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Frederick's of Hollywood arrives to Middle Eastern countries
16 Mar '11
2 min read
Frederick's of Hollywood Group Inc announced that it has entered into an exclusive multi-year licensing agreement with Abu Dhabi-based Emirates Associated Business Group (EABG) to build and operate Frederick's of Hollywood retail stores in the Middle East.
The agreement provides for EABG to open at least 10 Frederick's of Hollywood retail stores in six Middle Eastern countries over the next three years, with additional store openings based on a mutually agreed upon expansion plan. In addition, a flagship store in Abu Dhabi is scheduled to open in April 2011.
Thomas Lynch, Chairman and Chief Executive Officer of Frederick's of Hollywood Group Inc., stated, "Frederick's of Hollywood is known as a fun, sexy brand for women around the world; however, we currently only sell our products in North America.
The agreement with EABG to open stores in multiple Middle Eastern countries is an exciting first step for Frederick's of Hollywood in our strategy to extend our customer reach to new parts of the world. By utilizing licensing agreements to enter new geographic markets, we can cost effectively and quickly grow our business, while also benefiting from our partners' knowledge, presence and experience in these new retail environments."
Raid Abu Hudra, Chief Executive Officer of EABG, stated, "We believe that the Frederick's of Hollywood brand's fun and luxurious image will successfully carry over to the Middle East and will be a hit among young Middle Eastern women. As such, we have an aggressive strategy in place to open Frederick's of Hollywood retail stores across the area, with our flagship retail location slated to open in Abu Dhabi next month. We are looking forward to a long and successful partnership with Frederick's of Hollywood."
The agreement provides for EABG to open at least 10 Frederick's of Hollywood retail stores in six Middle Eastern countries over the next three years, with additional store openings based on a mutually agreed upon expansion plan. In addition, a flagship store in Abu Dhabi is scheduled to open in April 2011.
Thomas Lynch, Chairman and Chief Executive Officer of Frederick's of Hollywood Group Inc., stated, "Frederick's of Hollywood is known as a fun, sexy brand for women around the world; however, we currently only sell our products in North America.
The agreement with EABG to open stores in multiple Middle Eastern countries is an exciting first step for Frederick's of Hollywood in our strategy to extend our customer reach to new parts of the world. By utilizing licensing agreements to enter new geographic markets, we can cost effectively and quickly grow our business, while also benefiting from our partners' knowledge, presence and experience in these new retail environments."
Raid Abu Hudra, Chief Executive Officer of EABG, stated, "We believe that the Frederick's of Hollywood brand's fun and luxurious image will successfully carry over to the Middle East and will be a hit among young Middle Eastern women. As such, we have an aggressive strategy in place to open Frederick's of Hollywood retail stores across the area, with our flagship retail location slated to open in Abu Dhabi next month. We are looking forward to a long and successful partnership with Frederick's of Hollywood."
Frederick's of Hollywood Group Inc
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