Company History



Company History

 

Deacons was founded in 1958 and traded successfully for 22 years as the Marks & Spencer (M&S) franchise for the East African region. In 1980, the Kenyan Government through regulation prompted Deacons to make a major realignment resulting in it working with 70 suppliers from the local textile industry to supply its stores. This inevitably led to the relinquishing of the M&S Franchise.

Following the liberalization of the Kenyan economy in the early 1990’s Deacons changed its strategy to identify international brands that met the lifestyle needs of the Kenyan market.

Deacons (East Africa) PLC (previously Deacons Kenya Limited) was incorporated in Kenya, as a private limited liability company under the Companies Act on 20th March 1973 and converted to a public company on 26th October 2016. Deacons’ principal business is to operate retail establishments including franchise and department stores selling ladies’, men’s and children’s clothing, footwear, accessories, gifts, cosmetics and sporting goods amongst other items in East Africa for the following brands

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  1. 1958

    Deacons starts its operations as a Marks & Spencer franchise.

  2. 1994

    Signing of a distribution agreement with Woolworths.

  3. 1999

    Signing of a Franchise agreement with Woolworths.

  4. 2003

    Launch of the first fully owned Deacons brand – 4U2.

  5. 2006

    Private placement and rights issue of Ksh. 144.8M to finance refurbishment, expansion of store network and launch of new brands.

  6. 2007

    Launch of the Mr Price and Mr Price Home brands in Kenya.

    Commencement of operations in Tanzania.

  7. 2008

    Launch of the Second Deacons owned brand – Angelo.

  8. 2009

    Commencement of operations in Uganda with the Mr Price brand.

  9. 2010

    Public offer that raised KSH 800M.

    Company shares start trading OTC.

    Store footprint - 23 stores.

  10. 2011

    Deacons commences operations in Rwanda and launches Babyshop in Kenya.

  11. 2012

    Deacons signs a joint venture agreement with Woolworths.

    Store footprint – 20 stores.

  12. 2013

    Launch of the Bossini brand in Kenya.

    Store footprint – 25 stores.

  13. 2015

    Completion of exit from Woolworths.

    Launch of 2 new stores in Uganda.

    Store footprint – 31 stores.

  14. 2016

    Deacons lists on the Nairobi Securities Exchange.

    Launch of 2 stores at the Kigali Heights Mall in Rwanda.

    Launch of Reebok (Under the Adidas Franchise)

    Launch of 2 stores at the Hub.

    Launch of Bossini Store at the Hub.

    Launch of F&F Store at the Hub

  15. 2017

    Launch of Bossini Store at Two Rivers Mall

    Launch of MRP Store at Two Rivers Mall

    Launch of MRP Home Store at Two Rivers Mall

    Launch of F&F Store at Sarit Centre

    Launch of Bossini Store at the Hub.

    Launch of Adidas Store in City Mall, Nyali