IKEA, the world?s largest home furnishings company, is set to open its largest regional store in Abu Dhabi, as the Swedish company expands its Middle East footprint.
Aldar Properties said yesterday it had signed an agreement with the Al-Futtaim Group to build the store on Yas Island, the leisure destination being developed in the emirate.
The opening of IKEA on the island is another boost to Aldar?s US$40 billion (Dh146.92bn) development, which will host the Formula One Grand Prix for the first time in November.
The Abu Dhabi developer said the island was chosen for the store because of its location within the new growth area of the emirate, and its accessibility, close to a new road network.
IKEA, famed for its low-price, self-assembly furniture, has an existing store in Abu Dhabi at the Marina Mall, in addition to a store in Dubai?s Festival City, currently the largest in the region, which opened in 2005.
The retailer?s expansion of its presence in the UAE capital is part of a switch in its global focus from saturated markets such as the US and Europe to emerging markets that include the Middle East, China and Russia. Despite the financial crisis, IKEA said in May it was planning to push ahead with plans to expand into Oman and Qatar, in addition to opening more stores in Saudi Arabia.
Sunday 27 September 2009
Thursday 24 September 2009
14 retailers open at Festival Centre
Fourteen new international retailers have recently opened shops at the Festival Centre in Dubai Festival City, Khaleej Times has reported. Among the new brands are Build-a-Bear Workshop, Laura Ashley, Jerretelle Trading and Riverwood.
Qatar retail major charged over Ramadan price hikes
A big name retailer in Qatar is facing legal action by the government for ignoring a ministerial decision to freeze the prices of 104 consumer items during Ramadan.
The retailer, which has not been named, is understood to be the first in the Gulf state to be officially charged over price manipulation, it was reported on Monday.
It has been charged for violating the guidelines issued by the Ministry of Business and Trade related to the prices of commonly used items, mostly basic foodstuff, during the holy month, The Peninsula reported.
Inspectors from the Consumer Protection Department of the Ministry discovered the alleged violations and referred the case to the Public Prosecution and the case will now be heard in court, the report added.
The Ministry froze the prices of the 104 basic consumer items to protect consumers who had been complaining of unfair and unprecedented price hikes by retailers.
The court case is thought to be the first time any retail outlet has been charged for price manipulation in Qatar.
The retailer, which has not been named, is understood to be the first in the Gulf state to be officially charged over price manipulation, it was reported on Monday.
It has been charged for violating the guidelines issued by the Ministry of Business and Trade related to the prices of commonly used items, mostly basic foodstuff, during the holy month, The Peninsula reported.
Inspectors from the Consumer Protection Department of the Ministry discovered the alleged violations and referred the case to the Public Prosecution and the case will now be heard in court, the report added.
The Ministry froze the prices of the 104 basic consumer items to protect consumers who had been complaining of unfair and unprecedented price hikes by retailers.
The court case is thought to be the first time any retail outlet has been charged for price manipulation in Qatar.
Friday 18 September 2009
Metro increases footfall
Retail units operating in the new Mall of the Emirates Metro link have reported "huge footfall" on their opening weekend, mall chiefs said on Tuesday.
They said stores had started to open earlier than normal in an effort to catch the thousands of commuters using the metro to travel to work in the mornings.
Among the new businesses that have opened their doors along the link are Home Sweet Home, Emax, E-City, Paperchase, Borders Express, Cold Stone Creamery and Nokia while Jacky's and Better Life have relocated to the area and UAE Exchange now has its second outlet at the mall.
"We've found that our Metro Link stores are proving not only popular with visitors using the new service, but also with shoppers who come to the centre by other means," said Fuad Sharaf, vice-president of Mall of the Emirates.
"We designed it to be much more than a mere access route to the trains and it is clear that it is being seen more as a shopping extension to the mall by our customers," he added.
The new 1,753 square metre area facility has its own customer service desk, restrooms, trolley bays and courtesy parking crews to assist commuters and customers.
"Many of the Metro Link stores are opening early in the morning to help service the needs of commuters who are using the Mall of the Emirates as their exit station on their way to work," said Sharaf.
"We've noticed that a lot of people are stopping to pick up snacks and newspapers before they get to their offices and a number are also taking advantage of this quieter time of the day to ensure that they have the store assistants' undivided attention when enquiring about a particular product," he added.
The 175 metre-long link comprises three travellators operating in both directions.
They said stores had started to open earlier than normal in an effort to catch the thousands of commuters using the metro to travel to work in the mornings.
Among the new businesses that have opened their doors along the link are Home Sweet Home, Emax, E-City, Paperchase, Borders Express, Cold Stone Creamery and Nokia while Jacky's and Better Life have relocated to the area and UAE Exchange now has its second outlet at the mall.
