Majid Al-Futtaim expands luxury retail footprint in region

The expansion will include five standalone Eleventy stores, the regional debut of Corneliani, and the first Poltrona Frau store outside the UAE in Saudi Arabia.
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Updated 12 April 2025
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Majid Al-Futtaim expands luxury retail footprint in region

Majid Al-Futtaim has announced an ambitious expansion of its luxury retail portfolio for 2025. Following a record-breaking 2024, which saw a 26 percent growth in its lifestyle business, the expansion will be anchored by renowned Italian brands Eleventy, Corneliani, and Poltrona Frau, with a series of store openings planned across key locations in Saudi Arabia and the UAE.

As part of its strategic growth agenda, Majid Al-Futtaim will launch more than 30 new stores, spanning both luxury and high- street brands across the region. The expansion will include five standalone Eleventy stores, the regional debut of Corneliani, and the first Poltrona Frau store outside the UAE in Saudi Arabia.

Fahed Ghanim, CEO of Majid Al-Futtaim Lifestyle, said: “In a region where customers have an abundance of choice, our ambition is to curate a portfolio of luxury brands that offer something truly distinctive. By introducing brands like Eleventy, Corneliani, and Poltrona Frau, we are bringing new dimensions to the luxury market — combining timeless craftsmanship with modern sensibilities that resonate with the refined tastes of our customers.”

He added: “At Majid Al-Futtaim, our work with luxury brands has been deeply rooted in THAT Concept Store, which has been instrumental in identifying and nurturing brands with the potential to thrive in this market. Eleventy’s journey, from its initial shop-in-shop to standalone stores, is a testament to how we test, scale, and grow global luxury brands. This strategic approach allows us to continuously evolve the luxury retail experience, delivering fresh, distinctive offerings that resonate with our customers.”

The five standalone Eleventy stores opening in key locations this year include Solitaire Mall in Saudi Arabia, Mall of the Emirates, Marsa Al-Arab, which all open this month, with Dubai Mall and The Grove in the UAE to follow later in the year. This growth builds on Eleventy’s successful presence in the region, which includes a shop-in-shop at THAT Concept Store, a pop-up at Mall of the Emirates, and its first standalone location in Marina Mall Abu Dhabi, which opened in November 2024.

Majid Al-Futtaim is further strengthening its partnership with Poltrona Frau, the iconic Italian luxury furniture brand, by introducing its first store in the region outside the UAE at Centria Mall, Riyadh, in May. Poltrona Frau achieved remarkable success in 2024, with its revenue increasing fivefold following the launch of its second UAE store at Mall of the Emirates

Italian luxury menswear brand Corneliani also made its regional store debut in April at Solitaire Mall in the Kingdom. Corneliani is one of Italy’s oldest independent luxury brands, renowned for its meticulous craftsmanship and presence in more than 70 countries.

Marco Baldassari, co-founder and menswear creative director at Eleventy, said: “Eleventy’s philosophy of understated elegance and commitment to sustainability resonates strongly with the sophisticated Middle Eastern consumer. We are excited to strengthen our partnership with Majid Al-Futtaim, whose visionary approach to luxury retail is shaping a new vision with a growing focus on customer needs. Together, we aim to redefine luxury retail by offering timeless craftsmanship, sustainable practices, and innovative experiences.”

Nicola Coropulis, CEO of Poltrona Frau, said: “Since partnering with Majid Al-Futtaim more than two years ago, we have focused on strategic growth and elevating the customer experience across the region. The revitalization of our flagship store in Jumeirah and our successful debut at Mall of the Emirates have been key milestones in our journey. We are now excited to bring this momentum to the Kingdom of Saudi Arabia with our first store in Riyadh, further solidifying our presence in the GCC and expanding our reach in this dynamic market.”

