Turkey-based clothing company LC Waikiki has signalled its plans to open retail shops in Kenya to help the leather industry in its take-off mission.
Officials from the ministry of industrialisation and enterprise development led by Cabinet Secretary Adan Mohamed are in Turkey wooing investors to the leather sector and according to the CS the country is offering unique opportunities for investors in the leather industry.
“Kenya is offering a world class investment location with our competitive advantages that present a huge opportunity to invest in the textile and apparel sector. We have duty free access to a huge market through the African Growth and Opportunity Act (AGOA) and European Union (EU) that is still punching below its weight despite Kenya being the leader in Sub-Saharan Africa,” noted the CS.
LC Waikiki’s CEO Smail Sac noted that the company is planning to diversify its markets and it’s in discussion with leading shopping malls in a bid to acquire retail shops. “We are exploring the emerging retail market opportunities that the growing middle class presents in Africa and Kenya is one of our focus countries,” said Mr Sac. “We are in talks with The Junction, Two Rivers and Garden City to acquire shops at their premises.”
LC Waikiki operates in over 23 countries and has over 500 stores in the retail market. The company is also ranked first in the Turkish Ready to Wear (RTW) clothing industry and 27th in Fortune’s 500 list.