"We've found that our Metro Link stores are proving not only popular with visitors using the new service, but also with shoppers who come to the centre by other means," said Fuad Sharaf, vice-president of Mall of the Emirates.
"We designed it to be much more than a mere access route to the trains and it is clear that it is being seen more as a shopping extension to the mall by our customers," he added.
The new 1,753 square metre area facility has its own customer service desk, restrooms, trolley bays and courtesy parking crews to assist commuters and customers.
"Many of the Metro Link stores are opening early in the morning to help service the needs of commuters who are using the Mall of the Emirates as their exit station on their way to work," said Sharaf.
"We've noticed that a lot of people are stopping to pick up snacks and newspapers before they get to their offices and a number are also taking advantage of this quieter time of the day to ensure that they have the store assistants' undivided attention when enquiring about a particular product," he added.
The 175 metre-long link comprises three travellators operating in both directions.
Louis Vuitton to expand into Lebanon
Louis Vuitton, the French fashion brand, has announced it is in the 'final stages' of a planned expansion into Lebanon. 'The next market where there are opportunities is clearly Lebanon, which has been resilient to the crisis and has already shown to be a strong market for luxury,' Damien Vernet, the company's general manager for Middle East and India operations told Reuters. The brand is also looking into Egypt, Jordan and Syria as possible markets, he added.
Kesa FD Quits
The finance director of FTSE-250 electricals giant Kesa has resigned.
In a brief statement this morning, the Anglo-French company said Simon Herrick had resigned ?in order to pursue other business interests.? It said he would leave ?in the coming months.? No successor was announced but the company said an announcement would be made ?in due course.?
Kesa has operations in eleven European countries, owning businesses including Comet in the UK and Darty in France.
Singer analyst Matthew McEachran speculated that new Kesa chief executive Thierry Falque-Pierrotin, who took charge in January, may want to bring in a former colleague from French retail empire PPR to replace Herrick.
In a brief statement this morning, the Anglo-French company said Simon Herrick had resigned ?in order to pursue other business interests.? It said he would leave ?in the coming months.? No successor was announced but the company said an announcement would be made ?in due course.?
Kesa has operations in eleven European countries, owning businesses including Comet in the UK and Darty in France.
Singer analyst Matthew McEachran speculated that new Kesa chief executive Thierry Falque-Pierrotin, who took charge in January, may want to bring in a former colleague from French retail empire PPR to replace Herrick.
Monday 14 September 2009
Product Managers Required- Saudi Arabia
Responsible for the research, introduction, product planning and product marketing and sales strategies for a wide range of Software within an agreed portfolio. This includes managing the product throughout the product lifecycle, gathering and prioritizing product and customer requirements, defining the product vision. Also, responsible for exceeding / achieving target sales volumes and revenue in accordance with retail unit store, established strategy, and business objectives. Candidate s are required to work closely with Product Range General Manager, Marketing Manager, Sales Manager, and Floor Sales Agents to deliver winning products, in addition to working with concerned staff across the organization to ensure revenue and customer satisfaction goals are met.
send your CV to cv@globalretailrecruitment.com
Technical Services Manager - Saudi Arabia -Electrical Retail
We are currently in search of a Technical Services Manager for a leading Saudi Retailer.
Think experience in establishing a technical customer service repair and upgrade centre with excellence in customer service.
If you have achieved in this field previously having worked in a key electrical retailer anywhere in the world send your CV to cv@globalretailrecruitment.com
Package negotiable
Think experience in establishing a technical customer service repair and upgrade centre with excellence in customer service.
If you have achieved in this field previously having worked in a key electrical retailer anywhere in the world send your CV to cv@globalretailrecruitment.com
Package negotiable
MD / CEO / President
The CEO shall be a prime driver for the creation of value for the group by interfacing its board to its operational management team. As a CEO, you will lead the Managers for Strategic Reporting to the Board of Directors, and will play a critical role in developing and implementing the strategic plan to advance the company's mission, overall vision, and objectives to promote revenue, profitability and growth.
You will provide inspirational leadership balancing the internal and external demands of this role; you will be a visible presence within the organization and be recognized externally as a courageous leader of conviction. Conversant with the operating metrics of a large group operating in diversified business segment, you will be accountable for companys financial resources and a champion of innovation in the organization.
To qualify, you will need a successful track record of running an efficient and profitable operation, growing revenues, and minimum 20 years management experience, preferably in a retail and real-estate development and construction environment. Your key focus is to grow profitable revenue and build a strong brand in and outside the kingdom of Saudi Arabia.
You should be at least of 40 years of age and possess a university degree preferably MBA in Business Administration, having strong analytical skills with fluency in Arabic and English.
