The director of the Ministry of Economy, Trade and Industry of Japan’s Manufacturing Industries Bureau — Automobile Division and the director of Saudi Japanese Automobile High Institute (SJAHI) signed an MoU at the Saudi-Japan Vision Business Forum in Tokyo, on Oct. 23.
The business forum took place under the banner of Saudi Arabian General Investment Authority (SAGIA), Japan External Trade Organization (JETRO) and Japan Cooperation Center for the Middle East (JCCME). The forum aimed to explore business opportunities for Japanese technology companies to enable them to contribute to the Saudi private and public sectors and to introduce Saudi Arabia (under the Invest Saudi brand) as an attractive investment destination, especially in areas of tourism, hospitality and entertainment.
MoU to support SJAHI signed at Saudi-Japan forum
MoU to support SJAHI signed at Saudi-Japan forum
LuLu marks 15 years with ‘Super Fest 2024’
LuLu Hypermarket Saudi Arabia is celebrating its 15th anniversary with the launch of Super Fest 2024, the biggest shopping event of the year. Running from Nov. 27 to Dec. 10, the festival celebrates LuLu’s journey of success and commitment to excellence. Customers can look forward to unbeatable deals and exciting prizes, making this a shopping experience like no other.
The festival features massive discounts across all sections, including supermarkets, fashion, electronics, mobile phones, and home appliances. With savings totaling SR25 million ($6.6 million), shoppers have an opportunity to enjoy exceptional value throughout the celebration period.
Adding to the excitement, Super Fest 2024 offers shoppers the chance to win 1,500 gifts and prizes worth up to SR1 million.
Ahead of the fest launch, an exclusive event was held at voco Riyadh. Attended by key suppliers, influencers, and media representatives, the event highlighted LuLu’s achievements over the past 15 years. Special anniversary products and exclusive fest offers were unveiled, setting the stage for the celebrations.
During the event, LuLu honored its key suppliers with tokens of appreciation, recognizing their critical role in the company’s success. This gesture reinforced LuLu’s commitment to building strong partnerships with its strategic retail collaborators.
Shehim Mohammed, director of LuLu Hypermarkets Saudi Arabia, said: “Today, as we celebrate the 15th anniversary of LuLu’s establishment in Saudi Arabia, we take pride in a journey full of achievements and partnerships with our community and loyal customers. This occasion is not just a milestone, but a testament to your trust and ongoing support, which motivates us to continue offering the best. We invite you to share these special moments with us and enjoy the largest deals and prizes we have specially prepared for you. Together, we continue the journey of success.”
“Over the years, LuLu has been one of the leading players in the retail sector, and we look forward to continuing to provide an exceptional shopping experience that meets and exceeds our customers’ expectations. This fest is part of our ongoing commitment to strengthening our relationship with customers and offering them the best in the world of offers and shopping. We wish everyone a fantastic shopping experience,” he added.
Over the past 15 years, LuLu Saudi Arabia has established itself as a leader in the retail industry. Known for offering high-quality products at competitive prices, LuLu has built a strong network of stores across the Kingdom. The company’s focus on innovation and excellence has made it a trusted name in the retail sector.
Recently, LuLu began trading on ADX on Nov. 14 following its record-breaking IPO. The most significant aspect was the heavy pull in of first-time investors, all of whom made up 82,000+ retail investors, one of the highest recorded for a UAE IPO. The stock offering raised $1.72 billion, with aggregate demand at $37 billion for an oversubscription by 25 times. Trading began with a share price of 2.04 dirhams ($0.56) per share, showing positive trade.
UAE nationals picked up many of the LuLu shares, and foreign investors hold just over 77 percent of the stock, which is among the higher percentages of ADX-listed entities. Cornerstone investors included leading sovereign and institutional investors from across the GCC. Key investors in the LuLu IPO include Abu Dhabi Pension Fund, Emirates International Investment Company, Bahrain Mumtalakat Holdings, Oman Investment Authority, Kuwait Investment Authority, Qatar Investment Authority, Saudi PIF, Hassana Pension Fund, and the Singapore Sovereign Wealth Fund, among others.
Mastercard announces winners of mentorship program
Mastercard partnered with Saudia and Blossom Accelerator for the third season of its “Her Voice” mentorship program, empowering female entrepreneurs to attain lasting success.
