BabMakkah Full Name:Ahmad Bin Mahfoud Message:BabMakkah Retail Concept Objectives:1. Venture Name: Bab Makkah – (Award winning business concept)
2. Industry Sector: Gifting – Retail
3. Business Stage: Company formed
4. Headquarter Location: KSA, Makkah province, Jeddah
5. The concept and the problem it solves: Bab Makkah is a specialized retail concept of stores to gather authentic products that meets the international standards, made locally and inspired from the Islamic value Makkah & Madina. Also, facilitating state of art technology to enhance the shopping experience, and keeping in touch with one-time visitors.
6. the limits of the current practice: The Saudi Ministry of Labor has issued a law to localize 70% of 12 industries including retail outlets and stores surrounding the Holy sites in Makkah & Madina. This means that the opportunity to employ and work with local talent is at an all-time high. Moreover, 95% of the market around the central area in Makkah & Madina is under unorganized retailers, that sell low quality imported products and Bab Makkah aims to introduce a high quality, locally made products to this market and to the targeted audience, who's looking for an authentic product that made in the holy cities.
7. Our approach: Our main competitive advantage is the premium locations that has the high traffic of pilgrims and visitors n around Makkah and Madina. Also, our collaborations with third party to help improve the current local industries, as well as facilitating state of art technology to help suppliers improve their outcomes.
8. Our milestones:
Before project start
? Initial agreement with more than 50 suppliers with over 1000 SKUs
? Launch the e-commerce platform
After project start
? Number of selling points opened (5 stores first year)
? Number of created jobs (50 direct & 300 indirect, first year)
? Sale & profit growth rate
? Number of local brands who access the stores
9. perspective clients and customers:
Prospective customers, Pilgrims who are looking for authentic, high quality and well branded products, that is inspired from the holiness of both Makkah and Madinah
Prospective suppliers, Saudi brands, that produced locally and meet the criteria of quality and Saudization
10. potential economic development: Bab Makkah will contribute in achieving three economic goals that are part of Vision 2030, which are creating direct and indirect jobs, increasing non-oil industrial sectors, and increasing local content.
11. Person of Contact *
Ahmed bin Mahfoud, +966 544470702
Afzal Hussian, +966 545226622