Thursday, 27 August 2009
Vacancies today
Is currently working on Retail - CFO & COO fashion in Saudi Arabia. Store Manager Hypermarkets in Saudi Arabia & FD in Abu Dhabi - construction.
Wednesday, 26 August 2009
New vacancy - Abu Dhabi
Position for Head of Finance / Financial controller in Abu Dhabi. Leading company, must have 10 + years senior financial and experience in Construction.
Cv to neil@globalretailrecruitment.com
Cv to neil@globalretailrecruitment.com
Tuesday, 25 August 2009
UAE retail sales to accelerate
United Arab Emirates
According to the latest retail report by the UK-based Business Monitor International (BMI), retail sales in the UAE are forecast to grow by 59% by 2013. It estimates retail spending in the country will rise to almost $165bn (Dhs606bn) by 2013 from $103.5bn in 2008. Elsewhere in the Gulf, retails sales are also expected to grow over the same period, with Saudi Arabia up 25%, Bahrain up 11% and Kuwait up 31%.
According to the latest retail report by the UK-based Business Monitor International (BMI), retail sales in the UAE are forecast to grow by 59% by 2013. It estimates retail spending in the country will rise to almost $165bn (Dhs606bn) by 2013 from $103.5bn in 2008. Elsewhere in the Gulf, retails sales are also expected to grow over the same period, with Saudi Arabia up 25%, Bahrain up 11% and Kuwait up 31%.
Carrefour China To Invest CNY60 Million In Energy Conservation
According to a representative from the asset engineering department of Carrefour China, the French-headquartered retailer plans to invest between CNY50 million and CNY60 million in energy-saving renovation in its Chinese outlets in 2010.
The representative said energy-saving renovation and construction have recently become major issues for traditional retail enterprises. Over two years of energy-saving renovation, Carrefour's energy consumption was reduced significantly in 2008 compared with the situation in 2005 and yielded savings of about CNY100 million.
It is said that Carrefour's main area of energy consumption are lighting, air-conditioning, and refrigeration. Currently, it has 139 outlets in China and all these stores are undergoing energy-saving renovations by implementing new technologies and enhancing energy management.
The goal for these Carrefour stores is to reduce energy consumption by over 10% in 2009.
by www.chinaretailnews.com
The representative said energy-saving renovation and construction have recently become major issues for traditional retail enterprises. Over two years of energy-saving renovation, Carrefour's energy consumption was reduced significantly in 2008 compared with the situation in 2005 and yielded savings of about CNY100 million.
It is said that Carrefour's main area of energy consumption are lighting, air-conditioning, and refrigeration. Currently, it has 139 outlets in China and all these stores are undergoing energy-saving renovations by implementing new technologies and enhancing energy management.
The goal for these Carrefour stores is to reduce energy consumption by over 10% in 2009.
by www.chinaretailnews.com
Monday, 24 August 2009
Focus wins backing for CVA
24 August, 2009 | By Nicola Harrison - Retail -Week.com
The future of embattled DIY group Focus has been secured after creditors today supported a proposal for a company voluntary arrangement (CVA).
At a meeting held this afternoon in London, more than 99% of creditors voted to pass the CVA on one set of votes for three interlocking companies relating to Focus DIY. On the remaining vote, for stores under the Payless company name, creditors voted 93% in favour.
Securing the CVA means the retailer?s banks will now renew its two-year revolving credit facility. 75% of creditors have to approve the terms for a CVA for it to be passed.
Focus chief executive Bill Grimsey said: ?We?re all relieved and pleased the creditors have supported us in this way. Now we can get back to trading, we?ll be a formidable competitor in DIY. We?re here to fight another day.?
He added that the DIY retailer?s 4,700 staff will be ?absolutely overjoyed? at the move, which has secured their jobs.
The retailer?s banks had insisted on Focus dealing with its so-called dark store situation ? 38 non-trading stores that drained the retailer of ?12m a year. 16 of the 38 stores have sub-tenants, while 22 lie completely empty.
As a result of the CVA, Focus will now save ?8.6m of the ?12m annual cost.
Under the terms of the CVA, Focus will not pay rent, service charges and insurance on the stores. In return, the landlords will receive a share of a ?3.7m compensation fund, paid in two equal parts next year.
Focus will continue to pay business rates on the properties until the landlord surrenders the lease or assigns it.
The majority of Focus?s landlords are already accepting monthly rent payments, but as part of the CVA, all Focus?s remaining landlords will also move to monthly rent payment for the next 18 months.
The retailer will return to quarterly payments after this period.
The future of embattled DIY group Focus has been secured after creditors today supported a proposal for a company voluntary arrangement (CVA).
At a meeting held this afternoon in London, more than 99% of creditors voted to pass the CVA on one set of votes for three interlocking companies relating to Focus DIY. On the remaining vote, for stores under the Payless company name, creditors voted 93% in favour.
Securing the CVA means the retailer?s banks will now renew its two-year revolving credit facility. 75% of creditors have to approve the terms for a CVA for it to be passed.
Focus chief executive Bill Grimsey said: ?We?re all relieved and pleased the creditors have supported us in this way. Now we can get back to trading, we?ll be a formidable competitor in DIY. We?re here to fight another day.?
He added that the DIY retailer?s 4,700 staff will be ?absolutely overjoyed? at the move, which has secured their jobs.
The retailer?s banks had insisted on Focus dealing with its so-called dark store situation ? 38 non-trading stores that drained the retailer of ?12m a year. 16 of the 38 stores have sub-tenants, while 22 lie completely empty.
As a result of the CVA, Focus will now save ?8.6m of the ?12m annual cost.
Under the terms of the CVA, Focus will not pay rent, service charges and insurance on the stores. In return, the landlords will receive a share of a ?3.7m compensation fund, paid in two equal parts next year.
Focus will continue to pay business rates on the properties until the landlord surrenders the lease or assigns it.
The majority of Focus?s landlords are already accepting monthly rent payments, but as part of the CVA, all Focus?s remaining landlords will also move to monthly rent payment for the next 18 months.
The retailer will return to quarterly payments after this period.
Saturday, 22 August 2009
Saudi Arabia tops in new retail arrivals
?Middle East countries have seen a marked increase in the number of new retailers entering the region and have dominated the top-five world rankings, with Kuwait in second place and the UAE fourth,? says the report titled. Serbia and Indonesia ranked third and fifth, respectively.
World's top mall woos Gulf, emerging market shoppers
Sales picked up sharply at the world's largest mall in Dubai in the last two months as tourists from emerging markets seized on bargains, though turnover remains below expectations, retailers say.
The Dubai Mall opened in November as the financial crisis swept the globe, sending consumer confidence into freefall as the Gulf stood on the cusp of an economic recession. It is part of a $20bn development by Emaar Properties and houses some 900 stores as well as an ice rink and aquarium.
Retailers had braced for a slow summer after a dismal first half of the year which saw sales plunge around 30 percent.
"We are seeing a pick up in sales and more foot-fall," said Rahul Jadhav, system store manager at luxury brand Cartier, adding sales were up "20-30 percent since March."
Jadhav said tourists mainly from the Gulf Arab region and China have made up most of the customers at the branch.
Expensive tastes for designer clothes and luxury items accompanied the Dubai boom and attracted more brand name shops than in many Western shopping capitals.
