Dubai-based Al Ghurair Retail has announced plans to launch 30 new stores in the GCC next year, expanding its footprint in the region by a third.
The company, part of Al Ghurair Investments, is also set to sign two new fashion brands in the coming months as it seeks to tap into a growing retail market in the region. The retailer’s brand portfolio has also doubled from three to six in 2014, the company said in a statement.
The latest addition will see Al Ghurair’s retail presence in the region increase to 90 shops from the 60 it currently operates in the UAE, Kuwait and Qatar.
Fifteen of the new stores to be launched in 2015 include brands such as Boux Avenue Lingerie, Morgan de Toi and Prenatal, all of which recently became a part of Al Ghurair’s portfolio.
The company will open nine Boux Avenue Lingerie stores, three outlets of Morgan de Toi, the French clothing brand, and three Prenatal stores, which sell clothing, accessories, toys and toiletries for mothers and children.
Other brands that Al Ghurair will be launching in the GCC are two stores of European clothing retailer Springfield and two outlets of Korean skin care shop The Faces Shop.
“The retail sector in the Gulf has shown consistently strong growth over the last few years, and that is set to continue,” said Keith Flanagan, general manager, Al Ghurair Retail.
“So for us it makes perfect sense to expand our store presence within the GCC, and take our international brands into new markets.
Flanagan said that Al Ghurair is also planning to invest heavily in Qatar and Kuwait, opening new stores in shopping malls in these two areas.”
Retail sales across the GCC are expected to rise by 8.3 per cent in the five years to 2015, reaching $240 billion. In addition, the UAE, Kuwait, Saudi Arabia, Oman and Jordan were all ranked in the top 25 in this year’s A.T. Kearney Global Retail Development Index.
Growing number of mega malls and the increasing spending power have further fuelled the growth of retail sector in the GCC.
Recently Kuwait-based retail franchise operator Alshaya launched 42 brands in the recently opened Yas Mall in Abu Dhabi.
In 2013, local distributor Chalhoub Group opened 50 stores while Dubai retail conglomerate Apparel Group opened another 40 stores.