Video length: 04:47 VIDEO Retail Tech to help UAE’s baqalas hold off larger grocery rivals Baqalas — small convenience stores – represent 81 percent of the UAE’s grocery retail outlets. But they need to adopt technology if they are to maintain their 56 percent market share against competition from supermarkets and hypermarkets. Watch the video to find out more. More videos from AGBI July 25, 2024
Retail ADIA considers $1bn funding in Nestlé ice cream Abu Dhabi Investment Authority (ADIA) is considering a €1 billion ($1.1 billion) investment in a French company that was set up as a joint venture with Nestlé. The investment would be into Froneri, an ice cream manufacturer that was established in 2016 as a partnership between Nestlé and PAI Partners, a private equity company. The […] July 24, 2024
Retail PepsiCo growth defies Middle East boycott of Western brands PepsiCo Inc has reported robust growth in the Middle East, defying the boycotts that have battered other Western brands in the region. The food and beverage giant posted double-digit organic revenue growth in Egypt for the second consecutive quarter, even though it has been the subject of a backlash linked to perceived US support for […] July 16, 2024
Manufacturing Henkel expands Gulf presence with Riyadh factory German consumer goods group Henkel has opened a beauty care production facility in Riyadh amid a localisation drive by the Saudi government. The facility in Riyadh will produce a range of products under the Pert brand, including shampoos, conditioners and other specialised items. No details were given on the production capacity and cost of the facility. […] July 16, 2024
Retail Saudi shoppers heavily favour local produce Saudi shoppers heavily favour local produce over imported foodstuffs and have a high interest in the use of artificial intelligence in food shopping, a new survey has found. It also described the Saudi supermarket sector as a huge opportunity for discount retailers. The Customer Perception Map by global consultancy Oliver Wyman, which included Saudi Arabia […] July 15, 2024
Opinion Retail The bricks-and-clicks battle to win over GCC shoppers In a region where shopping is entertainment, smart marketers must adopt a hybrid strategy July 12, 2024
Real Estate Sports and entertainment to push up Riyadh retail rents The sports and entertainment sectors will be key drivers in Riyadh retail rents rising by 28 percent by 2026, according to new research, with rates already up 3 percent in the past year. “The total existing retail supply in Riyadh stands at 3.6 million square metres, with around 27,050 square metres of retail space entering […] July 11, 2024
Finance Mubadala-backed Shein to invest $271m in Europe Chinese fashion retailer Shein, backed by the UAE’s Mubadala sovereign wealth fund, will invest €250 million ($271 million) over the next five years in the UK and Europe to expand its online business. The company has allocated €50 million for potential investments in research and development or pilot production facilities in Europe or the UK. […] July 10, 2024
Manufacturing Agthia enters Saudi protein market with $25m facility The UAE’s food and beverages group Agthia is expanding its presence in Saudi Arabia, the largest economy in the GCC. The Abu Dhabi-listed company, which is majority owned by the Abu Dhabi government through the state investor ADQ, has opened a new AED90 million ($24.5 million) protein manufacturing facility in Jeddah to support growing demands […] July 9, 2024
Manufacturing Fall in Almarai’s Q2 revenue hits bottom line Revenues for Saudi Arabia’s Almarai, the Middle East’s largest dairy farm, fell 6 percent year on year in the second quarter of 2024, driven by seasonal changes in consumption patterns. The top line fell to SAR5.2 billion ($1.4 billion) during the April to June period, compared to SAR5.46 billion a year earlier. The drop in […] July 8, 2024
Analysis Leisure & Hospitality Arabic films gain star status in Middle East cinema An Emirati family’s life spirals out of control when the behaviour of their son Ahmed, a once softly spoken, confident young boy changes – with terrifying consequences. As his actions become increasingly unpredictable, the lives of those around him are placed in serious danger. Some counsel medical intervention, but the boy’s mother Maryam is convinced […] July 5, 2024
