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Retail

Retail and consumer news from the Middle East. All the important stories, plus authoritative opinion and analysis.

Middle East breathes in smoking hot tobacco sales

The Middle East tobacco industry has seen strong growth in recent months, helped by duty free sales as the travel sector reopens following the pandemic. British tobacco firm Imperial Brands, which manages brands such as Davidoff, JPS and West cigarettes, reported this week that while its global revenue was down 1.3 percent to £15.362 billion […]

Person, Human, Sunglasses

Chiara Ferragni reveals investor interest in fashion brand

Chiara Ferragni has received various expressions of interest from potential investors in her brand, the Italian Instagram star said in an interview with Milano Finanza. Ferragni, 35, is Italy’s top fashion influencer with 27 million followers on Instagram. In January she mandated BNP Paribas to find an investor to help expand her fashion brand internationally. […]

Mashreq is predicting buy now, pay later transaction volumes in the UAE will increase by 60 percent to 80 percent in 2022. Picture: Creative Commons

Mashreq puts $10m into Cashew, buy now, pay later start-up

United Arab Emirates buy now, pay later platform Cashew announced on Monday it had secured up to $10 million in debt and equity financing from local lender Mashreqbank PSC which would now help it expand faster. The deal is the latest investment in the Gulf’s growing buy now, pay later sector that has drawn interest […]

Qatar scores as World Cup host but may not net long-term goals

Tucked behind Doha’s $300-million Lusail Boulevard, where construction workers are toiling to transform desert into a Champs-Elysees-inspired commercial thoroughfare before the 2022 soccer World Cup, sits a sole convenience store. With the main stadium, four skyscrapers and apartments designed for some 200,000 people all in Lusail, its manager Younes waits somewhat anxiously behind his till, […]

Moncler bets on store expansion, footwear to drive growth

Italian luxury group Moncler said on Thursday it would open, refurbish or relocate 200 stores in the next three years, mostly in Asia, and diversify into shoes and clothes for warmer weather. The group, which in 2020 acquired streetwear brand Stone Island, also said it expected to beat analyst forecasts for annual sales of 2.43 […]

Bicycle, Bike, Vehicle

Deliveroo backs off plan to cut pay of UAE riders after strike

Delivery service Deliveroo on Monday put on hold plans to cut pay and extend working hours for its drivers in the United Arab Emirates after a rare strike over the weekend. The Amazon-backed company said in an email to restaurants, seen by Reuters, that it had paused proposed changes in its rider pay structure and […]

Wristwatch, Clock Tower, Building

Swiss watchmakers grapple with fallout of Russian crisis

Swiss watchmakers are gathering in Geneva this week for their first big industry event in three years, tackling the impact of sanctions on rich Russians arisingfrom the war in Ukraine. Russia was only the 17th largest market for Swiss watch exports last year, but how to manage business and client relations during such a sensitive […]

Apparel to buy Karl Lagerfeld brand in $210 mln all-cash deal

Apparel Group Ltd said on Monday it has agreed to acquire the remaining 81% stake in Karl Lagerfeld for $210 million in cash, becoming the sole owner of the Parisian fashion brand. G-III, which owns brands including DKNY and Jessica Howard, will purchase the additional stake from a group of investors led by Fred Gehring […]

Person, Human, Shoe

Turkish consumer confidence hits record low in April

The Turkish consumer confidence index dropped 7.3 percent to 67.3 points in April, official data showed on Thursday, hitting its lowest ever level, driven by a 10 percent drop from the previous month in the financial situation of households. A slide in the value of the lira began driving a fall in consumer confidence late […]

Tata Motors maps out long-range EVs for India and beyond

Tata Motors says it plans to launch electric cars with a minimum range of 500 kilometres (310 miles) and advanced technology features, targeting buyers in India and beyond. The first electric vehicles (EVs) built using its new platform should be on the road in 2025, Tata said during an event in Mumbai where it unveiled […]

Logo, Trademark, Symbol

Americana selects banks for Saudi and UAE listings

The Middle East and North Africa franchisee of fast-food restaurants KFC and Pizza Hut has hired banks for a potential dual listing in Saudi Arabia and theUnited Arab Emirates, a source with knowledge of the matter said. Americana Group has selected Goldman Sachs, First Abu Dhabi Bank (FAB) and Saudi National Bank (SNB) for the deal, said the source, declining […]

UAE agtech Right Farm raises $2.8m from investors

Right Farm, a United Arab Emirates agriculture technology firm, said on Monday it raised $2.8 million from investors including Abu Dhabi state holding company ADQ’s venture platform. The company is a business to business digital platform which sources fresh produce from local and international farms for the food and retail sector. Right Farm said in […]

Dubai’s GMG to operate French supermarket chain Géant in UAE

Dubai retailer GMG said on Tuesday it had acquired the United Arab Emirates’ operations of French supermarket chain Géant from a company owned by Dubai Holding, of Dubai’s ruler Sheikh Mohammed bin Rashid al-Maktoum. GMG said it also acquired the rights to expand Géant’s operations in the Middle East as part of the deal from […]

Egypt’s urban inflation accelerates to 10.5%

Egypt’s annual urban consumer price inflation accelerated in March to 10.5 percent, its highest in nearly three years and faster than analysts had expected, data from the state statistics agency CAPMAS showed on Sunday. The inflation figure, up from 8.8 percent in February, was greater than a median forecast of 10 percent in a Reuters […]