The emirate, which built itself as a regional fashion hub, has more than 40 malls and attracts more tourists per year than any Arab country outside of Egypt. It hosts an annual shopping festival that brings in two million visitors. The retail sector contributes about a third of economic output.
The slump has kept regional tourists closer to home this year, opting for inter-Gulf travel as opposed to further afield, while an uptick in visitors from China has underpinned spending at the mall.
Chinese guests staying at Dubai hotels were up 14 percent in the first quarter of 2009 compared with a year earlier, according to latest data from Dubai's tourism department.
Hunter International Tourism, one of China's largest travel agencies which has a Dubai office, estimates a 30 percent increase in Chinese tourists to the UAE in May and June compared to the two previous months.
The number of attractions at the Dubai Mall - as well as high leasing costs - has prompted some retailers to complain the mall is more a sightseeing destination than a shopping one.
"Tourism has dropped, the resident population is shopping less and times are difficult," said Nilesh Khalkho, chief executive of electronics retailer Sharaf DG. "The mall needs to be more aggressive in differentiating itself.
Operating costs are high and sales are not "performing up to the mark", said Khalkho, adding that foot-fall still needed to increase to stimulate buying.
Jacky's Electronics, another regional retailer, said although sales picked up 25-28 percent in the last two months, they were 60 percent below expectations prior to the opening.
Retailers at Dubai Mall must also cope with rental contracts signed at the peak of Dubai's property boom, before the meltdown last fall.
Retail analyst Laurent-Patrick Gally at Shuaa Capital said there might be adjustments to rents at the emirate's malls as new retail space comes on stream next year.
He also said there may be a flipside to the increase in spending during the summer, as it might mean less spending towards the end of the year.
"We expect a pick up on a year-to-year basis in the first quarter of 2010 versus the first quarter of 2009, instead of our previous assumption of a pick up in the fourth quarter this year versus the same period last year," said Gally. (Reuters)
The Dubai Mall opened in November as the financial crisis swept the globe, sending consumer confidence into freefall as the Gulf stood on the cusp of an economic recession. It is part of a $20bn development by Emaar Properties and houses some 900 stores as well as an ice rink and aquarium.
Retailers had braced for a slow summer after a dismal first half of the year which saw sales plunge around 30 percent.
"We are seeing a pick up in sales and more foot-fall," said Rahul Jadhav, system store manager at luxury brand Cartier, adding sales were up "20-30 percent since March."
Jadhav said tourists mainly from the Gulf Arab region and China have made up most of the customers at the branch.
Expensive tastes for designer clothes and luxury items accompanied the Dubai boom and attracted more brand name shops than in many Western shopping capitals.
The emirate, which built itself as a regional fashion hub, has more than 40 malls and attracts more tourists per year than any Arab country outside of Egypt. It hosts an annual shopping festival that brings in two million visitors. The retail sector contributes about a third of economic output.
The slump has kept regional tourists closer to home this year, opting for inter-Gulf travel as opposed to further afield, while an uptick in visitors from China has underpinned spending at the mall.
Chinese guests staying at Dubai hotels were up 14 percent in the first quarter of 2009 compared with a year earlier, according to latest data from Dubai's tourism department.
Hunter International Tourism, one of China's largest travel agencies which has a Dubai office, estimates a 30 percent increase in Chinese tourists to the UAE in May and June compared to the two previous months.
The number of attractions at the Dubai Mall - as well as high leasing costs - has prompted some retailers to complain the mall is more a sightseeing destination than a shopping one.
"Tourism has dropped, the resident population is shopping less and times are difficult," said Nilesh Khalkho, chief executive of electronics retailer Sharaf DG. "The mall needs to be more aggressive in differentiating itself.
Operating costs are high and sales are not "performing up to the mark", said Khalkho, adding that foot-fall still needed to increase to stimulate buying.
Jacky's Electronics, another regional retailer, said although sales picked up 25-28 percent in the last two months, they were 60 percent below expectations prior to the opening.
Retailers at Dubai Mall must also cope with rental contracts signed at the peak of Dubai's property boom, before the meltdown last fall.
Retail analyst Laurent-Patrick Gally at Shuaa Capital said there might be adjustments to rents at the emirate's malls as new retail space comes on stream next year.
He also said there may be a flipside to the increase in spending during the summer, as it might mean less spending towards the end of the year.
"We expect a pick up on a year-to-year basis in the first quarter of 2010 versus the first quarter of 2009, instead of our previous assumption of a pick up in the fourth quarter this year versus the same period last year," said Gally. (Reuters)
Food prices in UAE head skywards
UAE daily Gulf news said an expected shortage in rice would send prices sky-high, with Pakistani rice suppliers threatening to reduce exports if prices are not increased to match Indian products.
The price of cooking oil has risen by 80%, Indian mutton by more than 100%, while cooking gas has increased by 30%, the newspaper said, adding that residents had been forced to shop for groceries in more affordable neighbouring countries.
Meanwhile, Saudi Arabia said it would withdraw subsidies from rice importers if prices continue to increase without good reason.
The price of cooking oil has risen by 80%, Indian mutton by more than 100%, while cooking gas has increased by 30%, the newspaper said, adding that residents had been forced to shop for groceries in more affordable neighbouring countries.
Meanwhile, Saudi Arabia said it would withdraw subsidies from rice importers if prices continue to increase without good reason.
Retail sales 3.3 per cent higher than in July 2008
The volume of retail sales in July 2009 rose by 3.3 per cent compared with the same month in 2008.
Total sales volume in the three months to July was 1.6 per cent higher than the same period a year ago. Sales volume for predominantly food stores increased by 1.4 per cent, the highest increase since 2007.
Predominantly non-food stores increased by 1.0 per cent. Within predominantly non-food stores, non-specialised stores rose by 4.9 per cent and textile, clothing and footwear stores rose by 7.3 per cent, driven by clothing. Household goods stores decreased by 5.5 per cent, driven by furniture and hardware stores. Other stores fell 1.5 per cent, this is the lowest along with May 2009 and May 2003, since October 1995.
Non-store retailing and repair increased by 9.0 per cent.
Sales volume in the three months May to July 2009 increased by 1.2 per cent when compared to the previous three months. Three-monthly growth increased by 1.3 per cent for predominantly food stores while predominantly non-food stores increased by 1.1 per cent. Within predominantly non-food stores, all sectors showed growth apart from other stores, which decreased by 0.2 per cent. The largest increase was in non-specialised stores at 1.9 per cent. Non-store retailing and repair increased by 1.9 per cent.
Year on year, the volume of retail sales in July was 3.3 per cent higher than in July 2008. Predominantly food stores increased by 2.0 per cent compared to the same period a year ago. Predominantly non-food stores increased by 3.4 per cent. Within predominantly non-food stores, non-specialised stores increased by 5.6 per cent and textile, clothing and footwear stores increased by 10.3 per cent, driven by clothing.Household goods stores decreased by 1.3 per cent, driven by hardware
stores. Non-store retailing and repair increased by 12.9 per cent.
