Five years ago, Majid Al Futtaim Lifestyle intended to undergo a transformation. What was the decision behind that, and what have the milestones been?
Many businesses today are motivated by transactions rather than interactions. When joined Majid Al Futtaim Lifestyle in 2018, did so with the intention of fostering a culture of interconnectedness from the way the team operates to the way customers interact with our portfolio of brands. Therefore, our transformation has been built around delivering the best customer experiences, even amid the chaos of the pandemic, supply chain management issues, inflationary pressures, and technological advancements. We have reframed transformation’ as a higher level of performance and evolution rather than a time-bound project. Over the past five years, we have completely revised our portfolio strategy by divesting brands that were not the right fit in the pursuit of growth. We continue to record year-on-year, double-digit growth and trend above budget, boasting approximately 217.8 million in sales this year alone.
Not only has Majid Al Futtaim Lifestyle hit countless milestones, but so have our partners. For example, lululemon Middle East has gone from less than 13.6 million in sales to over 54.4 million in two years.
When setting any target, we always take the original number and double it-for these internal incentives encourage us to be bolder and do better. like to think that this expansive mindset is what inspired the name change from Majid Al Futtaim Fashion to Lifestyle, which left behind the business of retail to focus on the business of moments.
How do you help brands set up in the U.A.E. and across the region? How has Majid Al Futtaim Lifestyle maintained its own identity in the process?
Bu hikaye Forbes Middle East - English dergisinin Jan 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Forbes Middle East - English dergisinin Jan 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Celebrating Emirati Businesswomen and Entrepreneurs on Emirati Women's Day
As part of the U.A.E.’s annual Emirati Women’s Day celebrations, the Abu Dhabi Business Women Council and the Abu Dhabi Chamber hosted an event on August 28, 2024, under the theme “We Collaborate for Tomorrow,” celebrating the role and achievements of Emirati women.
THE MIDDLE EAST'S TOP 100 HEALTHCARE LEADERS 2024
MENA’s healthcare landscape is evolving towards integration, marked by the rise of fully comprehensive ecosystems. Industry giants are setting future trends, driven by systems that thrive on data abundance, accessibility, and intersectoral collaboration.
SCOUTING FOR OPPORTUNITIES
Ayman Cheikh-Lahlou, Chairman and CEO of the Morocco-based Cooper Pharma, took the helm of the family-owned pharmaceutical company in 2005 and has seen business boom over nearly 20 years. Now, he’s exploring expansion opportunities in new markets.
TURNING THE TIDE
Irina Zaporozhets, President and General Manager for Eli Lilly Suisse S.A. in the META region is driving expansion, focusing on innovation and patient-centric care. As she navigates regional challenges, her commitment to expanding access to medicine remains at the forefront.
Supercharging AI
Armed with a newly raised 640 million, GROQ thinks it can challenge one of the world’s most valuable companies with a purpose-built chip designed for Al from scratch.
How Technology is Accelerating Digital Equality in Diverse Markets
The rise of smartphones and digital technologies has transformed our daily lives, contributing to the evolution of connected consumers.
Rare Fortune
Money manager JAMES LITINSKY turned a bad junk bond bet into a $400 million fortune. His MP Materials operates a strategic mine and will begin manufacturing supermagnets for electric vehicles next year.
The State of Mental Health in the Middle East
While mental health awareness is on the rise, the Middle East faces some challenges in providing care. Still, we're seeing some progress.
Big Breakthroughs
From gene therapy to nasal sprays, these were some of the most significant healthcare breakthroughs in the last year.
MENA's 5 Most Valuable Healthcare Companies 2024
The combined market cap of 57 healthcare companies listed on MENA's stock exchanges hit $83.7 billion on August 13, 2024, with the top five companies accounting for about 62.4% of the total market cap. These are MENA's five most valuable healthcare companies in 2024.
