Union Coop

Union Coop
Company typeConsumers' cooperative
IndustryRetail
Founded1982 (1982)
Headquarters
Dubai
,
United Arab Emirates
Number of locations
27 stores
Key people
ProductsOrganic food, Fruits, Vegetables,
Number of employees
3,819 (as on June 09th 2021)
Websitewww.unioncoop.ae

Union Coop, formerly known as Union Cooperative Society' is an Emirati consumer cooperative located in the emirate of Dubai, UAE. It was founded in the year 1982 by the then Ministry of Labour and Social Affairs, which has now been restructured.[1][2][3]

It is currently the largest Consumer Cooperative in the United Arab Emirates with 27 hypermarket branches and three shopping malls located in the emirate of Dubai.[4][5]

Union Coop’s services include establishing hypermarkets, Malls, Commercial Centers and managing cooperatives within the United Arab Emirates.[6][7]

Union Coop currently has branches located in – Al Warqa, Al Quoz, Al Tayy, Nad Al Sheba, The Pointe – Jumeirah, Abu Hail, International City, Mamzar, and Al Mizhar, Umm Suqeim, Al Barsha, Mirdif, Al Wasl, Al Aweer, Jumeirah, Al Mankhool, Al Twar, Al Hamriya, Al Rashidiya and Al Satwa, Jumeirah 1, Al Barsha South and Hessa Street. Union Coop has 27 branches with recent ones being in motor city, Nad Al Hamar and Al Nahda.[8][9][10]

History

Union Coop was established in the year 1982 with 27 Shareholders and a capital of AED 3.6 Million with an aim to enhance the social and economic condition of its members and serve the local community where it operates.[citation needed]

In the year 1984, Union Coop opened its first branch in AL SATWA, an area in Dubai which is known for its South Asian community.[11][12]

Timelines

  • 1984 – First Union Coop hypermarket opened in Al Satwa area of Dubai.
  • 1984 – Opens hypermarket branch in the residential area of Al Rashidiya within Dubai Municipality’s Central market.
  • 1986 – Opens a new hypermarket branch within Dubai Municipality’s Central market in Al Hamriya.
  • 1988 – Opens hypermarket branch in Al Twar, Dubai on Al Nahda road which connects old city to the new one.
  • 1990 – Opens hypermarket branch in Sheikh Khalifa Street in AL Mankhool, Dubai.
  • 1996 – Opens hypermarket branch in Jumeirah.
  • 2003 – Opens hypermarket branch in AL AWEER, in within the Dubai Central Fruit and Vegetable Market in the Ras Al Khor area.
  • 2008 – Opens hypermarket branch in AL WASL, a densely populated residential and commercial area in Dubai.
  • 2008 - Opening of ‘Ajman Markets Cooperative Society’ hypermarket branches in areas of Nuaimiya, Al Rumailah 2 and Al Ittihad St - Al Jurf 1, Ajman, UAE.
  • 2010 – Opening of Etihad Mall and a Union Coop hypermarket Branch within, in MIRDIF area of Al Khawaneej St - Dubai.
  • 2011 – Opens second mall in Al BARSHA, Dubai by the name ‘Al Barsha Mall’ and the second largest Union Coop Hypermarket facility within.[1]
  • 2015 – Opens first branch with ‘smart trolley’ assistance facility in UMM SUQEIM, Dubai.[13]
  • 2015 - Union Coop launches Smart Mobile Application to match the changing times and market.[14]
  • 2016 – Opens multiple projects in the form of Mini Coop grocery store branch in Al Mizhar, hybrid grocery concept ‘Coop’ store branch in Al Mamzar and a hypermarket branch in ‘The Pavilion’ International City, Dubai.[15]
  • 2016 – Union Coop signs contract to manage Umm Al Quwain Coop.[15][16]
  • 2017 – Opens hypermarket branch in Abu Hail, Dubai. A strategic move to reach larger segment of mixed population in the emirate.[8][17][18]
  • 2017 - Launches Online shopping store.
  • 2018 – Posts largest profit figures since 1982.
  • 2018 – Opens second ‘Coop’ concept Store in The Pointe area of Palm Jumeirah, Dubai.
  • 2018 - Launches First-ever electronic self-help device in the Middle East at ‘Al Barsha Mall’.[19][20][21]
  • 2019 - Opens the 17th Union Coop hypermarket branch in Nad Al Sheba – 2, Dubai and thus serving areas of2 Nad Al Sheba 1, 2 and 3.
  • 2019 - Launches Electronic Share trading platform for Union Coop Shareholders.
  • 2020 – Opens Coop Factory wholesale warehouse facility in Al Tayy, Dubai.
  • 2020 - Opens a Commercial Center with a Coop Store in Al Quoz, near Sheikh Zayed Road.
  • 2020 - Opens its Third Mall ‘Al Warqa City Mall’ with the Union Coop hypermarket branch near Tripoli Street, Al Warqa - 3, Dubai.
  • 2021 – Opens 21st Branch on Hessa Street, Al Barsha, Dubai.[22][citation needed]
  • 2021 - Opens 22nd Branch on Barsha South, Al Barsha, Dubai

