Al Rashid Group unveils big expansion plans
Manama, January 12, 2014
Bahrain was the launchpad for Al Rashid Group, one of the region's biggest retail conglomerates - now celebrating its 40th anniversary, according to its top official.
In fact Al Rashid Group's transformation into a fast-growing and innovative retail company has mirrored the development of the kingdom into a business-friendly investment oasis, stated ARG Group chairwoman Shaikha Hind bint Salman Al Khalifa while talking to the Gulf Daily News, our sister publication.
"Bahrain's leadership, policies and people were key drivers of the success of the group over the last 40 years," she told in an exclusive interview with the GDN.
The group will celebrate 40 years of existence and its partnership with the $6 billion Dubai-based Landmark Group in a grand event at the Ritz-Carlton Bahrain, Hotel and Spa tomorrow.
The event will see His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Premier, congratulating the Shaikh Rashid family and Micky Jagtiani, who founded Landmark in Bahrain in 1973 with a single store.
The chairwoman said the fact that Bahrain was also the launchpad for one of the largest retail conglomerates in the Middle East and India, spoke volumes about the kingdom.
Shaikha Hind, an ambassador for 'Brand Bahrain', said: "The Al Rashid Group is a family business and whatever we do is aimed at catering to Bahraini families.
"A reason why we are active in the retail sector is because of the promise that it holds for providing employment to Bahraini nationals," she said.
"This sector has also the potential for improving the overall quality of lifestyle indices of the kingdom by injecting new skills and jobs into the economy.
"We have ambitious targets for the next few years which will see our footprint expand across Bahrain, specifically Juffair, Hamad Town, Riffa and Muharraq."
The group has a diverse portfolio of retail and hospitality brands and has seen around 10 per cent growth annually. Shaikha Hind said the plan was to open 15 new stores in these areas over the next few years taking the turnover of the partnership to BD100 milion ($263.8 million) by 2017.
"Maximising value for our consumers is our USP... We always strive to ensure that through our stores and our products we give more to them," she said.-TradeArabia News Service