You will provide inspirational leadership balancing the internal and external demands of this role; you will be a visible presence within the organization and be recognized externally as a courageous leader of conviction. Conversant with the operating metrics of a large group operating in diversified business segment, you will be accountable for companys financial resources and a champion of innovation in the organization.
To qualify, you will need a successful track record of running an efficient and profitable operation, growing revenues, and minimum 20 years management experience, preferably in a retail and real-estate development and construction environment. Your key focus is to grow profitable revenue and build a strong brand in and outside the kingdom of Saudi Arabia.
You should be at least of 40 years of age and possess a university degree preferably MBA in Business Administration, having strong analytical skills with fluency in Arabic and English.
Urgent Vacancy - CFO - Retail / FMCG / Real Estate
A Chartered Accountant with 10 or more years of experience in the related industry is sought to assume a very strategic leadership role with a leading business house. Assuming the role of Chief Financial Officer and reporting to the Group MD, the successful candidate will take on a strategic leadership role within the organization and will immerse himself with bank relations and engaging new financing with various avenues. The Chief Financial Officer assumes lead on all legal agreements related to financing and mergers & acquisitions as well as negations and reviews, financial reporting and strategic planning. He will oversee the entire finance group and while this is quite a big bill to fill; this opportunity is a great venture for a dynamic leadership type who welcomes new challenges. Fluent bilingual skills in communicating in both Arabic and English - oral presentation, written documentation - are a must as the CFO will work with clientele and stake holders throughout Saudi Arabia and MENA region.
Candidates must have a recognized accounting designation, ideally a chartered accountant with minimum 15 years post qualification experience in the related industries, in MNC or with a large local group. You should be at least 35 years of age. A solid understanding of investment strategies and financial services and strong understanding of financial risk management and oversight is also required.
Candidates must have a recognized accounting designation, ideally a chartered accountant with minimum 15 years post qualification experience in the related industries, in MNC or with a large local group. You should be at least 35 years of age. A solid understanding of investment strategies and financial services and strong understanding of financial risk management and oversight is also required.
Saturday 12 September 2009
CEO - Food Retail Required
I am currently in search of a CEO for a food retail ( Hyper / Super ) in Saudi Arabia.
The key brief is food retail executive experience with Arabic and English language fluency. CV to director@globalretailrecruitment.com.
full briefing will be discussed on shortlist.
The key brief is food retail executive experience with Arabic and English language fluency. CV to director@globalretailrecruitment.com.
full briefing will be discussed on shortlist.
Friday 11 September 2009
Arthur Ryan steps down as Primark chief executive
Primark boss Arthur Ryan will step down as chief executive of Primark from Sunday, but will remain chairman of the value fashion retailer.
Chief operating officer Paul Marchant has been promoted to chief executive. He joined Primark from New Look in January, where he was also chief operating officer.
Ryan, who founded the business as Penneys in Ireland in 1969, said: ?I am extremely proud of all that Primark has achieved. As chairman, I am looking forward to working with Paul to ensure the ongoing success and future development of the business.?
Marchant said: ?This role is one of the most exciting in international retail and I am looking forward to working with Arthur Ryan and the rest of the Primark board to build on the success of the business to date.?
George Weston, chief executive of parent company Associated British Foods said: ?Since Paul joined Primark earlier this year, he and Arthur have been working together to drive its growth. Paul will now take on day-to-day control. Arthur is the creator, driving force and inspiration behind the business and will continue to bring his enormous expertise and experience to its development in his role as chairman.?
Chief operating officer Paul Marchant has been promoted to chief executive. He joined Primark from New Look in January, where he was also chief operating officer.
Ryan, who founded the business as Penneys in Ireland in 1969, said: ?I am extremely proud of all that Primark has achieved. As chairman, I am looking forward to working with Paul to ensure the ongoing success and future development of the business.?
Marchant said: ?This role is one of the most exciting in international retail and I am looking forward to working with Arthur Ryan and the rest of the Primark board to build on the success of the business to date.?
George Weston, chief executive of parent company Associated British Foods said: ?Since Paul joined Primark earlier this year, he and Arthur have been working together to drive its growth. Paul will now take on day-to-day control. Arthur is the creator, driving force and inspiration behind the business and will continue to bring his enormous expertise and experience to its development in his role as chairman.?
British discount chain Matalan plans to open between 15-20 stores across the Middle East
British discount chain Matalan plans to open between 15-20 stores across the Middle East, its CEO told Arabian Business on Thursday.
[We] want to open at least 2-3 stores a year so there could easily be 15-20 stores in the Middle East over the next five years, Alistair McGeorge said.
On Thursday, the value fashion and homeware retailer opened its second store outside of the UK at the Arabian Center Mall in Dubai. The retailer, which has more than 200 stores across Britain, opened its first branch in Amman, Jordan in July.
