Hollister to make its Middle East debut in 2013
Dubai, United Arab Emirates, 26th February 2013 – Majid Al Futtaim Fashion, the retail arm of Majid Al Futtaim Ventures, has announced a Joint Ventures agreement with the leading American retailer and casual wear clothing brand, Abercrombie & Fitch Co. (A&F), with respect to its Hollister brand. The agreement is to develop Hollister’s presence within the UAE, further supporting the brand’s international growth.
“We are very excited about the Hollister joint venture and the growth potential for both the Abercrombie & Fitch and Hollister brands in the region,” said Ahmed Galal Ismail, CEO Majid Al Futtaim Ventures. “We believe that the Hollister joint venture, and the Abercrombie & Fitch joint venture that should soon follow, cement Majid Al Futtaim Fashion’s longstanding reputation as a strategic partner for the some of the world’s best brands.”
The first Hollister store is scheduled to open in Dubai in 2013. Abercrombie & Fitch Co. and Majid Al Futtaim Fashion are also working toward a parallel joint venture agreement with respect to their Abercrombie & Fitch brand with the goal of opening an Abercrombie & Fitch flagship store in 2014.
“Majid Al Futtaim Fashion is delighted to be the UAE partner for Hollister, an iconic American brand, and looking forward to being the partner for Abercrombie & Fitch Co., a highly anticipated and iconic American brand. Both the Hollister and Abercrombie & Fitch brands will be strong strategic fits underpinned by the region’s large demographic of young, brand conscious consumers,” said Asil Attar, CEO of Majid Al Futtaim Fashion. “For Hollister and hopefully soon for Abercrombie & Fitch, Majid Al Futtaim Fashion will oversee the targeted rollout of the brands’ lifestyle concepts with the UAE, bringing the company’s brands to the Middle East for the first time. We are committed to ensuring that the brands remain true to form.”
As Abercrombie & Fitch Co.’s first physical foray into the Middle East, the landmark joint venture partnership with Majid Al Futtaim Fashion should significantly broaden A&F’s regional potential across the GCC further adding to the region’s offering of exceptional market leading International brands.
Majid Al Futtaim Fashion has demonstrated a detailed understanding and working knowledge of the region’s ever changing retail landscape and shopping habits of the Middle East’s young, modern consumer and tourism potential. Majid Al Futtaim Fashion will leverage these insights to identify key areas of opportunity for A&F’s brand’s highly successful growth and International development strategy.
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About Majid Al Futtaim Fashion:
Majid Al Futtaim Fashion is one of the subsidiaries of Majid Al Futtaim Ventures. It currently operates a number of leading fashion brands throughout the GCC & Levant region including Juicy Couture, HOSS Intropia, Jane Norman and Mexx, with the newest edition to its portfolio being IT’SUGAR.
About Abercrombie & Fitch Co.
Abercrombie & Fitch Co. is an American retailer and lifestyle brand that specializes in casual fashion for the modern young adult. At the end of Fiscal 2012, A&F operated a total of 1,051 stores. The Company operated 266 Abercrombie & Fitch stores, 144 abercrombie kids stores, 482 Hollister Co. stores and 20 Gilly Hicks stores in the United States. A&F operated 19 Abercrombie & Fitch stores, six abercrombie kids stores, 107 Hollister Co. stores and seven Gilly Hicks stores internationally. A&F operates e-commerce websites at www.abercrombie.com, www.abercrombiekids.com, www.hollisterco.com and www.gillyhicks.com.
For more information on Majid Al Futtaim Fashion, please contact The Portsmouth Group at: 04 369 3575 or email: email@example.com or firstname.lastname@example.org