There is no immediate plan to shut down Carrefour in the UAE, Majid Al Futtaim's CEO of Retail, Dr. Günther Helm, confirmed days after they shuttered operations in Kuwait and Bahrain.
During an exclusive interview with Dubai Eye's Business Breakfast show on Thursday, Helm said: "In the UAE, there are no plans to do so".
He explained that the decision in Kuwait and Bahrain followed the customers' feedback. "We are always evaluating the customers needs and customer behaviour, and in the markets mentioned we have decided to move away [from Carrefour]."
Helm elaborated that "it's not a financial decision, it's really about listening to the needs of the customer and to what is the right format that we are offering".
Majid Al Futtaim closed operations in Jordan in 2024 and Oman in early January and replaced it with their own retail brand HyperMax.
ADNOC and partners to develop mega gas project
Bank fined AED 20 million for repeated regulatory failures
UAE announces Retail T-Sukuk subscription details
Dubai tops global greenfield FDI rankings fifth year in a row
Tata Electronics hit by cyber breach claiming to expose Apple, Tesla trade secret
