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
 Feb 1 2015 - HMG wins Excellence Prize for patient care from Arab HealthArab News
(MENAFN - Arab News) Dr. Sulaiman Al-Habib Medical Group (HMG) continues its noticeable attendance in the Arab Health Exhibition in Dubai this year as it has been rewarded with the Excellence Prize ...

 Feb 1 2015 - How to get a job done for 5 onlyArab News
(MENAFN - Arab News) It sounds like a crazy idea but you can actually get a brand new logo for your company or get 250 words translated or 1500 words proofread or your personal piano player for just ...

 Feb 1 2015 - Etihad Airways appoints first female Emirati airport managerArab News
(MENAFN - Arab News) Etihad Airways the national airline of the UAE has appointed Fatima Al-Kharousi as the first Emirati female airport manager. Based in Nagoya Japan she will be responsible for ...

 Feb 1 2015 - Saudi- Facebook beats forecasts with strong profit gainsArab News
(MENAFN - Arab News) SAN FRANCISCO: Facebook said that profit soared on the wings of mobile ad revenue but stressed it is more concerned with investing in the future than making quick cash.While ...

 Feb 1 2015 - Facebook beats forecasts with strong profit gainsArab News
(MENAFN - Arab News) SAN FRANCISCO: Facebook said that profit soared on the wings of mobile ad revenue but stressed it is more concerned with investing in the future than making quick cash.While ...

 Feb 1 2015 - Israeli occupation forces Arrest 10 Palestinian in West BankQatar News Agency
(MENAFN - QNA) Israeli occupation forces arrested since dawn today10 Palestinians in the West Bank amid heavy gunfire during incursions into the West Bank cities of Hebron, Bethlehem and ...

 Feb 1 2015 - 'Qatar Green Building Conference' to Take Place in Doha in AprilQatar News Agency
(MENAFN - QNA) Qatar Green Building Council (QGBC), a member of Qatar Foundation for Education, Science and Community Development (QF), has announced its upcoming inaugural annual conference. The ...

 Feb 1 2015 - Jordanian Government Condemns Execution of Japanese HostageQatar News Agency
(MENAFN - QNA) The Jordanian government strongly condemned on Sunday Daash killing of Japanese hostage journalist Kenji Goto. Jordanian Minister of Information Affairs and Government Spokesman Dr. ...

 Feb 1 2015 - Qatar Armed Forces General Command Issues Precautionary WarningQatar News Agency
(MENAFN - QNA) Qatar Armed Forces General Command forces has announced that the marine shooting range (O.B.D-28), located east of Mesaieed near Fasht Al-Hadid, will be active during the period from ...

 Feb 1 2015 - Qatar Computing Research Institute, Boeing to Host MLDAS 2015 in MarchQatar News Agency
(MENAFN - QNA) Building on the overwhelming success of last year's inaugural symposium, Qatar Computing Research Institute (QCRI) and Boeing are once again partnering to host the second edition of ...

more...


 






Google

 
 

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