By Joey Aguilar
Staff Reporter
Al Meera Consumer Goods Company will establish 14 new stores across Qatar as part of the company’s expansion plans in the coming years, deputy CEO Dr Mohamed Naser al-Qahtani announced on Tuesday.
“Al Meera’s expansion plans are continuing with the launch of nine new branches, as well as the lease of the Gulf Mall branch,” he told a press conference convened to announce the 10th anniversary celebration this year.
Currently, Al Meera has a total of 47 branches, comprising 42 in Qatar and five in Oman. The plan to expand operations is a result of strategic research and strategy to keep pace with the country’s urban planning, he said.
Working closely with Ministry of Municipality and Urban Planning, Al Meera sees the growing population in many areas in Qatar as a good opportunity to set up new stores.
“These strategic plans and developments have contributed to a net sales jump from QR 507.9mn in 2006 to QR 2.176bn in 2014,” Dr al-Qahtani noted.
The net shareholder return increased to nearly 10 times from QR26.1mn in 2006 to QR226.6mn in 2014 with earnings per share jumping from QR2.61 in 2006 to QR11.33 in 2014.
According to Dr al-Qahtani, all Al Meera branches are equipped with world-class technologies and solutions with advanced lighting systems and latest storage processes and technologies, and topnotch shelves.
“Since Al Meera’s identity was revamped under the slogan ‘Your favourite neighbourhood retailer,’ the company has poured its energy and efforts into living up to its motto, beginning with the overhaul and modern redesigned of several flagship branches,” he said, thanking the board of directors and all their employees for contributing to the company’s achievements in the past 10 years.
Al Meera CEO Guy Sauvage said building their own shopping malls without depending on the available space was an advantage for the group as compared to other retailers.
“We are not depending on the number of square metres, we are making our own market, we are developing and opening our own shopping malls,” he stressed.
“We are depending on our own organic expansion.”
As part of its 10th anniversary celebrations, Al Meera will offer its customers a cash back promotion.
For every transaction of QR500, customers will get a QR50 voucher. The promotion, which begins on Wednesdday, will run until December 4 in all its branches.
