UAE: Majid Al Futtaim develops neighbourhood stores in expansion drive
Middle Eastern retailer Majid Al Futtaim has launched a neighbourhood store concept under the My City Centre banner in the UAE.
Majid Al Futtaim recently launched a new brand strategy, which unifies the company's diverse assets through a "recognised visual identity". The new My City Centre outlets offer a "similar quality to that found at Majid Al Futtaim's City Centre shopping malls" but within an "accessible and convenience-minded" environment, the company said.
"My City Centre is a continuation of Majid Al Futtaim's new brand strategy, and another milestone demonstrating the growing momentum of our expansion plans driven by new concepts, into new markets," said Dimitri Vazelakis, executive managing director of shopping malls.
Majid Al Futtaim is opening the first My City Centre store in Nasseriya and plans to expand the concept throughout the UAE.
The move comes as Majid Al Futtaim ramps up investment to expand in the Middle East and north Africa. Reports today (10 March) suggested the group is also increasing investment in other countries in the region.
According to the Egyptian Ministry of Foreign Trade, Industry and Investment, the company intends to build four shopping and 32 hypermarkets in Egypt, local reports claim.
Majid Al Futtaim was not available for further comment at time of press.
- What US companies might Nomad Foods buy?
- Competition intensifies among UK burger chains
- Soda draws fire from food in Mexico obesity battle
- Why investors are concerned about water risk
- Why Flowers Foods organic bread deal is a killer
- Mondelez CEO Rosenfeld defends moves on costs
- Just Mayo under fire from US FDA after complaint
- Ajinomoto "eyes acquisitions in Europe"
- FrieslandCampina H1 earnings up despite flat sales
- Hearthside to buy nutrition bar maker VSI
- Management briefing: just-food’s industry outlook for 2015
- Nestle USA, Inc.: Consumer Packaged Goods - Company Profile & SWOT Analysis
- The Coca-Cola Company : Consumer Packaged Goods - Company Profile, SWOT & Financial Analysis
- Chocolate and Chocolate Candy Manufacturing Industry (U.S.): Analytics, Extensive Financial Benchmarks, Metrics and Revenue Forecasts to 2022
- Food Flavourings & Colourings (UK) - Industry Report