As UAE-based LuLu opens an export facility in the US, Qatar-based Al Meera announces the resignation of its chief executive and a new ecommerce retailer declares it will it open in 2017, we round up news from the region.
LuLu opens export facility in US
Through its wholly owned subsidiary Y International, LuLu has opened a food processing and logistics plant in New Jersey. The company said that it would use the facility to purchase, process, re-label and export food, non-food, chilled and frozen products made in the US to its stores throughout the GCC and Asia. Speaking at the opening of the facility, LuLu’s chairman, Yusuffali MA, said that it would help meet growing demand for US products across a number of the countries in which it operates.
Underlining the benefits that LuLu is likely to take from the facility, LuLu Oman launched a promotion under the ‘Discover America 2016’ title, marking the second time it has run such an event. The retailer said that the event will see it showcase a range of branded products flown especially into the country for its shoppers, which will all be available on special offers.
Al Meera’s chief executive resigns
Without giving reasons, Al Meera has said that its chief executive, Guy Sauvage, has submitted his resignation, which has been accepted. The company said that Sauvage will stay on until March or April 2017 ‘for the sake of continuity’.
Ecommerce to get renewed impetus with ‘Noon’ launch
The Middle East is set to see the launch of a new ecommerce company in 2017, with the arrival of Noon.com. Noon has received US$1 bn in funding, with US$500m from Saudi Arabia’s sovereign wealth fund and a similar amount from a group of 60 investors led by Mohamed Alabbar, the chairman of Emaar Properties. Noon, which will be based in Riyadh, will carry 20m products from a range of categories and will initially target Saudi Arabia and the UAE, before opening in Egypt in late 2017 or early 2018 and Kuwait in 2018, before expanding further in the medium term.