Dubai-based retailing conglomerate Gulf Marketing Group (GMG) has opened a new headquarters in Cairo, Egypt to support a large expansion programme in that country.
In January 2022, the company announced plans to open more than 100 sports retail stores across Egypt by 2026. GMG retails, distributes and manufactures a portfolio of health, sport and food brands across the Middle East. In Egypt, its portfolio includes Sun & Sand Sports, Dropkick, Columbia NIKE, and Peaty’s.
The new headquarters, located in District 5 of the Egyptian capital, are part of an investment that will see GMG create more than 1,000 jobs in the country. The headquarters were opened on March 12, 2023.
GMG announced a strategic partnership earlier in 2023 with Egyptian real estate developer Talaat Moustafa Group to open a Sun & Sand store at the new All Seasons Park mall and a Nike store at the Open Air Mall.
According to GMG, it is also seeking local partnerships with distribution companies to support an online retail offering in the country.
The Egyptian government has plans to build 21 new cities around the country as it tries to manage a population that is expected to expand from 100 million to as much as 180 million within the next 40 years. These new urban centres are expected to provide significant opportunities for foreign direct investment in the retail and real estate sectors.
GMG aims to double its workforce by 2025 through acquisitions, new service offerings and the expansion into new territories. The company entered the Asian market in 2020 through the acquisition of Royal Sporting House, one of the largest multi-brand sports retailers in the region. In January 2023, GMG opened its new Asian headquarters at TRX Tower in Kuala Lumpur, Malaysia.