Subsidiaries

Coop Stores

Union Coop at present has 3 Coop Stores in areas of Al Quoz, Jumeirah – The Pointe and Al Mamzar, Dubai. Coop Stores are hybrid grocery stores that house similar shopping experience of that of a hypermarket but in a smaller environment.[citation needed]

Al Tayy

Union Coop opened a Wholesale Warehouse in Al Tayy area in Dubai, which is located near the Emirates Road, making it accessible to residents of Dubai, Sharjah as well as Ajman.[citation needed]

An extension of Union Coop’s retail is Coop Factory, which is a whole sale business that allows buyers to get discounts on bulk purchases.[citation needed]

Mini Coop Al Mizhar

Mini Coop is a smaller version of the regular hypermarket. At present, Union Coop has only 1 Mini Coop branch located in Al Mizhar, Dubai.[citation needed]

Private Label

Union Coop’s private label includes more than 2000 Food and Non Food products under the names – Union, Euro Farm, Euro Care and Great Value.[17]

Projects

The current projects undertaken by Union Coop include - First Hebiah Center in Motor City, Al Nahda Branch (Second Al Nahda), Nad Al Hamar Centre, Dubai Silicon Oasis Centre, Investment in a Commercial Center in Wadi Al-Safa5, Staff Housing Project / Al Quoz, Warsan Staff Accommodation, Al Khawaneej Commercial Centre, Margham Branch Project / Dubai Al Ain Street (Mohammed Sultan Bin Markhan), Jumeirah City Mall and Hatta Land.[6]

Operations

As of June 2021, there are 27 Union Coop Hypermarkets and Coop stores and 3 Malls operating across Dubai, UAE. Union Coop’s 3 malls are located in areas of – Al Warqa City Mall in Al Warqa, Al Barsha Mall in Al Barsha 2 and Etihad Mall in Al Muhaisnah First, Dubai.

Union Coop operates one outlet outside Dubai namely ‘the Umm Al Quwain Coop Society’ in Al-Salamah area in the Emirate of Umm Al-Quwain.[10]

CSR

Union Coop spent approximately AED 274 Million in corporate social responsibility activities from year 2011 to 2022. Through CSR initiatives and contributions, Union Coop supports sectors such as Government, Education and Non-Government.

Union Coop is involved in campaigns with Dubai Police, Dubai Autism Center, Dubai Judicial Institute, Supporting National Service Employees, Charity Establishments.[23]

Achievements

  • Recognized by the CSR Label in the field of Corporate Social Responsibility initiatives for the 9th year in a row, 2019.
  • Honored by the Personal Status Court for participation in the ‘Super Winter Merchants’ initiative, 2020.
  • Honored by Dubai Foundation for Women and Children for its extended support towards the initiatives managed by the foundation, 2021.
  • Recognized at the GovDX Leadership Summit & Awards 2022.[4][5]

Awards

Year of Award or Honor Name of Award or Honor Awarding Organization
2013-2022 Dubai Chamber Corporate Social Responsibility (CSR) Label[24] Dubai Chamber
2020 Dubai Endowment Sign.[25][permanent dead link][citation needed] Mohammed Bin Rashid Global Centre for Endowment Consultancy
2018 Union Coop Awarded ISO/IEC 27001.[26] Bureau Veritas
2018 Recognized as 2018 ‘Aon Best Employer in the Middle East’.[27] Aon
2017 Dubai Economy honours Union Coop Al Twar [28] Dubai Economy
2014 Mohammed Bin Rashid Al Maktoum Business Award.[29] Sheikh Mohammed Bin Rashid Al Maktoum Business Award 8th Cycle
2014 Middle East Co-op Society Excellence Award.[30] Mohammed Bin Rashid Global Centre for Endowment Consultancy
2012 Mohammad Bin Rashid SME Fund Awards.

[31]

Mohammad Bin Rashid SME Fund
2011 Dewa honors Union Coop for Ramadan Initiative [32] DEWA

