分类: business

  • Lulu Retail plans to open 50 new stores, creating hundreds of job opportunities

    Lulu Retail plans to open 50 new stores, creating hundreds of job opportunities

    Lulu Retail Holdings, the Gulf Cooperation Council’s premier full-line retail conglomerate, has unveiled an ambitious expansion strategy following exceptional financial results for fiscal year 2025. The retail giant reported record-breaking revenues of Dh29.1 billion, marking a 4.1% year-on-year increase, while net profits reached Dh753 million, exceeding previous quarterly projections.

    The company’s growth trajectory will accelerate with plans to establish 50 new retail outlets across key GCC markets between 2026 and 2028. This expansion follows the successful opening of 20 new stores throughout 2025, bringing Lulu’s total operational footprint to 267 stores across the UAE, Saudi Arabia, Kuwait, and Bahrain. The new establishments will encompass various formats including hypermarkets, express convenience stores, and mini-markets, creating hundreds of new employment opportunities throughout the region.

    Digital commerce emerged as a particularly strong performance sector, with e-commerce sales surging 38.6% annually and accelerating to 51.8% growth during the fourth quarter. Online penetration reached 7.3% of total retail sales in Q4, demonstrating robust consumer adoption of digital shopping channels. Investments in proprietary digital infrastructure yielded particularly strong returns, with sales through Lulu’s owned platforms growing at nearly double the rate of third-party aggregator channels.

    The company’s private label portfolio continued to gain market share, accounting for 29.8% of total sales and contributing significantly to both revenue growth and margin enhancement. Financial stability improved with net debt reduction to Dh9.18 billion and enhanced leverage metrics on an IFRS 16 accounting basis.

    Reflecting confidence in continued performance, Lulu’s board announced a second-half dividend of 3.5 fils per share, bringing the total 2025 dividend distribution to 7 fils per share, equivalent to approximately Dh724 million in shareholder returns.

    CEO Saifee Rupawala emphasized the company’s disciplined expansion approach, noting that existing portfolio strength and digital capabilities position Lulu for sustained growth across GCC markets while maintaining attractive shareholder returns through consistent dividend distributions.

  • UAE jobs: Hiring slows as companies invest in upskilling existing staff

    UAE jobs: Hiring slows as companies invest in upskilling existing staff

    A significant transformation is underway in the United Arab Emirates’ employment landscape as organizations increasingly redirect resources toward enhancing their current workforce capabilities rather than expanding headcount through traditional hiring. Recent market analysis reveals that 42% of UAE employers are now prioritizing employee upskilling initiatives over external recruitment, marking a fundamental shift in human resource strategy.

    According to the Hays 2026 US Salary & Hiring Trends Guide, this paradigm shift extends beyond competitive market pressures. Business leaders and hiring managers are deliberately slowing recruitment processes even while maintaining open position listings, reflecting a more cautious and pragmatic approach to workforce development.

    Zaid Alhiali, Co-Founder of Marc Ellis, observes that this strategic reorientation stems from multiple economic factors. “Businesses are navigating tighter budgetary constraints, challenges in attracting suitable talent, and rapidly evolving skill requirements,” Alhiali explained. “Rather than onboarding new personnel and enduring extended acclimatization periods, organizations are choosing to invest in already-trusted employees.”

    The implications for job seekers are substantial, as conventional qualifications and experience alone no longer guarantee employment. Successful candidates now demonstrate ongoing learning initiatives, adaptability, and alignment with immediate organizational needs—particularly in digital competencies, commercial awareness, and leadership capabilities.

    Industry practitioners are already witnessing tangible benefits from this approach. Shabeel Ummer, Head of HR at V Group International Middle East, detailed their implementation strategy: “We concentrate on training sales associates in advanced product knowledge, personalized customer service, and digital sales tools. This enables current staff to manage high-value clients, online orders, and loyalty programs effectively without expanding personnel.”

    This methodology delivers multidimensional advantages, including enhanced customer experiences, improved sales performance, and increased employee retention while maintaining stable operational costs. Karuna Agarwal, Director of Future Tense UAE, emphasizes the value proposition: “Upskilling represents investment in known assets with established organizational familiarity. Employees with proven performance understand company DNA, making them twice as attractive for development compared to new hires.”

    The phenomenon of unfilled positions despite public listings indicates employers’ heightened selectivity and willingness to await ideally qualified candidates. This trend suggests organizations are seeking increasingly specialized skills and industry-specific expertise, with mass hiring initiatives becoming progressively uncommon across sectors.