Majid Al-Futtaim’s expansion in luxury retail builds on a record-breaking 2024, which saw a 26 percent increase in revenue across its portfolio and a 31 percent surge in digital sales. The year also marked the opening of 17 new stores across the region, bringing the total to 87 stores, including flagship locations for brands such as lululemon, Psycho Bunny, Shiseido, Crate and Barrel, and CB2, alongside 27 e-commerce platforms. Looking ahead, 2025 is set to be another milestone year for its lifestyle business, with plans to open 30 new stores across the region, including seven in Saudi Arabia — a key priority market for the group.


Kingdom warns of scammers offering fake Hajj visas and permits

Updated 37 min 32 sec ago
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Kingdom warns of scammers offering fake Hajj visas and permits

As the Hajj season approaches, advertisements from fraudulent agencies targeting pilgrims are on the rise. These agencies falsely claim to offer enticing Hajj packages at attractive prices and luxurious services, along with fake promises of issuing Hajj visas. In reality, these offers are mere illusions designed to exploit the money of unsuspecting pilgrims. 

Government authorities emphasize the importance of dealing only with official channels. The Ministry of Hajj and Umrah has said that the only approved visa for performing the Hajj pilgrimage is the Hajj visa itself — no other type of visa is accepted. 

The Hajj permit is issued exclusively through the Nusuk app or the Permits Platform (Tasreeh), which was launched to provide a comprehensive religious experience for all pilgrims, whether inside or outside the Kingdom. The ministry warned that dealing with any entity other than Nusuk puts the pilgrim at risk of losing their opportunity to perform the pilgrimage. 

In this context, the Ministry of Interior has announced the enforcement of legal penalties against anyone attempting to sneak into Hajj or enter the holy sites without a permit. Violators will face a fine of up to SR20,000 ($2,666), in addition to deportation for expatriates and a 10-year ban from entering the Kingdom. 

A financial penalty of up to SR100,000 will be imposed on anyone who assists or shelters holders of visitor visas, whether in hotels, apartments, private residences, shelters, or housing sites for pilgrims. The fines will multiply with each violation.

The Saudi security forces have already arrested numerous individuals of various nationalities involved in fraudulent activities, including posting misleading advertisements for fake Hajj campaigns. These scams promised pilgrims accommodation, transportation within the holy sites, and even the issuance of visit visas. 

The Kingdom continues to enhance public awareness by launching educational campaigns aimed at raising pilgrims’ awareness and curbing fraudulent activities.

Concerned authorities receive reports of fraud and Hajj regulation violations through: 

  • 330330 for fraud-related SMS messages. 
  • 911 for Hajj regulation violations in Makkah, Madinah, Riyadh, and the Eastern Province. 
  • 999 for the rest of the Kingdom’s regions. 
  • 1966 for complaints and reports from pilgrims

All these efforts ensure the safety of pilgrims and secure performance of Hajj rituals.


Resecurity and Starlink Announces Strategic Cybersecurity Partnership at GISEC Global 2025

Updated 18 May 2025
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Resecurity and Starlink Announces Strategic Cybersecurity Partnership at GISEC Global 2025

Resecurity, a global cybersecurity leader, has partnered with Starlink to expand advanced threat protection across the region. A subsidiary of Ooredoo Group, Starlink has more than 18 years of experience in Qatar’s ICT and mobile accessories market. Starlink’s ICT Distribution focus areas include cybersecurity, cloud, datacenter, AI, networking and physical security. This partnership brings together deep expertise and innovation to deliver tailored, future-ready security solutions for today’s evolving digital challenges.

Through this partnership, Resecurity’s cutting-edge cybersecurity solutions will be integrated into Starlink’s extensive distribution network, enabling organizations across the META region to proactively detect, analyze, and respond to cyberthreats. The collaboration focuses on delivering technologies and services that enhance digital resilience and protect against evolving cyberthreats.

“Our partnership with Starlink represents a significant step in our mission to provide advanced cybersecurity solutions across the META region,” said Gene Yoo, CEO of Resecurity. “By combining our expertise with Starlink’s extensive regional presence, we aim to empower organizations to proactively address cyberthreats and enhance their security posture.”

