Egypt: Dubai Retail Giant Landmark Will Add 20 Stores

Dubai's famous retail group

It is announced that 20 stores will be opened in Egypt within the next two years.

As early as a few years ago, Landmark had entered the Egyptian market, but because of the political turmoil in the country, it has been unable to expand its pace.

Now, Egypt's political situation is stable, which indicates good business opportunities. Landmark will roll up its sleeves and make a big fight.

According to recent reports, according to Landmark Group CEO Vipen Sethi, the investment amount will reach 4-5 billion UAE de la (about 6.668-8.35 billion yuan).

"We are going to set up a branch in Cairo and observe the market reaction, so we can decide whether to expand the scale according to the original plan."

Vipen Sethi said.

It has been 5 years since the establishment of Landmark group in Egypt. However, the development of the company has been hampered by the political turmoil in Egypt in the past 5 years.

However, because of the recent improvement in Egypt and the stable political trend, which indicates good business opportunities, Landmark group has decided to set up 20 branches to expand its influence in the Egyptian retail industry.

In 2009, Landmark bought more than 150 thousand square feet in the center of Alexander, Egypt.

It also brings together famous retail brands such as department store Centrepoint, Homecentre, exclusive furniture and household products, fashion retail giant New Look, and so on.

The Landmark group also hopes to resume its market in the city of Iraq and the Iraqi Kurdistan, which first entered the market in the three years ago and the Iraqi Kurdistan. However, due to political reasons, there is still no big development.

"The political situation there is expected to improve, so we look forward to re entering the battle."

Sethi said.

Moreover, the Landmark group also has plans to enter the market in Algeria, Morocco and Tunisia.

It is expected that about 200 stores will be opened in these locations, covering all the brands.

According to Sethi, by 2020, the retail industry in Dubai will grow at an annual rate of 15-20%.

Landmark group, headquartered in Dubai, is the largest retail group in the Middle East.

Since its establishment in 1973, the group has been expanding globally at an extremely fast pace.

At present, the group has more than 40000 employees in 15 countries and operates over 1000 large international franchised enterprises, with an annual turnover of more than 4 billion 700 million US dollars.

Its business includes children, furniture, home,

There are many traditional retail products such as men's and women's wear. Meanwhile, the group has expanded its business to leisure, entertainment, catering, hotels and electronics.

Since its development, the group has formed its own comprehensive logistics, distribution and retail organizational structure, effectively supporting the rapid development of the group's overall retail operations and other businesses.

In recent years, Landmark has also developed rapidly in China. Shanghai Lanma Trade Co., Ltd. is Landmark's head office in mainland China.