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Deutsche Bank upgrades Alhokair to buy Wednesday, 10th October 2012
Deutsche Bank has upgraded Alhokair to buy, as impressive growth and untapped potential make it the ’top pick’ among Saudi retailers. The Saudi Arabian franchise operator, who counts Marks & Spencer, Inditex, Gap and Superdry amongst its joint venture partners, has been racking up an aggressive expansion rate in the Middle East and CIS region.
Hermès enjoys luxury of stronghold in Asian markets Monday, 1st October 2012
“We have not seen any inflexion of any kind in our sales.” Hermès chief executive Patrick Thomas told Reuters on Sunday: “Therefore our targets for the year remain unchanged.”
With the global luxury market becoming increasingly polarised, healthy sales and a strong presence in emerging markets have shown Hermès to be resilient against deteriorating trading conditions elsewhere.
Fawaz AlHokair enters eighth international market with the opening of fifteen global brands simultaneously Wednesday, 18th April 2012
Fawaz A. AlHokair & Co, SJSC, (Alhokair) have made their debut in Tbilisi, Georgia, as major tenants of the newly opened Uptown Tbilisi Mall. The launch will see Alhokair become Georgia’s largest retail group, with 15 of the retail specialist’s franchised brands opening in the mall on 6 April, and another 17 planned to open by the end of June this year.
Fawaz Alhokair announce 62% increase in annual profits Tuesday, 17th April 2012
The Saudi Arabian-based retail franchiser on Tuesday revealed a 62.4 per cent annual like-for-like increase in operating profits. Estimated operating profits for the year ending 31 March totalled SAR425.48 million, (USD113.41 million), an increase of 62.4 per cent compared to the same period a year before.
Tesco unveils first F&F franchise for Saudi Arabia with Al Hokair Tuesday, 17th January 2012
Tesco has unveiled a new franchise model with Fawaz Abdulaziz Al Hokair which is set to turn F&F into a major global brand. F&F will make its debut in Saudi Arabia later this year, as Tesco looks to position the brand as the world’s leading label of affordable fashion. Over the next few months Tesco will work with Al Hokair to roll-out F&F stores across shopping malls, department store and hypermarkets in the region.
Ferragamo sees double digit growth for first 9 months 2011 Wednesday, 16th November 2011
Salvatore Ferragamo reported an impressive jump in net profit for the first nine months of the year, as the company strengthened its presence in the Asia Pacific region. Total revenues for the Italian luxury brand increased 27.6 per cent to EUR 701.3 million compared to EUR 549.8 million last year. The group attributed the growth to the surge in popularity for its “Made in Italy” image, as well as a higher, luxury positioning worldwide.
AlHokair takes Garage global Monday, 11th July 2011
Fawaz A. AlHokair, Fashion Retail, has announced it will be partnering with the young Canadian fashion retailer, Garage, for further expansion in the Middle East and C.I.S Region.
As the leading retail franchise group for the MENA Region and C.I.S Region, Fashion Retail will roll out the first Garage stores in Saudi Arabia, followed by other international markets.
Founded in 1975, Garage now operates over one hundred and sixty stores in North America from Montreal to New York, Miami, Houston and is a favorite for fashion focused teenage girls. The move marks the retailer's next major international venture, having introduced its stores to the US in late 2007 and UAE & Qatar in 2010.
"Fashion Retail is delighted and excited to embrace such an exciting and innovative brand as Garage within our brand portfolio. Fashion forward brands form an integral part of our retail franchise offering and we look forward to introducing Garage's high-energy designs and unique brand positioning to the Middle East." said Simon Marshall, Chief Executive Officer of Fashion Retail.
"We are very pleased to bring the Garage brand to fruition in the Kingdom of Saudi Arabia and want to thank Fawaz A. AlHokair and their ongoing support", says Anna Martini, President of Garage. "We feel that we have an expert partner in undertaking this new venture and look forward to be recognized as a worldwide brand in major shopping destinations in the years to come."
Benetton revokes Syrian retailer’s license Wednesday, 6th July 2011
Italian fashion house Benetton has announced the termination of its license agreement with Syria’s leading fashion retailer Samha Group.
Having worked with Benetton for over 15 years operating mono-branded stores for the brand in Syria, Egypt and Jorden, Samha has now been dropped from the fashion chain’s franchise.
It is unclear what effect this move will have on Samha’s other partnerships with Inditex Group and Hugo Boss, although the political turmoil seen in the region over the past five months has had an unprecedented effect on the Syrian economy.