Vivo Fashion Group Limited is embarking on a new growth journey by joining Nairobi Securities Exchange’s Ibuka program for high-growth companies, according to a press release Wednesday.
The leading African women’s fashion brand aims to tap into Kenya’s capital markets for financing its next phase of expansion across the continent.
“We believe the capital markets have the ability to enable our business access cheap and long-term capital that will be critical in financing our next phase of growth as we target to become the largest ladies’ fashion brand on the continent,” said Vivo Fashion Group Managing Director Wandia Gichuru.
Founded in 2011, Vivo Fashion designs and manufactures affordable, quality clothing for women of color and curvaceous women. With 24 stores across Kenya, Rwanda and Uganda, the group employs over 360 people, 70% of whom are women. Its vision is to “see Africa dress herself, and the world.”
Vivo’s online fashion marketplace ShopZetu hosts over 350 international and local brands. The company aims to inspire the next generation of African fashion entrepreneurs.
Joining the NSE Ibuka program will enable Vivo Fashion to restructure and position itself to pursue debt or equity transactions, according to NSE Vice-Chairman Paul Mwai. He said Vivo’s admission demonstrates its commitment to exploring fundraising opportunities to enhance growth.
The NSE Ibuka program promotes corporate development and prepares companies to access capital markets in Kenya. It offers visibility, brand recognition, business opportunities, improved corporatization, and a roadmap to sustainability.
“The Ibuka Program will enable Vivo Fashion Group restructure its business in line with its short and long-term vision and strategic priorities, thus positioning it well to pursue debt or equity capital market transactions,” Mwai said.
