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• Case | HBS Case Collection | October 2019 (Revised August 2020)

  Souqalmal: The Choice Is Yours (A)

  V.G. Narayanan and Alpana Thapar

  This case describes how Ambareen Musa, Founder and CEO of Souqalmal, a Dubai-based online comparison aggregator of banking and insurance products launched her business in 2011 and rapidly grew it over next couple of years. However, by 2017, the Mauritian entrepreneur observed the emergence of other aggregators in the market and wanted to be ready for the price war that could ensue. To date, Musa had grown Souqalmal’s business by focusing on driving positive unit economics and had refrained from entering a price war. However, she wondered whether she now needed to switch gears and focus on defending her market share by counter discounting. Souqalmal had almost run through the $1.5 million it had raised in seed and series A fundraising from U.K.-based Hummingbird Ventures and angel investors, and was seeking to raise $10 million in a series B round later in the year to fuel geographic growth and team expansion. Musa imminently needed to prepare a forecast for prospective investors, which would be dependent on the retaliation strategy she chose. What should Musa do?

  Keywords: unit economics; Finance; Accounting; Competitive Strategy; Financial Statements; Insurance Industry; Middle East;

  Citation:

  Narayanan, V.G., and Alpana Thapar. "Souqalmal: The Choice Is Yours (A)." Harvard Business School Case 120-028, October 2019. (Revised August 2020.)  View Details

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• Supplement | HBS Case Collection | August 2020

  Souqalmal: The Choice Is Yours (B)

  V.G. Narayanan and Alpana Thapar

  Keywords: Accounting; Insurance Industry; Middle East;

  Citation:

  Narayanan, V.G., and Alpana Thapar. "Souqalmal: The Choice Is Yours (B)." Harvard Business School Supplement 121-023, August 2020.  View Details

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• Case | HBS Case Collection | June 2020 (Revised August 2020)

  Majid Al Futtaim Retail Geographic Expansion: Brick or Click?

  Juan Alcácer and Alpana Thapar

  This case illustrates the challenges that retailers face when they aggressively pursue geographical growth by expanding both their physical store network and their online presence. It features Majid Al Futtaim (MAF) Retail, a franchisee of Carrefour hypermarkets in the Middle East, Africa, and Asia, a company that strived to strike the right balance of offline and online for each of the markets it served. MAF Retail had a strong presence in the Middle East, particularly in its home market, the United Arab Emirates, and it had been building its presence in Egypt, Pakistan, Kenya, Georgia, and most recently in Uganda. There were also opportunities to open hundreds more stores in each of these markets and expand into 15 other countries in Asia and Africa where it had a license. But the retail environment was changing across the globe, owing to a shift in consumer behaviors that accompanied the rise of the online-only players. CEO Hani Weiss had been driving a digital transformation within the company, building the necessary technology and online capabilities to provide a seamless experience to its customers. The company also partnered with online-only players to increase its reach to customers in countries where MAF Retail had a presence and to provide an online offer to customers where it had no online store. Going forward, Weiss faced hard choices in deciding which markets to prioritize. He also had to determine the right balance of offline and online for each market. Should he invest his resources in opening new stores, or in building online capabilities—or both? How would his strategy differ in the key markets?

  Keywords: stores; ecommerce; digital transformation; Strategy; Expansion; Geographic Location; Decision Making; Online Technology; Retail Industry; Middle East;

  Citation:

  Alcácer, Juan, and Alpana Thapar. "Majid Al Futtaim Retail Geographic Expansion: Brick or Click?" Harvard Business School Case 720-482, June 2020. (Revised August 2020.)  View Details

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