BinHendi Group records rise in retail sales in 2013

RetailME Bureau

The BinHendi Group recorded a 7-to-9% increase in retail sales in 2013. The BinHendi Group’s portfolio includes retail brands Hugo Boss, Brioni and Billionaire, among others. The group said it is benefiting from an improving economy, which continues to bounce back from the 2008/09 financial crisis.

The BinHendi Group will continue to expand this year, introducing a couple of new brands in lifestyle and clothing, says Mohi-Din BinHendi, the group’s president and chairman. He said the company will significantly invest in its restaurants as part of a refurbishment plan and will raise capital needed for investments from international and local banks.

On the prospects of an initial public offering, BinHendi said there was no chance of that happening. He said he preferred to stay a privately owned company.