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FINANCIAL NEWS
Dubai’s MAF to introduce Hollister, A&F in the GCC
01 Mar 2013
(MENAFN) Dubai-based Majid Al Futtaim (MAF) Fashion has inked franchise deals with several US retailers, including Hollister, to open stores in the GCC region, Arabian Business reported.
MAF Fashion, the retail arm of MAF Ventures, will debut Hollister and Abercrombie & Fitch outlets in the UAE and it will expand in the GCC later on.
The company said it will open the first Hollister store in Dubai this year. Retail accounts for around 30 percent of GDP in the emirate, according to Standard Chartered estimates. Dubai is home to about 40 shopping malls.
It added that it is currently in talks to introduce the Abercrombie & Fitch brand to the region, targeting to open its first outlet in 2014.
It also said that it will open the first Halston Heritage in Kuwait in the second quarter of this year.
Asil Attar, CEO of MAF Fashion, expected sales at MAF Fashion to grow this year, boosted by an increase in the number of tourists in Dubai.
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