Analysis Retail Does Dubai need more malls? The people say yes In a city that already has more than 60 million square feet of leasable retail space, one of the highest per capita in the shopping-crazy Gulf, it is perhaps surprising to see more malls being built or added to the pipeline. Yet that is exactly what is happening in Dubai, where this week Sobha Realty […] July 4, 2024
Economy UAE businesses increase prices to protect margins Companies in the UAE were forced to hike prices for a second month in succession in June, according to the latest business sentiment survey from ratings agency S&P Global. S&P attributed the sharp rise in input prices to material costs, shipping fees and overheads. Wages also grew marginally throughout the month, leading to the fastest […] July 3, 2024
Retail ADIA leads Indian beauty retailer’s $120m fundraising The UAE’s Abu Dhabi Investment Authority (ADIA) has led the $120 million funding round of Indian online beauty retailer Purplle Group, local media reported. The startup’s valuation has increased by 14 percent to $1.25 billion after the latest funding round, Mint, an Indian financial daily, reported. Overall, Purplle has raised more than $500 million. “ADIA […] July 2, 2024
Retail Saudi brands cash in on Gaza boycott as food market grows Saudi Arabian food and beverage brands are hoping to benefit from regional consumers shunning Western brands over the conflict in Gaza, with some franchise owners beginning to feel the impact of an informal boycott. Some outlets in the Gulf have stopped stocking Western soft drinks and are replacing them with Saudi versions that have shot […] June 26, 2024
Retail Turkish retailers’ confidence wavers as inflation bites Confidence is falling among Turkish retailers, according to a survey from the country’s statistics agency Turkstat. Shoppers have been scaling back on big-ticket purchases, spending instead on basic consumer goods as inflation piles pressure on household incomes. May’s business confidence report, released by Turkstat on June 24, showed sentiment in the retail sector at its […] June 24, 2024
Retail Spinneys opens first Saudi supermarket in Riyadh Spinneys has opened its first supermarket in Saudi Arabia and is planning a further 12 stores in the country by 2028. The UAE supermarket operator listed on the Dubai Financial Market last month and raised AED1.38 billion ($375.7 million) from its initial public offering, which was oversubscribed almost 64 times. The first Spinneys in Saudi […] June 24, 2024
Analysis Retail Premium Qatar malls thrive despite online competition Large high-end malls in Qatar are winning the favour of consumers who still choose to shop in person amid intensifying competition from the internet. However, other shopping venues are suffering from reduced footfall and growing vacancy rates. The flagship Doha Festival City announced last month that it is fully leased after clinching its 500th retail […] June 19, 2024
Retail Chalhoub Group in venture with Italian luxury brand Luxury distributor Chalhoub Group has entered into a joint venture with Italian fashion conglomerate OTB Group to expand the brand’s footprint in the Gulf. OTB (which stands for Only The Brave) owns the Diesel, Jil Sander, Maison Margiela, Marni and Viktor&Rolf brands, the Staff International and Brave Kid companies, and holds a stake in the […] June 17, 2024
Retail Private jets to flamingos: the personal shopping lists of the super rich The luxury e-ommerce retailer Pastor & Co, which boasts it can supply clients with everything from Picasso paintings to swans, is aiming to pass $10 million in profits this year, buoyed by strong interest from the rich and famous across the Mena region. The personalised shopping service gets requests to source anything from a rare Fendi […] June 14, 2024
Video length: 04:30 VIDEO Retail Oman’s Amouage outgrows ‘overdeveloped’ GCC market Amouage, the Omani luxury perfume brand, now counts the United States as its biggest revenue generator after three years of continued growth, says Renaud Salmon, the company’s creative officer. Founded in 1983 by the Albusaidi family, Amouage recorded annual growth of 24 percent in 2023, with global retail sales doubling over the last three years. […] June 9, 2024
Food & Drink Mubadala-backed Zamp buys Starbucks brand in Brazil Zamp, a Brazilian restaurant chain backed by Abu Dhabi sovereign fund Mubadala, has signed a deal to buy the Starbucks brand in the South American nation. The operator of Burger King and Popeyes stores in Brazil, Zamp signed an agreement with bankruptcy-hit SouthRock Group to acquire certain assets and rights of the Starbucks brand for 120 […] June 7, 2024
