Dubai: Sedar, a UAE-based home decor company, plans to enter Kuwait this year, according to Anwar Selo, director of franchise operations at the company.
The store in Kuwait is expected to open in five months time, joining Sedar’s 18 outlets in the UAE, Saudi Arabia, Oman, Qatar and Bahrain.
The private company, which sells blinds, drapes, pillows, awnings and accessories, plans to have 150 stores globally over the next five years, with 110 of those franchised, Selo said. The next three years are expected to see 40 more stores open.
Sedar is investing between Dh100 million and Dh200 million using its own funds for the new outlets, a logistics system, and a new production facility in Saudi Arabia, he said.
“Once we finish [expanding in] Algeria and Egypt, we are looking at Morocco, Tunisia and possibly Sudan,” he said.
Sedar is eyeing opportunities beyond the Middle East and Africa, in the US, China, South Korea, Japan, Italy and France.
“In the US, we want to go to places that are exclusive, like Beverly Hills, Miami and New York … and then we’re looking at Shanghai, Seoul and Tokyo — that’s in the next five years,” Selo said.
The company is looking to open in Italy or France by 2017.
“Countries in Europe have the niche for our products, and competition in those countries is more on the lower end [of the market],” he said.
