Abu Auf has opened more than 100 stores and increased EBITDA by over 70% in AED terms over the past two years
retail business
Latest in retail business
GCC retail market
Retail trends 2025: TikTok shopping, AI-powered stores, instant deliveries and online groceries coming soon
A look ahead to 2025 reveals major changes ahead for the retail industry. Get the lowdown on 10 industry trends changing the way we shop
Chalhoub Group
EXCLUSIVE: Chalhoub plots Saudi expansion with new Jeddah Airport operations
Expansion is in sight for the retail giant in Saudi and USA
foreign direct investment
Dubai’s Emaar to build $60mn mall, office towers in India’s Jammu & Kashmir
Dubai’s Emaar is the first foreign company to invest in India’s Jammu & Kashmir
Alcohol
Dubai firms scrap alcohol licence fee, 30% tax cut
Dubai alcohol licence now free from MMI and African + Eastern
brick and mortar business
Phygital experiences, sustainability and resilient supply chains will define UAE retail in 2023
The hybrid retail environment will combine the strengths of online and offline shopping
acquisitions
Reliance Group splurges $344mn for Indian arm of German retailer METRO
For Mukesh Ambani – Asia’s second richest man – the METRO India acquisition will offer some solace after his bitter and unsuccessful fight with Jeff Bezos in his bid to acquire leading Indian retail chain Fortune group
Al-Futtaim
UAE businesses, entrepreneurs can set up instant stores at Festival Plaza
Businesses and entrepreneur can open a store within weeks via the ‘check in and trade’ service at Festival Plaza, Dubai
AD Ports
Alabbar says Noon’s massive fulfilment centre in Abu Dhabi will be a ‘change agent’
KEZAD Group designing and constructing a 252,000 square metre fulfilment centre – largest in the UAE – for the region’s biggest online shopping company
Amazon
LuLu, Amazon announce major new online grocery store in UAE
Customers in the UAE will now be able to buy daily essentials and other grocery items from LuLu via Amazon
Black Friday
Qatar World Cup season, Black Friday discount sales predicted to mop up $70 billion revenue for MENA retail sector
Aside from retail, a latest market report also projected that the World Cup soccer period to generate a $4 billion opportunity through tourist spends, with 51 percent of it coming from spending on accommodation
Fashion
Fast fashion company SHEIN to open its first retail store in the world
The store will be be located in Tokyo’s Cat Street
beauty business
Famed Indian beauty startup Nykaa strikes JV deal with Dubai-based Apparel Group for GCC foray
The alliance will create an omni-channel multi retail brand in the Middle East with the Indian venture holding 55 percent stake in the new entity and Apparel Group the remaining 45 percent stake
Emirati business
Emirati-owned retailer bets big on $14 billion Himalayan pink salt industry
Aside from the new factory in Jebel Ali, GMG is also planning to build production lines for herbs and spices to be completed by early 2023
Abu Dhabi
Abu Dhabi food giant Agthia sets half-yearly dividend at $17.8 million
The announcement comes on the back of a strong financial performance by the company in the Jan-June 2022 period, posting a 51 percent jump in its revenues to reach AED2 billion
Abu Dhabi
ADNOC Distribution records $424 million in net profits amid rising fuel demand
Total fuel volumes rose by 9 percent, compared to the same period last year, driven by the company’s retail and commercial businesses.
Almarai
Saudi food giant Almarai records 8% jump in profits as revenues rise
Almarai’s bakery category led the growth during the period, recording a 124.6 percent increase due to higher sales