In February of 2010, the upscale department store chain will open a pair of stores in the Dubai Mall as part of a strategic relationship with Al Tayer Group LLC, a UAE-based company with diversified businesses.
A three-level, 146,000-square-foot apparel and accessories store and a one-level, 54,000-square-foot home store will together anchor The Dubai Mall, which is expected to be the world's largest shopping center when completed in late 2008, surpassing the Mall of America in Bloomington, Minn.
Bloomingdale's said the merchandise assortment, upscale ambience and high level of customer service will be similar to its stores in the U.S., while being sensitive to local preferences and customs. The stores will be managed and operated by Al Tayer Insignia, a division of Al Tayer Group, under a licensing agreement.
"This will be our company's first overseas location, and we expect to learn a great deal about how our brands translate internationally," said Terry J. Lundgren, chairman, president and CEO of Macy's Inc., parent company of Bloomingdale's, in a statement. "Dubai offers a unique opportunity for Bloomingdale's. It is a fast-growing, affluent marketplace that has emerged as an international destination for tourism, sporting events and business."
Michael Gould, Bloomingdale’s CEO, added: “Bloomingdale's is a national fashion store with an international reputation. Our Dubai store will feature the events, theater of retailing, visual excitement and outstanding contemporary luxury brands that customers associate with Bloomingdale's."
Al Tayer Group was represented in the deal by Marvin Traub Associates Inc. Michael Steinberg provided strategic support to Macy’s, Inc. Traub was the long-time chairman of Bloomingdale’s, and Steinberg was a CEO of Macy’s West.
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