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Retail and consumer news from the Middle East. All the important stories, exclusive interviews, plus authoritative opinion and analysis

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Majid Al Futtaim controls more than $19 billion in assets across 16 countries, MAF alone controls more than $19 billion in assets across 16 countries, including the Mall of the Emirates in Dubai

Majid Al Futtaim IPO could ease succession strains

Taking Majid Al Futtaim Holding public could provide a way to resolve the succession challenges facing the Dubai-based family conglomerate, but also risks fracturing the tight-knit structure that has long defined one of the Gulf’s most prominent family businesses. “The best way to solve family disputes is [to] list all the shares,” says Obediah Ayton, […]

The Gold Souq in Dubai. The 18-25 age group were said to account for a significant surge in purchases

Dubai gold sales rise 10% during Eid al-Adha

Gold sales in Dubai reportedly registered double-digit growth during Eid al-Adha, defying a rise in global prices. Sales of the precious metal rose by 10 percent year on year during the Eid holiday period, driven by strong demand from locals and tourists, Tawhid Abdullah, chairman of the Dubai Gold and Jewellery Group, told Al Bayan, […]

Casino Group currently operates 472 stores outside France. Its first in Morocco will open next year

France’s Casino Group to open 210 stores in Morocco

French convenience store retailer Casino Group will open 210 stores in Morocco over the next decade as part of its international expansion strategy. The company has partnered with Morocco’s H&S Invest Holding to open Franprix and Monoprix branded outlets, the companies said in a joint statement. Franprix specialises in urban convenience stores, while Monoprix provides […]

Investcorp acquired a stake in Indian retailer Citykart from the asset management arm of IDFC Group six years ago

Investcorp nets fourfold gain on exit from India’s Citykart

Bahrain-based asset manager Investcorp has reportedly sold its entire stake in Citykart, an Indian fashion retailer, making a fourfold return on its 2019 investment. The stake sale was part of the startup’s series B funding round, which saw Citykart raise INR5.4 billion ($63 million), local media reported. Investcorp acquired the stake from the asset management […]

Fishmongers and shoppers at Kuwait City's fish market. The Circle app offers grocery delivery around Kuwait

Kuwaiti rapid-delivery app raises £6m for expansion

Kuwaiti quick-commerce platform Circle has raised $6 million to fund local and regional expansion, it has announced. Founded in 2020, the Circle app offers deliveries of groceries and other essentials from “dark stores” across Kuwait. It aims for delivery in less than 20 minutes. The company says it has grown its revenue sevenfold in just […]

A Lulu store. Revenue in Saudi Arabia jumped by 10 percent year on year, primarily driven by new store openings in the last 12 months

Lulu profit and revenue up as online sales grow by quarter

Net profit of Lulu Retail, the largest grocery retailer in the GCC, increased in the first quarter of 2025, supported by higher online sales. Net profit grew 16 percent year on year to $70 million, with net profit margin rising to 3 percent, up 25 basis points annually, the retailer said in a statement published […]

Spinneys said transaction volume rose by 7.8 percent year on year to 9.9 million, indicating surging customer demand

Spinneys targets expansion in UAE and Saudi Arabia

Supermarket operator Spinneys plans to expand its network further in the UAE and Saudi Arabia this year as online sales and a bigger spend per customer drove revenue in the first quarter of the year. The top line rose 11.3 percent year on year to AED906 million ($247 million) in the first three months of 2025. Like-for-like […]

The textile souk in Dubai. Many retailers have been relying on aggressive discounting to attract customers

Dollar rebound offers little relief to UAE retailers

The dollar has jumped in the past 24 hours but it is still trading at around an eight-month low, at least against the euro. For Gulf oil producers, most of whose currencies are pegged to the US currency, the weaker dollar poses a challenge. “The dollar has been part of the collateral damage as investors […]

Talabat was listed on the DFM in December 2024, raising $2 billion

Ramadan sales support Talabat’s top-line growth

Talabat, the Dubai-listed online food ordering and delivery company, said its top line rose more than a quarter in the first three months of this year, supported by growth in the grocery and retail segments during the holy month of Ramadan. Net profit nearly tripled to $103 million in January to March period from $24 […]

Emarat petrol station in Dubai City. Emarat is teaming up with Crypto.com to offer cryptocurrency payment options at their service stations

Emarat customers can soon use crypto to pay for gas

Customers at some of Emarat’s service stations across the UAE will soon have the option to pay for their gas and snacks in cryptocurrencies. Emarat has partnered with UAE crypto trading platform Crypto.com to allow merchants to use cryptocurrencies at their checkouts, the company announced on LinkedIn this week. Initially, 10 service stations will be […]

A supermarket owner in Cairo stocks a fridge. Egypt and Turkey helped power 11 percent revenue growth in PepsiCo’s international beverages business

