UAE-based off-price retailer Brands for Less (BFL Group) has denied reports of selling a minority stake in the business to investors.
An official statement by BFL Group reads: “We are aware that there have been recent press articles speculating that Brands for Less Holdings Limited (“BFL” or the “Company”) is considering selling a minority stake in the business. While the Company, on an ongoing basis, reviews its options to further enhance growth, customer reach and customer service; there are no current plans for a sale of shares in the Company to third parties or through an Initial Public Offering to investors.”
With its brand portfolio including Brands for Less, Toys for Less, Beauty for Less, Luxury for Less, Homes for Less, Muy Mucho, Tchibo and Mumuso, BFL Group currently operates over 80 stores across the GCC and Europe, coupled with a robust online presence.
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