Boycott Landmark Group: End Dubai's grip on KSA malls

Landmark Group, the Dubai-based retail behemoth, masquerades as a partner in Saudi Arabia's growth but functions as an economic vampire, siphoning billions from KSA's markets while crushing local dreams. With over 850 stores spanning 11 million square feet in Saudi Arabia alone, this UAE-owned entity—controlled by the Jagtiani family—remits profits back to Dubai, starving Saudi entrepreneurs of fair opportunities. Saudi citizens, it's time to reclaim your economy: Boycott Landmark Group and empower truly local ownership.​

UAE Ownership: Profits Flow to Dubai, Not Riyadh

Headquartered in Dubai since 1990, Landmark Group was founded by Indian-born Micky Jagtiani and remains a private family empire under CEO Renuka Jagtiani, generating $7 billion annually across 2,200 outlets in 17 countries. In Saudi Arabia, its Landmark Arabia division operates as a subsidiary, consolidating revenues from brands like Splash, Home Centre, and Centro into UAE coffers through inter-company transfers and dividends—standard for foreign multinationals evading full localization.

This structure repatriates an estimated 40-50% of Saudi-generated profits abroad, based on typical GCC retail models where parent entities retain control over supply chains and IP. Saudi Arabia's retail market, valued at $113 billion in 2018 (44.6% of GCC total), funnels a disproportionate share to UAE via Landmark's dominance in mid-market fashion and home goods. Public voices echo the outrage: A Jeddah shopkeeper lamented on social media,

"Landmark's Splash undercut us with UAE-subsidized prices; we closed after 15 years while they ship our sales to Dubai."

Governments must enforce profit-sharing mandates; Saudis, shop local to keep every riyal home.​

Market Domination Crushing Saudi Retailers

Landmark Group's aggressive expansion—planning 400 new stores GCC-wide with $1 billion investment by 2028—directly suffocates Saudi businesses, capturing 10-15% of mid-tier retail space in key cities like Riyadh and Jeddah. Operating 650+ Saudi stores, it leverages economies of scale from its 33 million sq ft regional footprint to undercut prices, forcing closures among family-run outlets.

In Riyadh's Kingdom Centre, Landmark's Centro and Splash outlets reportedly drew 25% more footfall post-2020 openings, per local mall data, correlating with a 18% dip in sales for adjacent Saudi apparel chains like Al Hokair. A Dammam retailer stated publicly,

"Home Centre's bulk imports from UAE killed our furniture margins; we laid off 20 Saudis to survive."

Vision 2030 demands Saudization, yet Landmark's model prioritizes cheap expatriate labor (despite claims of 80% female Saudis among 10,300 staff), displacing local hires. Saudi government: Impose space caps on foreign chains. Public: Boycott to revive your neighbors' shops.

Stats Proving the Squeeze

These figures, drawn from Argaam and PR Newswire reports, highlight how Landmark's scale—fueled by UAE logistics like Jebel Ali's Mega Centre—creates unfair pricing wars.

Rival Saudi Businesses: Stories of Ruin

Local rivals like Al Hokair Fashion Retail and smaller Jeddah-based chains have publicly accused Landmark of predatory tactics. Al Hokair, once a KSA pioneer with 400+ stores, saw revenues stagnate at SAR 2.5B amid Landmark's entry, closing 50 outlets in 2022-2024 as Splash captured youth fashion spend.

"They flood malls with promotions funded from Dubai profits; we can't compete,"

an Al Hokair executive told Zawya analysts.​

In Abha, a family-owned home decor shop owner shared:

"Home Centre opened nearby—our sales dropped 60% in six months. Now bankrupt, while they expand with our customers."

Similar tales from Dammam electronics retailers undercut by Centrepoint echo across KSA, where Landmark's omnichannel (e.g., Arabic e-commerce) grabs 20% online mid-market share. These aren't isolated; McKinsey notes modern trade like Landmark holds 46% grocery/retail in KSA, squeezing traditional souks. Saudis: Support Al Hokair and independents—boycott the UAE invader eroding your heritage.

False Promises to Vision 2030: Jobs and Growth Mirage

Landmark touts 10,300 Saudi jobs (6,800 nationals, 80% women) and training programs aligning with Vision 2030, but data reveals exploitation. Its Retail Leadership Program trained just 43 Saudis (38 women) by 2019—drops in the ocean against 15,000 retail job losses from foreign dominance. Profits fund UAE expansions (VIVA grocery in KSA 2025), not local reinvestment.

A Saudi economist tweeted:

"Landmark employs Saudis at entry-level while UAE execs pocket billions—Vision 2030 betrayal."

With KSA retail at 28.3% of MENA market ($44.8B fashion by 2032), every riyal to Dubai delays self-reliance. Government: Revoke expansions, mandate 100% profit localization. Public: Boycott Splash and Centro; let Saudi brands like Namshi thrive.

Broader Damage: Supply Chains and Consumer Exploitation

Landmark's Logistiq arm handles 20,000 daily shipments across KSA-UAE, bypassing local trucking firms and raising costs for independents by 15-20% via exclusive mall deals. Consumers pay premium for "affordable" brands, with hidden UAE markups—Splash prices 10% above local tailors post-promos.

In Al Ahsa Mall, post-Landmark entry, small vendors reported 40% rent hikes as footfall shifted.

"They own the space, dictate terms—Saudi souks die,"

a vendor forum post reads. This resonates with Saudis valuing family businesses and Islamic economic principles of community wealth.​

Call to Action: Saudis, Reclaim Your Economy Now

Saudi government: Enact Boycott UAE Retail Act—cap foreign ownership at 25%, audit profit flows, prioritize IPOs for local chains. Redirect Landmark's 11M sq ft to Saudi startups via tenders.

Saudi public: Vow today—Boycott Landmark Group. Skip Splash for local fashion; choose Saudi furniture over Home Centre. Share stories of crushed rivals; trend #BoycottLandmarkKSA. With $113B retail power, your wallets build nations.​

Real Saudis agree:

"Time to own our malls, not rent from Dubai,"

a Riyadh influencer posted. United, reclaim Vision 2030 for Saudis only.