Analysis Business of Sport Qatar scores as World Cup host but may not net long-term goals Tucked behind Doha’s $300-million Lusail Boulevard, where construction workers are toiling to transform desert into a Champs-Elysees-inspired commercial thoroughfare before the 2022 soccer World Cup, sits a sole convenience store. With the main stadium, four skyscrapers and apartments designed for some 200,000 people all in Lusail, its manager Younes waits somewhat anxiously behind his till, […] May 5, 2022
Retail Moncler bets on store expansion, footwear to drive growth Italian luxury group Moncler said on Thursday it would open, refurbish or relocate 200 stores in the next three years, mostly in Asia, and diversify into shoes and clothes for warmer weather. The group, which in 2020 acquired streetwear brand Stone Island, also said it expected to beat analyst forecasts for annual sales of 2.43 […] May 3, 2022
Retail Swiss watchmakers grapple with fallout of Russian crisis Swiss watchmakers are gathering in Geneva this week for their first big industry event in three years, tackling the impact of sanctions on rich Russians arisingfrom the war in Ukraine. Russia was only the 17th largest market for Swiss watch exports last year, but how to manage business and client relations during such a sensitive […] May 3, 2022
Retail Apparel to buy Karl Lagerfeld brand in $210 mln all-cash deal Apparel Group Ltd said on Monday it has agreed to acquire the remaining 81% stake in Karl Lagerfeld for $210 million in cash, becoming the sole owner of the Parisian fashion brand. G-III, which owns brands including DKNY and Jessica Howard, will purchase the additional stake from a group of investors led by Fred Gehring […] May 2, 2022
Retail Turkish consumer confidence hits record low in April The Turkish consumer confidence index dropped 7.3 percent to 67.3 points in April, official data showed on Thursday, hitting its lowest ever level, driven by a 10 percent drop from the previous month in the financial situation of households. A slide in the value of the lira began driving a fall in consumer confidence late […] April 29, 2022
Retail Tata Motors maps out long-range EVs for India and beyond Tata Motors says it plans to launch electric cars with a minimum range of 500 kilometres (310 miles) and advanced technology features, targeting buyers in India and beyond. The first electric vehicles (EVs) built using its new platform should be on the road in 2025, Tata said during an event in Mumbai where it unveiled […] April 29, 2022
Banking & Finance Americana selects banks for Saudi and UAE listings The Middle East and North Africa franchisee of fast-food restaurants KFC and Pizza Hut has hired banks for a potential dual listing in Saudi Arabia and theUnited Arab Emirates, a source with knowledge of the matter said. Americana Group has selected Goldman Sachs, First Abu Dhabi Bank (FAB) and Saudi National Bank (SNB) for the deal, said the source, declining […] April 29, 2022
Retail Dubai’s GMG to operate French supermarket chain Géant in UAE Dubai retailer GMG said on Tuesday it had acquired the United Arab Emirates’ operations of French supermarket chain Géant from a company owned by Dubai Holding, of Dubai’s ruler Sheikh Mohammed bin Rashid al-Maktoum. GMG said it also acquired the rights to expand Géant’s operations in the Middle East as part of the deal from […] April 28, 2022
