Landmark International invests Dh110m in 70 new outlets

Landmark International, a division of UAE's Landmark Group, is investing Dh110 million to open 70 stores in the GCC and Levant.

"We have acquired the regional franchises of five leading international brands," said Director Renuka Jagtiani. "In the next three years, our plan is to position them and our existing brands in the GCC markets.

"By February 2006 we will add 12 more retail showroom in the UAE, and between 25 and 30 new stores in three years."

Under the current development programme, the retail space managed by Landmark International is expected to grow to 200,000 square feet within three years.

However, with more brands currently under negotiation, this figure could double.

"We believe the Middle East is poised for a phase of exponential retail growth. Landmark International has been set up to capitalise on the opportunities. The division will source, secure and roll out international fashion and lifestyle brands that are new to the region," she added.

The group formed Landmark International as part of its objective to become a leading contender in the region's retail sector.

The success of the 12-year-old group was built during the 1990s when organised retailing began to reshape Dubai's retail business.

The first phase of this growth is already in motion with five new brands already signed up and stores either open or in the process of being set up.

After the successful launch and opening of eight operational stores in Saudi Arabia, Koton, a Turkish fashion brand focused on young adults, opened its first UAE store in Sharjah's Mega Mall, and two more stores are planned in the coming months one at the Mall of the Emirates, Dubai, and the other at Marina Mall, Abu Dhabi.

It has also added the UK boutique Aftershock to its portfolio.

Jagtiani said the region's retail fashion sector will continue to grow, partly due to the continuous economic expansion, rapid population growth, and the tourism industry surge.

The market is also evolving quickly to keep up with the overall pace of growth.

"In coming years, the GCC is going to be a very busy and growing market," she said. "One has to adapt to the continuous changes and the challenges it poses."

MARKET PRESENCE
Ambitious expansion plans under way

• The Landmark group owns brands such as Splash, Home Centre, Lifestyle, Baby Shop, Shoe Mart and Max, and operates more than 350 stores.
• In the UAE, Landmark trades out of two stores in Sharjah Mega Mall and Sahara Centre
• A third store is due to open in the Mall of the Emirates in September.
• It has ambitious expansion plans for 4YOU, Reiss and La Vie en Rose, the three new brands under its portfolio.