LG Electronics has set aside Ksh 100 million for its second phase of retail-outlet expansion in the Eastern Africa region, a move that will see 10 new stores open this year.
The expansion plan is now in its second phase after similar investments in both 2015 and 2016 that saw more than 30 new retail outlets opened in Kenya, Uganda, Tanzania, Ethiopia, Sudan, Zambia and Rwanda, the company said.
Additionally, the investment will also see existing outlets refurbished and upgraded to meet the global LG Electronics’ shop standards, the Korean firm added.
“Kenya will benefit from two new stores that will be located on the first floor of Sarit Centre and the ground floor of Kenrail towers in Westlands. This expansion is aimed at improving the availability of our innovative products to our growing client base,” Mr. Moses Marji, marketing director, East and Central Africa said at the opening of the Sarit Centre store.
The new stores will bring LG’s retail store count in the Eastern African region to a total of 122. Kenya will now have seven outlets.
“We are thrilled to be rolling out more outlets in the region that will offer a first-class shopping experience to our clients. As a leading electronics company, we enjoy nothing more than contributing to the region’s positive economic growth and delivering outstanding value to customers every day,” added Marji.
“Our projection is that this retail expansion will increase our reach and sales by about 25 percent over the next two years,” he concluded.