Abercrombie & Fitch Co. is furthering its growth in the Middle East through a franchise agreement with Majid Al Futtaim Fashion.
The franchise agreement provides for the establishment of retail stores in the Kingdom of Saudi Arabia, Qatar, Bahrain and Oman. The teen retailer has already opened eight stores in the United Arab Emirates and Kuwait since 2013, also with Majid Al Futtaim Fashion.
Abercrombie said the agreement includes its core Abercrombie brand, as well as its abercrombie and Hollister brands. It also said stores in Qatar will open in the first quarter of 2017, while stores in the Kingdom of Saudi Arabia will open in the second half of 2017.
Arthur Martinez, executive chairman, said, “We expect there to be strong demand for our brands in these new markets, and we are thrilled to partner with Majid Al Futtaim Fashion to expand our presence in the Middle East.”
Rajiv Suri, chief executive officer at Majid Al Futtaim Fashion, said, “We have seen significant demand within the last few years in the United Arab Emirates and Kuwait, and we look forward to helping Abercrombie & Fitch Co. grow in this market.”
Abercrombie’s franchise partner is the fashion retailing arm of Majid Al Futtaim, the leading shopping mall and retail operator across the Middle East and North Africa. It operators more than 135 stores in seven markets across the Middle East and North Africa region, working companies such as Abercrombie, AllSaints, Lululemon Athletica, Juicy Couture, Halston Heritage and Peacocks. The fashion retailing arm plans to double its portfolio within the next five years through strategic partnerships with high-profile brands.