Between June and July, total sales volume increased by 0.4 per cent. Predominantly food stores decreased by 1.0 per cent. Predominantly non-food stores increased by 1.1 per cent. Within predominantly non-food stores, other stores increased by 1.1 per cent and household goods stores increased by 4.5 per cent, driven by furniture and electrical stores, this is the highest since August 2006. Non-specialised stores and textile, clothing and footwear stores both decreased by 0.4 per
cent. Non-store retailing and repair increased by 3.1 per cent. The seasonally adjusted value of retail sales for the three months to July was 1.4 per cent higher than the same period a year earlier and July 2009 was 2.6 per cent higher than in July 2008.
from The Retail Bulletin.com
Total sales volume in the three months to July was 1.6 per cent higher than the same period a year ago. Sales volume for predominantly food stores increased by 1.4 per cent, the highest increase since 2007.
Predominantly non-food stores increased by 1.0 per cent. Within predominantly non-food stores, non-specialised stores rose by 4.9 per cent and textile, clothing and footwear stores rose by 7.3 per cent, driven by clothing. Household goods stores decreased by 5.5 per cent, driven by furniture and hardware stores. Other stores fell 1.5 per cent, this is the lowest along with May 2009 and May 2003, since October 1995.
Non-store retailing and repair increased by 9.0 per cent.
Sales volume in the three months May to July 2009 increased by 1.2 per cent when compared to the previous three months. Three-monthly growth increased by 1.3 per cent for predominantly food stores while predominantly non-food stores increased by 1.1 per cent. Within predominantly non-food stores, all sectors showed growth apart from other stores, which decreased by 0.2 per cent. The largest increase was in non-specialised stores at 1.9 per cent. Non-store retailing and repair increased by 1.9 per cent.
Year on year, the volume of retail sales in July was 3.3 per cent higher than in July 2008. Predominantly food stores increased by 2.0 per cent compared to the same period a year ago. Predominantly non-food stores increased by 3.4 per cent. Within predominantly non-food stores, non-specialised stores increased by 5.6 per cent and textile, clothing and footwear stores increased by 10.3 per cent, driven by clothing.Household goods stores decreased by 1.3 per cent, driven by hardware
stores. Non-store retailing and repair increased by 12.9 per cent.
Between June and July, total sales volume increased by 0.4 per cent. Predominantly food stores decreased by 1.0 per cent. Predominantly non-food stores increased by 1.1 per cent. Within predominantly non-food stores, other stores increased by 1.1 per cent and household goods stores increased by 4.5 per cent, driven by furniture and electrical stores, this is the highest since August 2006. Non-specialised stores and textile, clothing and footwear stores both decreased by 0.4 per
cent. Non-store retailing and repair increased by 3.1 per cent. The seasonally adjusted value of retail sales for the three months to July was 1.4 per cent higher than the same period a year earlier and July 2009 was 2.6 per cent higher than in July 2008.
from The Retail Bulletin.com
Thursday, 20 August 2009
Retail group says Dubai festival sales up 17%
Total sales at this year?s Dubai Summer Surprises (DSS) shopping festival rose just 17 percent, failing to keep pace with the increase in the city?s gross leasable area (GLA) following the opening of record-sized The Dubai Mall.
When all its stores have opened, The Dubai Mall alone will have added around 23 percent to Dubai?s gross leasable area (GLA), which stood at roughly 1.5m sq m at the time of the opening in November last year, according to CB Richard Ellis (CBRE).
However, the phased opening of the mall means only around 75 percent of all outlets are currently open, Emaar Retail said on Thursday.
DSMG did not break out figures for summer sales at malls that have been open for a year or more.
Still, DSMG chairman Majid Al Ghurair said footfall, or the number of visitors, had ?surpassed all expectations?.
DSS sales rose 17 percent from the previous year, according to data from 23 Dubai malls compiled by the Dubai Shopping Malls Group (DSMG).
But sales were boosted by the opening of The Dubai Mall, which bills itself as the largest mall in the world, and local shopping centres Arabian Centre, Dubai Marina Mall and Oasis Centre.
Major retailers have told Arabian Business that sales at this year?s DSS were down by up to 35 percent despite deep discounting at many chains.
by Soren BillingThis email address is being protected from spam bots, you need Javascript enabled to view it on Thursday, 20 August 2009
When all its stores have opened, The Dubai Mall alone will have added around 23 percent to Dubai?s gross leasable area (GLA), which stood at roughly 1.5m sq m at the time of the opening in November last year, according to CB Richard Ellis (CBRE).
However, the phased opening of the mall means only around 75 percent of all outlets are currently open, Emaar Retail said on Thursday.
DSMG did not break out figures for summer sales at malls that have been open for a year or more.
Still, DSMG chairman Majid Al Ghurair said footfall, or the number of visitors, had ?surpassed all expectations?.
DSS sales rose 17 percent from the previous year, according to data from 23 Dubai malls compiled by the Dubai Shopping Malls Group (DSMG).
But sales were boosted by the opening of The Dubai Mall, which bills itself as the largest mall in the world, and local shopping centres Arabian Centre, Dubai Marina Mall and Oasis Centre.
Major retailers have told Arabian Business that sales at this year?s DSS were down by up to 35 percent despite deep discounting at many chains.
by Soren BillingThis email address is being protected from spam bots, you need Javascript enabled to view it on Thursday, 20 August 2009
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Is this scalability, cost, unlimited upgrades etc
I am keen to see your comments.
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I am keen to see your comments.
Areej Expands
Areej, the perfume and cosmetic retail chain, has launched its first two new stores in Saudi Arabia, at Riyadh Gallery and Dhahran Mall. The two stores offer a wide collection of international brands including Dior, Guerlain, Chanel, Lancome Yves Saint Laurent, Givenchy, Clarins, Estee Lauder, Clinique, La Prairie, Calvin Klein, Tom Ford and Armani. The two new outlets bring the total number of Areej stores across the Middle East to 17.
Wednesday, 19 August 2009
Sustaining a Global Recovery
The recovery has started. Sustaining it will require delicate rebalancing acts, both within and across countries
In normal recessions, however disruptive they are to businesses and jobs, things turn around predictably. The current global recession is far from normal.
Usually, to fight a recession, the central bank lowers interest rates, which results in increased demand and output. People resume buying durable goods such as appliances and cars. Firms start delayed investment projects. Often, an exchange rate depreciation gives a boost to exports by making them cheaper. The lower-than-normal growth during the recession gives way to higher-than-normal growth for some time, until the economy has returned to its normal growth path.
But the world is not in a run-of-the mill recession. The turnaround will not be simple. The crisis has left deep scars, which will affect both supply and demand for many years to come.
http://www.imf.org/external/pubs/ft/fandd/2009/09/blanchardindex.htm
In normal recessions, however disruptive they are to businesses and jobs, things turn around predictably. The current global recession is far from normal.
Usually, to fight a recession, the central bank lowers interest rates, which results in increased demand and output. People resume buying durable goods such as appliances and cars. Firms start delayed investment projects. Often, an exchange rate depreciation gives a boost to exports by making them cheaper. The lower-than-normal growth during the recession gives way to higher-than-normal growth for some time, until the economy has returned to its normal growth path.
But the world is not in a run-of-the mill recession. The turnaround will not be simple. The crisis has left deep scars, which will affect both supply and demand for many years to come.
http://www.imf.org/external/pubs/ft/fandd/2009/09/blanchardindex.htm
Doha Sooq agrees Jumbo tie-in
Doha Sooq, Doha Bank?s e-mall, has announced a tie-up with Jumbo Electronics, a member of Ahmed Bin Said Al Thani & Partners, to meet the increasing demand of Doha residents who are switching over to web-shopping, the Peninsula has reported. The new partnership will increase Jumbo Electronics' sales according to Ranjith Philip Abraham of Jumbo Electronics.