“Collaborating with Resecurity allows us to expand our cybersecurity portfolio and offer our clients innovative solutions that address the dynamic threat landscape,” said Cyril Anand, CEO of Starlink Qatar. “Together, we are committed to delivering technologies that not only protect but also empower businesses to thrive in a secure digital environment.”

The partnership was officially announced during GISEC Global 2025, the region’s premier cybersecurity event held at the Dubai World Trade Centre, serving as a launch platform for strategic cybersecurity collaborations.


Hilton to hit 100-hotel milestone in Saudi Arabia

Updated 17 May 2025
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Hilton to hit 100-hotel milestone in Saudi Arabia

Hilton is set to hit the milestone of 100 hotels trading and in the pipeline in Saudi Arabia this year — reaffirming its long-term commitment to growth across the Kingdom. The global hospitality company continues to introduce more of its award-winning brands to the country, with 14 brands trading and in the pipeline, and has announced multiple new signings with plans to add more than 21,000 rooms in locations across the country.

Guy Hutchinson, president, Middle East and Africa, Hilton said: “Saudi Arabia is undergoing a remarkable transformation, and we are proud to be playing a leading role in it becoming a top global tourism destination. The Kingdom offers a unique blend of rich cultural heritage, natural landscapes, and modern lifestyle developments. Our diverse portfolio — spanning luxury and lifestyle, through to premium economy and midscale brands — will help broaden the appeal for today’s discerning travelers. In line with Saudi Vision 2030, our growing hotel pipeline is set to generate over 15,000 job opportunities, with a significant focus on employing Saudi nationals.”

Commenting on Hilton’s momentum in the Kingdom, Carlos Khneisser, vice president, development, Middle East and Africa, Hilton, said: “We are excited about reaching 100 hotels trading and in the pipeline in Saudi Arabia, as we continue to diversify our footprint and introduce more of our global brands across both established and emerging destinations. Our continued partnership with Al-Musbah Group is testament to this growth and our commitment to supporting private sector development in the Saudi tourism industry. We are proud to have Al-Musbah Group as part of our highly valued ownership community and to be working with them to introduce the region’s first Spark by Hilton in Makkah. With two-thirds of our pipeline in Saudi Arabia already under construction, we look forward to continuing our work with new and existing owners to deliver more hotels at all price points for guests across the Kingdom.”

The new signing marks the debut of Hilton’s premium economy brand, Spark by Hilton, in the Middle East and Africa. Since its launch in 2023, Spark by Hilton has been at the forefront of innovation and is uniquely positioned to grow and scale quickly. Offering a simple, inspired design, comfortable guest rooms and a complimentary breakfast, the conversion-friendly, premium economy brand delivers reliable essentials and friendly service for every guest at an accessible price point.

Spark by Hilton Makkah Aziziyah

Spark by Hilton Makkah Aziziyah is set to open later this year, marking the brand’s debut in the MEA region. The 329-guest room property will offer twin-bed and triple-bed guest rooms.

Located to the east of Masjid Al-Haram in Makkah’s Aziziyah district, near the religiously significant area of Mina, a key site during Hajj with direct train access to Arafat, the hotel is ideally situated to serve pilgrims. The site is surrounded by commercial outlets and hotels that cater to religious travelers year-round. Developed by Al-Musbah Group, Spark by Hilton Makkah Aziziyah is one of several Hilton projects underway with the group across Makkah, Madinah, and Dammam.

Spark by Hilton adds to Hilton’s growing midscale presence across established and up-and-coming cities in the Kingdom, complementing existing brands such as Hampton by Hilton and Hilton Garden Inn, which together account for one-third of the company’s hotel pipeline. Recent signings include Hampton by Hilton and Hilton Garden Inn properties in Jeddah, Jazan, and Abha, as well as at the NEOM Community site. In Makkah, Hilton is partnering with Umm Al-Qura for Development and Construction Company to open the world’s largest Hilton Garden Inn, featuring 1,560 guest rooms.

Hilton has also partnered with Knowledge Economic City to open the region’s first Home2 Suites by Hilton in the Middle East in Madinah, alongside properties under the Hilton Garden Inn and Hampton by Hilton brands.


