- Dr. Mohammed Naser Al Qahtani: Since its establishment, Al Meera’s achievements have poured into customer and shareholder satisfaction, aligning with its strategic goals to put sustainable services at the top of its priorities
- Supporting the Qatar National Vision 2030, Al Meera is steadily progressing toward achieving its overarching goal of becoming a leader in the retail sector
QATAR, 2015-11-27 — /EPR Retail News/ — Al Meera Consumer Goods Company (Q.S.C) celebrated its 10-year anniversary, capping a decade of achievements that have poured into customer and shareholder satisfaction.
Al Meera Consumer Goods Company (Q.S.C) was established in 2005 under the law (24) for the year 2004, in a transfer of the COOP to a Qatari shareholding company. Within the first few months of its establishment, Al Meera has garnered the support and backing of Highness Sheikh Tamim Bin Hamad Al Thani, Emir of the State of Qatar and His Highness, the Father Emir Sheikh Hamad bin Khalifa Al Thani.
In a recent press conference, the company celebrated the achievements that have marked its journey since its establishment and, on the occasion of its tenth anniversary, offered customers a Cash Back of 10 percent of their purchase value – with each customer receiving a QAR 50 purchase voucher on every purchase transaction of QAR 500 – during the period running from November 25, 2015 through to December 4, 2015.
In its decade-long history, Al Meera has played an integral role in Qatar’s sustainable development projects, with unwavering commitment to social and cultural values in its position as a leading national company. Keeping pace with the future, Al Meera has made strides in the field through a strategic plan that has entailed branch expansion in line with Qatar’s urban boom and population growth, aligning with the Qatar National Vision 2030 for sustainable development across all Qatari territories.
Bringing life to family shopping, the company has adhered to world-class shopping standards at the service of consumer needs and satisfaction, as well as at the various communities, nationals and residents in the State of Qatar.
On this occasion, Dr. Mohammed Naser Al Qahtani, DCEO at Al Meera Consumer Goods Company (Q.S.C), expressed his appreciated and gratitude for His Highness Sheikh Tamim Bin Hamad Al Thani, the Emir of the State of Qatar, for his wise leadership, support and directives to enforce the local economy and institutions at the service of sustainable development. He also thanked His Highness, father of the Emir, Sheikh Hamad Bin Khalifa Al Thani, for laying down the foundations upon which the nation was built and continues to evolve.
In his press conference, Dr. Al Qahtani stressed on that since the company’s establishment, Al Meera’s achievements have poured into customer and shareholder satisfaction, aligning with its strategic goals to put sustainable services at the top of its priorities.
Dr. Al Qahtani also took the attendees over the Al Meera journey, which started with offering nationals and residents with consumer goods and products across categories, and which has evolved with the upgrading and development of 26 branches spread across the Qatari territory between the years 2005 and 2006, as well is with several identity and strategy revamps in the aftermath of the challenging 2008 financial crisis.
Notable achievements over the past 5 years
With regards to the acquisitions and agreements that have been accomplished by the company, Dr. Al Qahtani commented:
“Throughout its history, Al Meera has played an integral role in Qatar’s sustainable development, enjoying a slew of achievements that have been spearheaded by its executive management under the guidance of the Board of Directors. Many strides have been made toward achieving the company’s expansionary vision and strategy to keep pace with the various developments that Qatar is witnessing across its cities, municipalities and territories, always at the service of the Qatar National Vision 2030.”
He added: “Al Meera’s strategic vision and mission began with the acquisition of the Qatar Markets Company (Giant Stores) and the Al Oumara Bakeries company. Moreover, Al Meera has signed a franchise agreement with WHSmith Travel Limited, a leading provider of magazines, books, stationary and office supplies, to operate WHSmith stores in Qatar.
Expansion and renovation
Speaking of the company’s strategic expansion and branch renovation vision, Dr. Al Qahtani said:
“Since Al Meera’s identity was revamped under the slogan “Your Favourite neighbourhood retailer”, the company has poured its energy and efforts into living up to its motto, beginning with the overhaul and modern redesigned of several flagship branches.”
“The company has also proceeded with the build and launch of a series of branches, the first of which was the Abu Nakhla branch, followed by two modern shopping centers to serve the residents and visitors of Nuaija and Legtaifia – in line with the company’s expansionary policy across the state’s various areas. Additionally, the company has leaded a branch from the Dasman Group, with a later launch slated for the Al Meera Hypermarket on the airport road.”
He continued saying:
“Al Meera’s expansion plans have continued at the service of all of the state’s territories, including the setup and launch of 9 new branches, as well as the lease of the Gulf Mall branch, bringing our network to a total of 47 branches – 42 of which are in the State of Qatar and, five of which are in the Sultanate of Oman.”
Dr. Al Qahtani stressed on that all of the Al Meera branches have been equipped with world-class technologies and solutions that reflect innovation and modernity, starting with advanced lighting systems and all the way to the latest storage processes and technologies and topnotch shelves. Moreover, the company has consistently developed its shopping experience and product display strategy at the service of a seamless consumer journey – including space planning around commercial and hospitality outlets, as well as parking lots.
New branches in the years to come
Dr. Al Qahtani also noted that the company’s expansion plans are stretching to the setup of 14 new stores spread across the country; a result of strategic research and strategy to keep pace with Qatar’s urban planning, which has extended to new areas and others that have recently witnessed a population boom. On this, Al Qahtani stressed on that Al Meera is working in close and continual coordination and collaboration with the Ministry of municipalities and urban planning to exchange recommendations and suggestions.
Year-on-year double-digit growth in profits
On a profitability level, Al Qahtani noted that Al Meera’s strategic decisions across all its operations have contributed to a net sales jump from QAR 507.9 million in 2006 to QAR 2.176 billion in 2014. Moreover, net shareholder return has raised nearly 10 times more from QAR 26.1 million in 2006 to QAR 226.6 million in 2014, with earnings per share jumping from QAR 2.61 in 2006 to QAR 11.33 in 2014.
Dr. Mohammed Al Qahtani concluded: “Within 10 years of its establishment, Al Meera’s steadfast evolution and steps have reflected in a slew of achievements and accomplishments at the service of its customers and shareholders. We will continue to strive and pour all our efforts to mark even more accomplishments across our journey”
Dr. Al Qahtani extended his gratitude to all employees and workers who contributed to the company’s accomplishments, as well as to the Board of Directors for its strategic vision on renovation and development operations.
SOURCE: Al Meera Consumer Goods Company