As part of its global expansion, Italian luxury menswear label Ermenegildo Zegna has signed a joint venture with the UAE's Al Tayer Group for the operation of its boutiques and other points of sale across the Emirates,a Dubai-based business website has reported.
To celebrate the Al Tayer Group partnership, Ermenegildo Zegna has just opened a flagship 354 metre luxury retail space in Mall of the Emirates and is planning to open another outlet in The Dubai Mall by 2017.
The 105-year-old Italian brand currently operates 525 stores worldwide, of which 298 are directly owned, and has points of sale in department stores such as Harvey Nichols, Bloomingdale's and Galeries Lafayette, but Zegna admits its direct sales in the UAE are small.
UAE retail giant Al Tayer Group, established in 1979, with its headquarters in Dubai, operates over 200 stores across the six Persian Gulf countries and manages a stable of 35 luxury brands, including Alexander McQueen, Boucheron, Bottega Veneta, Dolce & Gabbana, Emilio Pucci, Giorgio Armani and Jimmy Choo. It is also responsible for opening and operating the largest Harvey Nichols department store outside the UK as well as the first Bloomingdale's stores outside the US, with Macy's set to be introduced to the region in Abu Dhabi in 2018.
Al Tayer Group says it s not interested in buying stakes in international fashion brands and is instead focused on developing partnerships with luxury labels and managing their introduction to the Gulf.
Khalid Al Tayer, CEO of the retail business of Al Tayer told the website that the Group is an operator and not an investor in fashion labels. He said they have created a platform to work as operators and would be delighted to work with great partners like Zegna.
Ermenegildo Zegna CEO Gildo Zegna said the joint venture with Al Tayer is part of a long term strategy to go directly to a key market like the Dubai. (SH)
Fibre2Fashion News Desk – India