    HR experts consequently advise job seekers to embrace continuous professional development. Jessie Joy, Head of HR at Magnitude Creative in Abu Dhabi, notes: “Existing employees possess institutional knowledge of systems, clients, and culture. Upskilling closes productivity gaps more rapidly while boosting morale and loyalty through demonstrated investment in growth.”

    This strategic evolution in UAE workforce development reflects a maturation of the regional job market, emphasizing quality over quantity in human capital investment while creating new paradigms for both employer strategy and employee career development.

  • Abu Dhabi’s IHC to launch new holding with $237 billion in assets under management

    Abu Dhabi’s IHC to launch new holding with $237 billion in assets under management

    Abu Dhabi’s International Holding Company (IHC) has announced the creation of a major financial services holding entity, Judan Financial, which will command an impressive $236.88 billion (Dh870 billion) in assets under management. The new conglomerate will consolidate financial assets from IHC, Alpha Dhabi, 2PointZero Group, and Sirius International Holding, spanning diverse sectors including banking and insurance.

    With an estimated valuation of approximately Dh100 billion, Judan Financial will oversee a portfolio of more than 20 operating financial services companies, including the prominent alternative investment firm Lunate. The entity will be chaired by Sheikh Tahnoun bin Zayed Al Nahyan, who serves as the UAE’s national security adviser and also chairs both the Abu Dhabi Investment Authority (ADIA) and IHC.

    Mohamed Hassan Alsuwaidi, the UAE’s investment minister, has been appointed as Chief Executive Officer of Judan Financial. His mandate includes scaling the platform over the next five years and attracting third-party institutional capital. This strategic move follows a significant reorganization last month that saw Abu Dhabi’s newest sovereign wealth fund, L’imad Holding, assume control of ADQ, creating an investment powerhouse chaired by the emirate’s Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan.

  • Dubai’s Damac signs global partnership with Oracle Red Bull Racing for Formula 1

    Dubai’s Damac signs global partnership with Oracle Red Bull Racing for Formula 1

    Dubai’s premier real estate developer Damac Properties has strategically expanded its global sponsorship portfolio through a landmark multi-year partnership with Oracle Red Bull Racing, the championship-winning Formula 1 team. This collaboration represents Damac’s latest move in its calculated globalization initiative following its recent high-profile sponsorship agreement with Chelsea Football Club in April 2025.

    The comprehensive partnership will feature Damac’s branding prominently displayed on the RB22 car’s halo protection system and side pods, while also appearing on team principal and driver equipment including race suits, helmets, and official team kits. This positioning ensures maximum visibility during Grand Prix events across the global F1 calendar.

    Amira Sajwani, Managing Director of Sales and Development at Damac Properties, emphasized the strategic nature of these partnerships: “Our approach has consistently focused on building strong brands through authentic, meaningful collaborations. We’ve established relationships with global leaders across fashion, hospitality, and football. Our alliance with Oracle Red Bull Racing, one of Formula 1’s most successful teams, represents another milestone in this journey.”

    Ali Sajwani, Managing Director of Operations, Finance, and Hospitality, highlighted the personal and strategic significance: “Formula 1 has long been a personal passion, and I fully appreciate the sport’s massive global influence. We deliberately pursue distinctive partnerships that align with our ambition to be market trendsetters rather than followers.”

    Laurent Mekies, CEO and Team Principal of Oracle Red Bull Racing, noted the mutual benefits: “This partnership creates significant opportunities for enhanced global engagement and meaningful impact for both organizations beyond the racetrack.”

    The announcement continues Damac’s pattern of prestigious collaborations, having previously partnered with luxury fashion house Roberto Cavalli and entertainment giant Paramount. The developer’s sponsorship strategy has increasingly focused on global sports properties, as evidenced by last year’s agreement between Samana Developers and UAE’s historic Al Nasr Sports Club.

    This strategic move occurs as Dubai-based property developers increasingly expand their international footprint through both global project developments and high-visibility sponsorship arrangements, signaling the region’s growing influence in international business and sports marketing.

  • Who are new DP World leaders Essa Kazim, Yuvraj Narayan?

    Who are new DP World leaders Essa Kazim, Yuvraj Narayan?

    Dubai-based global logistics leader DP World has initiated a significant executive restructuring, naming financial sector veteran Essa Kazim as its new Chairman and promoting long-serving executive Yuvraj Narayan to Group Chief Executive Officer. The announcement, made on February 13, 2026, marks a strategic repositioning of one of the world’s largest port operators.

