{"id":18153,"date":"2022-08-18T09:55:24","date_gmt":"2022-08-18T09:55:24","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=18153"},"modified":"2022-08-21T18:33:17","modified_gmt":"2022-08-21T18:33:17","slug":"al-maya-group-acquires-majority-stake-of-e-commerce-platform-conektr","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2022\/08\/18\/al-maya-group-acquires-majority-stake-of-e-commerce-platform-conektr\/","title":{"rendered":"Al Maya Group acquires majority stake of e-commerce platform Conektr"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\nThe UAE&#8217;s Al Maya Group has acquired a majority stake in online grocery delivery platform <a href=\"https:\/\/www.meretailnews.com\/2022\/07\/15\/conektr-and-triterras-partner-to-support-small-grocery-retailers-in-uae\/\">Conektr<\/a>.<\/p>\n<p>The acquisition comes as part of the group\u2019s plans to expand its distribution base.<\/p>\n<p>The Al Maya Group, founded in 1982, operates 90 supermarkets and <a href=\"https:\/\/www.meretailnews.com\/2022\/08\/10\/uae-retail-economy-grows-by-16-per-cent-from-last-year-says-report\/\">stores<\/a> across the Middle East and employs more than 5,000 people.<\/p>\n<p>\u201cConektr is among the most transformative partnerships we have had,\u201d said Kamal Vachani, director of Al Maya Group.<\/p>\n<p>\u201cThe platform will significantly enhance our ability to drive engagement with retailers and play a more meaningful and relevant role in the distribution and retail industry.\u201d<\/p>\n<p>Conektr adopts a B2B2C business design that supports retailers\u2019 digital transformation efforts and deliveries to customers across the country, and allows retailers to manage their stock inventory <a href=\"https:\/\/www.meretailnews.com\/2022\/08\/12\/uae-consumers-trust-security-of-digital-payment-facilities-and-want-to-learn-more-says-report\/\">online<\/a>.<\/p>\n<p>\u201cThis partnership helps Conketr to plug in, play and scale our company with instant access to their world-class warehousing and fleet of services across the GCC region,\u201d said Madhusudhanan Janakarajan, founder and CEO of Conektr.<\/p>\n<p>Last month, the platform collaborated with global fintech company Triterras to provide working capital to support micro and small retailers.<\/p>\n<p>The collaboration seeks to help more than 7,000 small grocery and fast-moving consumer goods retailers seeking digital financing for improved inventory management.<\/p>\n<p>The companies also intend to support small grocery retailers that are unable to secure bank credits and have to rely on owners\u2019 equity or suppliers\u2019 credit.<\/p>\n<p>The UAE\u2019s food and grocery industry is expected to rise at a compound annual growth rate of 9 per cent to value $40.47 billion by the end of 2025, according to Research &amp; Markets.<\/p>\n<p>Amid the pandemic in 2020, online ordering and delivery of groceries amounted to $1.1 billion, as per reports by RedSeeds Consulting.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Majority stake of online grocery delivery platform acquired by retail operator Al Maya Group. <\/p>\n","protected":false},"author":39,"featured_media":18128,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[154,1323,1,4106],"tags":[4267,4198,1507,3966],"_links":{"self":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/18153"}],"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=18153"}],"version-history":[{"count":5,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/18153\/revisions"}],"predecessor-version":[{"id":18209,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/18153\/revisions\/18209"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media\/18128"}],"wp:attachment":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media?parent=18153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/categories?post=18153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/tags?post=18153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}