Vivo Fashion Group Limited has joined the Nairobi Securities Exchange (NSE) Ibuka Program, a premium incubation and acceleration platform for high-growth companies in Kenya.
Also known as Vivo Activewear, a retail clothing business that was started in 2011, offers a full range of clothing styles for women and men become the 34th member of the program.
Known for its bright, versatile, colourful, and edgy styles, Vivo has grown into the “go-to” store for stylish yet comfortable, functional, and affordable women’s clothing in Kenya.
“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,” Vivo Fashion Group Managing Director Wandia Gichuru stated.
— Vivo Fashion Group (@VivoActivewear) October 18, 2023
The brand currently operates 24 retail stores across Kenya, Rwanda, and Uganda and employs over 360 employees.
In addition to its physical stores, the group includes Shop Zetu, East Africa’s fastest-growing online fashion marketplace.
“The admission of Vivo Fashion Group Limited onto the NSE Ibuka Program is a testament to the firm’s commitment to explore fundraising opportunities in the capital markets to enhance the company’s growth and development,” Paul Mwai, NSE vice chairman, said.
“The Ibuka Program will enable Vivo Fashion Group to 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,” he added.