Foschini Group Kenya, a South African-based fashion brand, has announced its decision to exit from the Kenyan market after a consensus reached during the members’ extraordinary general meeting last week.
The fashion brand dealing with clothing, jewelry accessories, sporting and outdoor equipment, as well as homeware, has been operating various shops in the country, including Foschini women’s wear, Markham, and a second Sterns store at the Nairobi Village Market.
The firm has now appointed both Messrs George Weru and Muniu Thoithi as the joint liquidators of the company, which has been operating in various shops in the country, including Foschini women’s wear, Markham, and a second Sterns store at the Nairobi Village Market.
The Foschini Group first came into Kenya back in 2016 through its Sterns outlet at the Junction Mall, making it its first entry into the country and the East African market.
The group has a network of more than 2,100 stores in Africa, including Botswana, Nigeria, Ghana, Lesotho, Swaziland, and South Africa.