Alhokair, Saudi retailer is planning to open 400 new stores within the next two years.
Alhokair, Saudi retailer is planning to open 400 new stores within the next two years. The planned expansion will be both for domestic as well as international market. Alhokair has 75 franchisees in the Middle East and 1,300 stores across the globe. The company is focusing majorly on emerging markets and expecting foreign sales to grow by 30 per cent next year with new stores. Also, the company operates in Jordan, Egypt, Morocco and Kazakhstan, and plans to expand into Commonwealth of Independent States (CIS) countries. Alhokair's has many well known international franchise brands in its portfolio such as Zara, Marks & Spencer's, Gap, Aldo, Monsoon, Accessorize and Topshop. The company had previously announced entering into a joint venture (JV) arrangement with British luxury goods brand ‘Burberry’. Alhokair will hold a 40 per cent stake in the Riyadh-based JV and sell the Burberry products.