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- Keeta Expands in 11 More Saudi Cities; WeRide Gets KSA AV Permit; Middle East Drives Global Luxury
Keeta Expands in 11 More Saudi Cities; WeRide Gets KSA AV Permit; Middle East Drives Global Luxury
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Sunday, August 3, 2025
Happy Sunday everyone!
Three big signals from the MENA region today. Keeta, Meituan’s food delivery arm, has expanded to 11 more Saudi cities, boosting its local merchant network and workforce. WeRide has become the first AV company licensed to operate Robotaxis in Saudi Arabia — and now holds permits in six countries. Meanwhile, the latest H1 results from LVMH, Hermès, and L’Oréal confirm what insiders already knew: the Middle East is now the only reliable growth engine for global luxury.
But before that: For quick daily updates, follow us on Instagram, and you can watch our Smashi Business Show live every weekday from 10AM onwards (UAE time). Also, you can join our Whatsapp channel to receive updates from the business world.
Keeta Expands to 11 More Cities in Saudi Arabia, Strengthening Nationwide Footprint
🔹 What Is It About
Keeta, the international arm of Chinese tech giant Meituan, has expanded operations to 11 additional cities in Saudi Arabia, including Abha, Taif, Tabuk, and Yanbu. With this move, the food delivery and services platform now operates in 20 cities across the Kingdom, deepening its commitment to local communities and businesses.
🔹 Why It Matters
The expansion aligns with Vision 2030 goals by supporting Saudi-born brands and SMEs, adding nearly 7,500 new merchant partners and deploying over 18,000 riders. It also brings global convenience to local consumers and creates new job opportunities, reinforcing Keeta’s role in driving digital and economic growth.
🔹 What’s Next
Keeta plans to continue its growth across the Kingdom, with a focus on locally tailored offers, community partnerships, and digital innovation. The company says its people-first strategy and strong local demand will guide its next phase of expansion across Saudi Arabia.
📣 ODEUM Rebrands as Augustus Media’s Modern Content Studio
Big news from within our own network — Augustus Media, the company behind Smashi, Lovin', and now a fully reimagined ODEUM, is setting a new benchmark for creative production in the region.
Introducing ODEUM – The Modern Content Studio — where bold storytelling meets how people consume content today. From short-form vertical videos to high-impact campaigns and immersive podcasts, ODEUM is built for brands that want to break through the noise.
With eight production studios across Dubai, Riyadh, and Cairo, ODEUM offers end-to-end services: cinematic video, dynamic animation, CGI, live events, branded podcasts, and more — all backed by Augustus Media’s digital-first DNA and 3.3 billion+ annual impressions across MENA.
👉 Whether you're building a brand or launching a campaign, ODEUM is where your story becomes content people actually want to watch.
Explore more: https://odeumstudio.com
Markets
EGX 30 | 34,198.00 | Closed |
DFMGI | 6,159.15 | Closed |
ADX | 10,370.66 | Closed |
Tadawul | 10,920.27 | Closed |
WeRide's Robotaxi Secures Autonomous Driving Permit in Saudi Arabia, Marking Global First
🔹 What Is It About
WeRide has received Saudi Arabia’s first autonomous Robotaxi permit, allowing it to operate self-driving taxi services nationwide. The Chinese company becomes the only global player with autonomous driving permits in six countries. The initial pilot, launched in Riyadh with Uber and Ai Driver, is already covering major routes, with a full commercial launch planned by the end of 2025.
🔹 Why It Matters
This approval, granted after rigorous testing under the Saudi Transport General Authority’s Regulatory Sandbox, signals a major step toward Saudi Arabia’s Vision 2030 mobility goals. It also positions the Kingdom as a leader in autonomous transport adoption in the Middle East.
🔹 What’s Next
WeRide aims to expand Robotaxi operations across more Saudi cities, while also testing in Abu Dhabi and preparing a Dubai launch. Its broader product suite—including Robobuses and Robosweepers—will continue deployment across healthcare, tourism, and residential zones in the Kingdom.
