REGIONAL ROUND UP FEATURE - EGYPT
A LOCAL APPETITE FOR
INTERNATIONAL LUXURY RETAIL The luxury consumption in Egypt is on the rise and private sector banks on the unlimited possibilities
HEBA ABDALLAH
Marketing pundit and a renowned figure in the retail industry, Heba Head of Marketing – Mall Management Abdallah is the Head of Marketing of Egypt’s leading entertainment Al Futtaim Group | Cairo Festival City Mall and shopping destination, Cairo Festival City Mall. Drawing on more than 22 years of extensive experience in Real Estate, Retail and Banking, out of which 14 years of them in the field with a strong portfolio of brands, Heba has been leading Cairo Festival City Mall’s marketing activities since 2019. She has made impactful transformations in the brand since joining and led numerous successful campaigns that revamped the retail industry in Egypt.
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uxury retail in Egypt has been a thriving business, with a backlog of eager retailers looking to establish themselves in this new hub. Luxury retail has proven to be a true investment magnet on the local level while Egyptian consumers’ appetite for fashion brands has been on the rise. The implementation of the government’s strategy to revitalize the country’s economy and pursue a rejuvenated national identity has resulted in a large rise in inbound investment in Egypt’s luxury retail. The retail sector continues to be one of the most active, dynamic, lucrative, and promising industries to invest in, with annual retail sales exceeding EGP 523 bn in 2019, which is expected to grow to EGP 787 bn by 2023 as per recent reports. These figures are credited to the strong population and a growing and affluent middle and upper class.
RETAIL PEOPLE . MAY - JUL 2022
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The private sector is playing an integral role in fueling the growth we are witnessing in retail and the food & beverage sectors, leveraging Egypt’s stance as a large consumer market which has been a key driver of this sector’s growth. In recent years, the label “luxury” has become much more prevalent and rigorously applied, and the Middle East now serves as a key distribution centre for high-end goods. Luxury Retail in Egypt is a new approach for the globe to achieve the dreamed-about goal of setting foot in the world’s most desirable locales. Egypt’s growth initiatives have been centred on utilizing Egypt’s strategic location, as well as its abundant natural resources and young population. While beginning modestly in Egypt through small artisanal handcrafted items, the advent of shopping malls in Egypt has
