Majid Al Futtaim<\/a> \u2013 Lifestyle has shot up by 31 per cent to AED 473 million and EBITDA improved by 300 per cent to AED 12 million over the first six months of the year.<\/p>\nThe business opened 11 stores in the first half of the year and entered two new categories – luxury home and beauty.<\/p>\n
In January, the Lifestyle business added Italian furniture brand Poltrona Frau to its portfolio, also opening the only Shiseido store outside of Asia in May. These brands seek to complement Lifestyle\u2019s pre-existing portfolio of eight franchises and two homegrown brands and provide additional opportunities to further the business\u2019 consistent year-on-year double-digit growth.<\/p>\n
CEO of Majid Al Futtaim \u2013 Holding, Ahmed Galal Ismail, said: \u201cMajid Al Futtaim is successfully balancing strategic growth with profitable and responsible execution.<\/p>\n
“Our efforts to drive defined business objectives across our portfolio with a renewed focus on operational excellence and productivity are delivering sustainable, profitable growth and value to our stakeholders. The economic buoyancy of the UAE in conjunction with our internal focus to unlock the inherent power of our ecosystem has enabled the Group to deliver a solid half-year performance.”<\/p>\n
Majid Al Futtaim owns 29 shopping malls in five countries, including the UAE and Egypt, and operates a portfolio of more than 460 outlets. It also owns cinemas, leisure brands, retail fashion stores, properties and hotels.<\/p>\n","protected":false},"excerpt":{"rendered":"
Mena retail conglomerate Majid Al Futtaim has delivered solid results across all sectors including retail and lifestyle in H1 2023<\/p>\n","protected":false},"author":40,"featured_media":20873,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[6,1],"tags":[3944],"_links":{"self":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/23920"}],"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\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/comments?post=23920"}],"version-history":[{"count":2,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/23920\/revisions"}],"predecessor-version":[{"id":23922,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/23920\/revisions\/23922"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media\/20873"}],"wp:attachment":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media?parent=23920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/categories?post=23920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/tags?post=23920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}