Dubai-based Al Ghurair Investment plans to expand its retail business in the region over the next three years, according to the group’s newly appointed chief executive, Adil Toubia.
The group currently has six retail brands, including the new additions to its portfolio: UK-based Boux Avenue Lingerie, French clothing brand Morgandetoi, and Prenatal, which sells clothing, accessories, toys and toiletries for mothers and children.
“We want to grow the six brands first within the UAE and the GCC,” says Toubia.
He declined to say the number of brands the group wants to introduce in the region, and the size of the investment for the expansion. Al Ghurair Investment plans to bring fashion and food and beverage brands that are new to the region, and possibly its “own ideas”, he says.
“We’re focusing on high-quality, affordable fashion. We’re not trying to target the top tier of the market because we feel that segment is fairly well represented in the UAE and even in the GCC,” he says.
Al Ghurair Investment operates in a range of sectors, including retail, construction, property, energy, food, education and publishing. The company aims to consolidate its businesses in the coming years.
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