30/03/2016 15:57 AST

Marka, a major retail operator in the UAE, today announced its partnership with e-commerce leader Souq.com in a move that will see the company offer sportswear and eventually fashion items online.

Marka has started offering a variety of sports brands online from today (March 29), a statement said.

Nick Peel, Marka’s CEO, said: “This is our first home-grown e-commerce venture, and our expansion into the realm of web retailing is a landmark occasion for Marka. Our short-term objective is to showcase our sports retail offerings on the internet to younger and more web-savvy customers in Saudi Arabia in particular and across the GCC region as a whole.”

“Saudi Arabia is an important retail market for us, both commercially and strategically,” added Peel. “We are confident that the next generation of consumers there will shop online for sportswear and other items at Souq.com. The first phase of our strategy with Souq.com shall concentrate initially on our sports retail brands and the second stage thereafter will focus more on our fashion labels.”

Today’s announcement follows Marka’s recent announcement to open nine new outlets of the Cheeky Monkeys Playland & Sweet Surprises franchise, which is the region’s leading ‘edutainment’ destination for children under six years of age, in Saudi Arabia – a key part of the company’s regional expansion plans beyond their operations here in the UAE.

The Souq.com website sells apparel for a wide variety of sports, including basketball, boxing, cricket, cycling, football, swimming and tennis and other racquet sports.


Trade Arabia

Marka sees revenues slashed by Dh200m

15/02/2018

Marka continued its dismal run of results on Wednesday, with revenues for 2017 plummeting by nearly 68 per cent, and net losses increasing by 44 per cent.

The Dubai Financial Market-listed

Gulf News

Marka stems painful flow of losses with aggressive cost-cutting

15/11/2017

Marka released its third quarter financial results on Tuesday, reporting a net loss of Dh22 million, an improvement of sorts given the company’s losses of Dh126 million in the second quarter of 2017.

Gulfnews

Marka to remain operational despite losses since inception

12/10/2017

Marka, the retailer which started restructuring its business earlier this year, after failing to turn a profit since its 2014 listing in Dubai, plans to sell under-performing assets, restructure its

The National

Ticker Price Volume
SABIC 114.77 5,915,941
MARKA Sector Market
P/E
Price/BookValue
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
DXBE 0.45 -0.02 (-3.20%)
DRC 12.80 0.00 (0.00%)
UNIKAI 9.03 0.00 (0.00%)
UFC 5.15 0.00 (0.00%)
ERC 2.97 0.00 (0.00%)
SABIC-MCC joint venture starts output

05/04/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula

Doha Bank’s third Indian branch opens today

04/04/2018

Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o

The Peninsula

SHUAA to act as liquidity provider to Bank of Sharjah

04/04/2018

Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than

Gulf News