Dubai: The Dubai based GMG, one of the world’s biggest sellers of Nike merchandise, will open more than 100 stores in Egypt in the next five years. This forms part of a full-speed expansion in regional and Southeast Asian markets that GMG, which owns the Sun & Sand Sports retail chain, outlined in October last.
The Egypt openings come as more UAE retailers line up big plans for that North African market, obviously enthused by the consumer base and the fact that more shopping and leisure destinations are opening there.
GMG will open Sun & Sand Sports outlets at the City Centre Almaza as well as Mall of Egypt. The company also intends to introduce its sneakers-focused dropkick offering, and its Nu Athlete concept catering to the youth demographic.
“We see Egypt as a compelling gateway into North Africa,” said Mohammad A. Baker, Deputy Chairman and CEO of GMG. “The retail landscape in Egypt is incredibly dynamic with a large youth population increasingly embracing healthy and active lifestyles, while desiring the latest in popular international brand trends. Through our upcoming investments, we are pioneering new brand experiences and offerings in Egypt’s retail landscape, while also creating new jobs within the wider economy.”
GMG has established a dedicated head office in Cairo to fuel its local business growth. These operations are being led by Imad El Ghazal, Vice-President – Egypt, who will work in alignment with the company’s international brand teams.
To start the Egypt push, GMG will open a "number of stores" in Cairo this year. Recently, the consultancy Euromonitor International predicted a recovery for the Egyptian market as the economy stabilizes after initial disruptions from the COVID-19 pandemic.