Al-Futtaim Group




Not to be confused with Majid Al Futtaim Group.






































Al-Futtaim Group
Type
 Private
Industry conglomerate
Founded 1930s
Headquarters
Dubai, United Arab Emirates
Key people
Omar Al Futtaim (CEO), Abdulla Al Futtaim (owner)
Number of employees
 over 42,000 (2017)[1]
Subsidiaries
Kolber Geneve
Westar
Website www.alfuttaim.com

The Al-Futtaim Group is a large conglomerate operating in the United Arab Emirates.




Contents






  • 1 History


  • 2 Operations


  • 3 Businesses


    • 3.1 Al Futtaim Motors


    • 3.2 Robinsons & Co.


    • 3.3 IKEA




  • 4 References


  • 5 External links





History


The group was founded in the 1930s and expanded rapidly in the 1940s and 1950s becoming an integrated commercial, industrial, and services organization.[2]


The Al-Futtaim family split its business interests in 2000 with Abdulla Al Futtaim controlling the automotive and mainly retail business, and his cousin Majid controlling a property development business (now known as Majid Al Futtaim Group).[3]


In September 2013, the group bid $86 million to take full control of the Nairobi-based car retailer CMC Holdings.[4]



Operations


Al-Futtaim Group employs over 44,000 people[5] and operates eight divisions comprising automotive, electronics, insurance, services, real estate, retail, industries, and overseas.[6] Sheikh Mohammed bin Rashid Al Maktoum mediated a settlement between Abdulla Al Futtaim and his rival, cousin Majid Al Futtaim, in 2000 which split the assets, liabilities and operations of the then-larger Al Futtaim Group.[7]


In 2007, Forbes said Al Futtaim's conglomerate was so large and profitable that it could account for up to 15% of Dubai's gross domestic product.[8]


The CEO of Al-Futtaim Group was Robert Willett[9] until he suddenly resigned in January 2011. After that Omar Al-Futtaim became a Board Member, CEO and Vice Chairman [10][11]



Businesses


Al-Futtaim's businesses include Kolber Geneve[12] and Westar.[13]



Al Futtaim Motors


In 1955, Al-Futtaim Motors was established and is the exclusive distributor of Toyota, Lexus, Hino trucks and Toyota Material Handling equipment in the UAE.[14]



Robinsons & Co.


In April 2008, the Al-Futtaim Group bought 88% of the shares of Robinsons & Co. at S$7.20 per share.[15][16]



IKEA


The Al-Futtaim Group holds the franchise rights to operate IKEA stores in UAE, Qatar, Egypt and Oman.[17] It operates four IKEA stores in UAE, Qatar and Egypt.[18]



References





  1. ^ Al Futtaim Group: Home


  2. ^ "Al Futtaim Group: Profile". Archived from the original on 2010-02-04. Retrieved 2010-01-23..mw-parser-output cite.citation{font-style:inherit}.mw-parser-output q{quotes:"""""""'""'"}.mw-parser-output code.cs1-code{color:inherit;background:inherit;border:inherit;padding:inherit}.mw-parser-output .cs1-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/6/65/Lock-green.svg/9px-Lock-green.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-lock-limited a,.mw-parser-output .cs1-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/d/d6/Lock-gray-alt-2.svg/9px-Lock-gray-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Lock-red-alt-2.svg/9px-Lock-red-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration{color:#555}.mw-parser-output .cs1-subscription span,.mw-parser-output .cs1-registration span{border-bottom:1px dotted;cursor:help}.mw-parser-output .cs1-hidden-error{display:none;font-size:100%}.mw-parser-output .cs1-visible-error{font-size:100%}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration,.mw-parser-output .cs1-format{font-size:95%}.mw-parser-output .cs1-kern-left,.mw-parser-output .cs1-kern-wl-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right,.mw-parser-output .cs1-kern-wl-right{padding-right:0.2em}


  3. ^ Arabian Business Rich List


  4. ^ Dubai's Al Futtaim offers $86 million for Kenyan car retailer, International: Reuters, 2013


  5. ^ "afuturewithus.com". www.afuturewithus.com. Retrieved 2018-05-30.


  6. ^ Hoovers


  7. ^ 2010 List - Abdulla Al Futtaim Forbes


  8. ^ "#287 Abdulla Al Futtaim". Forbes. 8 March 2007. Archived from the original on 10 March 2007. Retrieved 23 December 2018.


  9. ^ Al Futtaim Group announces Robert Willett as new CEO Gulf News, 14 June 2010


  10. ^ Al-Futtaim Group Company Profiel arabianbusiness.com, 24 November 2012


  11. ^ "Omar Abdulla Al Futtaim: Executive Profile & Biography - Bloomberg". investing.businessweek.com. Retrieved 2018-05-30.


  12. ^ Staff (2013-09-22). "Al-Futtaim expands watches portfolio". Emirates 24|7. Retrieved 2018-05-30.


  13. ^ Al-Futtaim Watches scouts for distributors in EU.


  14. ^ "ABOUT AL-FUTTAIM MOTORS". AL-FUTTAIM MOTORS. Al-Futtaim Motors Company LLC. Retrieved 7 July 2015.


  15. ^ Nolan, Lynne. "Al-Futtaim acquires Robinson and Company". ArabianBusiness.com. Arabian Business Publishing Ltd. Retrieved 7 July 2015.


  16. ^ Wong, Ai Ai. "Al-Futtaim Group Takeover of Robinsons". Baker & McKenzie. Baker & McKenzie. Archived from the original on 2015-07-10. Retrieved 7 July 2015.


  17. ^ Deulgaonkar, Parag (19 March 2017). "UAE's Al-Futtaim plans new Ikea stores in Middle East". ArabianBusiness.com. Archived from the original on 23 December 2018. Retrieved 23 December 2018.


  18. ^ "Inter IKEA Systems B.V. - IKEA franchisees". franchisor.ikea.com. 29 November 2018. Archived from the original on 23 December 2018. Retrieved 23 December 2018.




External links


  • Official website



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