Weekly Retail: Blooming Sales & Growth Strategies in the GCC

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Here is what is happening in the world of retail in the Gulf!

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Dubai Summer Surprises Commence With 12-Hour Sale

The Majid Al Futtaim shopping malls in Dubai will initiate a 12-hour retail event featuring a substantial 90% discount on June 29, commencing at 10 am and concluding at 10 pm. This promotional endeavor is an integral component of the Dubai Summer Surprises (DSS), an annual festival orchestrated by the Dubai Festivals and Retail Establishment (DFRE). According to the DFRE, customers are encouraged to strategically plan their attendance to maximize the advantages offered by the sales, which will be accessible at Mall of the Emirates, City Centre Mirdif, City Centre Deira, City Centre Me‘aisem, and City Center Al Shindagha. The DSS is renowned for its diverse assortment of attractions, encompassing live concerts, raffles, as well as alluring incentives for dining and shopping experiences. This year, the DSS will span from June 29 to September 3.

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Skechers Plans On Expanding GCC Footprint

Apparel Group has outlined plans to facilitate the rapid growth of its footwear brand, Skechers, throughout the Gulf Cooperation Council (GCC) region. This strategic initiative underscores the organization's commitment to expanding its market presence within this dynamic and evolving sector. Neeraj Teckchandani, the CEO of Apparel Group, stated that their efforts to enhance customer experiences align with their strategic decision to amplify Skechers' footprint in the GCC. The group is making investments in key markets that exhibit substantial potential for growth. The expansion of Skechers commenced with the inauguration of the first store in the series, spanning 2,588 square feet, in Al Khiran, Kuwait on May 30, 2023. This was followed by the opening of another Skechers store at Najran Park Mall in Najran, Saudi Arabia on June 8, 2023. The expansion efforts of Skechers also extend to Bahrain and Oman. In the current month, a store is scheduled to launch in Bahrain at Enma Mall, with another opening planned at Salalah Grand Mall later in the same month.

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Etoile Group Has Formulated a Strategic Objective To Achieve a Twofold Revenue Increase

In commemoration of its 40th anniversary, Etoile Group, a luxury retailer based in the UAE, has recently unveiled plans to achieve strategic growth by doubling its revenues over the next five years, alongside the introduction of its new brand identity.As part of its growth strategy within the next 24 months, the organization intends to expand its portfolio through the establishment of new boutiques in both new and existing locations. This includes the launch of boutiques in Saudi Arabia, Bahrain, and Kuwait, as well as the reopening of boutiques in Lebanon.The Group, currently engaged in 60 ongoing or planned projects, also aspires to double its workforce within the next five years. Since introducing the first Chanel boutique to the GCC region in 1983, the Group has expanded its operations across six Gulf and Levant markets. It collaborates with renowned luxury labels, including Chanel, Valentino, Etro, Aquazzura, Ralph Lauren, Tod's, Yamamay, and Hogan.

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Retail Sales In Saudi Arabia To Bloom

The Saudi Fashion Commission's report, "The State of Fashion in the Kingdom of Saudi Arabia," projects a 48% surge in retail fashion sales, reaching $32 billion by 2025. Annual growth rates of 13% and 19% are anticipated for the overall market and luxury retail, respectively. Saudi Arabia's fashion industry is poised for significant gains due to economic expansion, population growth, and favorable consumer preferences. The report highlights Saudi Arabia as having the highest projected growth rates among large, high-income markets. Sports apparel is a particularly fast-growing category, with sales expected to increase by 21% by 2027. Laure Heriard Dubreuil, Founder and CEO of The Webster, acknowledged the remarkable transformation of Saudi Arabia's role in the fashion industry in recent years. The shift from a primarily domestic-focused market to one that actively participates on the global stage reflects a clear commitment to investing in the industry.

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Dubai International Airport Now Hosts Pangaia

Sustainable fashion brand PANGAIA has made its entry into the travel retail sector with the launch of a store at Dubai International Airport. This strategic move comes as a result of collaborations between PANGAIA, Lagardère Travel Retail, and Dubai Airports. The founder of PANGAIA, Mira Duma, expressed gratitude for the support of their partners, enabling them to create an immersive experience that reconnects travelers with nature and encourages responsible production and consumption. The store offers a range of plant-based activewear and nature-powered products. For Lagardère Travel Retail, this partnership expands their presence in Dubai International Airport, extending beyond food and beverage outlets to include retail offerings.