You probably first caught wind of Carrefour’s exit last year when it moved out of Jordan. That was where it all began, and since then the exits has only gathered momentum. Now, the closures are seen across parts of the Middle East. Carrefour waved goodbye to Kuwait this week, Bahrain last Sunday and Oman way back in January. Which brings us to the most obvious question – Will Carrefour shut stores in UAE as well? Are we just days away our beloved Carrefour rotisserie chicken vanishing from Dubai too? But first things first, is Carrefour closing down in these countries for real?
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Is Carrefour Really Exiting Or Is It A Wardrobe Change?
Yup, so here’s the deal – Carrefour isn’t completely storming out of the Middle East, but rather it’s getting a makeover. Majid Al Futtaim, Carrefour’s regional franchise operator has been ushering in a shiny new brand called HyperMax to take Carrefour’s place. HyperMax, from what we know, is essentially about fresh, cost-effective and regionally sourced groceries. Yup, the local farmers are squealing in joy!
Why The Sudden Outfit Change?
As per financial experts, there are 4 major factors that are driving this decision:
- Money – If the sales figues are analysed, you’d know that their profit isn’t something that could be described “dazzling”.
- Competition – It has always been tough and it’s getting tougher by the day. Lulu and other players have been opening up stores left, right and center, to make things less easier.
- Boycott Global Brands – Due to political tensions over the last few years, many consumers have ditched global brands that do not show solidarity with Palestine.
- Local Love. There’s been an inclincation towards homegrown brands, especially with the increased visibility offered by social media. Also to a lot of people out there, nothing says “I belong” quite like buying veggies labelled grown nearby.
What We Know About HyperMax So Far
Um, it’s not exactly taking over the world just yet, so the neon-green HyperMax logo isn’t going to shimmer across every corner of Dubai. For now, it’s taking it slow and a few months at a time, showing up only in select markets that have already bid farewell to Carrefour. And while the brand is “independently owned and operated”, what it really means is that Carrefour is stepping back while Majid Al Futtaim does its own thing. We could call it something like a less “career-ending meltdown” and somewhat of a “celebrity changing stylists” – I mean, same person, same job, but suddenly the hair’s glossier, the clothes are more glamorous and the whole aura gets a makeover. In other words, HyperMax is the glow-up, not the goodbye.
But What About the UAE?
Of course, you clicked on this article to read this So, is Carrefour disappearing here in the UAE too? Much to our relief, experts say that it is highly unlikely. Also, Majid Al Futtaim in an interview with The National, has mentioned that he has no plans in establishing Hypermax in other markets currently. At the moment, he is looking at establishing six stores in Bahrain, adding to 44 in Oman and Jordan.
Additionally, Carrefour in the UAE is practically an institution. It has built deep consumer trust, and rebranding it would mean risky business. Having said that, if history is anything to go by, remember when Majid Al Futtaim turned Cinestar Cinemas into VOX?, then this could just be the start of another retail makeover story.
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