You are at the helm of a family-owned business with a rich 40-year legacy. What values have helped drive you as a CEO?
Keep evolving and be the change. You have to be passionate about what you do and find the drive that keeps you moving forward. And most importantly, be excellent in what you do.
To quote Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai: ‘The race for excellence has no finish line.’ Inspired by such wise words, I believe that if you truly want to achieve something, there is never a time when you can sit back and say, ‘it’s done now.
Despite our legacy as one of the UAE’s oldest family-owned businesses, GMG still operates with a start-up mentality. For example, at the end of 2020, when business sentiment was at its lowest, we took the bold step of acquiring a popular Asian retailer, Royal Sporting House, and expanding into Asia.
Last year, we expanded our Nike partnership to Iraq and Egypt, increased our investments in KSA and scaled up some of our verticals. Our major retail partners have been with us for decades because they realise that we are never complacent despite our success.
GMG has a much diversified business portfolio. Was that intentional or has that ambition evolved?
No one could have foreseen GMG’s phenomenal growth when my father opened his first shop in Dubai in 1977. Our purpose has remained constant: to inspire others to win in all they do. This has driven our growth into a global retailer employing around 7,000 people in 12 countries across the Middle East, North Africa and Asia.
We are now entering a new chapter in our history as we take the brand to even greater heights. This is guided by our recently launched corporate strategy that reiterates our mission to promote healthier and more active lifestyles through four main business verticals – GMG Sports, GMG Food, GMG Health, and GMG Consumer Goods.
What are some of your biggest takeaways from 2021 and the start of 2022?
Last year was a period of great disruption and extraordinary resilience.
The most important lesson to come out of this period was the power of collaboration and your people.
One thrives by collaborating and contributing to the success of a broader ecosystem of partners, public entities, institutions, and more. At GMG, we have introduced more than 120 brands into our markets, and we know first-hand that investing in our partner’s success has paved the way for our success.
Given the majority of GMG’s business remains in retail, what are your predictions for the industry this year?
The UAE’s retail sector is a model for the world, proven by its resilience in recent years. The omni channel retail model will continue to expand in 2022 in the region, combining digital and physical experiences. According to a recent study, live streaming is already a quickly growing market, projected to reach nearly $224bn (AED 822.7bn) by 2028.
We will also see the rise of a more environmentally conscious consumer, with a recent BCG report revealing that 90 percent of consumers are more concerned about sustainability than ever before.
We picked up on this demand early and launched M-A-D to offer the most innovative, on-trend and eco-conscious sports and streetwear fashion.
Finding a way for retailers to renew themselves will be critical. It’s all about the experience and how customers are engaged emotionally. Hence retaining customer loyalty will be more important than ever.
What does the future hold for GMG specifically?
GMG will continue to evolve as a global well-being company. Building on our growth and expansion in 2020 and 2021, GMG will continue to explore the potential in every market we operate in.
We’ve already kicked off 2022 by announcing our aggressive plan to open more than 100 stores in Egypt by 2026. In addition to brick-and-mortar, we will continue developing our omni channel strategy to provide a more seamless customer experience. Hyper-personalization will be big in retail.
Today consumers want more than just a good service; the whole experience has to be personal. A recent study from BCG shows that based on the Personalisation Maturity Index, retailers saw a 25 percent increase in revenue due to their advanced personalisation capabilities.
What is your advice for the next generation of leaders of family-owned businesses?
The next generation will operate in an altered business landscape, primarily driven by the internet. Today we’re exploring a reality where AI adds value to customer experiences and robots can reduce the burden of labour-intensive tasks at a warehouse.
The next generation of entrepreneurs must also prioritise sustainable growth anchored in a renewed commitment to environmental protection, safety and the well-being of employees and the community.