Few regions have shown the kind of year-on-year resilience that we’ve seen in the GCC. Leaders across the business community have successfully tackled challenges emerging from the global pandemic and unpredictable supply chains, to more recent rises in inflation, geo-political conflicts, and massive technological resets. It is no surprise that the World Bank forecasts a healthy growth climate for economies in the Gulf this year.
A contributing factor to this positive outlook is the diversification efforts by the region’s governments and titans of industry. At AKI, this is very much part of our own success story: recognising that the GCC is not only a global marketplace but a dynamic ecosystem where adaptability and rejuvenation are the currency of success.
The truth is that diversification is not merely a boardroom strategy. Nor is it a quick reactive pivot. It must be ingrained in the fabric of one’s business, so that people inside the business actively tap into their entrepreneurial side to seek out change while remaining connected to both commerce and the community.
At AKI, we’ve nurtured a spirit of smart agility and fostered an open-to-opportunity attitude that fuels this process. As a result, we continue to diversify across our ten business units within six core industries, including retail, healthcare, consumer goods, fitness & lifestyle, contracting, and automotive.
From BinSina Pharmacy’s longstanding innovation in the health sector, to Befit developing as an integrated fitness destination for sports and fitness enthusiasts, we see plenty of opportunity to launch locally-inspired concepts in different sectors. This diversification and adaptability have helped us to expand AKI’s footprint beyond its UAE origins, now proudly providing products and services in nine countries across the Middle East and Africa region.
It really comes down to touching many parts of people’s lives to bring them the things that matter.
In the highly competitive retail landscape, for instance, AKI collaborations with partners such as Superdry, Petit Bateau, adL, and Nanàn speak to the importance of aligning with shifting consumer preferences in the ‘moments’ economy, where customer experiences are king. It is also why we have diversified the ways that we engage consumers on behalf of our partners, doubling down on our investments in e-commerce and mobile-led experiences.
Meanwhile in healthcare, we’re staying in step with the region’s appetite for comprehensive healthcare solutions and a holistic approach to well-being, which has led to the success of AKI Healthcare, Medical & Laboratory, and Pharma.
Our belief in seizing new opportunities is visible in other areas, too. Our Gulf Contracting & Landscaping business has transcended beyond erecting structures to crafting sustainable spaces and landscapes that resonate with the spirit of the community. At the same time, AKI Consumer Goods division (food and non-food) now ranks among the top three largest UAE FMCG suppliers.
Looking ahead, we know economic paradigms will continue to shift. Consumer preferences will evolve. New uncertainties will arise. In this environment, businesses in the GCC would do well to chart a course that embraces diversification in the year ahead.
Follow us on
Brand View allows our business partners to share content with Arabian Business readers.
The content is supplied by Arabian Business Brand View Partners.