Matalan opened its first store in Preston in 1985 after its founder John Hargreaves took inspiration from low-price, out-of-town discount retailers in the US. The chain has made Hargreaves one of Britain?s richest men with an estimated fortune of 330m ($545m), according to the Sunday Times Rich List 2009.
Cash-strapped customers have boosted sales in British discount stores amid the economic downturn. Matalan posted operating profits up 14 percent to 102m ($168.4m) for the year to the end of February 2009 and has plans to hire more than 1,000 new staff to cope with demand leading up to the festive season.
[We] want to open at least 2-3 stores a year so there could easily be 15-20 stores in the Middle East over the next five years, Alistair McGeorge said.
On Thursday, the value fashion and homeware retailer opened its second store outside of the UK at the Arabian Center Mall in Dubai. The retailer, which has more than 200 stores across Britain, opened its first branch in Amman, Jordan in July.
Matalan opened its first store in Preston in 1985 after its founder John Hargreaves took inspiration from low-price, out-of-town discount retailers in the US. The chain has made Hargreaves one of Britain?s richest men with an estimated fortune of 330m ($545m), according to the Sunday Times Rich List 2009.
Cash-strapped customers have boosted sales in British discount stores amid the economic downturn. Matalan posted operating profits up 14 percent to 102m ($168.4m) for the year to the end of February 2009 and has plans to hire more than 1,000 new staff to cope with demand leading up to the festive season.
Jacky's opens MoE Metro outlet
Jacky's Electronics has opened a Jacky's Express outlet at the new Mall of the Emirates (MoE) Metrolink. The new 3,000 square feet store offers various brands of notebooks, games, mobile phones, digital cameras, digital devices, LCD TVs and personal healthcare products.
Wednesday 9 September 2009
Dubai Metro launches tonight
After suffering through four years of disruption and dislocation caused by rail construction, Dubai?s residents today finally get to welcome the Metro, which many hope will make the city far more user-friendly.
Launch formalities begin at 7.45 tonight, when VIPs gather in the Galleria of the Mall of the Emirates before boarding the first train and the Metro?s Red Line is declared open by Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai.
The Roads and Transport Authority (RTA) also has high expectations. Speaking on Dubai TV last night, Mattar al Tayer, the board chairman and executive director of the RTA, said the authority expects the Metro to break even within seven years.
The RTA also expects a payoff from the Metro in better traffic conditions. Congestion costs the Dubai economy Dh5.2bn (US$1.4 bn) per year because of lost time and accidents, Mr al Tayer said, noting that Dubai today has nearly three times the number of registered vehicles as it had when the Metro project began in 2005.
Yesterday, as people began to absorb the idea that the end of the project really was in sight, some began to make plans to let the train take the strain out of their daily journeys.
?It will be great, believe me,? said Abdul Sabbah, 32, a Jordanian who commutes by car to work in Media City from his home next to Khalid bin Al Waleed Station (formerly called the Burjuman Station) in Bur Dubai. ?I?ll take it from my home in Bur Dubai to work. Why not? I can?t find parking anywhere anymore.?
full story @
http://www.thenational.ae/apps/pbcs.dll/article?AID=/20090909/NATIONAL/709089826/1001/rss
Launch formalities begin at 7.45 tonight, when VIPs gather in the Galleria of the Mall of the Emirates before boarding the first train and the Metro?s Red Line is declared open by Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai.
The Roads and Transport Authority (RTA) also has high expectations. Speaking on Dubai TV last night, Mattar al Tayer, the board chairman and executive director of the RTA, said the authority expects the Metro to break even within seven years.
The RTA also expects a payoff from the Metro in better traffic conditions. Congestion costs the Dubai economy Dh5.2bn (US$1.4 bn) per year because of lost time and accidents, Mr al Tayer said, noting that Dubai today has nearly three times the number of registered vehicles as it had when the Metro project began in 2005.
Yesterday, as people began to absorb the idea that the end of the project really was in sight, some began to make plans to let the train take the strain out of their daily journeys.
?It will be great, believe me,? said Abdul Sabbah, 32, a Jordanian who commutes by car to work in Media City from his home next to Khalid bin Al Waleed Station (formerly called the Burjuman Station) in Bur Dubai. ?I?ll take it from my home in Bur Dubai to work. Why not? I can?t find parking anywhere anymore.?
full story @
http://www.thenational.ae/apps/pbcs.dll/article?AID=/20090909/NATIONAL/709089826/1001/rss
Tesco continues to invest in Fresh & Easy
Tesco is continuing to invest in its US Fresh & Easy shops, despite it saying it had put its expansion in northern California on hold.
According to the Financial Times, Tesco opened 125 shops in southern California, Las Vegas and Phoenix over the past two years.
