Majid Al Futtaim, a prominent company based in the UAE, has stated that there are “no immediate plans” to expand its HyperMax grocery retail brand to new markets.
According to a statement given to Khaleej Times, the purpose of launching HyperMax is to provide customers with “affordable locally-sourced” products.
Headquartered in Dubai, Majid Al Futtaim holds exclusive rights to operate Carrefour in 12 regions spanning the Middle East, Africa, and Asia. It stands as one of the largest family-owned enterprises, with ventures in shopping malls, real estate, retail, and leisure across these areas.
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Carrefour has shut down its operations in Bahrain and Kuwait this month, following the cessation of its Oman operations in January. In Jordan, the brand ended its operations last year.
After these closures, Majid Al Futtaim has been focusing on its HyperMax brand.
“Majid Al Futtaim consistently evaluates its businesses to remain flexible and responsive to changing market dynamics,” the statement mentioned.
“In response to the increasing demand for locally sourced products and services in several markets, Majid Al Futtaim launched HyperMax – a standalone grocery retail brand. The mission of HyperMax is straightforward: to offer fresh and affordable locally sourced products to our customers in Jordan, Oman, Bahrain, and Kuwait, while providing a modern, customer-centric shopping experience. Currently, there are no plans for HyperMax to expand into other markets,” the statement continued.
Majid Al Futtaim has announced the opening of six new outlets in Bahrain.
