MENA: Expansion, market entries, investment plans
Casino set to invest in the Middle East and North Africa
France-based Casino has said that it is investigating further opportunities to invest in the Middle East and North Africa during 2015 in order to add to its presence of 110 stores and in an attempt to benefit from markets it believes ‘have [a] strong growth potential’. In 2015 the retailer said it is planning to add five stores in the UAE, including three hypermarkets, and 10 stores in Tunisia.
Waitrose to add store in Dubai
Waitrose has been confirmed as the anchor tenant in the Circle Mall in Dubai’s Jumeirah Village. The supermarket, which will be part of a development of 200 stores, will be opened as and when the shopping centre is finished, with work only set to begin in Q1 2015.
Monoprix franchisee for Tunisia makes management changes
Tunisia-based SNMVT-Monoprix, which operates the fascia in the market, has announced that it has appointed Mohamed Mounir Ben Miled as chairman and that it has formed a land holding, which will purchase the real estate assets of the Monoprix Group in Tunisia. SNMVT said that the acquisition of the real estate will enable it to accelerate the development of the brand in the market and release capital gains for the wider company. The company will be hoping that it will be able to build on the 8.9% sales growth it enjoyed during the third quarter of 2014, when it generated sales worth TND370.6 million (US$196.4 million).
Carrefour to re-enter Algeria
Carrefour has announced that it is planning to re-enter Algeria during 2015 with the opening of a new hypermarket in March. The retailer has said that the new store will see it and its joint venture partner, Algeria-Saudi Investment Company (Asicom), invest €10 million in its building, while the hypermarket will be operated by Hyper Distribution Algérie (HDA). With the country facing economic headwinds, brought about by the falling oil price, and high levels of underemployment and unemployment, Carrefour will be looking to the long term for a return on any short term investment it may make.
Al Meera joins loyalty scheme, sets out expansion plans
Qatar-based Al Meera has signed a partnership agreement with Ooredoo that will enable its shoppers to benefit from the latter’s rewards scheme. Ooredoo operates the Nojoom loyalty programme, with members receiving points for the money they spend: one point for every QAR6 (c. US$1.70) for Nojoom Red and Silver members and two points for Gold members spending the same amount. Cardholders will be able to redeem points for Al Meera vouchers that can be spent at the retailer’s stores.
Meanwhile, in a separate announcement, Al Meera has said that it will be opening nine stores in 2015 as part of its expansion strategy. Commenting on the plan, the retailer’s deputy chief executive, Dr Mohammed Nasser Al Qahtani, said: “Our initiative comes as part of Al Meera's keenness to keep strong bonds with its customers… Our goal is to bring everyone close to at least one Al Meera store in Qatar.” Al Meera also said that it would be investing in its existing stores to update them to its new store concept and layout.
