Not sure I'm on Uchumi's case always, maybe I see the potential that lies in the company. I mean it shouldn't be where it is at the moment, or is it that I see a clear opportunity for a Kenyan to succeed as a CEO? Would it not be encouraging to see a Kenyan business leader coming along and building this 'giant' - he would be a hero.
Simply because Uchumi was an icon a brand that has not been exploited. It is a fact that the biggest lie we grew up with (well most accountants maybe and the masses) was that the balance sheet represented the worth of a company. Since the ENRON/WorldCom saga it is clear balance sheet figures are unreliable.
So I was reading an article by Sebastian Mallaby (a Washington Post columist). Basically his argument is that brand name/identity has become very important.
The number of people who have grown up going to Uchumi are many and I'm sure so many would love to support the supermarket - I hope the new team sees this potential and is working on it. Maybe it's just me having crush on this supermarket.
Again what's the strategy? Especially with managing the brand name? Therein lies goodwill. Most companies would kill to have what Uchumi has (I only hope the directors know that). I hate to make comparisons with companies here but others have succeeded in their turnaround strategies.
A good and favourite case in point is Marks & Spencer here in the UK - two years ago it was strugling, facing takeover threats from the rival BHS, which at the time was the darling of the city. There was so much politics involved in resisting unwanted advances from the favoured bhs owner Phillip Green (I think he is a sir now)
To cut the long story short M&S went through a period of re-branding and not long after it has been perfoming well - new bold adverts for its designer fashion clothing, stores well laid out and above all looking for a new strong management team. This has been reflected in the stock market
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