ABERCROMBIE & FITCH SIGNS DEAL TO INCREASE MIDDLE EAST EXPANSION
Abercrombie & Fitch Co. has expanded its existing relationship with Majid Al Futtaim Fashion through a franchise development agreement to establish a retail store presence in the Kingdom of Saudi Arabia, Qatar, Bahrain and Oman. Since 2013, the company, with the support of Majid Al Futtaim Fashion, has opened eight stores in the UAE and Kuwait.
This franchise agreement encompasses the Abercrombie & Fitch, Abercrombie kids and Hollister brands and further demonstrates the company’s commitment to growth in the Middle East.
Abercrombie expects to open its first stores in Qatar in the first quarter of 2017, and in the Kingdom of Saudi Arabia in the second half of 2017.
“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,” said Arthur Martinez, executive chairman of Abercrombie & Fitch Co. “This arrangement represents our second major franchise partnership, as we continue to expand our brand reach.”
Rajiv Suri, CEO of Majid Al Futtaim Fashion, added: “We are excited to continue supporting the development of the Abercrombie & Fitch, Abercrombie kids, and Hollister brands in the Middle East. We have seen significant demand within the last few years in the UAE and Kuwait and we look forward to helping Abercrombie & Fitch Co. grow in this market.”
