The UAE-based Majid Al Futtaim has confirmed that it has “no immediate plans” to expand its grocery retail brand HyperMax to other markets.
In a statement to Khaleej Times, the company said the launch of HyperMax is aimed at bringing “affordable locally-sourced” products to its customers.
The Dubai-headquartered company owns the exclusive rights to operate Carrefour in 12 markets across the Middle East, Africa, and Asia. It is one of the largest family-owned businesses with interests in shopping malls, real estate, retail, and leisure across the Middle East, Africa, and Asia.
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Carrefour has ceased operations in Bahrain and Kuwait this month, while its Oman operations were closed in January this year. In Jordan, the French retailer ceased operations last year.
Following the closure in these four markets, Majid Al Futtaim is operating its HyperMax brand.
“Majid Al Futtaim continuously reviews its businesses to stay agile and responsive to evolving market dynamics,” it said in the statement.
“In response to a growing demand for locally sourced products and services in a number of our markets, Majid Al Futtaim has launched HyperMax – an independently owned and operated grocery retailing brand. HyperMax’s mission is clear: bringing fresh and affordable locally sourced products to our customers in Jordan, Oman, Bahrain, and Kuwait, while delivering a modern, customer-first shopping experience. At present, there are no immediate plans to expand HyperMax across other markets,” said the statement.
Majid Al Futtaim announced the opening of six outlets in Bahrain.
