The Dubai-based Landmark Group is set to invest $1 billion (Dh3.67 billion) across the UAE, GCC, India, and Southeast Asia to establish 400 new stores within the next three years, thereby generating numerous job opportunities. During a press conference held in Dubai on Tuesday, Renuka Jagtiani, the chairwoman of Landmark Group, revealed that the company will also allocate funds towards e-commerce, supply chain improvements, and technological advancements to enhance revenue, which surpassed $7 billion during the 2023-24 fiscal year.

"We have been steadily growing and reinvesting in our operations. Over the next three years, we plan to invest over $1 billion to launch 400 new stores. Additionally, we will be focusing on e-commerce, supply chain enhancements, and technology to continuously innovate and upgrade our business models. E-commerce is a significant component of our strategy, operating 12 platforms across the Middle East and India," Jagtiani stated during the conference.

Founded in Bahrain in 1973, the retail behemoth currently operates 2,200 stores across the UAE, GCC, and other Asian nations, employing 53,000 staff. The group manages 22 brands and has a presence in 17 countries. Kabir Lumba, CEO of Landmark Retail, was also present at the conference.

According to Alpen Capital, retail sales within the GCC are anticipated to expand at a Compound Annual Growth Rate (CAGR) of 4.6% to reach $386.9 billion by 2028, up from $309.6 billion in 2023. This growth is expected to be fueled by population increases, rising per capita incomes, and enhanced tourism activities. E-commerce is projected to remain pivotal as new players emerge and niche platforms adopt innovative business models, intensifying competition in the GCC retail sector.

"We have heavily invested in products and the supply chain. We manage 12 million sqft of warehouse space. In Jebel Ali, we established a $350 million Mega Distribution Centre, a state-of-the-art semi-automated facility. We firmly believe in the importance of brick-and-mortar stores; hence, we will continue to invest in our physical outlets. We are also focusing on new designs for Max and Home Centres," the Landmark Group chairwoman explained.

The company also plans to extend its supermarket brand, Viva, into Saudi Arabia, with the intention of opening 25 stores. "In the next six months, we aim to launch eight Baby Shop outlets in India. We also identify potential in logistics and last-mile delivery services. Given our presence in countries experiencing robust growth, we are optimistic about the group's future expansion," she added.

However, Renuka Jagtiani dismissed any plans for an initial public offering (IPO), citing the company's robust cash flow. "In just 18 months, we have rapidly scaled our last-mile delivery services to manage over 20,000 shipments across Saudi Arabia and the UAE for more than 50 clients, utilizing a fleet of over 800 vehicles," stated Kabir Lumba.

"Looking forward, our goal is to establish a leading logistics enterprise by enhancing our end-to-end supply chain capabilities, including freight, warehousing, and cross-border delivery solutions," he concluded.

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