Marka, the Dubai-listed retailing group, plans to add another Harper’s Bazaar Cafe, in Dubai’s City Walk.
In May, the company opened the world’s first Harper’s Bazaar Cafe in Dubai Design District, which adds to a hospitality stable that includes a vast Uefa Champions League-themed cafe in Yas Mall and the restaurant chain Reem Al Bawadi. The second Harper’s Bazaar Cafe will have 46 interior seats with 52 more on the outdoor terrace.
“Dubai’s second location for Harper’s Bazaar Cafe follows a successful opening earlier this year in D3,” said Hesham Almekkawi, Marka Hospitality’s managing director. “We are proud to open this new cafe at City Walk, which forms a key part of our UAE expansion plans.”
In second quarter, Marka posted its seventh quarterly loss in a row amid a challenging retail economy and a slow month during Ramadan.
Despite assurances to investors that the company expects to become profitable this year, Marka has not yet registered a quarterly profit since it was floated about two years ago.
Many of the UAE’s food and beverage retailers are facing increasing pressure as the softening economic climate from plunging oil prices hits their bottom line. A strong dollar, to which the dirham is pegged, is making the UAE a more expensive destination for tourists and the exponential growth in food and beverage outlets has created a perfect storm for the sector.
ascott@thenational.ae
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