 Posts: 29
|
Both have imploded due to mgmt mistakes whether family and or inept managers(don't tell me about the dukawallah Shah) he too created the mess at Uchumi. You may have your view but ask the insiders- no succession plan. Hope Naivas and Tuskys don't follow the same path but as things stand . . . I fear!
|
|
|
Rank: Elder Joined: 12/4/2009 Posts: 10,639 Location: NAIROBI
|
http://www.theeastafrica...6048-4unfyez/index.html
Regional retailer Nakumatt is running out of options for survival after it emerged that its owners have no immediate plan to inject new capital into the business as the Kenya government has ruled out bailing out a private enterprise Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
|
|
|
Rank: Elder Joined: 2/8/2013 Posts: 4,068 Location: At Large.
|
Ericsson wrote:http://www.theeastafrican.co.ke/news/State-rejection-sets-Nakumatt-on-a-lonely-slide/2558-4006048-4unfyez/index.html
Regional retailer Nakumatt is running out of options for survival after it emerged that its owners have no immediate plan to inject new capital into the business as the Kenya government has ruled out bailing out a private enterprise Am told they are the ones who having been refusing to let go. Otherwise suitors have been coming.Some sentimental attachment of some sort. Love is beautiful and so are those who share it.With Love, Marriage is an amazing event in ones life time, the foundation of joy, happiness and success.
|
|
|
Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
|
Bigchick wrote:Ericsson wrote:http://www.theeastafrican.co.ke/news/State-rejection-sets-Nakumatt-on-a-lonely-slide/2558-4006048-4unfyez/index.html
Regional retailer Nakumatt is running out of options for survival after it emerged that its owners have no immediate plan to inject new capital into the business as the Kenya government has ruled out bailing out a private enterprise Am told they are the ones who having been refusing to let go. Otherwise suitors have been coming.Some sentimental attachmentdark financial past of some sort. Pesa Nane plans to be shilingi when he grows up.
|
|
|
Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
|
Pesa Nane wrote:Bigchick wrote:Ericsson wrote:http://www.theeastafrican.co.ke/news/State-rejection-sets-Nakumatt-on-a-lonely-slide/2558-4006048-4unfyez/index.html
Regional retailer Nakumatt is running out of options for survival after it emerged that its owners have no immediate plan to inject new capital into the business as the Kenya government has ruled out bailing out a private enterprise Am told they are the ones who having been refusing to let go. Otherwise suitors have been coming.Some sentimental attachmentdark financial past of some sort. In the next 2-3 months they will close completely. Ran short of some supplies for some event on Sato rushed to Mega...No pick and peel or Delmonte....no methylated spirit...No serviettes.The only thing I got is cotton wool. possunt quia posse videntur
|
|
|
Rank: Elder Joined: 12/7/2012 Posts: 11,901
|
maka wrote:Pesa Nane wrote:Bigchick wrote:Ericsson wrote:http://www.theeastafrican.co.ke/news/State-rejection-sets-Nakumatt-on-a-lonely-slide/2558-4006048-4unfyez/index.html
Regional retailer Nakumatt is running out of options for survival after it emerged that its owners have no immediate plan to inject new capital into the business as the Kenya government has ruled out bailing out a private enterprise Am told they are the ones who having been refusing to let go. Otherwise suitors have been coming.Some sentimental attachmentdark financial past of some sort. In the next 2-3 months they will close completely. Ran short of some supplies for some event on Sato rushed to Mega...No pick and peel or Delmonte.... no methylated spirit...No serviettes.The only thing I got is cotton wool.  Event  In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
|
|
|
Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
|
Angelica _ann wrote:maka wrote:Pesa Nane wrote:Bigchick wrote:Ericsson wrote:http://www.theeastafrican.co.ke/news/State-rejection-sets-Nakumatt-on-a-lonely-slide/2558-4006048-4unfyez/index.html
Regional retailer Nakumatt is running out of options for survival after it emerged that its owners have no immediate plan to inject new capital into the business as the Kenya government has ruled out bailing out a private enterprise Am told they are the ones who having been refusing to let go. Otherwise suitors have been coming.Some sentimental attachmentdark financial past of some sort. In the next 2-3 months they will close completely. Ran short of some supplies for some event on Sato rushed to Mega...No pick and peel or Delmonte.... no methylated spirit...No serviettes.The only thing I got is cotton wool. Event Chafing dishes... possunt quia posse videntur
|
|
|
Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
|
Quote:A senior Government official has laid bare the extent of Nakumatt Supermarket’s financial woes, revealing the retailer is reeling under a Sh30 billion debt.
This makes the recovery of the regional retail chain, whose debt position in the public domain has been put at Sh18 billion, more tasking.
According to the source, Nakumatt owes suppliers Sh15 billion. Ten commercial banks are also on its neck, seeking to recover Sh8 billion and it has also soaked in an additional debt to the tune of Sh7 billion in commercial paper. Read more at: https://www.standardmedi...ndisclosed-nakumatt-debt
|
|
|
Rank: Member Joined: 9/27/2006 Posts: 496
|
Now it makes sense why there were no eggs at Westgate and Junction on two separate occassions...
|
|
|
Wazua
»
Investor
»
Economy
»
Nakumatt: Another ailing Kenyan company
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
|