It said in April it was slowing the pace of store openings in existing areas and would delay its move into northern California because of the recession.
But the retailer is understood to have added almost 50 stores in communities including San Francisco, Sacramento and San Jose, and Reno, Nevada. This month it reportedly paid 2.3m for two plots in the East Bay area, and in summer it bought a third site in San Francisco.
Tesco is understood to be seeking to buy sites instead of leasing properties.
The retailer has also completed work on the structure of a distribution depot in an industrial park in Stockton that it will use to service new northern California stores.
Tesco said it was being prudent in our expansion and our plans for northern California remain on hold?.
According to the Financial Times, Tesco opened 125 shops in southern California, Las Vegas and Phoenix over the past two years.
It said in April it was slowing the pace of store openings in existing areas and would delay its move into northern California because of the recession.
But the retailer is understood to have added almost 50 stores in communities including San Francisco, Sacramento and San Jose, and Reno, Nevada. This month it reportedly paid 2.3m for two plots in the East Bay area, and in summer it bought a third site in San Francisco.
Tesco is understood to be seeking to buy sites instead of leasing properties.
The retailer has also completed work on the structure of a distribution depot in an industrial park in Stockton that it will use to service new northern California stores.
Tesco said it was being prudent in our expansion and our plans for northern California remain on hold?.
New Look to launch online TV show
Fast fashion retailer New Look is to launch a weekly online interactive TV show to be distributed by YouTube.
New Look will launch the site on September 18, using a format which allows viewers to upload their own content, comment and vote on features and visit New Look stores where filming will take place.
The channel has been created by digital agency Zone. Managing director of Zone Jon Davies said: This is a first for a big brand high street retailer and demonstrates the importance of digital interactive content in bringing the in-store experience to life online. By inviting the audience to participate instead of treating them as consumers, we can help New Look develop a long-term relationship which goes far beyond just advertising.
Melissa Loddo, online and CRM manager at New Look, said: We know that our audience enjoy creating and sharing online content and that they love New Look fashion so we wanted to offer them a way of combining both.
The show is executive produced by Hannah Springham, who has directed numerous fashion TV productions including Goks Fashion Fix, Britains Next Top Model and The Clothes Show.
By Jennifer Creevy
New Look will launch the site on September 18, using a format which allows viewers to upload their own content, comment and vote on features and visit New Look stores where filming will take place.
The channel has been created by digital agency Zone. Managing director of Zone Jon Davies said: This is a first for a big brand high street retailer and demonstrates the importance of digital interactive content in bringing the in-store experience to life online. By inviting the audience to participate instead of treating them as consumers, we can help New Look develop a long-term relationship which goes far beyond just advertising.
Melissa Loddo, online and CRM manager at New Look, said: We know that our audience enjoy creating and sharing online content and that they love New Look fashion so we wanted to offer them a way of combining both.
The show is executive produced by Hannah Springham, who has directed numerous fashion TV productions including Goks Fashion Fix, Britains Next Top Model and The Clothes Show.
By Jennifer Creevy
Harold Tillman will maintain Aquascutum?s luxury position
Jaeger boss Harold Tillman said he will maintain Aquascutum?s luxury position and sees great opportunity for the brand.
Tillman and Jaeger chief executive Belinda Earl bought Aquascutum today from Japanese owner Renown. They aim to grow the brand internationally, develop new product categories and launch a transactional website.
Tillman said: The company [Aquascutum] has had considerable investment and is an outstanding brand which punches above its weight. We plan for it to maintain a luxury position. Theres still growth in the luxury market.
The new owners said that costs will be cut by sharing back office functions with Jaeger. Earl said: We will have increased buying power and economies of scale.
Tillman and Earl added that they would begin implementing any necessary changes to manufacturing and staffing within weeks. They could not confirm which members of the Aquascutum team would stay with the new company but said they are committed to keeping Aquascutums UK factory in Corby open.
Earl added that the brand has the potential to grow its mens and womenswear offer, and added that accessories and giftwear were the categories with greatest growth potential.
Tillman and Jaeger chief executive Belinda Earl bought Aquascutum today from Japanese owner Renown. They aim to grow the brand internationally, develop new product categories and launch a transactional website.
Tillman said: The company [Aquascutum] has had considerable investment and is an outstanding brand which punches above its weight. We plan for it to maintain a luxury position. Theres still growth in the luxury market.
The new owners said that costs will be cut by sharing back office functions with Jaeger. Earl said: We will have increased buying power and economies of scale.
Tillman and Earl added that they would begin implementing any necessary changes to manufacturing and staffing within weeks. They could not confirm which members of the Aquascutum team would stay with the new company but said they are committed to keeping Aquascutums UK factory in Corby open.
