Pakistan’s leading footwear manufacturer and exporter, Servis Group, has opened a subsidiary, Servis Shoe Africa, in the Kenyan market.[hidepost=9][/hidepost]
The group’s chief executive officer, Omar Saeed, said it had invested Ksh.160 million (US$2 million) in the last few months with an intention of making more investments in the country as the market opens up.
“We view Kenya as a strategic entry point in the East African market due to its favourable environment for investments,” Saeed said. “We are entering this market with [a] wholesale and retail business plan as we prepare to open further retail outlets this year along with growth in wholesale,” Saeed added.
The group, whose overall sales turnover is $200 million, plans to increase its footprint in the new market. “We will not go for short term gains and skim the market, rather we are here for long term commitment for the benefit of Kenyans,” the CEO explained.
Saeed said Kenya is a strategic country with more investment opportunities and called on other Pakistani companies to follow suit. “Kenyans are fashionable people and our entry into this vibrant market will create a variety of choice for the people,” he said.