Majid Al Futtaim Joins Forces with FOO to Transform Customer Experience

FOO has expedited Carrefour’s current refund process by integrating its closedloop mobile wallet and stored value account solution into Carrefour’s existing mobile app, enabling customers to receive instant refunds to their personal accounts. The aim of this collaboration is to streamline the hypermarket chain’s refund procedure and provide a more seamless shopping experience for its customers.

Chief Corporate Development Officer at Majid Al Futtaim and Holding and Managing Director of XSIGHT Future Solutions, Joe Abi Akl, said: “By leveraging FOO’s advanced capabilities, we can enhance our existing digital infrastructure and optimise our operations to meet the evolving needs of our customers.

“We are confident that this strategic partnership will enable us to set new industry standards and redefine the future of retail.”

XSIGHT Future Solutions, a digital arm of UAE-based shopping mall developer Majid Al Futtaim, has partnered with fintech solution provider FOO to provide an embedded wallet experience for its retailers.

Carrefour, owned and operated by Majid Al Futtaim in the UAE, is the first retailer to adopt this technology and has already launched the solution in the UAE, Saudi Arabia and Egypt, with more countries to follow. Chief Revenue

Officer at FOO, Hussam Kayyal, said: “There’s no doubt that customer satisfaction is the number one priority for all businesses.

“Embedded finance can significantly enhance the consumer experience by eliminating traditional pain points. Integrating a closedloop mobile wallet into the various MAF consumer apps improves ease of service, therefore enhancing customer satisfaction and brand loyalty.”

The embedded wallet solution is seen as the first step of the expected long-term partnership between FOO and XSIGHT Future Solutions. In recent month, Carrefour UAE’s stores have accelerate the adoption of advanced technologies. For example, in February, the retailer installed the Face Pay face verification platform for payments in its Deira and Amsaf stores.

Source:MiddleEastRetailNews(https://bit.ly/3o8bq9X)

After Solid Q1-23, Americana Restaurants Has Its Eyes Set On Saudi Expansion

While revenue for Q1-23 increased by 2.1 per cent to $589.4 million, net profit attributable to shareholders dropped from $72 million to $58 million. Due to Ramadan this year being marked in Q1, there was a drop in the in out-of-home dining throughout MENA, contributing to the quarter’s earnings shortfall. From January 1 to March 22, which was the start date of Ramadan, income increased by a respectable 7.5 per cent over the same time in 2022.

Americana, the fast-food chain with a market value of Dh32 billion, set a milestone by becoming the first company to be dual listed in the UAE and Saudi Arabia. It has delivered a 28% increase in the stock price year-to-date.

Through its 50 years of operations, Americana Restaurants has managed restaurants and outlets under the KFC, Pizza Hut, Hardee’s, Krispy Kreme, and TGI Fridays, as well as its own Chicken Tikka throughout the MENA area and Kazakhstan. The company raised $1.8 billion through its public offering in November, and there was such a strong response that the stock was oversubscribed 58 times. After elevating its global presence as a listed company, Americana is on course to achieve its vision as one of the profitable, growthoriented, and diversified F&B operators.

The business keeps making strides on several strategic fronts. The KFC and Pizza Hut launches in Baghdad was one of the significant achievements. Americana sees Iraq as an untapped opportunity that would help them strengthen their regional presence and create a solid pipeline to speed up expansion for the rest of the year.

Americana Restaurants maintains a robust balance-sheet and is in a strong position to achieve its commitments on growth and capex and to uphold its dividend policy, with cash and cash equivalent for the quarter at $329 million. ReadMore…

VIA Riyadh Opens its Doors to Visitors with a Luxurious Twist

RIYADH: The wait is over as luxurious destination VIA Riyadh finally opens on May 11.

Abdullah Al-Olayyan, sales account manager, said that Artfeena tells the story of Saudi culture. “This is an art boutique that showcases our heritage in a contemporary style, and every piece tells a different story, and we decided to open in VIA Riyadh because we want to show the world our heritage and culture and deliver it through gifts,” Al-Olayyan told Arab News.

The area also boasts an exhibition called Seven, which showcases some of the most valuable and rare classic cars in history. To further enhance the shopping experience, VIA Riyadh features the Indulge in Luxury Center, which provides fashion services, personal shoppers, and a team of experts.

Located in Riyadh, the Salmani architecture used in the area blends in with the capital’s local character. It offers customers a shopping experience showcasing local and international brands, making it the premier location for luxury shopping. The area also features the renowned five-star St. Regis Riyadh hotel and seven luxurious cinemas, one of which is open for individual reservations.

