Majid Al Futtaim Retail Celebrates 20 Years In Egypt With EGP400 Million Investment Planned In 2023

• Majid Al Futtaim Retail plans to invest more than EGP 750 million in Egypt’s economy by 2025 to expand and enhance its diverse offerings
• Celebrating its 20^th anniversary this year, Carrefour will be offering incredible promotions from January 1 – February 14 

Cairo, Egypt, December 19, 2022: Carrefour, owned and operated by Majid Al Futtaim in Egypt, held a roundtable discussion today honoring the brand’s 20th year in Egypt. At the event, Philippe Peguilhan, Country Manager of Majid Al Futtaim Retail in Egypt, announced Carrefour’s milestones and future plans, revealing how it will be celebrating its 20th anniversary with customers from January 1 – February 14. 

Having already invested EGP 2.3 billion to date, Majid Al Futtaim plans to invest EGP 400 million in 2023 and over EGP 750 million by 2025 –in turn, doubling the size of Carrefour. Part of this investment will be utilised to expand Majid Al Futtaim’s soft discount store, Supeco, and open further Carrefour Gourmet stores across various cities in Egypt.  

Honoring Carrefour’s commitment towards the community in which it operates, the brand is devoted to investing in local talent and providing Egyptians with valuable work opportunities. To that end, Majid Al Futtaim Retail is planning to launch a ‘Retail Business School’ in 2023 to provide high-quality education to better equip the country’s booming retail sector. 

Philippe Peguilhan, Country Manager of Majid Al Futtaim Retail in Egypt, stated: “We are proud to celebrate 20 years in Egypt as we continue investing in the local community and economy by collaborating with key local suppliers, ensuring stock availability and offering competitive prices. Looking at the year ahead, we look forward to continuing our expansion and have allocated EGP 400 million to invest across 2023. Our focus is not only on business expansion, but also on continuing to deliver value through every experience for our colleagues and customers.”

Over the past year, Carrefour has celebrated several milestones including reaching 35 million customers and establishing various partnerships. These partnerships include expanding Majid Al Futtaim Retail’s physical footprint through a collaboration with Talaat Moustafa Group to expand its offerings and launching the first Carrefour Gourmet and Supeco stores in Egypt.  

In addition to these business expansions and partnerships, Carrefour has also partnered with UNICEF and the Ministry of Social Solidarity to provide training programs for 200 young adults and collaborated with the Ministry of Environment to begin eliminating single-use plastic across its Egyptian stores – a testament to the company’s unwavering commitment to and support for its community and the environment.