Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Landmark Group to open 50 new stores in the UAE  Join our daily free Newsletter

MENAFN - Khaleej Times - 05/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) New stores by end of 2015 will increase the group?s retail presence to more than 550 and total retail area to almost eight million square feet.

murray bell and vipen sethi at the news briefing. — supplied photo

landmark group plans to open 50 new stores in the next 18 months in the uae and more than 25 of them will be operational before the end of 2014 group chief executive officer vipen sethi said on wednesday at a news conference.

new stores by end of 2015 will increase the group’s retail presence to more than 550 and total retail area to almost eight million square feet. sethi declined to disclose the total investment on the new stores but emphasised that it’s a significant investment.

“we have more than enough cash for our expansion plan” the group’s chief executive responded to khaleej times.

he ruled out any plan for stock market listing of the company and said: “we want to continue as a private company.” the group’s popular retail concepts include centrepoint babyshop splash shoe mart max lifestyle emax and home centre among others.

he informed that abu dhabi’s yas mall will have 25 new stores. the mall is expected to open in november 2014. rest of 25 new stores will be across the country he added.

the announcement was made ahead of the launch of three new stores at dubai festival city mall. the creek-side mixed-use destination developed by al futtaim group real estate has now opened doors to landmark group’s popular concepts centrepoint max and emax spanning 100000 square feet of retail space across two floors.

the group which already has 50000 employees will hire at least 2500 employees for new stores in the country sethi disclosed.

explaining the reason for the expansion he said the retail sector is booming. “strategically growing our presence in dubai festival city mall is an important step in our expansion plans in the uae. with the nation gearing up to host more than 20 million visitors in 2020 the nation’s leadership has a commitment to strengthen infrastructure and upgrade tourist offerings. as a retailer catering to the masses we also seek to simultaneously growing our presence across destination malls and community centres in strong catchment areas” he explained.

“the dynamics of dubai and the uae is such that it attracts a lot of visitors and people spend money here — both local residents and visitors” he added.

talking about the group’s online shopping portal he said that it would take time to pick-up as unlike europe people still want to go for shopping experience. this trend may come later on to this market. the company is ding a lot of investment on technology and integration he added.

talking about the group’s performance in other countries he said: “we as a group are still doing very well in gulf countries. next step would be africa and then east european countries.”

joining the news conference murray bell managing director retail at al futtaim group real estate said: “we are extremely pleased to add landmark group’s big box store concepts to dubai festival city mall. the landmark group is a key strategic partner as we work closely together across our regional portfolio of malls. the opening of centrepoint max and emax are much anticipated by our shoppers and we welcome these fashion and electronics offering to the mall.”

committed to growing its presence in dubai landmark group currently operates over 270 stores in the emirate where it enjoys the loyalty of over one million active shukran customers. in a bid to offer customers in the uae a truly omni-channel retail experience the group has integrated its loyalty programme shukran with its e-commerce portal landmarkshops.com.

— abdulbasit?khaleejtimes.com


 


Khaleej Times




  MENA News Headlines
 Aug 4 2015 - UAE Q3 non-oil sector keeps growing baseMENAFN
(MENAFN) An official report show that Business conditions in the UAE's non-oil private sector continued to improve in last July.Non-oil private sector employment in the UAE keeps on increasing in ...

 Aug 4 2015 - Emirates Reit to invest USD56.69m in Akoya new schoolMENAFN
(MENAFN) Dubai-based real estate investment trust Emirates Reit has announced that it will invest about USD56.69 million on building a new school in DAMAC's Akoya development. Emirates Reit acquired ...

 Aug 4 2015 - Egypt expands armed forces mission in YemenDaily News Egypt
(MENAFN - Daily News Egypt) President Abdel Fattah Al-Sisi met Saturday with members of the National Defence Council, in a meeting that saw the expansion of the Egyptian armed forces' participation ...

 Aug 4 2015 - Egypt- None can interfere in judiciary, Brotherhood defendants tried by law: Al-ZindDaily News Egypt
(MENAFN - Daily News Egypt) Minister of Justice Ahmed El-Zind said that defendants of the former Muslim Brotherhood regime are being tried according to the law, during a Friday TV show on a state-run ...

 Aug 4 2015 - Oman approves electricity projects worth USD600.2mMENAFN
(MENAFN) Three hundred fifty-nine projects with a total value of around USD600.2 million were approved by licensed operators last year to enhance the electricity network in Oman.The projects were ...

 Aug 4 2015 - Industries Qatar profits surge 20 percent in Q2MENAFN
(MENAFN) Industries Qatar said its second-quarter profit increased 20 percent, beating analyst forecasts, although its half-year profit fell because of declining petrochemicals prices.The ...

 Aug 4 2015 - Health Ministry's Hajj Preparatory Committees hold meetingSaudi Press Agency
(MENAFN - Saudi Press Agency) The Preparatory Hajj Committees of the Ministry of Health held their 12th meeting at the ministry yesterday, in the presence of the heads of the preparatory committees ...

 Aug 4 2015 - Kingdom of Saudi Arabia's Scouts honor World Scout Committee MembersSaudi Press Agency
(MENAFN - Saudi Press Agency) Saudi Arabian Boy Scouts Association honored the members of the World Scout Committee during their visit yesterday to the Saudi delegation participating in Arab Cultural ...

 Aug 4 2015 - Kingdom of Saudi Arabia's Consul General in Los Angeles : We did not record any contact from citizens due to fires in Northern CaliforniaSaudi Press Agency
(MENAFN - Saudi Press Agency) The Consul General of the Kingdom of Saudi Arabia in Los Angeles, Ambassador Dr. Faisal bin Abdulaziz Al-Sudairy, confirmed that there is no Saudi citizen close to the ...

 Aug 4 2015 - UAE- Apparel unveils community centre in AjmanKhaleej Times
(MENAFN - Khaleej Times)Apparel Group has launched its first community centre in the UAE - Grand Centrale in Ajman. His Highness Shaikh Humaid bin Rashid Al Nuaimi Member of the Supreme Council and ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help