Lulu named fastest growing retailer

Updated 02 February 2013

Lulu named fastest growing retailer

Two UAE-based retailers — Emke Group and Landmark Group — have been named amongst the world’s fastest 50 growing retail chains by auditing and research firm Deloitte.
Emke Group, which operates the region’s largest retail chain Lulu Hypermarkets is the world’s 9th fastest growing retail chain, while Landmark Group has been named as the 16th fastest retailer in the world. They are trailing and Apple Inc. — ranked 7th and 8th fastest growing retailer brands in the world, respectively.
“Retail revenue for the 50 fastest-growing retailers increased at a compound annual rate of 22 percent between 2006 and 2011,” Ira Kalish, author of the report, says.
“While the fastest 50 is based on revenue growth over a five-year period, most of the retailers on the list maintained their aggressive growth.”
Global Powers of Retailing 2013, a benchmark report released recently, also named these two UAE-based retailers amongst the world’s top 250 retail groups for the first time.
“The region’s retail sector has displayed strong resilience in the face of global economic downturn and is expected to continue to grow at a steady pace given its attractiveness to tourists and residents in terms of geographic location, developed logistics and availability of diverse and quality shopping options,” Mahboob Murshed, managing director, Alpen Capital, said.
Commenting on this achievement, Yusuff Ali MA said: “Last 4-5 years have been very positive for us. In fact in this period, we opened 30 hypermarkets and malls across the region and recorded a sales growth of $ 4.25 billion from $ 2. 7 billion with compound annual growth rate of 30.5 percent. “
He added: Currently, we have 104 stores across the region and this year we intend to open another 12 hypermarkets including the first one in India. This will generate additional employment opportunities of over 4,500. We are also exploring new growth opportunities in Egypt, Iraq and countries in the Far East especially in Malaysia and Indonesia. At, present the group’s total strength is 30,000 from 29 nationalities.”

Top CEO Conference & Awards wraps up in Bahrain

Updated 17 April 2019

Top CEO Conference & Awards wraps up in Bahrain

The Top CEO Conference & Awards 2019, organized by TRENDS magazine — Mediaquest and international business school INSEAD, has concluded at the Al-Areen Palace and Spa in Bahrain. The event, held on Thursday, included seven key panel discussions under the theme “Growth in a Volatile Future” as well as the Top CEO Awards 2019 ceremony, which recognized the region’s most successful and trendsetting CEOs from more than 700 companies listed on GCC stock exchanges.

Top business leaders and more than 30 speakers from across the GCC shed light on the Middle East’s dynamic but volatile region and the burning issues facing the corporate world today. This year’s theme focused on a score of relevant issues, such as oil price fluctuations, tech disruptions, armed and political schisms that pose new risks, and opportunities. Speakers such as renowned economist Professor Nouriel Roubini provided growth solutions and road maps for businesses in the GCC region.

Alexandre Hawari, CEO of Mediaquest, said: “In its fifth edition, the Top CEO Conference & Awards fully encapsulated the theme of ‘Growth in a Volatile Future’ by acknowledging and exploring the growth transformation that the region is undergoing through digitalization and the fourth industrial revolution amid geopolitical tensions, looming trade wars and a rapidly evolving business environment. Building on the huge success of the previous years, the Top CEO Awards 2019 recognized CEOs and companies who have raised the bar by navigating challenges, implementing new strategies, and have demonstrated unquestionable growth, profitability and excellence in corporate governance.”

The conference kicked off with an opening keynote from Jassim Al-Seddiqi, CEO of the Abu Dhabi Financial Group and chairman of GFH Financial Group, who delved into the potential of transforming the region into a fintech hub and the importance of jumping on the digital bandwagon. 

The prime panel discussion on the “Future of Growth Amid Volatility” brought together five CEOs who explored methods to create future-proof strategies that can not only tackle challenges but also boost growth in a tough geopolitical and economic climate. 

Hisham Al-Rayes, CEO and board member of the GFH Financial Group, said: “Investing in the future in areas such as fintech, education and technology, the foundations for strong, enduring knowledge-based economies, is a priority for the group and the governments of the region in which we invest.”

“The Blockchain Opportunity” and “The Human Factor and Tech Innovation” panels brought together industry experts from Facebook, the Bahrain FinTech Bay and King Abdul Aziz University. 

“The Future of Women’s Business Leadership” panel discussed positive strides taken by GCC governments and businesses in leveling the playing field for women professionals.