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Retail

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

Omantel to invest $1.6bn from towers spinoff in growth projects

State-owned Omantel, a subsidiary of Oman Investment Authority (OIA), will set up one of the largest regional telecom tower companies through the sale of telecom towers, Oman Daily Observer reported, citing CEO Talal Al Maamari. The operator announced the sale of its telecom towers in Oman in 2021, further expanding it to cover Zain-linked infrastructure […]

Domino’s Pizza operator to focus on coffee market in Turkey

DP Eurasia, which runs the Domino’s Pizza brand in Turkey and Russia, said on Friday the group would focus on its Turkish market and growing its coffee business, as Western sanctions and the uncertainty of war overshadow Russian sales. “The Turkish market has been growing faster than two-to-three years ago and our coffee business is […]

McDonald’s hikes prices in Japan on higher input costs, weaker yen

Japan’s McDonald’s fast food restaurants will raise prices on about 60 percent of its offerings to customers, fuelled by rising input costs and exchange-rate fluctuations, the company said on Monday. It marks the company’s second set of price increases this year as Japan grapples with inflationary pressures and a slide in the yen to a […]

Dubai warehousing costs rise to among the highest in the world

Warehousing costs in Dubai rose by 7.7 percent in the 12 months to June 2022, making it one of the most premium warehousing markets in the world.  Across 52 global markets monitored by Savills for its 2022 Impacts programme, Dubai was ranked fourth due to strong demand and lack of Grade A stock, leading to occupancy […]

Abu Dhabi’s IHC in bid to acquire stake in Colombian food producer

Shares in companies that are part of Colombia’s largest conglomerate GEA rose on Wednesday after Abu Dhabi-based investor International Holding Company (IHC) launched a bid to buy a stake worth up to $2.15 billion in Nutresa. Grupo Empresarial Antioqueno, or GEA, is a conglomerate of more than 100 firms, including Nutresa, where many own significant […]

Turkish florists rush to meet surge in UK demand after Queen’s death

Turkish florists are resorting to cargo planes instead of trucks as they rush to send as many flowers as they can to the United Kingdom to meet a deluge of orders after the death of Queen Elizabeth. Orders for cut flowers have soared by 90 percent since the queen died, said Selcuk Celebi, a member […]

Gulf investor among consortium buying 33% of Egyptian Domty

A consortium has acquired about 33 percent of Arabian Food Industries Co.(Domty) in a tender offer worth about EGP512 million ($26.5 million), Expedition Investments, a special purpose investment vehicle, told Reuters on Wednesday. The deal was priced at EGP5.50 per share, up from EGP5.00 at the beginning of the tender offer, after a fairness opinion […]

UAE likely to pioneer iPhone 14 emergency message service

The UAE is predicted to be at the forefront of adopting the iPhone 14 satellite message feature to send emergency messages from remote locations, according to a local retailer. “With the way Dubai Police and the Ministry of Interior work, I wouldn’t be surprised to see that here fairly soon,” Ashish Panjabi, chief operating officer […]

Pre-orders for the newly-launched iPhone 14, iPhone 14 Plus and iPhone 14 Pro will start tomorrow in the UAE, according to the Apple website

$1,088 iPhone 14 available on pre-order in UAE and KSA from Friday

Pre-orders for the newly-launched iPhone 14, iPhone 14 Plus and iPhone 14 Pro will start tomorrow (Friday, September 9) in the UAE, according to the Apple website. The standard and Pro versions will be available in the local market from September 19, while the delivery of the Plus variant will start from October 7.  According […]

The Apple iPhone 14 is revealed this week

Apple and Samsung herald latest UAE launches as rivalry cools

The global rollout of the Samsung retail store revamp will arrive in the UAE with much fanfare this week, within days of the next global Apple launch. But the battle for smartphone dominion is not as heated as it once was, according to Gulf retailers. Apple’s annual fall event – dubbed “Far Out” this year […]

