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Alhokair Fashion Retail plans Central Asian expansion
29
Oct '11
Saudi Arabia-based Alhokair Fashion Retail is planning to expand to Central Asian countries and intends to capture 75 percent of the middle retail segment in those countries.

Speaking at the InRetail Summit in Dubai, Simon Marshall, CEO of the firm, said the company plans to open 350 to 400 stores in Kazakhstan, Belarus, Azerbaijan, Georgia and Armenia during the next three years.

He predicted that by the end of current year, Alhokair is expected to be valued at 3.8 billion Saudi riyals, which will grow to 9 billion riyals by the end of the three-year expansion period.

The retail conglomerate has more than 80 international brands in its portfolio and it currently owns 50 percent of the middle retail segment in Saudi Arabia.

The CEO said Alhokair has chosen Central Asian countries for its expansion as it believes that these countries are truly emerging.

Fibre2fashion News Desk - India

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