GMG to open 100+ sports retail stores across Egypt by 2026
UAE-based diversified family business GMG renewed its commitment to the Egyptian market by opening its headquarters in District 5, Cairo. This headquarter will support GMG’s plans to open 100+ sports retail stores across Egypt by 2026 for its international and home-grown sports brands Sun & Sand Sports, dropkick, Nu Athlete and Nike. GMG will also increase its current Egyptian workforce 10 times in the next four years, adding more than 1,000 jobs to the Egyptian economy. These roles will be split across retail sales, admin, and management functions.
“We see strong potential in Egypt for all our sports brands. This aligns with our unique retail concepts, portfolio of the world’s biggest sports and wellness brands and increasing digital footprint. We will continue investing in this dynamic market to deliver new retail experiences while inspiring new lifestyle habits built around health and well-being,” stated Mohammad A. Baker, Deputy Chairman and CEO of GMG.
The Egyptian retail sector is growing rapidly supported by its young, urban and tech-savvy population and expanding middle class. And earlier this year GMG announced a strategic partnership with Talaat Moustafa Group (TMG), an Egypt-based real estate developer, to launch a Sun & Sand Sports store at the new All Seasons Park mall, and a Nike store at Open Air Mall. GMG is also exploring e-commerce opportunities in Egypt with local distribution partners.
“We are delighted to announce the launch of our new office in Egypt, which unfolds a new chapter in our international growth strategy. We are all set to introduce some of the best products and concepts in the world to the nation’s sports enthusiasts. Due to its rich history, vibrant culture and thriving retail sector, Egypt presents GMG with a wide range of opportunities to engage with new partners and customers,” added Imad El Ghazal, Senior Vice President – Sports, Africa, GMG.
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