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Growing internationally with GMG

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Global wellness brand, GMG, expands internationally with support from HSBC

GMG started out as a small butchery supplying fresh meat, fish, and cold cuts from western markets in 1977 in the UAE, and now distributes a whole host of international brands globally. The family-owned business underwent rapid expansion since then and today, GMG retails, distributes, and manufactures a portfolio of leading international and home-grown brands across sport, food, and health sectors.

Within its sports vertical, GMG opened its first Sun and Sand Sports (SSS) store in 1979 and now has over 400 stores across the Middle East and Asia, distributing sports merchandise from highly sought-after international brands like Nike, Columbia and Timberland amongst others.

GMG taps into $1.5trn1 global wellness market with HSBC

Marking its first entry into the Asian market, the successful UAE-based conglomerate expanded into Asia in December 2020 through its acquisition of Singapore-based sports retailer, Royal Sporting House (RSH). To help GMG tap into the global wellness market – valued at $1.5trn by McKinsey & Co – through international expansion, HSBC provided acquisition finance, cash management and foreign exchange support. This assistance allowed the Emirati retail giant to establish a presence in wider Asian markets such as Singapore, Hong Kong, Malaysia and Indonesia.

Mohammad A. Baker

Our ambition is to operate in every major market globally. HSBC has remained an indispensable partner in facilitating our acquisition-led strategy globally.

Mohammad A. Baker | Deputy Chairman and CEO, GMG

GMG’s rigorous acquisition-led growth expansion plan, backed by a longstanding relationship with HSBC as its international banking partner, has empowered the company to continue growing internationally.

Mohammad A. Baker, Deputy Chairman and CEO, GMG, said: “Our ambition is to operate in every major market globally. HSBC has remained an indispensable partner in facilitating our acquisition-led strategy globally. The bank’s international footprint and on the ground support across our target markets has been invaluable for us.”

 

Patricia Gomes

GMG is an excellent example of an Emirati business with the ambition to flourish overseas, and as HSBC is keen to help visionary home-grown enterprises to scale internationally, we’re delighted to support GMG as it taps into the Asian market.

Patricia Gomes | Regional Head of Commercial Banking, MENAT, HSBC

GMG has grown significantly since it opened its first butchery store in 1977 and now has a presence in 12 countries, carrying over 120 global brands.

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