BRANDS, a retail brand established in the UAE expects a strong opportunity for growth in the retail market for 2023. Their projections are in line with the continuous growth potential in the UAE's retail market which has benefited from continuous population growth, a rise in gross domestic product per capita and a booming tourism industry.
BRANDS opened a multitude of new stores in the UAE amidst the pandemic and expanded its reach regionally due to the increase of footfall in stores. With the country’s robust shopping promotions throughout the year, the company is able benefit from releasing compelling offers along with having higher consumer spending. The UAE's government initiatives such as the Dh50 billion three-year economic stimulus package, ease of visa restrictions and renewed spending on infrastructure projects have also contributed to the BRANDS’s recovery and growth.
Dorgham Shaaban, CEO & Chairman of BRANDS said, “This year, we will open novel stores across the UAE with a particular plan and focus on introducing standalone concepts for our DKS and Jack Morgan brand.”
With the UAE being one of the most attractive retail markets in the region for retailers, Shaaban is confident that Q1 of 2023 will remain strong for BRANDS as they focus on attracting new customer segments.
“As we embark on our journey in the first quarter of 2023, we are well-positioned to continue our success by introducing innovative fashion concepts, providing client-centric services and consistently offering high-quality products at affordable prices,” he added.
BRANDS is well recognized for its factory prices offer on its wide collection of men’s apparel. Whilst keeping the customer focus and affordable pricing in mind, BRANDS is expected to have expeditious growth in the UAE, paving the way for more remarkable expansions in the future.
