Found in: Companies of Kuwait
Alghanim Industries is one of the largest privately-owned companies in the Gulf region, predominantly in Kuwait. A multinational company in outlook with operations in 40 countries, Alghanim Industries is a multi-billion dollar conglomerate with more than 30 businesses.
The firm has established strongholds in the Middle East, India and Turkey, dealing with over 300 global brands and agencies, and is a market leader or significant player in almost every major business in each major region it operates in. Right now, however, Harvard-educated Alghanim has his eyes set firmly on expansion into the East.
As of 2007, the establishment employs over twelve-thousand people from 45 countries.Alghanim Industries has a nearly 100-year heritage as a successful commercial enterprise in the Gulf region, with a proven track record of reacting to economic and market changes. As a result, this diversified multinational corporation has built a reputation synonymous with market leadership..
The Alghanim family was among the original families to populate what would become Kuwait, and has a long history as commercial merchants in the region.
In 1932, Yusuf Ahmed Alghanim returned to Kuwait from his studies abroad and took over his father's business which he built into a successful company.By the end of the 1930s, he had established the reputation of Alghanim throughout the Middle East and was employing a labour force of more than 4000 people.Under the guidance of Yusuf, the organisation grew and diversified over the next 40 years which further entrenched the Alghanim name across the Middle East.
One of the key steps in this expansion was an association with General Motors (GM) to introduce American-made vehicles in Kuwait - the genesis of what is today one of the largest GM agencies in the world. During this period, the group became known as Yusuf Ahmed Alghanim & Sons.
From the early 1970s, Yusuf's sons, Kutayba and Bassam, led the organisation and installed a western-style management structure and decentralised decision-making processes.They positioned the company as a diversified multinational corporation, well-placed for continued success locally and abroad.In the late 70s and the early 80s, the holding company became known as Alghanim Industries with several business units and brands operating under its umbrella.Some of the leading brands that Alghanim associated with include Hitachi, British Airways, Philips, Kirby Building Systems, and Frigidaire.
Throughout the 1990s and following the second Gulf War in 2003, Alghanim Industries remained true to the entrepreneurial spirit instilled by Yusuf Alghanim.During this period the company formed marketing collaborations and strategic alliances with corporate giants such as Xerox, Whirlpool, Haier, Lofra and American Express.It also continued to open markets within the GCC and expand operations globally.
Yusuf's grandson,Omar Kutayba Alghanim, joined the management ranks of the company in 2002. Omar Alghanim is the strategic architect of Alghanim's international growth strategy and continued drive to operational excellence. Prior to joining Alghanim Industries, Mr. Alghanim worked as a financial analyst with Morgan Stanley in London, focusing on corporate finance, mergers & acquisitions in the Middle East. He received his MBA from Harvard and his undergraduate degree from the Stern School of Business..
Alghanim Industries has in the past had a negative image as an employer in Kuwait, with high levels of turnover among its employees. The management has made an effort to change this in recent years.
Alghanim Industries holds the agencies for Acer, Yamaha, Sony Ericsson, Samsonite, Samsung, Siemens, Nokia, Motorola, Kenwood, Fujitsu, IBM, Dell, Casio, Cannon, Daewoo, Electrolux, Compaq, Minolta, Philips, Toshiba,Whirlpool and Xerox (among others).Brands include Safat Alghanim, Alamana, Yusuf Alghanim Automotives, Wansa, X-cite by Alghanim Electronics, Bumper -to- Bumper, -Cruzer-, -Kirby-,Kimmco, Alghanim Freight, Impact & Echo, Alghanim Travel. An Al-Ghanim Industries affiliate, the Gulf Trading and Refrigerating Company represents Mars, Kraft Foods and Colgate Palmolive. Outside of family business, Bassem Alghanim is chairman and managing director of the Kuwait based Gulf Bank of Kuwait, in which Alghanim Industries holds a stake.
Bassem Alghanim and Kutayba Alghanim ranks 412 in the prestigious Forbes billionaire list with a net worth of $2.8 billion.. .
Gulf Bank of Kuwait