With e-commerce still a futuristic concept as the internet was non-existent. In fact, 1973 was also the year that Federal Express (now FedEx) was created, paving the way for the logistics supply chain that now forms an integral part of the online shopping experience. Hence the fact that Landmark is still here today – and has not just survived but also thrived to become one of the largest retail organizations in the Middle East and India, has meant the group has had to constantly reinvent itself and its offerings. The company’s brands include the likes of Centrepoint, Babyshop, Splash, Shoemart, Lifestyle, Max, Home Centre, Home Box, Emax and discount outlet Viva. The group has also diversified into the leisure, food and hospitality segments with Citymax Hotels, Fitness First and restaurant division Foodmark. More recently, Landmark also ventured into pure-play e-commerce with a new brand called Styli, focusing primarily on the Saudi market. Offering over 30 brands including private labels and external sports brands such as Nike, Puma and Under Armour, Styli targets the kingdom’s burgeoning youth segment, and has served more than 375,000 customers since its launch in November 2019.
While e-commerce was already on an upward trajectory, Covid-19 provided a massive boost. The e-commerce sector in the GCC is set to reach $50bn by 2025, a recent report by Kearney Middle East found, with a strong growth of 20 per cent CAGR forecast between 2020 and 2022, reducing to a CAGR of 14 per cent until 2025. The same growth that was expected to occur prior to the pandemic has now accelerated, and consumers, who have adapted to online marketplaces, will associate this as the new normal during and post Covid. To keep up with its growing e-commerce and omni-channel capabilities, Landmark also opened a massive Dhs1bn fully-automated logistics and distribution hub at JAFZA in Dubai in November 2019. Claimed to be the MENA region’s largest such privately-owned facility, it operates under the brand name of Omega Logistics and features advanced technology and processes. 2020 has taught us to adapt better and to make decisions faster. In 2021 we will continue to focus on e-commerce, growing our business in South-East Asian markets and strengthening supply chain infrastructure.