Earl added that the brand has the potential to grow its mens and womenswear offer, and added that accessories and giftwear were the categories with greatest growth potential.
Regional President of Virgin Megastores, said the retailer is set to open the first in a series of basic-needs stores in select residential communities across Dubai, Gulf News has reported. The new stores will only offer essentials, such as batteries, chargers and emergency gifts, she said. 'We wouldn't sell laptops, we would sell more covers, more batteries, more chargers, toners, things that people need every day and can just come in and get it,' the retailer's regional president, Nisreen Shocair, told the daily. The first of these stores will be launched within six months.
Regional President of Virgin Megastores, said the retailer is set to open the first in a series of basic-needs stores in select residential communities across Dubai, Gulf News has reported. The new stores will only offer essentials, such as batteries, chargers and emergency gifts, she said. 'We wouldn't sell laptops, we would sell more covers, more batteries, more chargers, toners, things that people need every day and can just come in and get it,' the retailer's regional president, Nisreen Shocair, told the daily. The first of these stores will be launched within six months.
Tuesday 8 September 2009
New vacancy - Online / E-commerce Manager to ?70k tax free - KSA
My affiliation with another leading retail agency has led to an opportunity for a leading E-commerce manager to develop a brand from scratch.
If you have significant blue chip retail experience in this field send your CV to neil@globalretailrecruitment.com
If you have significant blue chip retail experience in this field send your CV to neil@globalretailrecruitment.com
Monday 7 September 2009
No News, Is it good news?
Having a quick review of the retail news this morning to post yet more interesting topics there appears to be a lack of negativity. Are we on our way out of the black hole of despair? Is the world's media struggling to find significant loss to write about within the retail sector?
Please post your thoughts on this as I am receiving strong indications from retail executives that there is some positivity out there!
Please post your thoughts on this as I am receiving strong indications from retail executives that there is some positivity out there!
Saturday 5 September 2009
Region is duty-free bright spot
The Middle East is the only region to post an increase in duty-free sales for the first half of this year, while most of the world suffered double-digit losses, according to an independent industry research firm.
Yngve Bia, the president of Generation Research, based in Sweden, said global travel retail sales in the first six months of this year fell 7.4 per cent compared with the same period last year, to US$19.9 billion (Dh73.09bn) from $21.5bn.
But sales in the Middle East rose by 2.6 per cent in that same period, partly driven by growing passenger traffic and local investments in travel and tourism infrastructure, Mr Bia said.
?The Middle East, they have been capturing market share for the past 10, 15 years,? he said. ?But now it?s quite remarkable that one region in the world has managed to record an increase when the rest of the world has suffered.?
Travel retail sales in Europe and the Asia-Pacific were the worst hit, with falls of 17.4 per cent and 18.9 per cent respectively. In Africa, sales dropped 15.6 per cent, while in the Americas the numbers fell by 8.2 per cent.
Dubai Duty Free, at Dubai International Airport, held on to its title of number one retailer in the world based on total sales in the first half, Mr Bia said.
The airport retailer, which accounts for 60 per cent of all duty-free sales in the Middle East, sold $1.1bn worth of merchandise last yearFrom January to August 18, sales at the retailer were on track with last year?s figures, said Colm McLoughlin, the managing director of Dubai Duty Free.
Sales had fallen 4 per cent in the first five months of the year, but began to recover afterwards, Mr McLoughlin said. They were up 6 per cent in May and June, and up between 7 and 8 per cent last month, he said.
Sales from January to August 18 this year totalled Dh2.4bn, down just 0.8 per cent from Dh2.41bn in the same period last year, Mr McLoughlin said.
The relatively strong sales stems from the increase of passengers, with traffic through Dubai airport up 6 per cent from January to the end of July, he said.
Mr McLoughlin said he expected Dubai Duty Free to keep its title as the top-selling travel retailer, with a sales increase of 5 per cent over last year.
?Given that our sales are almost on par with 2008 figures, I am confident that the same will hold true by the end of the year,? he said.
?The duty-free business in the region is doing well, which is encouraging for the industry as a whole.?
Duty-free retail in Abu Dhabi is also growing, with sales from January to the end of last month up 5.8 per cent compared with the same period last year, said Dan Cappell, the vice president of non-aeronautical revenue and business development at the capital?s airport.
That was despite two months when passengers arriving in Abu Dhabi?s new terminal 3 had to bypass the duty-free shops because of construction, Mr Cappell said.
Terminal 3?s new retail wing, with 2,600 square metres focusing on luxury and boosting the airport?s total duty-free area by 38 per cent, opened in April.
Mr Cappell expects the growth to continue, and is optimistic that passenger growth at Abu Dhabi?s airport will average between 8 and 9 per cent each month for the rest of the year, he said.
