KUWAIT CITY: New York’s iconic department store Bloomingdale’s opened its doors on Tuesday at the 360 Mall in Kuwait City, only its second location outside of the US.
Bloomingdale’s has again partnered with the UAE’s Al Tayer Group, which is investing approximately $46 million (Dh170 million) into the venture. This latest collaboration follows the 2010 launch of Bloomingdale’s in Dubai Mall, at the time its first foreign venture.
“We have built a great relationship with Bloomingdale’s, combining their best practice from years of experience, with our local expertise and know-how,” said Khalid Al Tayer, CEO of Al Tayer Insignia, in an interview.
He said the company had to do extensive research in the US and Europe to identify the latest trends in luxury retail.— Gulf News Business (@GulfNewsBiz) March 15, 2017
He continued: “From personalised services to merchandise that is uniquely tailored to the market needs, we will constantly innovate and introduce new concepts that create true value to our customers and enhance the in-store experience.”
Spanning over 93,000 square feet, the three-level apparel, beauty and accessories store will also be operated by Al Tayer Insignia. With this venture, the group has sought to further consolidate its position as a leading luxury fashion retailer in the Middle East.
Al Tayer is emphasising the need for a truly VVIP experience, noting many facilities the new Bloomingdale's has are unique in Middle East pic.twitter.com/qk6w6glVfI— Gulf News Business (@GulfNewsBiz) March 15, 2017
According to senior figures at Al Tayer Group, research conducted before the opening in Kuwait suggested that Kuwaiti women had the highest spend per capita in the world on beauty products, however roughly 50 per cent of that spend went abroad.
“Bringing that spend home was certainly a big part of how we got started,” said Preston Antonini, Senior Vice President — Beauty, Al Tayer Group.
“We wanted to give Kuwaiti women the opportunity to shop in their own country, and not have to travel abroad. We also wanted to attract Saudi women to come over with their friends for the weekend to shop at Bloomingdale’s, and we’re already seeing that,” he added.
A subsidiary of Macy’s Inc, Bloomingdale’s began its foray in to the Middle East market back in 2010, and will open a third store in the region in Abu Dhabi in late 2018.
Alongside the new Bloomingdale’s, Al Tayer Group will also open the first Macy’s outside of the US, at the $1 billion, 2.8 million square feet Al Maryah Mall in the capital.