The entities hosted three workshops across Jeddah, Riyadh, and Alkhobar, with more than 100 participants across all the cities. Each workshop enabled the opportunity to foster connections among women from across the Kingdom, offering participants access to all-important learning and networking. A competition held at each workshop also provided the opportunity for one winner from each city to be granted the mentorship program.
Reima Sras, founder of Buthoor Tech; Munirah Alkadi, founder of Mawsim; and Sarah Albaiz, founder of Qantara Studio; were selected as the competition’s three winners, each being enrolled in the innovative “Her Voice” program facilitated by Blossom Accelerator.
Each participant was evaluated based on leadership, product viability in the market, business model strength, and other key criteria.
“As more Saudi women take the reins of leadership and drive the future of the Kingdom’s SME space, we must work to ensure that we continue pioneering innovative programs that bridge the entrepreneurship gender gap,” said Maria Medvedeva, country manager, Saudi Arabia, Mastercard. “At Mastercard, we believe collaboration is crucial to launching the effective platforms required to accomplish this goal, and we are pleased to have partnered with Saudia and Blossom Accelerator to empower even more women for Season 3 of ‘Her Voice.’ We look forward to seeing our mentees grow, flourish and thrive, realizing their considerable potential and serving as champions of Saudi female excellence.”
Essam Akhonbay, vice president of marketing at Saudia, said: “As Saudi Arabia’s national flag carrier, we are deeply invested in the nation’s future and believe women are central to its success.”
Through ‘Her Voice,’ we empower female entrepreneurs to thrive, inspiring future generations and creating pathways for small businesses to prosper. By showcasing their remarkable stories on our in-flight entertainment system, we not only highlight their achievements but also reinforce Saudia’s commitment to promoting local content that fuels economic growth and social progress.”
“At Blossom Accelerator, we are proud to be a global leader in driving inclusive innovation, recognizing that diverse perspectives are key to unlocking economic potential and maximizing investment returns. Our mission is to empower female-led startups across the globe, equipping them with the essential tools and resources to excel in the competitive digital economy,” said Emon Shakoor, CEO and founder.
This season focused on connecting people to their passions, with each episode exploring a different passion point, namely: gaming, tech, sustainability, culinary, and sport. Over the course of each interview, guests recounted their personal and professional journeys in their own voices in conversation with the host, renowned Saudi actress and broadcaster Danyah Shafei.
stc on global expansion spree with development of data centers and submarine cables
Leading digital enabler stc Group is continuing to implement its expansion plans to develop data centers and submarine cables, strengthening the Kingdom’s position as a digital hub in the Middle East. Two strategic projects have catapulted this effort: stc Group’s subsidiaries stc Bahrain and center3 have built a state-of-the-art Data Center Park in Bahrain, as part of one of the world’s largest submarine cable systems connecting Europe, the Middle East, and Africa. This project, known as “Africa 2 Pearls,” will extend over 45,000 kilometers, totaling $300 million in investment.
These projects complement the group’s investments through its subsidiary — center3 — a leading provider of international data centers and communications services via submarine cables. center3 now operates 25 data centers and has expanded its submarine cable network to include 16 cables connecting three continents. The network includes the “Saudi Vision Cable,” wholly owned by stc via center3 and equipped with three landing stations that ensure continuous and reliable data transfer services. This represents a fundamental pillar in the group’s long-term strategy.
The “Africa 2 Pearls” cable is an important achievement in this context, as it connects 33 countries in Asia, Africa and Europe, which supports stc Group’s vision for global expansion, data flow and communications, and enhances its position as a major driver of digital transformation across various sectors at the international level.
The Chefz brings Saudi flavor to the world with their TikTok strategy
Saudi Arabia’s digital landscape has rapidly evolved to fully embrace social media, with TikTok usage growing steadily in the country.
In response, businesses across the Kingdom are increasingly recognizing the platform’s significance.
What uniquely sets TikTok apart in Saudi Arabia is its sense of community, a value deeply embedded within the connected society.
This collective spirit fuels a dynamic for shared experiences on the platform.
One example of this approach is The Chefz, a leading delivery app in Saudi Arabia that’s using digital marketing to promote Saudi culinary culture globally.
By integrating local flavors, presentation styles, and cultural values into their campaigns, The Chefz has developed an authentic brand voice that resonates with the Saudi audience.
As a Saudi local business, The Chefz prioritizes content that reflects the nation’s rich cultural heritage.
Through culturally attuned campaigns that align with Saudi values, they foster a strong emotional bond with their customers.
By showcasing regional flavors and foods, The Chefz effectively builds a community grounded in culinary heritage.
