Kuwait, January 8, 2009: Mr. Mohammed Alshaya, Chairman and Managing Director of Mabanee, met recently with Chris Meares, Global CEO Private Banking, HSBC. Mr. Meares was on a visit to Kuwait as part of a tour throughout the Gulf, reviewing individual markets and briefing senior business leaders on the global economic situation, HSBC's insights on the circumstances and their likely development in the short and long term.
The two discussed current investment opportunities presenting themselves both in the Gulf and at a global level in the context of the current financial crisis, as well as future trends and prospects. The overall effect on the banking community was also noted, and the implementation of increased regulation within certain sectors. They also conferred on the real estate and retail industry within the Middle East and their future growth projections.
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About M.H. Alshaya Co.
M.H. Alshaya Co. is a leading international franchise operator for over 40 of the world's most recognized retail brands, including Starbucks, H&M, The Body Shop, Foot Locker, Mothercare, Debenhams, River Island and Boots. The company operates over 1,700 stores across six divisions: Fashion & Footwear, Health & Beauty, Food, Casual Dining, Optics and Pharmaceuticals.
M.H. Alshaya Co. stores can currently be found in 16 markets across the Middle East and North Africa, Turkey, Cyprus, Russia and Poland. More recently, the company launched operations in Slovakia, Czech Republic and Hungary. It employs more than 15,000 people from over 35 nationalities.
The company has established itself as the industry leader across these territories through a combination of local market understanding and a comprehensive commitment to customer service. Growth in each of its operating divisions and brands is supported by continuous investment in talent and infrastructure. It applies best practices in retail operations, merchandising, marketing, information technology, logistics, real estate, human resources and financial controls.
M.H. Alshaya Co. is the retail business of the Alshaya Group, which was founded in Kuwait in 1890 and today represents one of the most dynamic companies in the Middle East. In addition to its retail operations, the Alshaya Group is active in a number of other sectors including real estate, automotive, hotels, trading and investments.
Learn more about the company at www.alshaya.com.
© Press Release 2009