    Essa Kazim brings over three decades of distinguished financial expertise to his new role. The Emirati national currently maintains his position as Governor of the Dubai International Financial Centre, a role he has held since January 2014. His extensive career began at the UAE Central Bank in 1988 as a Senior Analyst in the Research and Statistics Department. Kazim’s transformative leadership was demonstrated during his tenure as Director-General of Dubai Financial Market from 1999 to 2006, followed by his chairmanship from 2007 to 2021, where he navigated the institution through both expansion periods and the challenges following the global financial crisis.

    Beyond his new appointment, Kazim retains several pivotal roles including Chairman of Borse Dubai, Deputy Chairman of Dubai’s Supreme Legislation Committee, and board positions at both Nasdaq and Nasdaq Dubai. His comprehensive understanding of financial markets and regulatory frameworks positions him uniquely to guide DP World’s global strategy.

    Yuvraj Narayan ascends to the Group CEO position after dedicating twenty-two years to DP World, having joined in 2004 during a critical expansion phase. The Indian expatriate was appointed Group Chief Financial Officer within his first year and most recently served as Deputy CEO and CFO, where his responsibilities encompassed financial strategy, corporate finance, and broader business operations.

    Prior to his tenure at DP World, Narayan cultivated substantial expertise in transportation infrastructure and finance. He served as Head of Corporate and Project Finance for South Asia at ANZ Group and held the CFO position at Salalah Port Services in Oman. His current directorships include positions at HDFC International Life and Re Company Limited and Dubai Financial Market.

    This leadership transition occurs as DP World continues to expand its global footprint in maritime logistics and supply chain solutions. The appointments signal a consolidation of financial acumen and operational expertise at the helm of the Dubai-based conglomerate, combining Kazim’s regulatory and market knowledge with Narayan’s deep institutional understanding and financial management capabilities.

  • UAE’s infrastructure and construction sectors continue to expand at a robust pace

    UAE’s infrastructure and construction sectors continue to expand at a robust pace

    The United Arab Emirates’ infrastructure and construction sectors are demonstrating remarkable growth momentum, creating sustained demand for advanced mechanical connection systems and pipe fittings. With the national infrastructure market projected to reach $16.71 billion in 2026, driven by consistent sovereign investment and economic diversification programs, utilities and industrial projects have become primary catalysts for materials and component suppliers.

    Capitalizing on this expanding market, GEBO Armaturen GmbH, a German engineering specialist with over eight decades of industrial heritage, has unveiled a comprehensive global expansion strategy targeting the Middle East, Africa, and Asia-Pacific regions. The company has strategically positioned Dubai as its regional coordination hub, leveraging the emirate’s advanced logistics infrastructure, regulatory transparency, and robust distribution ecosystem.

    The expansion announcement featured key leadership figures including Gerhard Kerschbaummayr, COO of GEBO Group; Michael Hess, Strategic Partner; Vinesh Eapen, Director for Asia Pacific, Middle East & Africa; and Edward Mazayan, Area Sales Manager for MENA. The leadership team outlined GEBO’s long-term vision, product innovation pipeline, and structured approach to regional market development.

    Vinesh Eapen emphasized the strategic significance of the UAE hub, noting its capacity to deliver speed, reliability, and technical excellence to surrounding markets. The company’s regional framework incorporates localized inventory positioning, strengthened distribution alliances, enhanced technical response systems, and closer collaboration with contractors, consultants, and MEP stakeholders.

    A pivotal moment came with COO Gerhard Kerschbaummayr’s formal announcement of GEBO’s strategic entry into the Asia-Pacific market, one of the world’s fastest-growing infrastructure regions driven by rapid urbanization, industrial development, and substantial public works investments.

    Founded in 1936, GEBO Armaturen has established itself as an innovator in malleable cast iron compression fittings, having pioneered technology that eliminates welding and threading requirements in pipe connections. This innovation significantly reduces installation complexity and operational downtime while maintaining compliance with stringent European quality standards.

    The company’s future roadmap includes strengthening warehouse presence throughout the GCC, expanding regional product portfolios, evaluating potential technical center establishments, and deepening partnerships across Asia-Pacific markets, solidifying its position as a trusted infrastructure partner in emerging economies.

  • UAE’s $34b nutraceutical sector market attracts new players

    UAE’s $34b nutraceutical sector market attracts new players

    Dubai’s rapidly expanding wellness sector, valued at approximately $34 billion, has catalyzed a significant strategic partnership between two major industry players. NutraONE, a specialized nutraceutical distribution enterprise, has entered into an exclusive collaboration with manufacturing giant Nutrifactor Laboratories to enhance market penetration across five key international territories: United Arab Emirates, Saudi Arabia, Turkey, United Kingdom, and Canada.

