Alghanim Industries - Alghanim Story

Alghanim Story

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 son, 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 1970s and the early 1980s, 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 Iraq War in 2003, 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. Prior to joining Alghanim Industries, Mr. Alghanim worked as a financial analyst with Morgan Stanley in London, focusing on corporate finance, mergers and acquisitions in the Middle East. He received his MBA from Harvard and his undergraduate degree from the Stern School of Business. .