Company: Yousuf MA Naghi & Sons Group
Country: Saudi Arabia
Wealth: 5 Billion
The Yousuf MA Naghi & Sons Group traces its origins back to 1911 when a Jeddah resident, Mohamed Abdulwahab Naghi, laid the foundations for a business empire that would later thrive through innovative marketing and pioneering branding techniques.
Mohamed Abdulwahab’s son, the late Yousuf MA Naghi, built the group to its present status and reputation, while today it is jointly owned and managed by Yousuf’s four sons: Mohamed, Yaser, Saleh and Ammar. Although its core business has always been distribution and logistics, the group has diversified its activities into the retail, service, catering, transportation and manufacturing sectors.
With its headquarters in Jeddah, the group operates throughout Saudi with a comprehensive network of offices, warehouses and showrooms, as well as active companies in the UAE and Egypt.
The luxury car division has seen strong returns and show signs of recovery from the downturn, with Rolls-Royce sales soaring 250 percent in Abu Dhabi during the first nine months of this year and BMW sales up thirteen percent in the first half of 2010, while September year to date sales of the UK luxury automotive brand in Saudi Arabia have increased by 223 percent in comparison to the same period in 2009.
Besides luxury car brands, the Naghi name has been associated with partners including Masterfoods (Mars), Boots, Hyundai, LG Electronics, Philips, Reckitt Benckiser, Japan Tobacco International, L’Oreal and Warner Lambert, as well as many other companies from around the world.