Dubai-based Abughazaleh Abco Group, a wholesale distributor and manufacturer of clothes, shoes and fashion accessories, is planning to invest $27.23 million to open 30 stores in the region over the next five years.
“Starting from 2015 the group aims to increase the total number of stores to 35 by 2020, ahead of Expo 2020. We opened four stores in the past two years. The new plan is to launch six stores per year on an average,” reveals Midhat Abu Ghazaleh, Abco’s chief executive.
“Our operations span a large geographic territory, including the Middle East where the trading sector is witnessing a boom. We have ambitious plans for the coming period, with a focus on the UAE as a gateway to the entire region.”
Abco is one of the main suppliers for Carrefour, Geant and Hyperpanda operating across the GCC and MENA region. The company also operates in South Africa, South East Asia, Eastern Europe and Russia.