By 2025, GMG aims to double its global workforce through acquisitions, developing fresh concepts and entering new geographies
UAE-based conglomerate GMG is aiming to expand its presence in the Egyptian market. It recently opened its headquarters for Africa, in District 5, Cairo.
The company’s entry into Egypt follows a major expansion into Southeast Asia, where it recently opened its Asian headquarters in Malaysia.
By 2025, it aims to double its global workforce through acquisitions, developing fresh concepts, and entering new geographies.
Since its launch in 1977, the company has introduced more than 120 international brands into its markets in addition to home-grown brand concepts.
GMG in Egypt
The Egyptian retail sector is one of the Middle East’s largest and is growing rapidly. Kearney’s 2021 Global Retail Development Index projected an annual growth rate of around 5 per cent for Egyptian retail, rising from $200bn in 2020 to $254bn in 2025.
E-commerce is experiencing a similarly positive trend, expected to increase from $7.7bn in 2022 and $13.2bn in 2025.
To tap these opportunities, GMG is also looking to increase its current Egyptian workforce 10 times in the next four years, adding more than 1,000 jobs to the Egyptian economy.
Read: GMG Sports Retail’s Simon Smith on the company’s expansion and new in-store offerings
These roles will be split across retail sales, administration and management roles.
The UAE-based conglomerate’s latest investment builds on its bold growth plans to open more than 100 sports retail stores across Egypt by 2026 for its international and home-grown sports brands: Sun & Sand Sports, dropkick, Nu Athlete and Nike.
Earlier this year, the company also announced a strategic partnership with Talaat Moustafa Group (TMG), Egypt’s leading real estate developer, to launch a Sun & Sand Sports store at the new All Seasons Park mall, and a Nike store at the highly sought-after Open Air Mall.
The company is also keenly exploring e-commerce opportunities in the country with local distribution partners, backed by an ambitious omnichannel strategy.
Mohammad A Baker, deputy chairman and CEO of GMG, commented: “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.”
Our Deputy Chairman and CEO Mohammad A. Baker offers his insights into how GMG’s expansion into #Egypt’s vibrant retail landscape will inspire the country’s youth to embrace healthy, active lifestyles.
@MAB_GMG @SunSandSport #BornToWin https://t.co/JfmlQwKlaY pic.twitter.com/iU4joEt46Z
— GMG (@GMGVoice) January 11, 2022
Commenting on the opening, Imad El Ghazal, senior vice president – Sports, Africa, GMG, “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.”
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