The destination is home to numerous high-end restaurants, international cafes, the luxurious

ManuH Cigar Lounge, and the Via Mercato food store. Other food spots include Indianinspired Gymkhana, and Spago, led by the internationally renowned, two-Michelin-starred chef Wolfgang Puck.

VIA Riyadh offers a shopping experience that includes a range of luxury fashion brands, as well as art stores such as Phoenix Ancient Art, Richard Orlinski, and Artfeena — a Saudi gift shop that offers antiques inspired by the Saudi culture and the Kingdom’s various regions.

Fashion and footwear brands like Ashi, Elie Saab, Brandon Maxwell, Tom Ford, Dolce & Gabbana, Zimmermann, Mwas, Isaia, Aquazzura, and Sergio Rossi are also available in the area, as are watch and jewlry brands like Bellucci, Charles Oudin, David Webb, Cle, L’Atelier Nawbar, and Maria Tash. Visitors who want a fresh haircut can visit Chaps & Co and Jacques La Coupe hair salon.

Various premium services are available to VIA Riyadh guests to improve their stay, including delivery services, valet parking, and personal assistant service. To learn more about VIA Riyadh, please visit the site.

Source:ArabNews(https://bit.ly/41vE6HK)

EssilorLuxottica Expands into Arabian Gulf Region with Chalhoub Group

of local consumers and shopping experience know-how. The partnership will lead to the opening of multibrand and monobrand stores for EssilorLuxottica’s most popular brands, like RayBan, Persol, Oliver Peoples and David Clulow, expanding the group’s presence in the Arab Gulf region.

EssilorLuxottica has inked a joint-venture deal with Chalhoub Group to open a network of eyewear stores in the Arabian Gulf states. The deal aims to establish a strong regional presence and achieve unparalleled customer service levels, combining the experience, technology and reputation of EssilorLuxottica’s brands with the Chalhoub Group’s in-depth knowledge

The deal is a significant step for EssilorLuxottica as it aims to grow the visibility and quality of the eyewear category in the region, strengthening the relationship between local consumers and the group’s premium brands. It will also help the Chalhoub Group make its mark in the fastgrowing eyewear retail sector, taking advantage of the group’s luxury retail expertise. David Clulow, a UK-born multibrand eyewear retailer well-known among Middle Eastern consumers living in London, will open new stores offering an even more exclusive shopping experience, unrivalled service and the latest industry novelties.

“As we expand into the eyewear category, we are entering a new vertical that has significant potential for growth and innovation with a high demand from our regional luxury consumers. EssilorLuxottica is a partner of choice with their fashionable, elegant products, and brand portfolio; their core values of helping people to ‘see more and be more’, alongside their growth ambition in the Gulf Cooperation Council region, complements our group’s purpose to inspire and delight customers,” said Patrick Chalhoub, president of Chalhoub Group.

For over six decades, Chalhoub Group has partnered with luxury brands and created luxury experiences in the Middle East. Striving for excellence as a hybrid distributor, the group has strengthened its distribution and marketing services by developing a portfolio of eight proprietary brands and over 300 international brands from the luxury, beauty, fashion and lifestyle sectors. It has recently expanded its range to include new categories like luxury watches, jewellery and eyewear. Chalhoub Group provides luxury experiences via over 750 physical stores, online shopping and apps.

Source:FashionNetwork(https://bit.ly/3I6pCHm)

US: Wendy’s Turns to AIpowered Chatbots for Drive-thru Orders

Apple to Open First Online Shop in Vietnam in a Push to Emerging Market

LVMH becomes first European company to exceed $500-billion market value

Wendy’s Inc. will begin testing an artificial intelligence-powered chatbot next month that will talk to customers and take drive-thru orders, becoming the latest fast-food chain to employ the technology. The system, powered by Google Cloud’s AI software, will be as natural as talking to an employee and has the ability to understand speech and answer frequently asked questions, the company said. This “creates a huge opportunity for us to deliver a truly differentiated, faster and frictionless experience for our customers,” Chief Executive Officer Todd Penegor said in a statement. Interest in AI chatbots from investors and the public has surged after the release of OpenAI’s ChatGPT last year.

