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FINANCIAL NEWS
Lebabnon’s Azadea inks franchise deal with UK retailer Asda
26 Jan 2012
(MENAFN) Asda, UK’s second largest retailer, will make a debut in the Middle East with the launch of its George budget clothing brand, Arabian Business reported.
The British arm of US retailer Wal-Mart Stores inked a franchise deal with a Lebanon-based conglomerate Azadea Group to introduce its George brand and set a foothold in the region’s market.
Asda last year announced plans to establish a small number of pilot George stores in the Middle East in a bid to grow its non-food revenues.
Beirut-based Azadea already operates more than 300 stores across the Middle East, with a retail portfolio that includes Mango, Pull and Bear, Maxmara and Stradivarius.
The George label includes everything from budget bridal dresses to school uniforms, and currently accounts for around half of Asda’s general merchandise sales.
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