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Luxury's New Center of Gravity: Why the Middle East Is the Only Growth Engine That Matters
When the world's top luxury houses—Hermès, LVMH, Kering, and L’Oréal—released their H1 2025 earnings this week, one shift stood out: the Middle East has quietly become the industry's strongest, and only, growth engine.
It wasn’t just strong numbers. It was a structural reclassification. LVMH no longer labels the region an “Emerging Market”—it now calls the Middle East a “Core Market.” That small change signals a big pivot, and it’s backed by numbers that demand attention.
Hermès: A GCC Growth Surge
Hermès saw +20.4% growth in Q2, a figure 71% higher than its global average. Management explained that regional tensions had kept wealthy Gulf residents from shopping in Europe—but they’re still buying, just closer to home. The luxury spend isn’t declining—it’s shifting geographies. And Hermès stores in the GCC are reaping the rewards.
LVMH: Fashion Falls, Beauty Rises—with Help from the Middle East
LVMH’s Fashion & Leather Goods took a global hit (-9%), but beauty brands held firm. Parfums Christian Dior, Guerlain, and Sephora all called out the Middle East as a core growth driver. While global sales faltered, GCC malls and flagship stores remained vibrant.
Kering: Least Bad Is Actually Good
Kering’s results were dismal globally—double-digit drops from Japan to North America—but the Middle East only dipped 5%, despite ongoing regional tensions. That mild decline, attributed by the CFO to "events impacting the region," becomes a signal of resilience when compared to free-falling sales elsewhere.
L’Oréal: Beauty's Bright Spot
L’Oréal posted +10.4% growth in the Middle East, triple its global rate. The company placed the region shoulder-to-shoulder with Latin America as its fastest-growing, with executives predicting the Middle East will play “a much bigger role in beauty” going forward. The GCC is already proving it.
The Data Is Clear: The Middle East Is Luxury’s Lifeline
According to the latest Chalhoub Group Intelligence report, while global luxury contracted -2% in 2024, the GCC grew +6%, hitting a $12.8 billion market.
In Q1 2025, luxury fashion grew +11% and prestige beauty +23% YoY in the region.
Forecasts show a +10% CAGR through 2030, positioning the Middle East not just as a temporary bright spot—but as the future of luxury retail.
Why the Region Is Resilient
Wealth Migration: Since 2020, 176 billionaires relocated globally, bringing over $400 billion in wealth. The UAE tops the list. Dubai alone saw a net inflow of 6,700 millionaires last year.
Young, Style-Savvy Demographic: With over half the population under 30, and no “luxury shame” (unlike trends emerging in China), 76% of GCC consumers turn their trend awareness into actual spending.
Macro Stability: 93% of GCC residents say they’re financially well, and unemployment is below 3%—a stark contrast to EU and US volatility.
The Bottom Line
The global luxury sector is going through its worst contraction since 2020. But one region stands tall: the Middle East is not just surviving, it’s thriving.
👨💻From Smashi Business’ Desk
Dreamers: From selling his car to pay salaries to leading a $10.9B real estate empire—Muhammad BinGhatti’s journey is one of bold vision and resilience.
‘Somewhere’ expands to Bahrain, marking the fourth location for the contemporary fusion restaurant founded by Amal Al Marri and Deem Al Bassam.
Tabby founder, Palestinian entrepreneur Hosam Arab, speaks out on LinkedIn, condemning the starvation crisis in Gaza and calling for an end to the siege.
Smashi Business Exclusive: House of Pops Eyes European Expansion
From inventing Dubai Chocolate to sharing his journey from Burj Al Arab to TEDx, Chef Noel Catiz joined the Lovin Dubai Show to talk desserts, ideas, and his deep love for Kanafa Nabulsi
🔍In other news…
🏦Crypto Corner
Michael Saylor — Executive Chairman of MicroStrategy and one of Bitcoin’s most vocal corporate advocates — will make his first-ever appearance in the UAE at Bitcoin MENA in Abu Dhabi.
Hut 8, part of a American BTC which is partially owned by Donald Trump Jr. and Eric Trump, Gets Approval to Operate in Dubai Financial Hub
Abu Dhabi Judicial Department now accept AE Coin
Follow Smashi Crypto to find out what’s news in the world of digital assets.
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