GMG to open more than 100 stores in Egypt by 2026

The entry into Egypt follows a major GMG expansion into Asia in December 2020 when it acquired multi-brand sports retailer Royal Sporting House (RSH)

CAIRO,Jan. 10,2022 -- GMG,a global well-being company retailing,distributing and manufacturing a portfolio of leading international and home-grown brands across sport,food and health sectors,has pledged to open more than 100 sports retail stores in Egypt within the next five years. The company will introduce its portfolio of brands focused on personal well-being as part of its wider international expansion,outlined last October in a new corporate strategy promoting healthier and more active lifestyles through its offerings.

Sun & Sand Store flagship store,Dubai,UAE

To start,GMG has confirmed that it will open a number of stores in Cairo this year. Sun & Sand Sports,a GMG brand and the Middle East's largest sports retailer,is already slated to open at the City Centre Almaza as well as Mall of Egypt. The company also intends to introduce its sneakers-focused concept,dropkick,and its Nu Athlete concept catering to a youth demographic.

Mohammad A. Baker,Deputy Chairman and CEO of GMG,commented: "We see Egypt as a compelling gateway into North Africa. The retail landscape in Egypt is incredibly dynamic with a large youth population that is increasingly embracing healthy and active lifestyles,while desiring the latest in popular international brand trends. Through our upcoming investments,we are pioneering new brand experiences and offerings in Egypt's vibrant retail landscape,while also creating new jobs within the wider economy."

E-commerce offerings are further being explored by GMG with local distribution partners,capitalizing on the company's longstanding capabilities in delivering omnichannel retail experiences.

GMG has established a dedicated head office in Cairo to fuel its local business growth. These operations are being led by Imad El Ghazal,Vice President – Egypt at GMG,who will work in alignment with the company's international brand teams.

Imad El Ghazal,added: "We are excited to introduce our successful home-grown GMG concepts to the Egyptian market. Each of these concepts has a unique appeal,and we believe can make a positive impact in people's lives. As part of our strategy,GMG will also engage with local retail leaders in Egypt to build unique consumer experiences,all while setting strong and sustainable distribution channels for both our owned brands and international partners."

Recently,Euromonitor International predicted a recovery in the growth of the Egyptian market as the country's economy stabilizes following initial disruptions from the COVID-19 pandemic.

Today,GMG has a presence across the Middle East,Southeast Asia,and North Africa. The entry into Egypt follows a major GMG expansion into Asia in December 2020 when it acquired multi-brand sports retailer Royal Sporting House (RSH). In April 2021,the conglomerate also expanded its footprint in Saudi Arabia with a new headquarters and mega-warehouse located in Riyadh. By 2025,GMG aims to double its global workforce through acquisitions,developing fresh concepts,and entering new geographies.

Since its founding in 1977,GMG has introduced more than 120 international brands into its markets while also creating quality-driven,home-grown brand concepts.