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Fawaz Alhokair Group - Essay Example
Pages 5 (1255 words)
Company Analysis for Fawaz Alhokair Group Overview Fawaz Alkohair Group is one of the leading retail companies in Saudi Arabia. It was established by three brothers as partners in 1989 as retail operators of two menswear stores. From this humble beginning, the company now owns 60% market share of the fashion sector in Saudi…
Currently, it has 10,000 employees working in Saudi and abroad. Company has experienced significant increases in gross profit, a corresponding net profit increase, and in operating income for the fiscal period ending March 2013, as shown in Table 1 below Table 1. Income increases, Fiscal Year 2013* Comparative increases in income Item 2012 2013 % increase Net profit SR447.38M SR619.69M 38% Gross profit SR789.98M SR1,130.37M 43% Operating Income SR439.28M SR583.93 32.9% *12 months period Company considers these increases are due to their business strategies of new stores opening, introduction of new concepts and brands, international expansion and acquisition of the Nesk Trading Projects, LLC. Sales totaling SR1.899bn in 2009 increased by 2%; Revenue in KSA market increased by 34.6% in 2013, while international market revenue increased by 186% in 2013. For 2014, sales is expected to reach SR2,925bn. Management believes it is able to draw and keep competent workforce because of its corporate culture, and these trained employees are experienced in adapting to swift fashion transformation of the retail market in the Kingdom. Out of its 10,000 employees, 33% are Saudis. The company represents famous international brand products and is acknowledged as a leader in fashion retail businesses in Saudi Arabia. ...
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