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Davies enters into JV with Saudi retail group
02 Dec '10
1 min read
UK-based fashion entrepreneur – George Davies has come out of the distress caused as a result of the extremely low sales at his GIVe women's apparel chain, and is now back with a fresh children's wear as well as young fashion stores in Middle East.
Davies has partnered with Saudi retail group, Fawaz Alhokair, to start 100 outlets in the Middle East. Davies had decided to close his standalone GIVe outlets.
He intends to start 65 children's wear outlets and 35 young fashion outlets in Middle East, mostly in Saudi Arabia, from early 2011.
Towards the beginning of this year when the GIVe standalone outlets were struggling to continue their existence, Fawaz had contacted Davies.
GIVe had been launched during October 2009 and it was doing good business till last Christmas but since then the business worsened, which may be attributed to the ongoing economic insecurity.
Davies has partnered with Saudi retail group, Fawaz Alhokair, to start 100 outlets in the Middle East. Davies had decided to close his standalone GIVe outlets.
He intends to start 65 children's wear outlets and 35 young fashion outlets in Middle East, mostly in Saudi Arabia, from early 2011.
Towards the beginning of this year when the GIVe standalone outlets were struggling to continue their existence, Fawaz had contacted Davies.
GIVe had been launched during October 2009 and it was doing good business till last Christmas but since then the business worsened, which may be attributed to the ongoing economic insecurity.
Fibre2fashion News Desk-India
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