UAE-based retail conglomerate Al Tayer Insignia has formed a joint venture with German luxury brand MCM Worldwide, marking the latter’s direct entry to the UAE market. As part of the joint venture, a new MCM flagship store will open at The Dubai Mall’s Fashion Avenue in March 2020.
“We are excited about our partnership with MCM. The joint venture will set the platform for the continued growth of MCM in the region by enhancing its customer proposition,” said Khalid Al Tayer, managing director, Al Tayer Insignia.”
“We are delighted to take an important step further into the UAE market through this partnership with Al Tayer Insignia. Over the past years, MCM has established a strong presence in the region and we feel that it is now time to further enhance it, by introducing a new omnichannel approach and heavily expand our online presence in the region,” added Eric Erhardt, president of MCM EMEA.
MCM forayed into the UAE in 2012, and since then has established presence in Saudi Arabia, Kuwait, Qatar, Bahrain and Egypt with flagship stores and shop-in-shops. The brand has also built a successful partnership with Al Tayer’s online arm, Ounass.