China Square Owner reveals that he was making KSh10 million on a bad day
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China Square Owner, Lei Cheng reveals that his business, domiciled in Kenyatta University's Unicity mall, was making KSh10 million on a bad day
China Square Owner, Lei Cheng reveals that his business, domiciled in Kenyatta University’s Unicity mall, was making KSh10 million on a bad day.
China Square, a shopping center inside UniCity, opened its doors two months ago, and since then, the trade industry has seen a paradigm shift, with the majority turning their loyalty to Chinese-based trade.
In an interview with Nation, Lei Cheng noted that he set up his shop in Kenya on January 29, 20223, and two weeks later, he made over Ksh20 million.
This has been enabled by thousands of Kenyans who throng there for goods and services.
He also revealed that his daily sales have more than doubled from January 2023- indicating that he sells goods worth Ksh10 million on a low business day.
“The business is barely a month old. On a bad day, we sell goods worth Sh10 million,” Cheng told Nation.
Cheng revealed that he was inspired to start the business after he came across basic things being sold too expensive at local supermarkets.
He said the idea to start the business was fueled by his desire to avail basic goods to Kenyans at fair prices.
He maintained that he followed all legal processes in setting up the business.
Cheng noted that he has attracted Kenyans because of his market strategy that he feels is being unfairly targeted.
“My business is legal and is centred on healthy completion. We have followed all government directives for opening a business in Kenya and”we are here to break monopolies,” he added.
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However, on Saturday China Square announced that it had halted operations this Sunday for evaluation of its strategy.
Lei Cheng alias Charlie said he will take time to re-evaluate and re-plan the business’s strategy following the uproar.
“We regret to inform you that China Square Limited will be temporarily closed on Sunday, February 26, 2023,” the statement reads in part.
Cheng said the company was considering cooperation with local traders with an aim to better integrate itself with the community.
In reaction to the closure, Kuria said he will work with the Chinese owner to ensure that they build a manufacturing plant in Kenya.
This, he said would ensure they produce goods that Kenya can trade in rather than competing with local businesspeople in the retail business.
“I will assist China Square Owner Mr. Cheng to set up a manufacturing plant in Kenya and work on a distribution partnership with Gikomba, Nyamakima, Eastleigh, Kamukunji, Muthurwa, and River Road Traders,” he added in another tweet.
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