Gains in Egypt and Turkey help PepsiCo profit

Revenue growth at PepsiCo Inc.’s Europe, Middle East and Africa (Emea) division outpaced all its other regional divisions in the first quarter, lifted by stronger demand in Egypt and Turkey.  However, the US snacks and drinks company trimmed its full-year profit outlook and warned of rising global trade costs. The maker of Pepsi, Gatorade and […]

Government ecommerce reforms in Turkey have decreased the duty free amount on foreign purchases to just €27

New ecommerce rules spur cost-benefit debate in Turkey

Turkish officials have denied media reports that they were about to block access to the popular Chinese online shopping platform Temu after it allegedly failed to comply with new regulations governing ecommerce. This has highlighted the debate in Turkey around the cost and benefit for the multi-billion dollar industry following this month’s introduction of the […]

A shop in the Gold Souk in Deira, Dubai. Sellers are suffering as the price of gold continues to soar

Gold’s record run brings little joy for Dubai jewellers

In the bustling Gold Souk in Dubai, dubbed the “City of Gold”, 22-karat gold jewellery is a traditional favourite for weddings, religious celebrations, and as a family investment. Yet with bullion prices hitting record highs above $3,400 an ounce, there are signs of change, as buyers opt for diamonds and lighter gold jewellery instead. While […]

Bateel says it wants to double the number of organic date palm trees it cultivates in Saudi Arabia

Luxury food producer Bateel seeks to triple in size by 2029

Bateel International, the Dubai-headquartered luxury food group that owns 40 international boutiques and 30 cafés, plans to double the number of organic date palm trees it cultivates in Saudi Arabia and to build a new factory in the kingdom to meet growing global demand. The company, which was founded by the Saudi Al Sudairy family […]

A Zara store in London. Azadea operates Zara franchises in the Middle East and plans to focus on expansion

Dubai Holding-backed retailer Azadea puts IPO on hold

Azadea Group, which is backed by an investment company owned by Dubai’s ruler Sheikh Mohammed bin Rashid Al Maktoum, has put its initial public offering on the back burner, it has been reported. Dubai Holding acquired a minority stake in the Beirut-based retailer in 2018, valued at $1 billion. The IPO pause is not down to […]

ADVA has applied for Egypt’s first digital consumer finance license, which will reduce barriers to access for more than 50 million underbanked Egyptians

IHC unit enters Egypt’s consumer finance sector

2PointZero, a subsidiary of Abu Dhabi-listed International Holding Company (IHC), has acquired ADVA, an Egyptian consumer finance company. The buyout by Maseera Holding for Financial Investments (Maseera), a subsidiary of 2PointZero, is part of its parent company’s $1 billion investment plan, the state-run Wam news agency reported. ADVA will be Maseera’s technology and data analytics […]

UAE sales of beauty products during Ramadan have risen by over 20 percent year on year

UAE beauty industry benefits from Ramadan sales bump

The UAE’s beauty industry has posted a major increase in revenue during the holy month of Ramadan. Cosmetics and personal care product sales have soared as consumers prioritise festive glamour for nightly iftars and Eid celebrations. UAE Ramadan sales are expected to hit $10 billion this year, with beauty products leading growth at over 20 […]

Profit is down at Majid Al Futtaim, which runs malls including the City Centre Bahrain

Majid Al Futtaim reports 6% profit drop as sales slow

Shopping mall owner Majid Al Futtaim has reported a drop in profit for 2024, attributing the decline to lower retail revenue, a higher tax burden and currency devaluation in some of its international markets. Total revenue fell 2 percent to AED33.9 billion ($9.2 billion) and profit dropped 6 percent to AED2.5 billion in 2024, MAF […]

BİM is one of four leading Turkish FMCG retailers under investigation by the country's competition watchdog

Watchdog investigates four of Turkey’s biggest retailers

Turkey’s competition watchdog is carrying out an investigation into four of the country’s five biggest retailers by sales, the supermarket group Carrefour, the discount store chain BİM, the supermarket chain Migros and the discount store group Şok.  Their shares on the Boursa Istanbul fell by as much as 6.3 percent on Monday, the day the […]

A duty-free shop at Saudi Arabia's King Khalid International Airport

PIF launches Saudi Arabia’s first duty-free retailer

The Public Investment Fund (PIF) has launched Saudi Arabia’s first duty-free operator as the kingdom targets 150 million annual visitors by the end of the decade, according to a statement. Al Waha Duty-Free Company (Al Waha), a wholly owned unit of the sovereign fund, aims to secure a “large” share of passenger spending to boost […]

A woman in a headscarf loads groceries into the back of a car. Saudi consumer spending rose as shoppers stocked up ahead of Ramadan

Ramadan sharply boosts Saudi consumer spending

Saudi consumers increased spending to one of its highest ever weekly levels as they rushed to build up food supplies ahead of the fasting month of Ramadan, local figures show. Consumer spending in the largest Arab economy soared by 35 percent to 17.6 billion riyals ($4.7 billion) in the period February 23 to March 1, […]