This creates a sense of belonging among users who identify with the traditions celebrated in their content, promoting their brand’s presence on TikTok with authenticity.
The Chefz seamlessly merges traditional Saudi elements with modern marketing techniques.
Their strategy includes balancing iconic foods and aesthetics with interactive digital features, ensuring that their content is both relatable and engaging.
They also utilize humor, local music, and storytelling to captivate Saudi customers, highlighting food’s central role in the culture.
Additionally, they aim to establish a globally appealing local identity. By incorporating international sounds and trends, The Chefz makes their content accessible and intriguing to tourists who may need delivery services during their stay in Saudi Arabia.
A key element of The Chefz’s strategy is adapting campaigns to align with special occasions and traditions.
During important periods like Ramadan and Eid, demand peaks, as well as in the winter season when reservation requests surge.
During these times, The Chefz maximizes demand by emphasizing timely promotions, such as suhoor deals, and highlighting seasonal offers and traditional dishes.
This approach reinforces their connection with cultural values and ensures that each campaign resonates with the unique significance of each occasion.
The Chefz’s strategy emphasizes data-driven marketing with a cultural focus.
Their decisions are grounded in a deep understanding of customer behavior, especially around Saudi culture.
By leveraging TikTok’s visual tools, trending sounds, and features like Spark Ads, The Chefz combines cultural relevance with modern engagement strategies, creating an authentic and immersive experience that boosts both interaction and sales.
Their commitment to cultural authenticity and strategic use of TikTok has fueled their rapid growth, with a 150% sales increase between 2021 and 2022.
Now serving 5 million customers and boasting 2 million active users, part of what makes The Chefz’s so successful is their strong TikTok presence, amassing over 187k followers and 3.3 million likes on the platform.
By blending innovation with cultural authenticity, The Chefz has built a loyal community that continues to expand.
Their approach has positioned them well to further deepen connections with both local and international audiences in the future.
Budget Saudi bags four prestigious awards
Budget Saudi, the Kingdom’s leading car rental company, has been commended for its commitment to delivering world-class transportation and logistics services.
It bagged four honors at the 2024 World Business Outlook – Endorsing Excellence Awards, spotlighting the company’s ongoing efforts to transform the Saudi transportation sector.
Budget Saudi received the award for “Best Customer Experience Services in Transportation and Logistics in Saudi Arabia.”
Three members of the company’s leadership team were also recognized with individual leadership awards.
The honor highlights Budget Saudi’s ongoing work to curate memorable journeys and experiences for its customers and consumers around the Kingdom.
Leveraging a state-of-the-art fleet of over 38,000 vehicles and an extensive network of close to 100 retail stations across 30 cities, Budget Saudi is firmly established as the largest rental and leasing network in the Middle East and North Africa.
Held on Nov. 2 at Marriott Marquis, Queen’s Park in Bangkok, the ceremony brought industry leaders from around the world together to celebrate the outstanding achievements of exceptional leaders across a diversity of markets and sectors.
The gathering also shone a light on the accomplishments of Budget Saudi leadership team.
Fawaz Danish, president and Group CEO, received the “Excellence in Transformational Business Leadership in Saudi Arabia” award.
Dr. Mohammed Ravish Tatli, Group CFO, was named the “Best CFO in Merger & Acquisition in Saudi Arabia.”
Anil Mathew Abraham, VP Operations, Sales & Marketing, was commended as the “Most Efficient Marcom Leader in Saudi Arabia.”
Fawaz Abdullah Danish, president & Group CEO, Budget Saudi, said: “With our history in Saudi Arabia tracing back nearly five decades — being the first publicly traded car rental company in the Kingdom — we are as deeply rooted in the country as we are deeply committed to empowering the people, communities and businesses we serve with world-class services.
“We are so pleased to have been recognized by the World Business Outlook – Endorsing Excellence Awards. Not ones to rest on our laurels, we look forward to raising our standards even more and contributing to the development of the Saudi transportation industry. We are honored, thankful and inspired to do even better — today, tomorrow and in the years to come.”
Budget Saudi said its success at the awards builds on the company’s recent acquisition of Auto World — one of the major car leasing companies in Saudi Arabia.
Budget Saudi said that it “underlines the company’s commitment and leadership team’s drive and vision to achieve unprecedented growth, creating a legacy of innovation in the transportation industry.”
To learn more about Budget Saudi and its sustainability initiatives, visit: https://www.budgetsaudi.com