Jessops like-for-likes down 4.7%
Jessops has reported like-for-like sales down 4.7% in the 12 weeks ending August 16, against the continuing difficult retail environment.
In a trading update today, Jessops said trade has remained broadly similar to that reported in its interim results for the six months to March 31, which showed like-for-likes down 4.5%. For the eight weeks ending May 24 like-for-likes were down 3.6%.
The board said it continues to expect the business to report a loss before non-recurring charges and taxation for the year.
It also continues to engage with its advisers and bankers HSBC to put the business on a more stable footing, including discussions on a fundamental restructuring of its debt.
It said: ?Discussions with HSBC continue working towards a solvent solution. However, as previously announced, due to the historic high level of debt, the board believes that it is unlikely that any value will be attributed to shareholders.?
The retailer has also decided to change the group?s year end from September 30 to November 30.
In a trading update today, Jessops said trade has remained broadly similar to that reported in its interim results for the six months to March 31, which showed like-for-likes down 4.5%. For the eight weeks ending May 24 like-for-likes were down 3.6%.
The board said it continues to expect the business to report a loss before non-recurring charges and taxation for the year.
It also continues to engage with its advisers and bankers HSBC to put the business on a more stable footing, including discussions on a fundamental restructuring of its debt.
It said: ?Discussions with HSBC continue working towards a solvent solution. However, as previously announced, due to the historic high level of debt, the board believes that it is unlikely that any value will be attributed to shareholders.?
The retailer has also decided to change the group?s year end from September 30 to November 30.
EMKE Group plans to invest Dh1.5 Billion / £250 Million in 18 months
EMKE Group, one of the largest retail chains in the Gulf region, has finalised its plans to expand its customer reach across Abu Dhabi by investing Dh1.5 billion in the next 18-months.
The next phase of expansion involves opening of seven new shopping malls and hypermarkets in the emirate of Abu Dhabi alone — a plan which will be completed by the end of 2010,
In an interview with Khaleej Times, Yusuffali MA, Managing Director of Abu Dhabi-based EMKE Group, who is also on the board of the Abu Dhabi Chamber of Commerce and Industry, said that he had strong faith in the economic vision of Abu Dhabi government and does not see any need to slow down or rethink on th group’s expansion plans.
He termed the current market turmoil as a temporary economic phenomena. “A strong group like us will become ever more stronger during these tough times,” he said.
The group recently opened Lulu Express Supermarket and Mazyad Mall in Mohammed Bbin Zayed City ?in Abu Dhabi.
According to GRC, a market research consultancy, Lulu Hypermarket has 32 per cent market share in GCC region’s organised grocery retail sector. In the UAE, the group has 43 per cent market share with a $2.1 billion sales turnover at the end of 2008.
“We are also looking for new locations to expand our Lulu Express concept, especially in upcoming residential suburbs,” Yusuffali said.
The group, which already has strong market presence in the capital, operates popular shopping malls Khalidiya Mall, Al Wahda Mall, Al Raha Mall and Madinat Zayed Shopping Center. “Burjeeel Mall in Abu Dhabi, is a new shopping mall that will be added to our portfolio very soon,” he said.
He said that 45 per cent work is completed on the Central Fish & Vegetable Market, a shopping mall project, which is group’s most ambitious project ?in Abu Dhabi.
The project is being developed in association with Mubadala Development Company, and includes about 200-fish, meat and vegetables shops on the ground floor, while the upper floors will house more than 200 branded stores and boutiques.
He said that the unique point of the shopping mall will be specialty seafood restaurants representing tastes and cuisines from around the world.
Located on the new airport road the shopping centre will have easy access and parking facility for more than ?3,000 cars.
Elaborating further, Yusuffali said that his group is now renovating and expanding the prestigious Madinat Zayed Shopping Centre and Gold Souk in the city centre to add another 300,000 square feet of retail space, which will bring in a new hypermarket apart from food courts, restaurants, family entertainment centres and branded stores.
“Now our focus will be on expanding to the Western and Eastern regions of Abu Dhabi as we believe that these regions are going to see a lot of development and we should be closer to the residents there rather than they coming to us,” Yusuffali said.
Other projects to be completed and launched this year include hypermarkets and shopping malls in Abu Dhabi, Al Ain, Dubai, RAK, Doha, Al Khobar, Jeddah, Riyadh, Kuwait, Bahrain and Oman, he added. ?
29/Jun/2009
Khaleej Times
Tuesday, 18 August 2009
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UK news- H&M like-for-like sales fall 3 per cent in July
Sales at H&M fell 3 per cent on a like-for-like basis in July compared to a 3 per cent increase for the same month last year.
Total sales for the Swedish fashion group grew 7 per cent in local currencies for the month.
?This is slightly worse than expected but no drama,? one analyst told Reuters. ?H&M is not as active as its competitors when it comes to markdowns, which is bad for like-for-like sales but good for margins.?
Total sales for the Swedish fashion group grew 7 per cent in local currencies for the month.
?This is slightly worse than expected but no drama,? one analyst told Reuters. ?H&M is not as active as its competitors when it comes to markdowns, which is bad for like-for-like sales but good for margins.?
10 new shops set to open in MoE metro expansion
Mall of the Emirates on Monday unveiled its new Dubai Metro expansion plan, which will enable visitors using the Metro to start shopping from the minute they step off the train.
Ten new stores are to open along the link between Mall of the Emirates and its Metro station, which will transport passengers using a covered air conditioned travellator system, or moving walkway.
Seven new retailers, Home Sweet Home, Emax, E-City, Paperchase, Borders Express, Cold Stone Creamery and Nokia, will open their first stores in the mall, while remittance firm UAE Exchange will open their second outlet, and two existing retailers, Jacky?s and Better Life, are to relocate their shops. UK stationer Paperchase will launch its express store format in the UAE market, while Nokia will be opening the world?s first Evo Nokia store.
US bookstore chain Borders will introduce its first Borders Express metro station format store, which will cater to the everyday needs of commuters.
Ten new stores are to open along the link between Mall of the Emirates and its Metro station, which will transport passengers using a covered air conditioned travellator system, or moving walkway.
Seven new retailers, Home Sweet Home, Emax, E-City, Paperchase, Borders Express, Cold Stone Creamery and Nokia, will open their first stores in the mall, while remittance firm UAE Exchange will open their second outlet, and two existing retailers, Jacky?s and Better Life, are to relocate their shops. UK stationer Paperchase will launch its express store format in the UAE market, while Nokia will be opening the world?s first Evo Nokia store.
US bookstore chain Borders will introduce its first Borders Express metro station format store, which will cater to the everyday needs of commuters.
UAE clampdown to prevent Ramadan price hikes
Inspectors will increase the number of visits to UAE food retailers during Ramadan to ensure prices are kept low in the holy month.
The Ministry of Economy (MoE) has warned suppliers they will face legal action if prices of basic food items are hiked.
"The MoE has instructed price supervision committees formed by the ministry office in each emirate and other local authorities to conduct field visits around the clock,? said Mohammed Ahmed Bin Abdul Aziz Al Shihhi, director general of the MoE.
?We are keen to place controllers in fruit and vegetable's markets to prevent monopoly and any price manipulation and to ensure the implementation of the relevant Federal laws."
