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FINANCIAL NEWS
Dubai’s Paris Gallery set to open 2 stores in S Africa
21 Mar 2013
(MENAFN) Paris Gallery CEO, Mohammed Abdul Rahim Al Fahim, stated that the Dubai-based luxury retailer is expected to ink an agreement this year to launch two stores in South Africa, reported Arabian Business.
Al Fahim said that the company was at first approached by investors in South Africa in 2008 and was evaluating the market, and now expects to open two stores in Johannesburg and Cape Town.
The company, which has around 30 stores and plans to launch more in 2013, inked an agreement in October 2012 allowing Al Handal Group to open 5 franchise stores in Iraq over the coming 3 years.
It is worth noting that Paris Gallery turns over nearly USD1 billion worth of perfume, cosmetics and other products on annual basis.
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