Majid Al Futtaim in Egypt and valU, a Mena BNPL lifestyle-enabling fintech platform, have crossed EGP one billion in sales.
To mark this milestone, the companies are rolling out a one-day offer at zero purchase fees, zero down payment and zero interest over six months on February 13.
The offer is available at Mall of Egypt, City Centre Almaza, City Centre Alexandria and City Centre Maadi.
Managing director of West Region Shopping Malls at Majid Al Futtaim – properties, Rasha Azab, said: “As responsible members of the community, we at Majid Al Futtaim strongly believe in our role to continue providing the Egyptian public with added convenience and choice.
“Our long-term partnership with valU has shown unparalleled success, reflected in the EGP 1 billion in sales. This significant milestone proves the strength of this strategic collaboration and the commitment of both entities. We look forward to continuing to drive growth while identifying opportunities that provide our community with flexible payment solutions for an unmatched shopping experience.”
Since the start of its long-term partnership with the finch company, Majid Al Futtaim’s shopping malls have witnessed this substantial sales record with valU’s products and special promotions.
In March, the firms launched ‘Sha2labaz’ at Mall of Egypt and City Centre Almaza, to reaffirm their long-term strategic partnership, and allow customers to receive cash reimbursements for their purchases at Majid Al Futtaim’s retail outlets beyond valU’s merchant network.
The highest sales recorded through the utilisation of valU’s unique products and promotions were achieved by the following tenants: Bershka, Carrefour, Dream 2000, EGO, El Araby Group, Hub Furniture, LC Waikiki, L’azurde, Miss L, Mobilaty, Mazaya, Pull & Bear, Raya Electronics, Select, Sharaf DG, Tradeline, Vodafone, Xiaomi, Zara, and 2B.
CEO of valU, Walid Hassouna, said: “Our successful partnership with Majid Al Futtaim confirms valU’s commitment to creating impactful financial solutions and long-term value for the people who rely on our disruptive fintech services daily.
“We aim to bring to the market financial solutions that provide affordability to all and, in return, help merchants across the retail industry in Egypt grow their businesses sustainably despite market headwinds. This milestone comes at a key time in valU’s history as we also celebrate surpassing two million transactions on valU since inception. Through continued successful partnerships such as this, we look forward to playing an even greater role in driving innovation in the market, benefiting individuals and businesses.”
