The “exciting” next chapter for Alshaya

In conversation with Lee Clark from IMAGES RetailME, Steve Vickerstaff, Chief Operating Officer, Alshaya Group discussed what the next growth wave will look like for the retail conglomerate where “no day is the same.”

Setting the tone for the conversation, Vickerstaff shared that Alshaya Group is “excited” about introducing several new brands to the market.

He also added how 27 years ago when he joined the company, Alshaya had “half a dozen brands and around 150 stores.” Today the count stands at 4,000+ stores in 18 countries. “The growth has been amazing,” he said.

Alshaya Group at a glance

• 70 brands I 18 countries I 4,000 stores
• Presence in the UK, Eastern Europe, Poland, Czech and Romania
• Turkey is the biggest market for Starbucks among the countries where it’s operated by Alshaya
• Opened Chipotle in Kuwait and the UAE
• Secured a partnership with Primark

While the company is already quite diverse and gearing up for more growth, one thing has remained constant, Vickerstaff said, “People continue to be our most important asset. I spend most of my time with people these days, where I feel I can make the biggest contribution.”

On the other hand, he also pointed out how another set of people – customers – keep them on their toes with their rapidly changing behaviours. “We have to use different channels to trade on and communicate with customers, offering them an omnichannel experience. So, we are heavily investing in technology to enable these experiences.

Another key focus area for Alshaya is sustainability. The Group is involved in several pioneering projects bearing in mind its planet and people commitments.

Developing loyalty and logistics are other key growth areas, along with growing the F&B side of the business.

At this point, Clark turned the conversation towards Alshaya’s plans for Saudi Arabia.

“It’s by far the biggest market in the region, hugely challenging and very much value centric. Moreover, the market is dominated by Saudis – in terms of workforce and customers – and not an expatriate audience. So, the more localised the experience, the better it is,” Vickerstaff responded.

Adding more, Vickerstaff said, how Alshaya’s sister company Mabani – one of the largest mall developers in the region – is investing $6 billion in the market to build one of the largest shopping centres in Riyadh. Notably, Mabani is also building Avenues in Qatar.

In summation, Vickerstaff stated, “We are not really interested in planting flags in new markets at the moment because there are massive opportunities to develop in markets where we are already trading. After all, the vast majority of our revenues come from 10 brands and 5 markets, although we have a portfolio of over 70 brands and operate in more than 80 markets.”