{"id":16882,"date":"2022-03-10T21:06:36","date_gmt":"2022-03-10T21:06:36","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=16882"},"modified":"2022-06-12T19:45:25","modified_gmt":"2022-06-12T19:45:25","slug":"majid-al-futtaim-egypt-to-open-carrefour-offshoot-supeco","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2022\/03\/10\/majid-al-futtaim-egypt-to-open-carrefour-offshoot-supeco\/","title":{"rendered":"Majid Al Futtaim Egypt to open Carrefour offshoot, Supeco\u00a0"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\n<span data-contrast=\"auto\">Majid Al Futtaim, a leading retail group in the Middle East, will open Supeco, a supermarket-cash and carry hybrid, in Cairo by the end of the year.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Supeco, an offshoot of Carrefour, will boast a warehouse environment and sell everyday items at low-cost prices.\u00a0<\/span><span data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Philippe Penguilhan, country manager of Carrefour Egypt at Majid Al Futtaim Retail, said: \u201cConstruction of the new store is under way and will be followed by many other branches under the Supeco brand.\u201d<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The store will cater to wholesalers, retailers and walk-in customers, Mr Penguilhan told news site Zawya.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">In its 2022 report, market research consultancy firm BOOST for Consultations placed Egypt\u2019s e-commerce market value in 2021 at $100 billion and estimates a 30 per cent increase by the end of the year.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Mr Penguilhan wants to capitalise on this.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u201cThis year, Majid Al Futtaim plans to invest EGP250 million in the country,\u201d he said.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">At present, Carrefour operates 14 hypermarkets and 45 supermarkets across Egypt, seven of which opened last year.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">New stores are planned for Alexandria, New Al-Alamain, the Red Sea and the Delta. Carrefour Gourmet stores, offering premium and speciality products, are also in the pipeline.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Carrefour Egypt reported a 40 per cent growth in sales from 2020 to 2021.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">In an interview with Ahram Online, Mr Penguilhan was confident about Carrefour\u2019s future in Egypt, attributing the retailer\u2019s potential to the country\u2019s growing population and labour availability.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Carrefour will also expand its e-commerce channel, Mr Penguilhan said.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Middle East Economic Digest, market researcher for the region, projected Egypt\u2019s retail market will grow <\/span><span data-contrast=\"none\">at a compounded annual growth rate of five per cent, from its $200 billion value in 2020 to $254 billion in 2025.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">To capitalise on this predicted growth, Majid Al Futtaim opened a retail training centre at City Centre Almaza in Egypt.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cairo to welcome hybrid of supermarket and wholesaler this year. <\/p>\n","protected":false},"author":39,"featured_media":17390,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1323,1],"tags":[4027,571,3973,3944,4026],"_links":{"self":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/16882"}],"collection":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/comments?post=16882"}],"version-history":[{"count":3,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/16882\/revisions"}],"predecessor-version":[{"id":17094,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/16882\/revisions\/17094"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media\/17390"}],"wp:attachment":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media?parent=16882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/categories?post=16882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/tags?post=16882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}