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UK retailers pursue profitable Middle East
| Published: | 17 May at 6 PM |
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As reported by The Telegraph, UK businesses are dashing to establish new retail stores in the Middle East, in an effort to escape weak sales at home and cater to a rising expat community.
The most recent shopping chain to venture into the region is M&Co (a Scottish fashion retailer), which has nearly 300 stores in the UK. It is planning to launch outlets in Dubai as well as across the Gulf.
Lee Braid, who works as international franchise manager with M&Co, says there are expats who know the brand and want to shop at the new stores. He also expects tourists to shop at the stores, but the most important group will be the local customer, he said.
The group is planning to open twelve stores in the United Arab Emirates during the next five years and thirty around Saudi Arabia, Bahrain, Oman and Kuwait.
M&Co is the most recent British retailer to enter the Middle East, seeking new markets to explore while domestic demand is seeing a squeeze due to austerity measures.
Earlier in the year, both Tesco and Asda, the UK’s biggest supermarket chains, said they would establish their low-cost fashion brands throughout the Gulf.
Asda has struck a franchise deal with a firm based in Lebanon to take its George clothing brand to the Middle East.
Competitor Tesco has also signed a deal with Saudi Arabia's biggest shopping mall proprietors, and will be pushing its F&F clothing brand into an international fashion brand.
The most recent shopping chain to venture into the region is M&Co (a Scottish fashion retailer), which has nearly 300 stores in the UK. It is planning to launch outlets in Dubai as well as across the Gulf.
Lee Braid, who works as international franchise manager with M&Co, says there are expats who know the brand and want to shop at the new stores. He also expects tourists to shop at the stores, but the most important group will be the local customer, he said.
The group is planning to open twelve stores in the United Arab Emirates during the next five years and thirty around Saudi Arabia, Bahrain, Oman and Kuwait.
M&Co is the most recent British retailer to enter the Middle East, seeking new markets to explore while domestic demand is seeing a squeeze due to austerity measures.
Earlier in the year, both Tesco and Asda, the UK’s biggest supermarket chains, said they would establish their low-cost fashion brands throughout the Gulf.
Asda has struck a franchise deal with a firm based in Lebanon to take its George clothing brand to the Middle East.
Competitor Tesco has also signed a deal with Saudi Arabia's biggest shopping mall proprietors, and will be pushing its F&F clothing brand into an international fashion brand.
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