Al Ghurair Retail plans 30 new outlets in GCC

Al Ghurair Retail plans to expand its footprint in the GCC by a third next year, with the launch of over 30 new stores in the region, said a statement.

The company, part of Dubai-based Al Ghurair Investments, is also set to sign two new fashion brands in the coming months as it seeks to tap a regional retail market that’s still enjoying strong growth. Its brand portfolio has already doubled in 2014 from three to six.

Next year’s store expansion will see Al Ghurair Retail’s presence in the GCC increase to nearly 100 shops from the 60 it currently operates in the UAE, Qatar and Kuwait and a number of new to the region world class brands will be added to the brand portfolio.

Fifteen of the new stores will be brands that recently became part of Al Ghurair Retail’s portfolio: nine Boux Avenue Lingerie, three Morgan de Toi, the French clothing brand, and three Prenatal stores, which sell clothing, accessories, toys and toiletries for mothers and children.

Of the remainder, two will be European clothing retailer Springfield and two will be the Korean skincare outlet The Faceshop.

“The retail sector in the Gulf has shown consistently strong growth over the last few years, and that seems 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.

“This has been an exciting and hugely successful year for us, having recently doubled our retail brand offerings by signing three very prestigious global brands: Boux Avenue, Morgan de Toi and Prenatal. I’m delighted to say that we are planning to add more brands to our retail portfolio in the next few weeks.”

Flanagan said the company 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. The UAE, Kuwait, Saudi Arabia, Oman and Jordan were all ranked in the top 25 in this year’s AT Kearney Global Retail Development Index.

Retail growth has been supported by the recovery in the property and construction sector, an increasing and predominantly young population, strong GDP growth, and rising consumer spending.

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