Abu Dhabi: Geant Hypermarket is set to open two new outlets next year in Fujairah and Dubai’s Dragon Mart 2, along with a number of Geant Easy stores, according to Mark Lack, the chief executive officer of Fucom LLC, the master franchise owner of Geant.
The hypermarket, which has recently launched its latest store at Abu Dhabi’s Yas Mall, will expand in other GCC markets including Bahrain and Kuwait.
The group also plans to capitalise on the region’s growing retail industry. Sales of supermarkets and hypermarkets in the GCC are expected to grow at a compound annual growth rate of 10.5 per cent, reaching $59 billion (Dh217 billion) in 2016, according to research firm Alpen Capital.
“Geant will roll out a number of new supermarkets and hypermarkets in the Gulf in the next two years, and our plan is to continue to offer customers in the Dh132.23 billion-market the best assortment of fresh, high quality products for the best value for money in the market,” Lack told Gulf News.
While he did not disclose Geant’s sales targets for their new outlet in Yas Mall, Lack said “challenging targets” were set, and that the footfall has exceeded expectations.
“…Average customer basket is above the company average, and on overall sales, it is already our second largest store in the UAE for turnover,” the CEO said.
As for investment for the expansion, Lack said, “Our investments are not ruled by specific figures, but more on strategic intent and local need. We will continue to invest in projects that bring us closer to our vision of being the preferred food retailer in the GCC countries we operate in.”
While the Yas Mall outlet targets residents from across the emirate, it is focusing on those in Khalifa Cities A and B, and Shahama.
The hypermarket in Yas Mall covers an area of 120,000 square feet, making it the largest of other locations. It is also the only one of its kind on Yas Island, which eliminates competition in the area.
“With the mall now integral to the whole Yas Island experience, and the sizeable influx of discerning residents and visitors, Geant has planned this flagship enterprise in a manner that reflects the overall exciting image of the Island and its lifestyle,” Lack said.
