The UAE’s Landmark Group plans to invest $1 billion over the next three years to open 400 new shops in the Gulf, India and South-east Asia as it bets on continued strong demand for bricks-and-mortar retail.
The planned three-year investment in shops will expand the company's retail footprint by 20 per cent by 2028, Landmark Group said in a statement on Tuesday. The retailer will also invest in e-commerce, supply chain and technology as it seeks to boost revenue across all markets.
"Physical stores remain a vital part of the retail experience and we continue to upgrade store design while we invest in e-commerce and in the latest technology and innovation," said Renuka Jagtiani, chairwoman of Landmark Group. "We believe that this is key to staying relevant to ensure a seamless customer experience, both on and offline."
The retailer's online business is growing by more than 20 per cent per year and the company is recording "great momentum" with its shops, said Kabir Lumba, chief executive of Landmark Retail.
The expansion comes as the Gulf retail industry has been projected to expand at a compounded annual rate of 4.6 per cent between 2023 to 2028, with the UAE and Saudi Arabia leading the region’s growth, a report by advisory Alpen Capital found in September.
Retail sales in Saudi Arabia and the UAE are projected to grow at an annual rate of 5.1 per cent and 5.4 per cent to reach $161.4 billion and $139.1 billion, respectively, during the period, the report found. Growth drivers include an expanding population base and strong infrastructure that makes each country a top international shopping destination. The Arab world's two biggest economies are expected to cumulatively account for 77.7 per cent of the total Gulf's retail sales by 2028, Alpen Capital said.
Landmark Group was founded in 1973 with a shop in Bahrain by businessman Micky Jagtiani – who died in May 2023 – and has since expanded into one of the largest retail and hospitality conglomerates in the Middle East and India. The group owns and runs 22 home-grown brands across a network of more than 2,200 outlets, spanning a gross leasable area of 33 million square feet in 17 countries.
It has more than 53,000 employees across brands including Centrepoint, Babyshop, Splash, Lifestyle, Max, Home Centre, Shoemart and Emax. Landmark Group has also diversified into the leisure, fitness and hospitality sectors, with brands including Fitness First, Citymax, Zafran and Carluccio’s.
As part of its latest expansion plans, the group will introduce its grocery brand Viva in Saudi Arabia in 2025, and launch Babyshop in four cities in India over the next six months, Landmark Group said.
The group, which runs 12 independent e-commerce shops that account for 20 per cent of total sales, currently has 12 million square feet of warehousing and distribution capacity, with high automation capabilities. This includes its $350 million flagship depot in Jebel Ali.
Landmark also established Logistiq in 2022, a third-party logistics company, that caters to clients outside the group. “In just 18 months, we have rapidly scaled our last-mile delivery services to handle over 20,000 daily shipments across [Saudi Arabia] and UAE for more than 50 clients, with a fleet of over 800 vehicles,” Mr Lumba said.
“Looking ahead, our vision is to build a leading logistics business by developing our end-to-end supply-chain offering, including freight, warehousing and cross-border delivery solutions; while expanding our coverage across the GCC.”
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
'Munich: The Edge of War'
Director: Christian Schwochow
Starring: George MacKay, Jannis Niewohner, Jeremy Irons
Rating: 3/5
JAPAN SQUAD
Goalkeepers: Masaaki Higashiguchi, Shuichi Gonda, Daniel Schmidt
Defenders: Yuto Nagatomo, Tomoaki Makino, Maya Yoshida, Sho Sasaki, Hiroki Sakai, Sei Muroya, Genta Miura, Takehiro Tomiyasu
Midfielders: Toshihiro Aoyama, Genki Haraguchi, Gaku Shibasaki, Wataru Endo, Junya Ito, Shoya Nakajima, Takumi Minamino, Hidemasa Morita, Ritsu Doan
Forwards: Yuya Osako, Takuma Asano, Koya Kitagawa
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Tree of Hell
Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla
Director: Raed Zeno
Rating: 4/5
Abu Dhabi GP schedule
Friday: First practice - 1pm; Second practice - 5pm
Saturday: Final practice - 2pm; Qualifying - 5pm
Sunday: Etihad Airways Abu Dhabi Grand Prix (55 laps) - 5.10pm
Stage result
1. Jasper Philipsen (Bel) Alpecin-Fenix 4:42:34
2. Sam Bennett (Irl) Bora-Hansgrohe
3. Elia Viviani (Ita) Ineos Grenadiers
4. Dylan Groenewegen (Ned) BikeExchange-Jayco
5. Emils Liepins (Lat) Trek-Segafredo
6. Arnaud Demare (Fra) Groupama-FDJ
7. Max Kanter (Ger) Movistar Team
8. Olav Kooij (Ned) Jumbo-Visma
9. Tom Devriendt (Bel) Intermarché-Wanty-Gobert Matériaux
10. Pascal Ackermann (Ger) UAE Team Emirate
BMW%20M4%20Competition
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E3.0%20twin-turbo%20inline%20six-cylinder%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%3C%2Fstrong%3E%20eight-speed%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E503hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20600Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20from%20Dh617%2C600%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%0D%3C%2Fp%3E%0A
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Results
Male 51kg Round 1
Dias Karmanov (KAZ) beat Mabrook Rasea (YEM) by points 2-1.
Male 54kg Round 1
Yelaman Sayassatov (KAZ) beat Chen Huang (TPE) TKO Round 1; Huynh Hoang Phi (VIE) beat Fahad Anakkayi (IND) RSC Round 2; Qais Al Jamal (JOR) beat Man Long Ng (MAC) by points 3-0; Ayad Albadr (IRQ) beat Yashar Yazdani (IRI) by points 2-1.
Male 57kg Round 1
Natthawat Suzikong (THA) beat Abdallah Ondash (LBN) by points 3-0; Almaz Sarsembekov (KAZ) beat Ahmed Al Jubainawi (IRQ) by points 2-1; Hamed Almatari (YEM) beat Nasser Al Rugheeb (KUW) by points 3-0; Zakaria El Jamari (UAE) beat Yu Xi Chen (TPE) by points 3-0.
Men 86kg Round 1
Ahmad Bahman (UAE) beat Mohammad Al Khatib (PAL) by points 2-1
Men 63.5kg Round 1
Noureddin Samir (UAE) beat Polash Chakma (BAN) RSC Round 1.
Female 45kg quarter finals
Narges Mohammadpour (IRI) beat Yuen Wai Chan (HKG) by points.
Female 48kg quarter finals
Szi Ki Wong (HKG) beat Dimple Vaishnav (IND) RSC round 2; Thanawan Thongduang (THA) beat Nastaran Soori (IRI) by points; Shabnam Hussain Zada (AFG) beat Tzu Ching Lin (TPE) by points.
Female 57kg quarter finals
Nguyen Thi Nguyet (VIE) beat Anisha Shetty (IND) by points 2-1; Areeya Sahot (THA) beat Dana Al Mayyal (KUW) RSC Round 1; Sara Idriss (LBN) beat Ching Yee Tsang (HKG) by points 3-0.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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Mohammed bin Zayed Majlis
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