Mr Bia expects the remainder of the year will be tough for the rest of the world?s duty-free and travel retailers, and sales will not hit last year?s levels of $37bn.
?I think they will be about $2bn behind, which means a decrease of about 5.5 per cent,? he said. ?We will see an improvement in the second half, but that?s comparing it to an extremely poor fourth quarter last year.?
Yngve Bia, the president of Generation Research, based in Sweden, said global travel retail sales in the first six months of this year fell 7.4 per cent compared with the same period last year, to US$19.9 billion (Dh73.09bn) from $21.5bn.
But sales in the Middle East rose by 2.6 per cent in that same period, partly driven by growing passenger traffic and local investments in travel and tourism infrastructure, Mr Bia said.
?The Middle East, they have been capturing market share for the past 10, 15 years,? he said. ?But now it?s quite remarkable that one region in the world has managed to record an increase when the rest of the world has suffered.?
Travel retail sales in Europe and the Asia-Pacific were the worst hit, with falls of 17.4 per cent and 18.9 per cent respectively. In Africa, sales dropped 15.6 per cent, while in the Americas the numbers fell by 8.2 per cent.
Dubai Duty Free, at Dubai International Airport, held on to its title of number one retailer in the world based on total sales in the first half, Mr Bia said.
The airport retailer, which accounts for 60 per cent of all duty-free sales in the Middle East, sold $1.1bn worth of merchandise last yearFrom January to August 18, sales at the retailer were on track with last year?s figures, said Colm McLoughlin, the managing director of Dubai Duty Free.
Sales had fallen 4 per cent in the first five months of the year, but began to recover afterwards, Mr McLoughlin said. They were up 6 per cent in May and June, and up between 7 and 8 per cent last month, he said.
Sales from January to August 18 this year totalled Dh2.4bn, down just 0.8 per cent from Dh2.41bn in the same period last year, Mr McLoughlin said.
The relatively strong sales stems from the increase of passengers, with traffic through Dubai airport up 6 per cent from January to the end of July, he said.
Mr McLoughlin said he expected Dubai Duty Free to keep its title as the top-selling travel retailer, with a sales increase of 5 per cent over last year.
?Given that our sales are almost on par with 2008 figures, I am confident that the same will hold true by the end of the year,? he said.
?The duty-free business in the region is doing well, which is encouraging for the industry as a whole.?
Duty-free retail in Abu Dhabi is also growing, with sales from January to the end of last month up 5.8 per cent compared with the same period last year, said Dan Cappell, the vice president of non-aeronautical revenue and business development at the capital?s airport.
That was despite two months when passengers arriving in Abu Dhabi?s new terminal 3 had to bypass the duty-free shops because of construction, Mr Cappell said.
Terminal 3?s new retail wing, with 2,600 square metres focusing on luxury and boosting the airport?s total duty-free area by 38 per cent, opened in April.
Mr Cappell expects the growth to continue, and is optimistic that passenger growth at Abu Dhabi?s airport will average between 8 and 9 per cent each month for the rest of the year, he said.
Mr Bia expects the remainder of the year will be tough for the rest of the world?s duty-free and travel retailers, and sales will not hit last year?s levels of $37bn.
?I think they will be about $2bn behind, which means a decrease of about 5.5 per cent,? he said. ?We will see an improvement in the second half, but that?s comparing it to an extremely poor fourth quarter last year.?
Carrefour post $58 Million Loss
French supermarket giant Carrefour, ranked world number two, said today it had slipped into the red for the first half of the year. Although in difficult times the firm still confirmed its 2009 earnings targets.
The company, second only to Wal-Mart of the United States, posted a net loss of ?58 million (Dh305.68m) in the six months to June after taking exceptional charges of ?511m.
Operating profit fell 27.6 per cent from a year earlier to ?1.01 billion.
The results reflect both a difficult environment and the company?s strategic choices as it positions itself going ahead, said finance director Pierre Bouchut.
If the exceptional charges were stripped out, net earnings were down 42.4 per cent to ?415m, Carrefour said.
Analyst forecasts had been for a net profit of around ?100m after exceptional charges of ?550m.
Carrefour, which has 11 stores in the UAE, said it still expected a 2009 operating profit before exceptional items of ?2.7 - 2.8bn if current trends and sales continued.
It also confirmed its target to secure cost savings of ?4.5bn by 2012, with ?212m achieved in the first half this yearCarrefour said sales had held up well in the six months, with revenue down 1.6 per cent from a year earlier but up 1.9 per cent if fuel, exchange effects and seasonal-adjustments were taken into account.