Shop, Person, Human

Dubai Duty Free rehires 2,000 staff

Dubai Duty Free has recalled nearly 2,000 staff who were laid off during the global pandemic as the recovery in the regional aviation industry gathers pace. After announcing that sales have more than doubled in the first eight months of 2022 compared to the same period last year, the airport retailer said it has recovered […]

Hamish Harding, chairman of Action Aviation

Hamish Harding is the founder of Action Aviation, a UAE-based international aircraft brokerage company. He is also chair of the Middle East chapter of The Explorers Club, an international organisation dedicated to advancing field exploration and scientific enquiry – and has just been into space on Jeff Bezos’s rocket… What do you look for when hiring […]

Russia’s Ozon opens Turkish office to help cross-border orders

Russian e-commerce firm Ozon said on Tuesday it would open a local office in Turkey and make it easier for consumers to make cross-border orders, helping Russian shoppers to buy goods directly from Turkish sellers on its platform. As Western sanctions have rained down on Russia over its actions in Ukraine, commercial ties between Moscow […]

UAE diamond trade up 24.7% to $19.8bn in H1 2022

Around $19.8 billion worth of diamonds have been traded through the United Arab Emirates in the first half of 2022, the head of the Dubai Multi Commodities Centre (DMCC) said on Monday, a 24.7 percent increase year-on-year. Dubai has grown its diamond industry by leveraging its proximity to Africa and Russia, where many diamonds are […]

Back-to-school is big business after home learning era

The 2022 back-to-school season is forecast to be the best in history – and it’s typically the second biggest spending event for parents globally, behind holiday expenditures. Parents are forecast to spend a record amount this year, in a bid to treat their children, after two years of coronavirus pandemic uncertainty brought normal school life […]

From Chauf-fur to diamond dog collars, UAE pet sector booms

Whether it’s on a doggie cut and blow dry, a luxury kennel stay, or the finest food and bling accessories, UAE households spend nearly a quarter of a billion dollars on their four-legged friends every year. Market research firm Euromonitor International estimates that the UAE pet care industry will be valued at around AED854.4 million […]

Mall expansion fills ‘lifestyle’ gap in Bahrain retail market

A massive new expansion of one of Bahrain’s biggest malls is a sign of renewed confidence in the Gulf kingdom’s retail sector as it looks to attract more Saudi shoppers from across the border, according to experts. The Avenues Company, a wholly owned subsidiary of Al-Sorouh Management Company, has announced the appointment of Nass Group […]

Person, Human, Crowd

Alabbar to acquire stake in online retailer YOOX Net-A-Porter

Richemont Wednesday announced a long-awaited deal to offload most of its online fashion retailer YOOX Net-A-Porter (YNAP), clearing the way for its labels to sign up for technology run by luxury e-commerce specialist Farfetch. The deal, removing from its books a loss-making business that had become a distraction for the Swiss luxury group, was welcomed […]

Indoors, Market, Supermarket

UAE’s Majid Al Futtaim sees 73% surge in digital grocery sales

UAE retail conglomerate Majid Al Futtaim (MAF) recorded a 73 percent year-on-year rise in digital grocery sales in the first half of 2022, helping its total pre-tax earnings to rise 18 percent. The privately owned company, which operates the Carrefour supermarket brand in the Middle East, Africa and Asia, said earnings before interest, taxes, depreciation, […]

Person, Human, Text

Emaar to sell fashion retailer Namshi to Noon for $335m

Dubai’s Emaar Properties said on Saturday it is selling fashion e-commerce venture Namshi to Noon, an e-commerce company backed by Dubai billionaire Mohamed Alabbar and Saudi Arabian sovereign fund the Public Investment Fund (PIF). Emaar said in a bourse filing its board has in principle approved the sale, which values Namshi at $335.2 million, as […]

UAE retail economy report shows spending up 16% this year

Consumer spending in the UAE is proving resilient against the effects of market volatility, supply chain stress, rising fuel costs and inflation. The State of the UAE Retail Economy report from retail giant Majid Al Futtaim showed that overall spending increased by 22 percent in the first six months of 2022 compared to the same […]