The Children's Place Retail Stores, Inc., the largest pure-play children's specialty apparel retailer in North America, announced that it has expanded its existing franchise agreement with Fawaz A. AlHokair & Co. SJSC, known as "Fashion Retail", covering retail stores in Saudi Arabia, to include opening a total of approximately 25 stores in Egypt and the Commonwealth of Independent States (C.I.S. Region) of Armenia, Azerbaijan, Belarus, Georgia and Kazakhstan, beginning in mid-2014.
Jane Elfers, President and Chief Executive Officer of The Children's Place, stated, "After the successful openings of more than 20 stores in Saudi Arabia with Fawaz A. AlHokair & Co. SJSC, we are excited to expand our international footprint with them in Egypt and the C.I.S. Region, where they have a proven track record of successfully launching and operating major international brands."
Commenting on the launch, Mr. Simon Marshall, Chief Executive Officer of Fawaz A. AlHokair & Co. SJSC, stated, "We were privileged to be the first franchise partner for The Children's Place, and we embrace the opportunity to further enhance and extend our already successful relationship, and to make The Children's Place brand available to additional consumers who appreciate high quality, trend-right fashion at great values."
About The Children's Place Retail Stores, Inc.
The Children's Place is the largest pure-play children's specialty apparel retailer in North America. The Company designs, contracts to manufacture and sells fashionable, high-quality merchandise at value prices, primarily under the proprietary "The Children's Place," "Place" and "Baby Place" brand names.