Source:GulfNews-(https://bit.ly/3I4DLoz)

Google Co-Founders Gain $18 Billion as AI Boost Lifts Stock

Apple said on Friday it would open its first online store in Vietnam next week, as the iPhone vendor doubles down on emerging markets to drive growth amid slowing sales in China. The May 18 opening comes just weeks after the Cupertino, California-based company opened its first Apple stores in India - Mumbai and Delhi. Apple CEO Tim Cook is betting that emerging markets will provide more growth opportunities, with younger populations and relatively few iPhones. Apple did not say when it plans to open physical stores in Vietnam, which has a population of 100M people. “We’re proud to be expanding in Vietnam,” said Deirdre O’Brien, Apple’s SVP of retail. Apple already sells products in Vietnam via licensed vendors and has multiple suppliers that assemble its gadgets in the country for export.

Source:Zawya (https://bit.ly/3MrojWf)

Coffee Chain Tim Hortons to Open Stores in South Korea

French luxury goods maker LVMH’s market value surpassed $500 billion, becoming the 1st European company to reach that milestone. The company’s market rally comes on the back of booming sales of luxury goods in China and a strengthening euro. The achievement comes less than two weeks after LVMH joined the ranks of the world’s 10 biggest companies, powered by a surge in Q1 sales. The company’s rising value has swelled the wealth of the world’s richest person, Bernard Arnault, who built LVMH into a global powerhouse through a series of acquisitions. His fortune stands at almost $212B, according to the Bloomberg Billionaires Index. Shares of Paris-based LVMH Moët Hennessy Louis Vuitton SE, as the company is formally known, climbed 0.3% to €903.70 at 10:43 a.m. Monday, valuing the company at €454 billion ($500B), Bloomberg reported. Source: ArabianBusiness(https://bit.ly/3pEYfhi)

Ikea to Open New Stores in US with Huge Investment

California: Google’s co-founders are reaping the rewards of the artificial intelligence frenzy, adding more than $18 billion to their combined wealth as the company unveiled a revamped search engine. Larry Page’s net worth increased by $9.4 billion this week to $106.9 billion, while Sergey Brin’s rose $8.9 billion to $102.1 billion, according to the Bloomberg Billionaires Index. That was their biggest weekly gain since February 2021. Google will start experimenting with a more conversational search engine and has made its AI-powered chatbot available more broadly, the Mountain View, California-based company said at its annual developer conference on Wednesday.

Source:GulfNews(https://bit.ly/45bprEP)

North American coffee shop chain Tim Hortons will enter the retail market in South Korea later this year, its parent company Restaurant Brands International (QSR.TO) said in a statement on 10th May. The company said the new stores in the Asian country, one of the fastest-growing coffee markets in the world, would be developed under a master franchise agreement with BKR Co Ltd, a local operator in the quick service business. Tim Hortons has around 5,600 stores in 15 countries, with a larger presence in Canada and the US. It says it uses premium, 100% arabica coffee beans in its blends. Restaurant Brands International, which also owns fast food chains Burger King and Popeyes. Source:Reuters(https:reut.rs/42ARdIV)

Swedish furniture giant Ikea announced plans Thursday to spend more than 2B euros ($2.2 billion) to expand in the US, its biggest investment in almost 4 decades in the country. The Ingka Holding Company, which controls the majority of Ikea’s stores and accounts for more than 90% of its total sales, plans to open 8 new stores in the US. It will also add nine “plan and order points” - smaller stores where customers can get furnishing advice for kitchens, bedrooms and living rooms. The 3-year expansion will add more than 2,000 jobs in the US. “It’s the biggest investment we have ever done in one single country,” Tolga Oncu, Head of Ikea Retail at the Ingka Group, told AFP, adding they see “endless opportunities” in the US. The company said stores are scheduled to open this summer in San Francisco and Arlington, Virginia. Source: Gulf News (https://bit.ly/3MqWf5i)

Australian Boho Brand Spell Opens its Pop-up in Los Angeles

Elie Saab Opens First Flagship Store in Saudi Arabia

Panda Express Unveils New Store Model

Four years after a successful first pop-up in Los Angeles, and a few months after another pop-up in Sydney, the Australian brand with a bohemian spirit, Spell, is back in Los Angeles and the Venice neighborhood, where it has just opened its new pop-up at 1108 Abbot Kinney Boulevard, scheduled until July 23. As the music festival season opens with Coachella as the first, Australian sisters Elizabeth Abegg and Isabella Pennefather present their collections of floral dresses, hats and western boots in Los Angeles in a space that feels like an extension of the brand’s physical spaces in Australia. “We release two different collections whilst in the space and I’m thrilled to be able to offer an in-store experience of Spell to our loyal community after such a long time,” said Co-Founder and Creative Director, Isabella Pennefather. Source: Fashion Network (https://bit.ly/3MsmzMr)

Mango Accelerates US Expansion with 15 Store Openings Planned for 2023

Located in VIA Riyadh, an exclusive experiential luxury and architectural destination in KSA, the 350 square-metre flagship boutique offers a unique experience of the label. The boutique features the most recent ready-to-wear and bridal collections, as well as kidswear, accessories and fragrances. It equally houses a private haute couture salon.

