Dubai:
Al Ghurair Retail is adding new brands to its portfolio as the retail sector appears to be upbeat, according to the company’s top executive.
Al Ghurair Retail is a business unit of Dubai-based Al Ghurair Investment, which is involved in a range of sectors, such as construction, property and energy.
With operations in the UAE, Qatar and Kuwait, Al Ghurair Retail plans to expand to Oman, Bahrain and Saudi Arabia by 2018.
“The retail landscape has evolved hugely in Dubai, and it will continue to evolve. The retailing environment will continue to develop and grow. I think we’ll see more and more malls and more entertainment in malls,” said Keith Flanagan, general manager of Al Ghurair Retail.
In the coming three months, the retail unit will open seven stores in the UAE across three brands, which are new entrants into the Gulf market, according to Flanagan. These include UK-based Boux Avenue Lingerie, French clothing brand Morgandetoi, and Prenatal, which offers mothers and children clothing, accessories, toys and toiletries.
Next week, the Boux Avenue stores will open in Dubai’s Mirdif City Centre and Dubai Festival City Mall, and Khalidiyah Mall Abu Dhabi, while the Morgandetoi stores will open on Yas Island in the capital and Al Ghurair Centre in Dubai. And by early September, Prenatal stores will open on Yas Island and Sahara Centre in Sharjah.
The company also plans to take Boux Avenue and Prenatal to malls in Qatar.
Flanagan, however, did not disclose the size of the investment for the expansion.
The new additions bring the total number of brands to six, including lingerie and sleep wear brand Triumph, South Korean skin care and cosmetics brand The Face Shop, and men’s and women’s clothing brand Springfield.
Al Ghurair Retail is also in talks with four global brands, including in the Americas, Europe and the Far East, which it expects to bring to the market next year. Flanagan did not disclose the name of the brands, expect to say they fall under the fashion, accessories, and food and beverage categories.
“It’s very competitive here, virtually every market segment is represented. So when we sign these brands, they are bringing something that offers something quite unique that nobody else is doing here,” Flanagan said.
The company is also looking to introduce a healthy food brand.
“Healthy on-the-go and dining options are a gap in the market,” said Sohail Gondal, CEO of AGI Ventures, which is Al Ghurair Investment’s new business unit. Formed in January, this unit is responsible for overseeing the growth strategies of the company’s retail, education, printing and publishing businesses.
Further, according to Flanagan, Al Ghurair Retail is interested in opening stores in Mall of the World, a new retail and hospitality project that was announced earlier this month by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
The mall will occupy an 8 million square feet area, and will be connected to 100 hotels and serviced apartments.
According to Flanagan, Dubai Holding, the project’s developer, has not yet been in contact with retailers about leasing opportunities.