    The alliance, formally established during the World Health Expo 2026 in Dubai on February 11, represents a calculated response to evolving consumer behavior patterns. UAE residents are increasingly adopting proactive wellness routines, creating substantial demand for scientifically-validated health supplements across diverse categories including fertility support, weight management, musculoskeletal health, and cognitive enhancement.

    Phase one implementation will prioritize Gulf Cooperation Council markets, introducing over 100 stock-keeping units specifically tailored to regional health requirements. The partnership’s operational framework emphasizes educational outreach and quality assurance, targeting pharmacy networks, clinical environments, and fitness communities through both digital platforms and traditional retail channels.

    Financial projections indicate ambitious growth targets, with medium-term objectives exceeding $1 billion in distribution volume across the five markets. The collaborators aim to capture 1% of the global nutraceutical market—valued at $470 billion—with long-term aspirations reaching $4.7 billion in cumulative revenue.

    NutraONE’s market strategy incorporates sophisticated e-commerce integration with major platforms including Amazon and Noon, complemented by a robust sub-distribution network. The company characterizes each transaction as an ‘Amanat’ (trust), underscoring commitments to reliability, bilingual consumer education, and expedited local delivery systems.

    Executive leadership from both organizations emphasized aligned values regarding manufacturing standards and transparent consumer communication. Amjad Ali, Group Chairman of Nutrifactor Laboratories, noted: ‘This partnership combines our manufacturing excellence with NutraONE’s distribution expertise to deliver quality-controlled supplements worldwide.’

    Aamad Jalil, CEO of BINA Capital Financial Group and NutraONE Executive Board Member, added: ‘We’re building a platform predicated on genuine trust, responsible communication, and sustainable growth across all target markets.’

    The collaboration signifies a strategic consolidation within the nutraceutical industry, potentially reshaping distribution dynamics across Middle Eastern and Western markets through integrated manufacturing and logistics capabilities.

  • Sharjah retailer allocates Dh35 million to Ramadan discounts, cuts prices up to 75%

    Sharjah retailer allocates Dh35 million to Ramadan discounts, cuts prices up to 75%

    In preparation for the upcoming holy month of Ramadan, major UAE retailers have unveiled substantial discount programs totaling Dh35 million to alleviate consumer expenses. Sharjah Coop announced price reductions of up to 75% across more than 10,000 essential consumer products as part of its “Ramadan Togetherness” campaign.

    Salem Al Junaid, CEO of Sharjah Coop, emphasized that the initiative ensures competitive pricing for essential food, grocery, and consumer goods across more than 75 retail outlets throughout Sharjah, in addition to their online platform. The retailer has secured sufficient stock of promotional items to meet anticipated consumer demand throughout the month.

    Faisal Khalid Al Naboodah, Director of Marketing and Public Relations at Sharjah Cooperative, revealed that this year’s allocation represents a Dh5 million increase over previous years, extending beyond staple items like rice, oil, sugar, and flour to include diverse product categories.

    Simultaneously, Dubai-based Union Coop announced complementary measures including discounts up to 60% on over 3,000 food and non-food products. The retailer has frozen prices on more than 160 essential goods to ensure price stability throughout Ramadan. CEO Mohamed Al Hashemi confirmed the continuation of price reduction initiatives launched three years ago, with product lists reviewed monthly based on consumer demand patterns.

    Union Coop will also maintain its sustainability-focused “Your Iftar is Their Suhoor” initiative for the eighth consecutive year, aimed at reducing food waste. The retailer has strengthened its supply chain through partnerships with over 33 local farms and an international network to enhance food security while maintaining delivery services to reduce congestion.

    Both retailers emphasized their commitment to supporting community welfare during Ramadan through these comprehensive economic and social initiatives.

  • Digital Gravity joins Shopify Plus partnership, bringing enhanced e-commerce solutions

    Digital Gravity joins Shopify Plus partnership, bringing enhanced e-commerce solutions

    Digital Gravity, a prominent digital marketing and web design agency based in the UAE, has achieved significant industry recognition by becoming an official Shopify Plus Partner. This strategic partnership represents a major advancement in the company’s mission to deliver structured, performance-driven e-commerce solutions to businesses across multiple sectors.

    The agency, which boasts over a decade of experience in digital transformation, has established an impressive portfolio serving clients in real estate, healthcare, hospitality, government, public sectors, and education. Their expertise focuses on enhancing business performance and maximizing return on investment through comprehensive digital solutions.

