Al-Futtaim Group
Multi tool use
 | |
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
^ Al Futtaim Group: Home
^ "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}
^ Arabian Business Rich List
^ Dubai's Al Futtaim offers $86 million for Kenyan car retailer, International: Reuters, 2013
^ "afuturewithus.com". www.afuturewithus.com. Retrieved 2018-05-30.
^ Hoovers
^ 2010 List - Abdulla Al Futtaim Forbes
^ "#287 Abdulla Al Futtaim". Forbes. 8 March 2007. Archived from the original on 10 March 2007. Retrieved 23 December 2018.
^ Al Futtaim Group announces Robert Willett as new CEO Gulf News, 14 June 2010
^ Al-Futtaim Group Company Profiel arabianbusiness.com, 24 November 2012
^ "Omar Abdulla Al Futtaim: Executive Profile & Biography - Bloomberg". investing.businessweek.com. Retrieved 2018-05-30.
^ Staff (2013-09-22). "Al-Futtaim expands watches portfolio". Emirates 24|7. Retrieved 2018-05-30.
^ Al-Futtaim Watches scouts for distributors in EU.
^ "ABOUT AL-FUTTAIM MOTORS". AL-FUTTAIM MOTORS. Al-Futtaim Motors Company LLC. Retrieved 7 July 2015.
^ Nolan, Lynne. "Al-Futtaim acquires Robinson and Company". ArabianBusiness.com. Arabian Business Publishing Ltd. Retrieved 7 July 2015.
^ 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.
^ 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.
^ "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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