Officials have also agreed with suppliers of rice, meat, chicken, wheat, oil, juices and dairy products to stabilise prices during Ramadan.
The move is part of a wider awareness campaign to educate people against price manipulation and hoarding food during the holy month.
?We have agreed with all concerned parties to join hands to avoid any manipulation of prices, and we have already established censorship team works in cooperation with the ministry?s offices in each emirate to closely monitor the sale of meat, vegetables, fish and chicken at all major retail outlets,? Al Shihhi said.
?We will also coordinate awareness campaigns before and during Ramadan to inform consumers on the availability of commodities. This is to avoid the tendency to make rush purchases before and after the holy month.
?There will be special lectures for the team to guide consumers on the best ways to monitor the market. The ministry will distribute leaflets and brochures in coordination with the local departments that will guide consumers on the right behavior and avoid any manipulation attempts?.
The Ministry of Economy (MoE) has warned suppliers they will face legal action if prices of basic food items are hiked.
"The MoE has instructed price supervision committees formed by the ministry office in each emirate and other local authorities to conduct field visits around the clock,? said Mohammed Ahmed Bin Abdul Aziz Al Shihhi, director general of the MoE.
?We are keen to place controllers in fruit and vegetable's markets to prevent monopoly and any price manipulation and to ensure the implementation of the relevant Federal laws."
Officials have also agreed with suppliers of rice, meat, chicken, wheat, oil, juices and dairy products to stabilise prices during Ramadan.
The move is part of a wider awareness campaign to educate people against price manipulation and hoarding food during the holy month.
?We have agreed with all concerned parties to join hands to avoid any manipulation of prices, and we have already established censorship team works in cooperation with the ministry?s offices in each emirate to closely monitor the sale of meat, vegetables, fish and chicken at all major retail outlets,? Al Shihhi said.
?We will also coordinate awareness campaigns before and during Ramadan to inform consumers on the availability of commodities. This is to avoid the tendency to make rush purchases before and after the holy month.
?There will be special lectures for the team to guide consumers on the best ways to monitor the market. The ministry will distribute leaflets and brochures in coordination with the local departments that will guide consumers on the right behavior and avoid any manipulation attempts?.
Sunday, 16 August 2009
Dubai Mall cineplex begins operations, to expand by year-end
Reel Cinemas, the new megaplex at The Dubai Mall, has opened nearly half of its planned 22 screens.
Ten screens started operations on Friday with a further 12 coming on line later in 2009, bringing the total seating capacity up to 2,800.
Developed by Reel Entertainment LLC, the joint venture of Emaar Retail and Singapore-based premier entertainment provider Cathay Organisation Holdings Ltd, Reel Cinemas at The Dubai Mall, once completed, will house more screens than any other cineplex in the UAE.
Arif Amiri, CEO, Emaar Retail said: ?We are truly excited to have opened the first Reel Cinemas megaplex in the UAE; it is a superb addition to our leisure and entertainment portfolio here at The Dubai Mall.?
He added: ?We have launched with ten of our commercial halls in place, and additional features such as the amazing Platinum Movie Suites will come later this year.?
The megaplex will add four Platinum Movie Suites, The Picturehouse and seven more commercial halls to its setup.
The Platinum Movie Suites offer the ultimate in cinema luxury. VIP service begins in one of two private lounges complete with marble-clad service counters, signature designer furniture and ambience lighting, creating the perfect backdrop for a relaxed drink or bite before the movie.
The first dedicated arthouse cinema hall in Dubai, The Picturehouse, will create a new wave in local cinema by screening critically-acclaimed films and films from the Arab world for the discerning movie lover.
Ten screens started operations on Friday with a further 12 coming on line later in 2009, bringing the total seating capacity up to 2,800.
Developed by Reel Entertainment LLC, the joint venture of Emaar Retail and Singapore-based premier entertainment provider Cathay Organisation Holdings Ltd, Reel Cinemas at The Dubai Mall, once completed, will house more screens than any other cineplex in the UAE.
Arif Amiri, CEO, Emaar Retail said: ?We are truly excited to have opened the first Reel Cinemas megaplex in the UAE; it is a superb addition to our leisure and entertainment portfolio here at The Dubai Mall.?
He added: ?We have launched with ten of our commercial halls in place, and additional features such as the amazing Platinum Movie Suites will come later this year.?
The megaplex will add four Platinum Movie Suites, The Picturehouse and seven more commercial halls to its setup.
The Platinum Movie Suites offer the ultimate in cinema luxury. VIP service begins in one of two private lounges complete with marble-clad service counters, signature designer furniture and ambience lighting, creating the perfect backdrop for a relaxed drink or bite before the movie.
The first dedicated arthouse cinema hall in Dubai, The Picturehouse, will create a new wave in local cinema by screening critically-acclaimed films and films from the Arab world for the discerning movie lover.
Friday, 14 August 2009
DSGi poaches John Lewis man to be web chief
Electricals group DSGi has poached a John Lewis online boss to become ecommerce director in charge of its UK websites.
David Walmsley, at present head of web selling and customer services at John Lewis, will join DSGi in October and report to commercial director Steve Ager.
He is expected to play a pivotal role at DSGi, which has made ?winning on the internet? one of the five planks of its renewal and transformation plan. At John Lewis Walmsley increased online conversion by 40% in two years.
He will now be in charge of Dixons.co.uk, Currys.co.uk and Pcworld.co.uk. Last year, DSGi generated group sales of ?1.2bn online and the intention is to generate a return of 2% to 3% a year on internet sales ?in the medium term?.
This year, Dixons.co.uk will adopt the e-merchant platform used by DSGi etail stablemate Pixmania, which is expected to deliver a variety of site improvements.
It is understood that Walmsley was placed in the DSGi role by headhunter Odgers Berndtson.
? Senior DSGi ecommerce executive Simon Pritchard is to leave the retailer. It is understood he will become head of ecommerce at fashion group Arcadia.
Article at: http://www.retail-week.com/multichannel/online-retail/dsgi-poaches-john-lewis-man-to-be-web-chief/5005300.article
David Walmsley, at present head of web selling and customer services at John Lewis, will join DSGi in October and report to commercial director Steve Ager.
He is expected to play a pivotal role at DSGi, which has made ?winning on the internet? one of the five planks of its renewal and transformation plan. At John Lewis Walmsley increased online conversion by 40% in two years.
He will now be in charge of Dixons.co.uk, Currys.co.uk and Pcworld.co.uk. Last year, DSGi generated group sales of ?1.2bn online and the intention is to generate a return of 2% to 3% a year on internet sales ?in the medium term?.
This year, Dixons.co.uk will adopt the e-merchant platform used by DSGi etail stablemate Pixmania, which is expected to deliver a variety of site improvements.
It is understood that Walmsley was placed in the DSGi role by headhunter Odgers Berndtson.
? Senior DSGi ecommerce executive Simon Pritchard is to leave the retailer. It is understood he will become head of ecommerce at fashion group Arcadia.
Article at: http://www.retail-week.com/multichannel/online-retail/dsgi-poaches-john-lewis-man-to-be-web-chief/5005300.article
GCC rich list facing new scrutiny from UK taxman
Thousands of the GCC?s wealthiest nationals with money in the UK on Wednesday came under renewed scrutiny in the British government?s fight against tax evasion.