?We are a good way towards achieving our 2009 objectives, towards carrying out our transformation plan,? the Carrefour head Lars Olofsson said.
source- thenational.ae
The company, second only to Wal-Mart of the United States, posted a net loss of ?58 million (Dh305.68m) in the six months to June after taking exceptional charges of ?511m.
Operating profit fell 27.6 per cent from a year earlier to ?1.01 billion.
The results reflect both a difficult environment and the company?s strategic choices as it positions itself going ahead, said finance director Pierre Bouchut.
If the exceptional charges were stripped out, net earnings were down 42.4 per cent to ?415m, Carrefour said.
Analyst forecasts had been for a net profit of around ?100m after exceptional charges of ?550m.
Carrefour, which has 11 stores in the UAE, said it still expected a 2009 operating profit before exceptional items of ?2.7 - 2.8bn if current trends and sales continued.
It also confirmed its target to secure cost savings of ?4.5bn by 2012, with ?212m achieved in the first half this yearCarrefour said sales had held up well in the six months, with revenue down 1.6 per cent from a year earlier but up 1.9 per cent if fuel, exchange effects and seasonal-adjustments were taken into account.
?We are a good way towards achieving our 2009 objectives, towards carrying out our transformation plan,? the Carrefour head Lars Olofsson said.
source- thenational.ae
Friday 4 September 2009
Dubai, Abu Dhabi gold retail sales take a hit in Aug
Gold jewellery sales in Dubai fell around 30 percent in August, compared with a year earlier, as high gold prices and an economic downturn deterred buyers, retailers said on Thursday.
Dubai's gold retailers are seeing sale volumes drop as prices of the metal are boosted by institutional funds seeking a safe haven for their assets during the global economic slowdown.
"Our sales in August have dropped by around 30 percent from last year because the price of gold is too high for (retail) consumers during this crisis," said Sanjay Brahatti, co-owner of Al Khaledyah Jewellery, which is based in Dubai's old gold souk and has five branches.
"And if things continue like this over the coming two months, we are thinking about cutting down the number of branches to ease costs," he said.
full story at :
http://www.arabianbusiness.com/566717-dubai-gold-sales-drop-as-price-remains-high---trade
Dubai's gold retailers are seeing sale volumes drop as prices of the metal are boosted by institutional funds seeking a safe haven for their assets during the global economic slowdown.
"Our sales in August have dropped by around 30 percent from last year because the price of gold is too high for (retail) consumers during this crisis," said Sanjay Brahatti, co-owner of Al Khaledyah Jewellery, which is based in Dubai's old gold souk and has five branches.
"And if things continue like this over the coming two months, we are thinking about cutting down the number of branches to ease costs," he said.
full story at :
http://www.arabianbusiness.com/566717-dubai-gold-sales-drop-as-price-remains-high---trade
Thursday 3 September 2009
Divisional Manager - Furniture
Divisional manager required to 2500 BD. Furniture and regional experience a must.
CV's to neil@globalretailrecruitment.com
CV's to neil@globalretailrecruitment.com
Wednesday 2 September 2009
Al-Futtaim to build mall in Doha
Dubai-based developer Al-Futtaim Group plans to build a multi-billion dollar shopping mall in Doha, Meed has reported. The group is currently negotiating with a Doha landowner to purchase a site for the development, which would house a mall with 250 different retail outlets and 10 or more residential towers. The Qatar development would be the fourth major retail and residential project in the region from the group, following developments in Egypt, Morocco, and the UAE.
New M & S Cheif Exec
Marks & Spencer is on the verge of appointing a headhunter to begin its search for a new chief executive to replace Sir Stuart Rose next year.
The retailer has had a number of calls from other headhunters wanting to act for M&S as it seeks to address its succession issues.
M&S hopes to appoint a new chief executive by next summer, meaning the search must begin this autumn. It is considering international and external candidates to success Rose.
Rose will to step down from the role by July 2011.
Contenders for the chief executive position include M&S?s director of food John Dixon, its finance director Ian Dyson, Asda?s Andy Bond and Sainsbury?sJustin King.
It is also thought M&S may be looking at a broader range of retail bosses, including HMV?s Simon Fox, who was last month in the running for the role of chief executive of broadcaster ITV, before he ruled himself out.
The retailer has had a number of calls from other headhunters wanting to act for M&S as it seeks to address its succession issues.
M&S hopes to appoint a new chief executive by next summer, meaning the search must begin this autumn. It is considering international and external candidates to success Rose.
Rose will to step down from the role by July 2011.
Contenders for the chief executive position include M&S?s director of food John Dixon, its finance director Ian Dyson, Asda?s Andy Bond and Sainsbury?sJustin King.
It is also thought M&S may be looking at a broader range of retail bosses, including HMV?s Simon Fox, who was last month in the running for the role of chief executive of broadcaster ITV, before he ruled himself out.
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