References

  1. ^ a b "DFM welcomes the listing of Union Coop, the largest retail cooperative in the UAE". Government of Dubai. 2022-07-18. Archived from the original on 2022-07-19. Retrieved 2024-01-20.
  2. ^ Nagraj, Aarti (2022-07-01). "Union Coop to become first UAE retail co-operative to list on DFM". The National News. Retrieved 2024-01-20.
  3. ^ Kapur, Vicky (2016-02-08). "Mohammed announces 'biggest structural changes' to UAE government". www.emirates247.com. Retrieved 2024-01-20.
  4. ^ a b Rahman, Fareed (2022-11-10). "UAE's new co-operative law to come into effect next month, Ministry of Economy says". The National News. Archived from the original on 2022-11-10. Retrieved 2024-01-20.
  5. ^ a b Abbas, Waheed (2022-03-09). "Ramadan 2022 in UAE: Up to 75% discount on 30,000 items announced". Khaleej Times. Retrieved 2024-01-20.
  6. ^ a b Naranyanan, Archana; Fioretti, Julia (2022-08-04). "UAE Healthcare Provider Seeking to Raise $750 Million From IPO". Bloomberg News. Retrieved 2024-01-20.
  7. ^ "Dubai Municipality, Union Coop to collaborate to ensure supply of strategic food commodities in local markets". Arabian Business. 2023-12-14. Retrieved 2024-01-20.
  8. ^ a b "Union Coop will allows UAE citizens to buy shares". Gulf News. 2019-07-01. Retrieved 2024-01-20.
  9. ^ Fioretti, Julia; Narayanan, Archana (2022-08-03). "UAE Exchange Firm Al Ansari Considers Dubai IPO". Bloomberg News. Retrieved 2024-01-20.
  10. ^ a b "Union Coop makes 2022 net of $108m; sets 22pc cash dividend". Trade Arabia. 2023-03-23. Archived from the original on 2023-03-23. Retrieved 2024-01-20.{cite web}: CS1 maint: unfit URL (link)
  11. ^ Diala, Criselda E. (2015-04-02). "Union Co-Op eyeing direct goods import". Khaleej Times. Retrieved 2024-01-20.
  12. ^ Bridge, Sam (2018-12-24). "Dubai retailer Union Coop reveals major expansion plan". Arabian Business. Retrieved 2023-09-10.
  13. ^ "Union Coop posts record profit". Gulf News. 2018-03-05. Retrieved 2024-01-20.
  14. ^ Bridge, Sam (2018-11-08). "Dubai retailer Union Coop unveils $70m mall project". Arabian Business. Retrieved 2023-09-10.
  15. ^ a b "Union Coop To Offer Electronic Share Trading To Benefit Investors with Emirates Islamic and Nasdaq Dubai". Nasdaq Dubai. 2018-02-07. Archived from the original on 2018-12-12. Retrieved 2024-01-20.
  16. ^ "Union Coop to offer electronic share trading". Gulf News. 2018-02-07. Retrieved 2024-01-20.
  17. ^ a b Shaaban, Ahmed (2019-07-02). "Emirati citizens can buy Union Coop shares from September". Khaleej Times. Retrieved 2024-01-20.
  18. ^ "Dubai kicks off autism awareness campaign". Dubai Autism Center. 2019-04-02. Retrieved 2024-01-20.
  19. ^ "Massive support continues for '10 Million Meals' from UAE community". gulfnews.com. April 25, 2020.
  20. ^ "Union Coop offers drive-thru shopping experience in Dubai". Khaleej Times. 2020-05-20. Retrieved 2024-01-20.
  21. ^ "Drive-thru grocery shopping launched at Union Coop". gulfnews.com. May 19, 2020.
  22. ^ "Union Coop contributes Dh10 million for '1 Billion Meals Endowment' campaign". 2023-04-06. Retrieved 2023-09-10.
  23. ^ "Union Coop's net profits fall in H1-23 financial results". Retrieved 2023-09-10.
  24. ^ Nair, Benoi (2022-10-19). "Union Coop Awarded the Dubai Chamber CSR Label for the 'Tenth' consecutive time". Union Coop Media Center. Retrieved 2024-01-20.
  25. ^ "Dubai Endowment Sign".
  26. ^ Abubaker, Rasha; Ismail, Esraa (2018-02-14). "Union Coop awarded ISO/IEC 27001". Emirates News Agency. Archived from the original on 2021-10-26. Retrieved 2024-01-20.
  27. ^ "Aon names 'Best Employers in the Middle East'". Arabian Business. 2018. Retrieved 2024-01-20.
  28. ^ "Dubai Economy honours 17 retailers". Khaleej Times. 2018-01-28. Retrieved 2024-01-20.
  29. ^ "H.H. Sheikh Maktoum honours winners of Mohammed bin Rashid Al Maktoum Business Award 2014". Dubai Chamber. 2015-05-27. Archived from the original on 2021-10-28. Retrieved 2024-01-20.
  30. ^ "The Middle East Food Industry Excellence Award Winners Felicitated at the Burj Al Arab Hotel". Middle East Excellence Awards Institute. 2014-01-29. Retrieved 2024-01-20.
  31. ^ Bitar, Zaher (2012-12-12). "'Mohammad Bin Rashid SME Fund' decreed". Gulf News. Retrieved 2024-01-20.
  32. ^ Farrukh, Ahmed (2019-11-16). "To assess the role of 24-hour helpline service in the management of diabetes during the holy month of ramadan". doi:10.26226/morressier.5d9b6234ea541d6ca84942a3. Retrieved 2023-10-20.