All banks or financial institutions with branches in the UK, including Arab and Swiss companies, will be affected by the crackdown and legal experts predict the move will affect "huge numbers" of Arabs who currently hold money in the UK.
From Wednesday, the UK?s HM Revenue and Customs (HMRC) can force hundreds of banks and financial services providers to disclose information about clients with UK addresses who have offshore interests. Thousands of Arabs - if they qualify as a UK resident by spending more than 183 days a year in the country or an average of 91 days over four years - who have money locked up with UK banks or Arab banks with branches in the UK, face having their financial details poured over by the British government.
?It?s bad news. All the money that is held [by Arab banks] in accounts in London is now going to be subject to this intrusive examination,? said Al Harith Sinclair, partner at law firm DLA Piper Middle East.
?If I was sitting here as a brand new billionaire, and someone asked me ?where would I put my money, I wouldn?t put it in London?,? he added.
This comes amid a huge drive by the UK authorities to claw back money from tax evaders, as the Treasury?s revenues have been hit hard by the economic downturn.
Over the past two years the government has only targeted specific organisations. But this latest move by the UK is being seen as a massive escalation in its fight against tax avoidance.
Banks and financial institutions who are served with a compulsory disclosure notice by HMRC have 30 days to appeal, after which they must handover details of every customer with a UK address.
Sinclair said there will be a "huge number" of Gulf Arabs together with many individuals in Dubai that will be affected.
?They [the UK tax authorities] will want to know about people with an address in the UK and then will try and find out what they are doing abroad,? Sinclair said.
?Let?s say they force HSBC in London to disclose details about people that have invested in the UK. Those details will include the fact they have an associated HSBC account or some other kind of account where money is going to abroad, or is coming from abroad,? he added.
?They will check whether the person is a UK resident, and then go after them and try to take a load of tax.?
Individuals have a six month amnesty period starting on Sep 1 this year to declare and pay unpaid taxes in return for more lenient penalties.
See comments on this article at www.arabianbusiness.com
All banks or financial institutions with branches in the UK, including Arab and Swiss companies, will be affected by the crackdown and legal experts predict the move will affect "huge numbers" of Arabs who currently hold money in the UK.
From Wednesday, the UK?s HM Revenue and Customs (HMRC) can force hundreds of banks and financial services providers to disclose information about clients with UK addresses who have offshore interests. Thousands of Arabs - if they qualify as a UK resident by spending more than 183 days a year in the country or an average of 91 days over four years - who have money locked up with UK banks or Arab banks with branches in the UK, face having their financial details poured over by the British government.
?It?s bad news. All the money that is held [by Arab banks] in accounts in London is now going to be subject to this intrusive examination,? said Al Harith Sinclair, partner at law firm DLA Piper Middle East.
?If I was sitting here as a brand new billionaire, and someone asked me ?where would I put my money, I wouldn?t put it in London?,? he added.
This comes amid a huge drive by the UK authorities to claw back money from tax evaders, as the Treasury?s revenues have been hit hard by the economic downturn.
Over the past two years the government has only targeted specific organisations. But this latest move by the UK is being seen as a massive escalation in its fight against tax avoidance.
Banks and financial institutions who are served with a compulsory disclosure notice by HMRC have 30 days to appeal, after which they must handover details of every customer with a UK address.
Sinclair said there will be a "huge number" of Gulf Arabs together with many individuals in Dubai that will be affected.
?They [the UK tax authorities] will want to know about people with an address in the UK and then will try and find out what they are doing abroad,? Sinclair said.
?Let?s say they force HSBC in London to disclose details about people that have invested in the UK. Those details will include the fact they have an associated HSBC account or some other kind of account where money is going to abroad, or is coming from abroad,? he added.
?They will check whether the person is a UK resident, and then go after them and try to take a load of tax.?
Individuals have a six month amnesty period starting on Sep 1 this year to declare and pay unpaid taxes in return for more lenient penalties.
See comments on this article at www.arabianbusiness.com
Thursday, 13 August 2009
New Vacancy - Software Process Architect - Singapore
To analyse and improve product development process, methodologies and techniques so as to improve delivery time and product quality.
Key Accountability Areas
1)To analyse and identify software development process weakness so as to define and implement a set of process/method/technology and improve it
2)To perform coaching and pair-development so as to be able to knowledge transfer proper development process and methods to developers.
3)To perform code analysis from performance, reliability and maintainability, and provide advice to developers to improve code quality
Job Responsibilities
1)To constantly research on development methodologies
2)To constantly research on design patterns and good coding practices
3)To work closely with architect team members to ensure improve programs meet business needs
4)To raise the awareness of good coding practice to improve quality of product
Education & Experience
Degree Holder
Minimum 8 years of development experience
Ability to speak and write English well with Chinese or Hindi
Skills, Knowledge & Abilities
Has a passion for technology and coding practices
Strong understanding of Design Patterns and frameworks such as ORM, Spring, etc
Strong practical exposure to development methodologies such as Test Driven Design and Domain Driven Design
Strong knowledge of .net C# technologies (i.e. WCF, WPF, LinQ, etc)
Key Accountability Areas
1)To analyse and identify software development process weakness so as to define and implement a set of process/method/technology and improve it
2)To perform coaching and pair-development so as to be able to knowledge transfer proper development process and methods to developers.
3)To perform code analysis from performance, reliability and maintainability, and provide advice to developers to improve code quality
Job Responsibilities
1)To constantly research on development methodologies
2)To constantly research on design patterns and good coding practices
3)To work closely with architect team members to ensure improve programs meet business needs
4)To raise the awareness of good coding practice to improve quality of product
Education & Experience
Degree Holder
Minimum 8 years of development experience
Ability to speak and write English well with Chinese or Hindi
Skills, Knowledge & Abilities
Has a passion for technology and coding practices
Strong understanding of Design Patterns and frameworks such as ORM, Spring, etc
Strong practical exposure to development methodologies such as Test Driven Design and Domain Driven Design
Strong knowledge of .net C# technologies (i.e. WCF, WPF, LinQ, etc)
Major Doha supermarkets issued Ramadan price list
Qatar officials have issued a price list for 105 food items which they say should not increase during the holy month of Ramadan.
The list, compiled by the Consumer Protection Department, has been issued to 10 major shopping outlets, including Carrefour and Mega Mart, across Doha, according to a report in the Peninsula.
Food items included on the price guide are rice, wheat flour, oil, eggs, butter and fresh milk.?All these products are fast-moving and it is clear from the list supplied to us that the ministry has done tremendous research on what food items are of mass use,? a spokesman from the Family Food Center (FFC told the paper.
?Our management has, for example, decided to sell these items cost-to-cost and add some more products on our own,? he added.
The 10 shopping outlets which have been given the price list are; Carrefour, Lulu, Family Food Center, Giant Stores, Mega Mart, Dasman, Safari, Al Safeer, Duhail Shopping Complex and the Al Meera chain of cooperatives.
Retailers do not have to follow the price guide by law, but have agreed not to raise the prices of essential commodities during the fasting month, the paper said.
The list, compiled by the Consumer Protection Department, has been issued to 10 major shopping outlets, including Carrefour and Mega Mart, across Doha, according to a report in the Peninsula.
Food items included on the price guide are rice, wheat flour, oil, eggs, butter and fresh milk.?All these products are fast-moving and it is clear from the list supplied to us that the ministry has done tremendous research on what food items are of mass use,? a spokesman from the Family Food Center (FFC told the paper.
