Dubai’s Al Ghurair to expand business in GCC
14 Dec 2014
(MENAFN) Dubai’s Al Ghurair Retail announced it is planning to expand its business in the GCC by a third next year, with the launch of more than 30 new stores in the region, which will be added to the 60 it currently operates in the UAE, Qatar and Kuwait, Arabian Business reported.
The company, part of Dubai-based Al Ghurair Investments, also said that it will sign with two new fashion brands, which will be added to the brands that recently became part of Al Ghurair Retail’s portfolio, including Boux Avenue Lingerie, Morgan de Toi, the French clothing brand, and Prenatal which sell clothing, accessories, toys and toiletries for mothers and children.
The company also said that it is planning to invest heavily in the Qatari and Kuwaiti markets by opening new stores in shopping malls in these countries, adding that these plans come as a result of retail sales across the GCC being expected to rise by 8.3 percent by 2015, reaching USD240 billion.
“The retail sector in the Gulf has shown consistently strong growth over the last few years, and that seems set to continue. So for us it makes perfect sense to expand our store presence within the GCC, and take our international brands into new markets,” general manager, Al Ghurair Retail.