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FINANCIAL NEWS
John Lewis canceles talks with Futtaim
23 Jul 2011
(MENAFN) Al-Futtaim Group stated that John Lewis, the well-known UK-based department store, canceled the the plans for launching their brand in the UAE under the management of the Al-Futtaim Group, reported The National.
Al-Futtaim stated that had the plans been carried out, the brand would have done well in the region due to its strength. Their performance is stronger than most retailers, with many other reporting a fall in sales year on year.
Al-Futtaim added that the UK company felt they would rather focus on their UK expansion than try their luck overseas.
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