Fahed Ghanim, Chief Executive Officer, Majid Al Futtaim Lifestyle
In an exclusive conversation with Anurima Das, Executive Editor, IMAGES RetailME, Majid Al Futtaim Lifestyle Chief Executive Officer, Fahed Ghanim said that in 2024 the company will continue to focus on strategic and balanced growth.
For perspective, Majid Al Futtaim Lifestyle’s network includes more than 65 stores and 18 digital platforms across the GCC region. It holds exclusive licensing rights across the region for lululemon, LEGO, Abercrombie & Fitch, Hollister, AllSaints, Eleventy, Psycho Bunny, Crate and Barrel, CB2, Alessi, Poltrona Frau, Ceccotti, Shiseido and THAT, a Majid Al Futtaim Lifestyle multi-brand concept store and app.
Transforming with power
2023 was a transformative year for Majid Al Futtaim Lifestyle with consecutive years of double-digit growth culminating in their most successful year to date. They charted new horizons with the successful debut of Poltrona Frau, Ceccotti and Shiseido, marking their entry into luxury home and beauty segments. The company expanded its brand portfolio, welcoming Psycho Bunny, Alessi and Eleventy, each contributing to the rich tapestry of their offerings.
“Our commitment to growth and expansion was evident in the opening of 20 stores, including 10 in the UAE and 10 across the GCC. In Saudi Arabia, we maintained our strategic focus, through the opening of six stores, the launch of two digital platforms and an overall expanded team of almost 400 new Lifestyle MAFers. Our daily sales records were smashed for LEGO, lululemon, All Saints, A&F, Crate and Barrel and CB2 achieving unprecedented yearly sales milestones for both LEGO and lululemon. Additionally, we celebrated the opening of our 20th store for lululemon in the region in City Walk Dubai featuring a first-of-its-kind studio, which exemplifies our commitment to innovation and customer centricity,” Ghanim elaborated.
Building a niche
Asked about a brand collaboration that’s close to his heart, here’s what Ghanim said, “Choosing a single collaboration to highlight in a year as remarkable as 2023 is like picking a favourite child – it simply cannot be done. However, amid numerous impactful partnerships, I take immense pride in our ventures into two new categories, luxury home and beauty.”
Highlighting the pivotal role of talent and teamwork in achieving success, Ghanim added, “As for my role in spearheading these initiatives, none of it would be possible without the extraordinary talents of my dedicated team – the driving force behind our transformative journey. This success stands as a testament to the empowered team we have become, delivering across categories and countries and a collective commitment to fostering a healthy and supportive work culture, embodying the core values of Majid Al Futtaim Lifestyle: being bold, passionate and together every day.”
Focused on tomorrow
Looking ahead, Majid Al Futtaim Lifestyle has an ambitious development pipeline focused on strategic growth and enhancing its existing pillars across Fashion, Home, Beauty, Specialty Retail and their Multi-brand concept.
“As we enter 2024, the demand for tailored experiences, personalised products and a sense of exclusivity is projected to drive the success of luxury brands that invest in advanced customer data analytics, artificial intelligence and bespoke offerings. At Majid Al Futtaim Lifestyle, we are attuned to these evolving trends, positioning ourselves to navigate and excel in the dynamic world of luxury retail in the upcoming year,” he summarised while pointing out trends to keep an eye on.
Watsons to open 20 new stores in the GCC
In 2020, global health & beauty retailer AS Watson Group signed its
April 29, 2024 | By Rupkatha B / 
In 2024 grocery retail major Choithrams has achieved several milestones underscoring its
Industry pioneers are embracing a comprehensive strategy that integrates consumer insights, digital
The regional grocery retail market is evolving fast keeping pace with constantly
From ethical and local sourcing to adopting cutting-edge technologies to curb food
The regional grocery retail market is becoming more and more diverse, offering
Spinneys, the leading premium fresh food retailer, has announced the opening of
Spinneys has announced the launch of The Kitchen by Spinneys, its first-ever
One of UAE’s leading fresh food retailers, Spinneys has announced its intention
Launched in 2019 by Laura Manning, UAE-based homegrown brand BRW Society completes
/ 
From designing collections to creating campaigns, from analysing user preferences and purchase
Primark, known for its affordable fashion, has experienced significant global expansion since
For off-price retailer Brands For Less (BFL) Group, change management acts as
Sun & Sand Sports recently re-opened their Mall of the Emirates store, extending their #FunToTheFinish concept
Newly named Chief Executive Officer, Nurtac Afridi is all set to take
Styched, a trailblazer in the fashion and apparel industry, is revolutionizing the
One of a Kin, an innovative e-commerce store for sleepwear, is redefining
Sheetal Kapoor, the Managing Director of SHREE, transformed her life from a
One of the UAE’s prominent and respected business leaders and Chairman of
Setting the pace for the recently concluded Food Business Summit 2024, in
Mrunal’s Boutique is a multi-designer store and surface design atelier located in
Previous Article