?Our management has, for example, decided to sell these items cost-to-cost and add some more products on our own,? he added.
The 10 shopping outlets which have been given the price list are; Carrefour, Lulu, Family Food Center, Giant Stores, Mega Mart, Dasman, Safari, Al Safeer, Duhail Shopping Complex and the Al Meera chain of cooperatives.
Retailers do not have to follow the price guide by law, but have agreed not to raise the prices of essential commodities during the fasting month, the paper said.
Wednesday, 12 August 2009
New Vacancy - FOOD RETAILERS REQUIRED
Store General Managers required.
Negotiable basic + bonus +accomodation / travel allowance + relocation + flights
Saudi Arabia based.
Must be from hypermarket food retail i.e. Tesco, Sainsbury, Asda, Auchan, Carrefour etc
CV's to cv@globalretailrecruitment.com
Negotiable basic + bonus +accomodation / travel allowance + relocation + flights
Saudi Arabia based.
Must be from hypermarket food retail i.e. Tesco, Sainsbury, Asda, Auchan, Carrefour etc
CV's to cv@globalretailrecruitment.com
Tuesday, 11 August 2009
Wal-Mart contemplates Kopeyka
The American retail giant Wal-Mart is said to be interested in acquiring the Russian Kopeyka discount chain. It is reported that the company made a preliminary offer to Kopeyka?s owner, Nikolay Tsvetkov in June 2009. It is thought that Mr Tsvetkov has not yet accepted the offer but that he is likely to do so in August. The retailer is estimated to be worth up to $630m. According to reports in the press, Wal-Mart is interested in obtaining a 100% stake in the retailer, but the possibility of Mr Tsvetkov?s retaining a minority stake is also being considered. Neither of the parties would comment on the reports.
Interestingly, in April 2009 Wal-Mart held talks with another Russian retail chain, Lenta, on the acquisition of a 51% stake but it withdrew from the negotiations. On the other hand, the X5 Retail Group and Magnit showed interest in purchasing Kopeyka, but neither succeeded in concluding a deal.
Wal-Mart operates 7,000 stores in 15 countries around the world, whereas Kopeyka owns a chain of 528 discounters all over Russia.
source:Russia Retail
Monday, 10 August 2009
45% of UAE consumers see end of downturn in 2010
A total of 45 percent of consumers who took part in an international survey are confident the country will emerge from the recession in the next 12 months.
The figure, which comes from the Nielsen Global Consumer Confidence report for the second quarter released on Monday, is an increase of 13 percent, compared to a previous survey conducted in March.
This shows consumer confidence is returning to the region, said Piyush Mathur, Nielsen?s regional managing director, Middle East, North Africa and Pakistan.
Full story:- http://www.arabianbusiness.com/564361-45-of-uae-consumers-see-end-of-downturn-in-12-months
The figure, which comes from the Nielsen Global Consumer Confidence report for the second quarter released on Monday, is an increase of 13 percent, compared to a previous survey conducted in March.
This shows consumer confidence is returning to the region, said Piyush Mathur, Nielsen?s regional managing director, Middle East, North Africa and Pakistan.
Full story:- http://www.arabianbusiness.com/564361-45-of-uae-consumers-see-end-of-downturn-in-12-months
Saturday, 8 August 2009
Vacancy update!
Commercial Director - Wholesale - non food - Pakistan
COO - Saudi Arabia - Fashion
Retail Business Manager - Asia - Food
CFO - Saudi Arabia - Fashion
Designers - Kuwait - Fashion
VMM - Kuwait - Fashion
Chefs - Germany
Regional Manager - Saudi Arabia -Department Stores
COO - Saudi Arabia - Fashion
Retail Business Manager - Asia - Food
CFO - Saudi Arabia - Fashion
Designers - Kuwait - Fashion
VMM - Kuwait - Fashion
Chefs - Germany
Regional Manager - Saudi Arabia -Department Stores
Friday, 7 August 2009
Sales of homewares increase for the first time in a year
Sales of homewares improved for the first time in 12 months in July while fashion suffered due to poor weather.
After a year of like-for-like declines sales for homeware retailers, sales rose 1.2% according to BDO Stoy Hayward?s High Street Sales Tracker.
Furniture and textiles performed particularly well, partly due to deep discounting across the sector.
Fashion sales fell 4.2% for the month, with soft sales across most areas as the rain and cooler temperatures deterred shoppers from buying summer stock.
Non-fashion like-for-like sales grew 1.2% with leisure goods and gifting reporting the strongest sales.
BDO retail partner Don Williams said: ?The strong rebound in homewares has certainly provided some long overdue good news for retailers in those sectors. However fashion had a particularly difficult month due to lack of ?barbeque weather.? This supports our view that the recovery in consumer spending is patchy and by no means uniform.?
by Lisa Berwin www.retail-week.com
After a year of like-for-like declines sales for homeware retailers, sales rose 1.2% according to BDO Stoy Hayward?s High Street Sales Tracker.
Furniture and textiles performed particularly well, partly due to deep discounting across the sector.
Fashion sales fell 4.2% for the month, with soft sales across most areas as the rain and cooler temperatures deterred shoppers from buying summer stock.
Non-fashion like-for-like sales grew 1.2% with leisure goods and gifting reporting the strongest sales.
BDO retail partner Don Williams said: ?The strong rebound in homewares has certainly provided some long overdue good news for retailers in those sectors. However fashion had a particularly difficult month due to lack of ?barbeque weather.? This supports our view that the recovery in consumer spending is patchy and by no means uniform.?
by Lisa Berwin www.retail-week.com
Thai furniture store to open 10 GCC stores
Index Living Mall, a home retail chain with 17 stores in Thailand, plans to roll out 10 outlets across the GCC within the next three to five years, after opening its first international store in Dubai.
The company?s local partner, Retail Is Detail LLC, said its expansion plans were unaffected by a decline in consumer spending across the Gulf.
?The plan is to open in Abu Dhabi, Qatar, Bahrain and Saudi. Logistically, it would be much easier to go to Abu Dhabi next, and that?s what?s in the pipeline,? said Sanveer Gill, director of operations and merchandising. An influx of expatriates during Dubai?s six-year economic boom boosted retail sales but the market has slumped amid slowing tourism and a wave of layoffs in the emirate?s real estate and financial sectors, which analysts believe could lead to an 8 percent population decline this year.
Home furnishing firms typically benefit from a downturn in the property market as more people redecorate their existing homes instead of buying a new one.
Index?s 50,000 sq ft outlet in The Dubai Mall is smaller than the big box retailer?s outlets in Thailand, which range from 80,000 sq ft to 220,000 sq ft in size.
?We took a 50,000 sq ft space because we got a location in The Dubai Mall,? said Gill.
?We thought that with the amount of traffic this mall brings in?it?s a great way to showcase Index not just to the Middle East but to the rest of the world.?
The company?s local partner, Retail Is Detail LLC, said its expansion plans were unaffected by a decline in consumer spending across the Gulf.
?The plan is to open in Abu Dhabi, Qatar, Bahrain and Saudi. Logistically, it would be much easier to go to Abu Dhabi next, and that?s what?s in the pipeline,? said Sanveer Gill, director of operations and merchandising. An influx of expatriates during Dubai?s six-year economic boom boosted retail sales but the market has slumped amid slowing tourism and a wave of layoffs in the emirate?s real estate and financial sectors, which analysts believe could lead to an 8 percent population decline this year.
