NIGERIA. The Nigerian Army Post Exchange (NAPEX) has struck a 25-year partnership with S&W International for the renovation, supply and operation of 48 stores at military barracks around the country. The partners will invest in upgrading existing stores, which range in size from around 50sq m to 500sq m, as well as building new ones, as they aim to enhance the offer to military personnel and their families.
The stores, which will continue to trade under the NAPEX name, are located in all 36 states in Nigeria. Currently average spend is around US$7, but NAPEX said it expects this to grow as the store environments and product ranges improve.
The first store undergoing a refit is the 350sq m outlet in Bonny Camp, headquarters of NAPEX in Victoria Island, Lagos. This will act as a flagship for the upgraded network of shops, along with a second major store in Abujah.
The business is driven by wines & spirits and food items, while cosmetics and accessories are also available. Consumer electronics including white goods are seen as a significant growth opportunity.
NAPEX, which was founded in 1984, will also assist with the transport and distribution through its well-established network so that goods can arrive across the country in a timely, secure manner.
Beyond the military duty free stores, which are open to soldiers and their immediate families, NAPEX and S&W International are also examining other opportunities in the channel. Among these is the diplomatic business, with a major new store set to open in Abujah soon.
Alongside the core categories this store will sell luxury goods, including fashion & accessories. Average spend among Nigeria’s large diplomatic community is expected to hit an estimated US$50 per visit.
Brigadier General Morakinyo Abiodun, who heads NAPEX, said: “The joint venture between NAPEX and S&W is exciting news for our hard-working armed forces and their families. They will see big improvements to the stores, the range of stock and services provided at each locations. Our CSR initiatives will also bring them additional rewards and benefits as an extra ‘thank you’ for their tireless work serving our nation. The future is brimming with possibilities and we are exploring expansion into other retail and duty free formats.”
*NAPEX and S&W International will attend next week’s TFWA World Exhibition in Cannes. For more information contact Brigadier General Morakinyo Abiodun (email@example.com).