Shares

Khetia Drapers, a retail company in Kenya, has announced that it is merging the management of Society Stores retail chain to unlock value and accrue benefits for the business.

The company said the two entities have existed under one family umbrella since inception and they felt that it was time to bring everything under one roof. This will in turn create one large national chain which will have more than 20 outlets making a combined turnover among the top 5 in the Kenyan retail industry.

“The above will also lead to economies of scale and further efficiency in time and cost savings as we shall eliminate duplicate head office costs,” the company said in a statement.

Khetia Drapers which was founded in May 1982, is headquartered in Kitale Town, Trans–Nzoia County. The company owns a chain of supermarkets in Kitale and Kakamega, Busia, Eldoret, Bungoma and Kisumu.

Society Stores which was founded by Trushar Khetia, opened its first branch in Thika in October 2014. The retail chain currently has 6 stores located in Naivasha, Limuru, Thika, Nyeri, Meru, Chuka and Maua.

The group says the consolidation process is expected to be completed in December 2021.

The company further stated that all outstanding account balances will have full and final reconciliation between the two teams, before which all final balances will be fully paid up by Society Stores.

“All supplier payments are 100 per cent assured and guaranteed by the KDL Group as our relationship will continue even stronger via Khetia’s going forward,” read part of the statement.