Home furnishing firms typically benefit from a downturn in the property market as more people redecorate their existing homes instead of buying a new one.
Index?s 50,000 sq ft outlet in The Dubai Mall is smaller than the big box retailer?s outlets in Thailand, which range from 80,000 sq ft to 220,000 sq ft in size.
?We took a 50,000 sq ft space because we got a location in The Dubai Mall,? said Gill.
?We thought that with the amount of traffic this mall brings in?it?s a great way to showcase Index not just to the Middle East but to the rest of the world.?
Thursday, 6 August 2009
Dubai Sales UP!!
Sales at this year?s Dubai Summer Surprises (DSS) festival are up 10 percent on the year, the event?s organiser has claimed, despite major retailers reporting revenue declines of up to 35 percent.
Full story http://www.arabianbusiness.com/563974-fw-dubai-summer-surprises-says-sales-up-10
Full story http://www.arabianbusiness.com/563974-fw-dubai-summer-surprises-says-sales-up-10
Wednesday, 5 August 2009
Opinions count; Who's the best?
In the European fashion retail market, who is perceived to be the most knowledgeable, dynamic and delivery orientated COO?
New Vacancy - Department Store Divisional Manager
Package - negotiable.
Based in Saudi Arabia.
Previous multi-site department store format a must.
Send your Cv urgently to cv@globalretailrecruitment.com
Based in Saudi Arabia.
Previous multi-site department store format a must.
Send your Cv urgently to cv@globalretailrecruitment.com
Country Manager - Food Retail Required
Currently working on a Country management opportunity in the UAE.
Food retail and GCC experience a must at senior level. i.e. Tesco, Sainsbury, Carrefour, Spinney's senior management . Package to be confirmed circa 55000 AED
Food retail and GCC experience a must at senior level. i.e. Tesco, Sainsbury, Carrefour, Spinney's senior management . Package to be confirmed circa 55000 AED
Dubai luxury sales 'incomparable' to last year - BinHendi
Sales during this year?s Dubai Summer Surprises (DSS) festival are ?incomparable? to last year?s results, one of the region?s leading luxury retailers has said.
?The strong buying that used to happen is not there anymore,? said MohiDin BinHendi, president of BinHendi Enterprises, which owns and operates upmarket stores including Hugo Boss, Brioni and Porsche Design.
DSS, the annual event organised by the Dubai Shopping Festival (DSF), is an important time of year for the city?s retailers, as schools and universities close for the holidays and soaring temperatures keep people from going outside.But despite offering bigger discounts earlier in the season this year, most retailers have suffered revenue drops of 20 to 30 percent.
?There is no comparison between this summer and last summer, the whole economy is different,? BinHendi said.
Predicting when sales would rebound is impossible, he added.
?Things are definitely going to improve, but how and when I really don?t know? There have been a few improvements, but not a significant improvement."
Earlier this year BinHendi Enterprises shuttered BinHendi Avenue, a luxury retail development that was part of Majid Al Futtaim?s Deira City Centre in Dubai, citing growing competition in the luxury goods market from other, newer malls.
Retailers in Dubai have been more affected by the international recession than companies in other parts of the region due to their reliance on tourism from countries like the UK, the Commonwealth of Independent States (CIS) and Iran.
?The strong buying that used to happen is not there anymore,? said MohiDin BinHendi, president of BinHendi Enterprises, which owns and operates upmarket stores including Hugo Boss, Brioni and Porsche Design.
DSS, the annual event organised by the Dubai Shopping Festival (DSF), is an important time of year for the city?s retailers, as schools and universities close for the holidays and soaring temperatures keep people from going outside.But despite offering bigger discounts earlier in the season this year, most retailers have suffered revenue drops of 20 to 30 percent.
?There is no comparison between this summer and last summer, the whole economy is different,? BinHendi said.
Predicting when sales would rebound is impossible, he added.
?Things are definitely going to improve, but how and when I really don?t know? There have been a few improvements, but not a significant improvement."
Earlier this year BinHendi Enterprises shuttered BinHendi Avenue, a luxury retail development that was part of Majid Al Futtaim?s Deira City Centre in Dubai, citing growing competition in the luxury goods market from other, newer malls.
Retailers in Dubai have been more affected by the international recession than companies in other parts of the region due to their reliance on tourism from countries like the UK, the Commonwealth of Independent States (CIS) and Iran.
Tuesday, 4 August 2009
New Vacancies - Fashion
COO and CFO required for leading fashion company in the Middle East. Experience must be from senior level management in leading fashion brands internationally. Strong academic and vocational background essential.
Send CV's to cv@globalretailrecruitment.com
see www.globalretailrecruitment.com for further vacancies
Send CV's to cv@globalretailrecruitment.com
see www.globalretailrecruitment.com for further vacancies
Office Depot set for Mideast debut
Office Depot Inc., the global supplier of office products and services, is launching its first store in the Middle East.
In cooperation with local retailer M.H. Alshaya Co, the company will launch its first one stop shop for office supplies in the ME at The Avenues Mall, Kuwait.
Full story at: http://www.arabianbusiness.com/563734-office-depot-set-for-me-debut
In cooperation with local retailer M.H. Alshaya Co, the company will launch its first one stop shop for office supplies in the ME at The Avenues Mall, Kuwait.
Full story at: http://www.arabianbusiness.com/563734-office-depot-set-for-me-debut
Monday, 3 August 2009
June Retail Sales - UK
Sales in UK shops shot up 1.2% in June following a sharp fall in May as hot summer weather boosted clothing purchases, official figures show.
The jump was much more than the 0.3% rise expected by economists. Retail sales had fallen 0.9% in May.
Full story - http://news.bbc.co.uk/1/hi/business/8164539.stm
The jump was much more than the 0.3% rise expected by economists. Retail sales had fallen 0.9% in May.
Full story - http://news.bbc.co.uk/1/hi/business/8164539.stm
Worlds biggest retail duty free
Dubai Duty Free recorded sales of $1.1bn last year making it the biggest airport retail operation in the world
http://www.arabianbusiness.com/563513-dubai-duty-free-named-as-the-worlds-biggest-retail-operation
http://www.arabianbusiness.com/563513-dubai-duty-free-named-as-the-worlds-biggest-retail-operation
Saturday, 1 August 2009
New Vacancy - Fashion Design - Kuwait
Vacancy in Kuwait for leading fashion design retailer.
significant experience in Photoshop, 3D Max, InDesign required.
Salary and package negotiable.
Send your Cv immediately to neil@globalretailrecruitment.com
significant experience in Photoshop, 3D Max, InDesign required.
Salary and package negotiable.
Send your Cv immediately to neil@globalretailrecruitment.com
New Vacancy - Visual Merchandise Manager - Kuwait - Fashion
Salary : apprx. U$ 4000 per month
University degree, experience in software as follows: photoshop, illustrator, indesign,3Dmax
2 months accomodation allowance
Visa and expenses of relocation covered.
Send your CV to cv@globalretailrecruitment.com
University degree, experience in software as follows: photoshop, illustrator, indesign,3Dmax
2 months accomodation allowance
Visa and expenses of relocation covered.
Send your CV to cv@globalretailrecruitment.com
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