    According to Danish Mehtab, Director of Digital Gravity, the company’s philosophy centers on transforming innovative ideas into reliable revenue streams for clients. “Our approach emphasizes clear strategy, measurable goals, and partnerships that convert digital investments into sustained growth,” Mehtab stated, highlighting the agency’s commitment to long-term success rather than short-term traffic spikes.

    Existing Shopify merchants can now leverage Digital Gravity’s certified expertise to enhance their e-commerce strategies. The agency specifically addresses common challenges retailers face when implementing new advertising technologies, offering structured implementation processes and scalable solutions tailored to commerce-focused businesses.

    Operational excellence forms the cornerstone of Digital Gravity’s service delivery. Kamran Shahid, COO, explained: “We transform promise into predictable delivery through streamlined processes, reduced team friction, and repeatable quality checks. This ensures all projects launch on schedule, perform reliably, and scale seamlessly with business growth.

    The agency has designed, developed, and optimized hundreds of e-commerce websites for clients throughout the UAE and international markets. Their clientele ranges from emerging e-commerce brands to large GCC enterprises and major organizations. Digital Gravity’s methodology integrates conversion-focused user experience design with comprehensive conversion rate optimization, supported by advanced A/B testing, heatmap analysis, and sophisticated analytics.

    A notable case study includes their work with By Shams, a personalized fragrance e-commerce brand, where the agency led website design and development to create a more immersive and responsive online shopping experience.

    Umair Khan, CTO of Digital Gravity, emphasized the balance between innovation and stability: “We build both resilient architecture and performance-first engineering, complemented by data-driven experimentation. This approach ensures clients receive fast, secure experiences that continuously improve over time.”

    The agency’s capabilities receive external validation through independent third-party platforms like Clutch, where verified client reviews consistently highlight their on-time delivery and exceptional website development expertise. This independent recognition further reinforces the company’s reputation for successful project execution and outstanding outcomes.

  • Valentine’s Day gifts in UAE priced up to Dh40,000; sales set to grow up to 40%

    Valentine’s Day gifts in UAE priced up to Dh40,000; sales set to grow up to 40%

    The United Arab Emirates is witnessing an extraordinary surge in Valentine’s Day expenditures, with premium gifts reaching unprecedented price points of nearly Dh40,000 and online sales projected to grow by 35-40% year-on-year. Market analysts project the UAE’s gifting market will expand to $6.38 billion by 2030, reflecting the nation’s evolving consumer behavior during romantic celebrations.

    Retailers across the Emirates are preparing for their busiest 72-hour period leading to February 14th, characterized by a significant spike in last-minute purchases. Luxury floral arrangements have emerged as standout offerings, with one retailer featuring a spectacular 2-meter heart-shaped bouquet comprising 5,000 red roses priced at Dh39,999—the highest-priced item in their Valentine’s collection.

    According to Flowwow, an online marketplace specializing in flowers, cakes, and gifts, the average UAE consumer is expected to spend between Dh410 and Dh430 per gift—approximately 1.5 times higher than typical January order values. The platform reported a remarkable 100% increase in Valentine’s gift orders last year, with peak demand occurring on Valentine’s Day itself.

    Akshay Sardana, Vice President of Strategy & International Development at the Continental Group, notes that while this spending surge isn’t structural to the economy, it generates substantial profitability for well-positioned businesses. “The perceived downside of ‘under-delivering’ emotionally outweighs the financial premium,” Sardana explained, highlighting how emotional considerations frequently surpass budgetary concerns.

    Marketing experts observe a significant transformation in gifting psychology, where thoughtfulness increasingly defines luxury rather than mere expense. Tatiana Laudati, Marketing Consultant and Board Member of the Middle East Social Media Digital Association, emphasizes that “‘luxury’ doesn’t always mean expensive. It means thoughtful.”

    The contemporary Valentine’s celebration in the UAE has expanded beyond romantic partnerships to include self-gifting, friendships, and family relationships. Successful retailers are capitalizing on this trend through ready-to-gift bundles, limited editions, and personalized offerings that create deeper emotional connections.

    Anis Abdul Razak Kalsekar, Founder of fragrance brand Canéza, observes that consumers are increasingly purchasing experiences rather than mere products. “Consumers are not simply buying a product; they are buying a moment, a memory, or a statement of intent,” Kalsekar noted, adding that strategic value creation through curated gift sets and experiential positioning naturally reduces price sensitivity.

    Digital marketing strategies have become crucial for capitalizing on the last-minute demand surge, with targeted campaigns, retargeting efforts, and clear same-day delivery messaging driving substantial results during the critical final week before Valentine’s Day.