SAB first in Kingdom to earn CIPS Gold Award

Updated 17 May 2025
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SAB first in Kingdom to earn CIPS Gold Award

Saudi Awwal Bank, one of the Kingdom’s leading financial institutions, has become the first Saudi entity and the 11th worldwide to be awarded the Gold Certification from the Chartered Institute of Procurement and Supply under its global Procurement Excellence Programme.

This recognition highlights SAB’s leadership and ongoing commitment to embedding global standards in procurement and supply chain practices. It reflects the bank’s strategic focus on governance, ethical sourcing, and sustainable procurement, all central to SAB’s broader vision of operational excellence and innovation.

The Gold Award is one of the highest levels of certification offered by CIPS and is awarded to organizations that demonstrate robust procurement leadership, effective integration across the business, and strong performance management aligned with global best practices.

Ghada Al-Jarbou, chief operating officer at SAB, said: “The CIPS Advanced Gold Certification validates the strength of our procurement transformation. It reflects our focus on building robust governance, enhancing operational efficiency and ensuring our procurement function supports long-term innovation and resilience. This achievement demonstrates SAB’s commitment to operational excellence and strategic growth, which in turn strengthens our ability to deliver sustainable value to our employees, customers and shareholders.”

Ben Farrell, CIPS CEO, said: “This is a proud moment for SAB and a milestone for the wider procurement profession in the Kingdom. SAB’s achievement of the CIPS Gold Award is a clear indication of its commitment to placing procurement at the center of business strategy and transformation. This award recognizes SAB’s excellence in governance, strategic alignment, and operational delivery.”

The CIPS Procurement Excellence Programme is an internationally recognized framework used by public and private sector organizations worldwide to benchmark, assess and enhance their procurement functions. It evaluates performance across leadership, strategy, people, process, and systems — providing a roadmap for continuous improvement.


Lulu reports Q1 2025 revenue of $2.1 billion, up 7.3% year-on-year

Updated 15 May 2025
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Lulu reports Q1 2025 revenue of $2.1 billion, up 7.3% year-on-year

Lulu, the largest and fastest-growing pan-GCC full-line retailer, has announced its financial results for the three months ended 31 March.

Its key highlights are: 

  • Q1 2025 revenue of $2.1 billion, up 7.3% YoY, with like-for-like sales up 3.6% YoY driven by strong sales during Ramadan and volume growth in certain product categories.
  • EBITDA of $214.1 million, up 6.4% YoY, with EBITDA margin of 10.3%, stable vs. Q1 2024.
  • Net profit of $69.7 million, up 15.8% YoY, with net profit margin of 3.4%, up 25 bps vs. Q1 2024.
  • Good strategic progress with five new stores opened in Q1 2025 including in Makkah and Madinah, with the target for 20 new stores in 2025 unchanged.
  • E-commerce sales grew strongly, up 25.3% YoY to $93.4 million; now 4.7% of retail revenue.
  • Strong growth in revenue from Private Label products, up 9.5% YoY; 29.3% of retail revenue.
  • Happiness loyalty program members reached c.6.3 million in Q1 vs. c.5.5 million in FY24; linked to 65% of sales.

Saifee Rupawala, chief executive officer of Lulu, said: “We are pleased to have demonstrated good growth in the first quarter of this year, with revenue up 7.3% YoY.

"This was underpinned by a combination of like-for-like sales growth, supported by strong trading during the Ramadan period, and our store rollout program, which remains well on track with five stores opened in the quarter, in line with our plan to roll out a total of 20 stores in 2025.

"The first quarter also saw Lulu make good progress on delivering on our overall growth strategy, supported by robust sales in Private Label and e-commerce, which remain key components of our strategy.”

Rupawala added: “Looking ahead, we expect our growth momentum to continue as we remain focused on several initiatives under each of our four key pillars, including driving growth in existing store network, opening new stores, driving operational efficiencies and delivering further upside through our private label and e-commerce offerings.

"Overall, we are pleased with the performance in the first quarter, marking a good start to 2025, and we look forward to continuing to deliver on our strategy throughout the rest of the year.”

