Retail
- The news you choose »
- Login to Add to Watchlist
Montblanc opens new stores in ME
Montblanc, manufacturer of luxury pens, leather goods, classic timepieces and jewellery, has announced an expansion programme in the region this year, with initial plans to open six exclusive boutiques including their own outlet and those of franchise partners in the UAE, Bahrain, Saudi Arabia, Kuwait and Qatar, reported Gulf News.
Saudi billionaire gives Egypt $180,400 as a gift
Saudi billionaire Prince Alwaleed bin Talal has donated $180,400 to African Cup holders Egypt, reported The New Vision. "This gesture was in support of the team reaching the final after winning their match against Ivory Coast," said a statement from Kingdom Holding, owned by the Muslim world's wealthiest Muslim.
Alghanim opens new showrooms in Kuwait
Alghanim Industries, one of the leading retailers in Kuwait, recently launched its new world-class concept showroom at the Avenues Mall Thursday in an outstanding inauguration. The event was attended by the Minister of Commerce and Industry, reported Kuwait News. The new store, Alghanim Electronics and Complete Living Alghanim Industries, is a continuation of building their leadership position in various sectors by constantly striving to exceed customer expectations.
Al Islami sales hike 40%
Al Islami Foods reported a 40% increase in sales revenue for 2007, compared to 2006. The company has introdcued to market its own franchise model, Al Islami Cart and has recently acquired Al Farooj Fresh restaurant and express chain in UAE.
China Sharia REIT to tap Middle East
Singapore-based boutique fund Emirates Tarian is raising $250m from Middle East investors for what could be the first Sharia-compliant property trust based entirely on shopping malls in China, reported Reuters. The real estate investment trust, ETCM Real Assets Investment Trust, will be listed in Singapore in the second half of the year to raise a further $400-500m. Islamic scholars in Bahrain and Malaysia will vet the properties to ensure that they adhere to Islamic principles. The initial portfolio of three malls in Beijing, Tianjin and Changchun, is valued at $350m.
Koutons Retail eyes Middle East
A top official of Indian apparel manufacturer Koutons Retail India said the company plans to enter the Middle-East market by the end of this year, reported Press Trust of India. Company chairman Chairman D P S Kohli said the firm is exploring markets in the Middle East and also China, but did not offer further details. The company presently has 650 stores throughout India.
Yalla Bahrain to be launched
Ferrari F1 driver Felipe Massa will kick off the Ithmaar Group Yalla Bahrain! calendar of festive and cultural events with an autograph session at the Seef Mall on Friday, reported Gulf Daily News. The hour-long event, starting at 7.30pm, is the traditional starting point for the two-month festival that leads up to the Formula One Bahrain Grand Prix, being held during the first week of April.
Strong Mideast retail market can withstand global slowdown
Retail sales in the Middle East are strong enough to withstand a US-led global economic downturn, acording to Naomi Koningen, Project Manager of Retail City 2008. She said the Middle East retail sector is estimated to be worth in excess of $100bn annually, second only to residential property in the non-oil economy. A potential US recession would have an impact, she added, but one which the GCC economies can cope with, reported Gulf News.
UAE sailing being promoted
Plans are afoot to encourage more Emiratis to embark on a life on the ocean wave. The UAE won two sailing gold medals at the Pan Arab Games held in Egypt last December, reported Gulf News. The Dubai International Sailing Academy (DISA), which is less than a month old, is based at Dubai International Marine Club (DIMC) and held its first regatta last weekend - the Honda Ocean Series. Sharon Allison, events and club manager at DISA, said that she had been pleased with the response from the sailing community.
New pharamacies open in Dubai
Pharmacy chains are gearing up for foreign competition by opening new outlets, revamping outdated ones and acquiring smaller units, reported Business 24/7. Global pharmacy chains are increasingly looking at the region as an untapped market and moving in. Medicine Shoppe International, part of the AED319.5bn US-based Cardinal Health Co, with around 1,400 shops in seven countries, has already opened outlets in Dubai. Five Medicine Shoppe and Medicap Pharmacies in the UAE will open under a master franchise agreement with Al Zahrawi Group, which will manage all Medicine Shoppe Arabia operations.
DSF's jewellery sales hit Dhs240m
According to the Dubai Gold and Jewellery Group, jewellery sales during the first week of the Dubai Shopping Festival has reached Dh240m, cited Gulf News. The group expects this season will generate jewellery sales up to Dh1.2bn.
Al Tayer and Astrata form company
US-based Astrata Group has announced the establishment of Astrata Middle East, formed with Al Tayer Group, to market Astrata's advanced, full featured telematics products in the Middle East region, reported cnnmoney.com. Astrata will offer its state-of-the-art vehicle and personnel tracking products with supporting infrastructure and services directly to Middle East customers, leveraging on the company's success and experience worldwide, particularly the Asia Pacific region where Astrata is one of the leading providers of telematics solutions.
Egypt book fair censored
Egypt has banned a number of Western and secular books from the 40th Cairo International Book Fair, including works by Czech author Milan Kundera and Morocco's Mohamed Choukri, reported AFP. The Cairo book fair, the Arab world's largest, is dominated by Islamist and educational works, and the authorities have not said why the other works were seized at Cairo airport.
Tiger Woods heads for Dubai
Tiger Woods left southern California on Monday for the UAE where he will compete in the Dubai Desert Classic later this week. The world's number one golfer will be arriving at the event in peak form, after having just captured the Buick Invitational on Sunday by a whopping eight shots. With Sunday's win, Woods matched Arnold Palmer's 62 career titles.
GCC retail real estate market soars
The retail real estate market in the GCC is the fastest growing in the world, according to a recent study by Epoc Messe Frankfurt, organizer of Middle East Toy Fair which will take place from March 31 to April 2, 2008 at the Dubai International Convention and Exhbition Centre. More than 16.35 million square metres of gross leasable area (GLA) is expected to be completed by 2010, an increase of 565% in available GLA found in the region since 2000, which then stood at 2.46 million square metres. Within the GCC, the UAE and Saudi Arabia will see the highest GLA increase, with Dubai witnessing the largest actual increase from 1.17 million square metres in 2006 to 4.25 million square metres by the end of the decade.
It looks like you are using a Mac - check out our 
Web Feeds