Retail Lulu Group targets Iraq and Africa ahead of Abu Dhabi IPO Lulu Group International is planning a listing on the Abu Dhabi Securities Exchange in 2023 and has hired investment bank Moelis & Co to advise it. The supermarket chain, which has its headquarters in Abu Dhabi, also confirmed to AGBI that it will add new outlets to its network as it consolidates in the Middle […] October 14, 2022
Retail Amazon among brands using DIFC Courts to resolve disputes E-commerce giant Amazon is one of a growing number of major companies citing the DIFC Courts in its sales terms and conditions as the venue to resolve disputes with customers and third party resellers. Established in 2004 as the English-language, independent, common law legal system for the Dubai International Financial Centre (DIFC) free zone, the […] October 13, 2022
Retail India’s Nykaa and Dubai’s Apparel Group forge Gulf alliance Indian cosmetics and fashion retailer Nykaa and Dubai-based lifestyle and fashion conglomerate Apparel Group have struck an alliance to expand in the Gulf region, the companies said on Thursday. With the agreement, Nykaa hopes to grow in a region where it sees high demand for beauty products, months after inflationary pressures in India led it […] October 7, 2022
Retail UAE ecommerce market forecast to reach $9.2bn by 2026 The UAE’s ecommerce market may reach $9.2 billion, and account for 12.6 percent of total retail sales by 2026, the Dubai Chamber of Commerce said in a report. Total ecommerce sales hit $4.8 billion in 2021, compared to $2.6 billion in 2019, the report stated, based on data from research firm Euromonitor. Mobile devices, such […] October 5, 2022
Retail India’s Ferns N Petals blossoms in the Middle East Indian flower and gifting company Ferns N Petals is forecasting 50 percent annual growth in the Middle East as it expands into more markets including Saudi Arabia, ahead of a potential stock market listing within three years. Established in New Delhi in 1994, Ferns N Petals is one of the largest floral retail chains in […] October 3, 2022
Retail Ben & Jerry’s says Unilever ‘covertly’ took trademarks Ben & Jerry’s says parent company Unilever Plc wrongly transferred brand names out of reach of its independent board more than 20 years ago in an updated lawsuit over its business in Israel filed on Friday in federal court. The Vermont ice cream maker says that Unilever “covertly” moved its trademarks to a Unilever business […] October 3, 2022
Retail 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 […] October 2, 2022
Retail 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 […] October 2, 2022
Retail 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 […] September 26, 2022
Retail 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 […] September 22, 2022
Retail 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 […] September 18, 2022
Retail 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 […] September 15, 2022
EXCLUSIVE Banking & Finance Dukkantek unveils plan to lend capital to small retailers Dukkantek, whose tech platform is used by 13 million retailers in the Middle East, has secured $10m in pre-series-A funding September 12, 2022
Retail 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 […] September 8, 2022
Retail $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 […] September 8, 2022
Retail 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 […] September 7, 2022
Retail 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 […] September 6, 2022
Retail 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 […] August 31, 2022
Retail 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 […] August 30, 2022
Analysis Retail 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 […] August 30, 2022
Long read Retail 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 […] August 29, 2022
Analysis Retail 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 […] August 26, 2022