Designed and furnished exclusively by Elie Saab Maison, the all-white space is characterized by marble floors and plush carpets, while warm lighting reflects off of copper and oak wood accents. Completing the space are mirrors emblazoned with the abstract Elie Saab monogram. “Riyadh is developing its regional influence, and opening a boutique in the Saudi capital is therefore relevant for Elie Saab as we thrive into a lifestyle brand,” said CEO, Elie Saab Jr. “To further cement our presence in the Gulf and the region at large, we are aiming to be accessible and meet our growing clientele to best address their specific needs.”

Source: Fashion Network (https://bit.ly/3W5layz)

Amazon overhauls delivery network, seeking faster delivery,

Profit

Panda Express has revamped its store model in line with evolving customer behaviours. The quick-serve Asian restaurant chain has opened a new prototype designed to accommodate the increased demand for online ordering and drivethru channels. The revamped interior includes a 15% reduction in the seat count, with a larger back-of-house area. The new store model will be expanded to new locations in several U.S. markets in 2023 and beyond. The new Panda Express format, which made its debut in Dripping Springs, Texas, features design elements inspired by traditional Chinese architecture and traditions that tell the story of Panda Express. The exterior is identified by the brand’s signature colour palette of black and white, with strong red accents complemented by warm wood tones and a sweeping roofline. The interior design is marked by vibrant colours and a mashup of traditional and modern design motifs, welcoming customers into Panda’s ‘home.’ Read More… Source: Chain Store Age(https://bit.ly/3Iceysm)

H&M Returns to Tokyo’s Ginza with Cafe and Interior Goods

To commemorate the first anniversary of its flagship store opening on Fifth Avenue in New York, Mango has announced plans to continue expanding in the US with the opening of 15 new stores for 2023. The Spanish fashion group aims to strengthen its presence in key regions like Florida, and establish its footprint in previously untapped states such as Georgia, Texas, and California. Mango is planning to expand its presence in the United States this year, with a focus on the west and south regions of the country. Some of the new openings planned for the coming months include shopping centres such as The Shops at La Cantera in San Antonio, Galleria Dallas in Dallas, La Plaza Mall in McAllen, Memorial City Mall in Houston, and Baybrook Mall in Houston. Source: FashionNetwork(https://bit.ly/42Dy9Ki)

Amazon.com Inc has overhauled its logistics network to reduce how far a package travels, in a push to move goods faster and more profitably, the Wall Street Journal reported on Saturday. The online retailer’s efforts have helped reduce delivery times, transformed inventory management and changed the search results customers see on its flagship e-commerce website, the report added citing executives, analysts and sellers who list their items on Amazon.

At a time of slack consumer demand, other online retailers have also been making efforts to slash costs for home delivery and returns. Amazon this week said it was offering U.S. customers $10 to pick up a purchase rather than have it shipped to a home address. As the company tightens its belt after a period of explosive growth, it has made numerous moves to reduce delivery-related costs across the company. Source:FashionNetwork (https://bit.ly/3M2osxF)

H&M opened a new shop in Tokyo’s upscale Ginza district, the first in Japan to feature an interior section and a cafe as the Swedish clothing company aims for a piece of the recovering economy boosted by the return of international tourism. It’s somewhat of a homecoming for H&M Japan, which first opened its first store in Ginza in 2008, before closing permanently in 2018. “We’ve always been trying to find a way to reopen in Ginza,” said Aneta Pokucinska, H&M’s Regional Manager for Japan and South Korea. The 1,300-sqm new store on Namiki-Dori St., covering 3 floors, is the company’s 122nd location in the country. The store’s interior section emphasizes a connection with the cafe by featuring kitchen and dining products. The company’s environmentally friendly corporate stance is apparent throughout the store. There is a used clothing collection box made from a material called Paneco, which was developed by a Japanese company and is produced from the ground and reformed bits of recycled textile. Source:NikkeiAsia(https://s.nikkei. com/45cBG3Z)