Majid Al-Futtaim Retail plans to inject EGP 250 mln in Egypt in 2022

Doaa A.Moneim , Wednesday 9 Mar 2022

Carrefour — owned and operated by Majid Al-Futtaim — is expected to invest EGP 250 million in the Egyptian market in 2022, with a plan to expand to cover the entire country, said Philippe Peguilhan — the new country manager of Carrefour Egypt at Majid Al-Futtaim Retail.

Majid Al Futtaim

Peguilhan was appointed as the country manager of Egypt in September 2021. Previously, he was the country manager of Carrefour Georgia and Armenia from 2015 to 2018, and then appointed as country manager of Carrefour UAE in 2018.

The manager’s comments came as a response to Ahram Online’s question on the future plans of Carrefour in Egypt, especially in investments.

Among these investments, Carrefour plans to open a Carrefour Gourmet store to provide customers with a premium and specialised product range. It was also open a ‘Supeco’ store that will aim to serve wholesalers, retailers, and walk-in customers.

Additionally, Majid Al-Futtaim’s new beauty concept store Myli has already opened three stores in Egypt and plans to open 10 more by the end of 2022. 

Peguilhan also stressed that the ongoing challenges regarding the supply chain disruption caused by the pandemic and the ongoing Russain-Ukranian war will not conflict with Carrefour’s plans for the Egyptian market, adding that it plans to open 10 stores across the country in 2022 to supplement the current 59.

He added that it will also venture into e-commerce by expanding in online shopping activity, as the market is very attractive for the e-commerce business on a local level. 

“Majid Al-Futtaim Retail has invested EGP 2.3 billion to date in Egypt. 2022 marks the 20th year of Carrefour’s existence in the Egyptian market. In 2021, Carrefour hired 1,354 employees; whereas in Majid Al Futtaim Retail, we have 6,788 Egyptian employees to date, 138 of which are special needs, and we are planning to hire 204 more this year. Going forward, we plan to open new stores in Alexandria, New Al-Alamain, the Red Sea, and Delta,” Peguilhan noted.

In his answer to Ahram Online’s question on the potentials the Egyptian market has and how his company perceives the market among its peers in the region, Peguilhan affirmed that Egypt is a promising market in terms of the retail business and the major market for Carrefour in the region due to its huge population and labour availability.

Following the success of its 19th anniversary campaign in 2021, Carrefour attained a 40 percent growth in sales compared to last year, which is higher than initially predicted, according to Carrefour.

Regarding its plans for the holy month of Ramadan, Peguilhan expounded that Carrefour will launch a campaign titled ‘Ramadan Kareem Bel Kheir with Carrefour.’

“Carrefour will partner with the Egyptian Food Bank to provide customers with Al-Kheir cards to be purchased and a hot meal will be delivered to those in need on Iftar during Ramadan through the bank. Also, Carrefour plans to launch four other main activities during the month.”

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