Eva Abi Haidar wrote in Al-Gomhoria: A new group of brands announces their withdrawal from the Lebanese market. With the increasing economic pressures, the image of Lebanon also began to change. And after Lebanon was the first destination for foreign companies in the region, it began to lose this advantage. What face of the new Lebanon is drawn today?
The head of the Franchise Licensing Association, Yahya Qasa, told Al-Gomhoria: “It is true that the situation is tired, but there are no complete withdrawals yet from the Lebanese market. “. He explained, “Al-Shaya Company did not withdraw from the Lebanese market completely, as it closed the brands that were no longer profitable, reduced their presence in the market, and reduced the number of employees. However, the company kept the main offices of some stores such as H&M, Starbucks and Mac.” Because it achieves positive indicators, and preferred not to bear the loss of the rest of the stores. “Kasaa assured that maintaining a small profitable presence in the market is better than bearing the loss of most stores, which is pushing in the direction of total withdrawal from the market. He explained that returning after a total withdrawal would be very difficult, but staying in the country, even with a small share, as happened with Al-Shaya, would facilitate the return step once conditions improve.
Regarding the ability of these companies to withstand, amid these crises Lebanon is going through, he said: “Lebanon is going through three cases at the same time: an economic situation, which is particularly represented in the financial and monetary crisis in which we are living. We work by means of three exchange rates, without a vision, a plan, nor Trust, which automatically means all hope for the future has dissipated, and the poverty line has reached 55%, which inevitably means a decline in purchasing power.
There is a political case that is represented in the fluctuation in forming a government, then not a government, then a caretaker government, and ministers who are not doing their job as they should.
And thirdly, we have the social situation, which we fear will reflect negatively on the security situation.
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