Financial summary

  • Fresh food category revenue grew 7.9% YoY in the first quarter, driven by the Ramadan period, improved consumption trends. 
  • The electrical goods category witnessed revenue growth of 29.0% YoY, mainly due to an increase in sales across higher value items. 
  • Lifestyle products grew 6.9% YoY despite pressure as customers opted for more value products. 
  • Consumer Packaged Goods sales grew steadily at 1.4% YoY, with the sales increase mainly driven by strong volume growth, which was partly offset by some pricing pressure as a result of promotional campaigns.
  • E-commerce remains an important component of Lulu’s growth strategy, with sales +25.3% YoY and customer count +26.1% YoY.

Lulu delivered revenue growth across all segments in Q1 2025, with particularly strong performances in Saudi Arabia and Oman.

  • The UAE, Lulu’s largest market, recorded a mid-single-digit revenue increase of 5.2% YoY, led by particularly strong performance in the fresh food segment, which grew 15.6% YoY. This was further supported by strong e-commerce sales in the UAE, which saw robust growth, rising 40.1% YoY, supported by an increase in sales through aggregators. 
  • In Saudi Arabia, revenue rose by 10.3% YoY, primarily driven by new store openings in the last 12 months and strong LFL growth.

Other key markets also delivered solid results in Q1 2025, with revenue in Oman increasing 7.8% YoY as a result of strong growth in the electrical goods product category, Qatar up 6.7% YoY following a good trading period during festive season, and Kuwait up 4.8% YoY, with supermarket sales contributing c.50% of overall growth in the region, further supported by a strong uptick in e-commerce sales.

Gross profit increased 4.0% YoY to $464.5 million, with gross margins reaching 22.3% in the period, down 70 basis points compared to the prior year.

This margin reduction was mainly due to promotional campaigns to drive higher footfall into Lulu stores during the festive period.

EBITDA grew 6.4% YoY to $214.1 million, supported by improved operational cost efficiencies, which helped offset the lower gross margin.

As a result, Q1 2025 EBITDA margin remained broadly stable at 10.3% compared to 10.4% in Q1 2024. On a post-lease expense basis, EBITDA margin improved by approximately 8 bps, reflecting Lulu’s continued operational discipline.

Net profit increased by 15.8% to $69.7 million, with net profit margins improving by 25 basis points as a result of stronger EBIT margin and lower interest expense, despite higher taxes in the period.

During the quarter, net debt decreased to $2.3 billion, with net debt/EBITDA improving from 3.2x in December 2024 to 2.9x at the end of Q1 2025. Excluding lease liabilities, leverage improved from 1.3x to 0.9x over the same period.

Lulu continues to make good progress on delivering on its growth strategy, having rolled out five new stores in the period, delivered good LFL growth within its existing stores and also benefiting from further upside opportunities across Private Label and e-commerce sales.

During Q1 2025, Lulu opened two hypermarkets and three express stores, adding 22,339 square meters of retail space in the period, with the company’s total retail space up 2% to 1.34 million square meters, as at the end of Q1 2025.

Within this, Lulu was pleased to open an over 10,000 square meter hypermarket in Makkah and an express store in Madinah, two uniquely located stores with high footfall given the proximity to holy sites.

In addition to the two stores in KSA, Lulu also opened two express stores in the UAE, alongside a hypermarket in Bahrain. Lulu remains on track with its store rollout plans, with the company expecting to open a total of 20 stores in 2025, with the remaining 15 stores expected to open over the year.

Lulu is also pleased to have signed a memorandum of understanding with Awqaf Dubai for the development of a group of retail stores as part of Dubai’s endowment projects.

Under the partnership, Lulu will collaborate with Awqaf Dubai on upcoming community projects to develop shopping facilities that will better serve and enhance the retail experience of residents and visitors, while also contributing to Awqaf’s broader social and economic objectives.

Following the successful rollout of its loyalty program across all regions in 2024, Lulu’s Happiness Loyalty program continues to see good momentum in new members.