UAE-based retail conglomerate Apparel Group has announced a joint venture (JV) with American fashion footwear brand Steve Madden. With this JV Apparel Group aims to significantly expand Steve Madden’s footprint in the GCC, Africa, Egypt, Türkiye and CIS countries.
Commenting on the JV Neeraj Teckchandani, CEO of Apparel Group said, “Apparel Group’s philosophy has always been to be associated with the leading international brands with the vision to ensure, increase and solidify their commercial status on a global scale. Continuing Apparel Group’s commitment to providing an elevated shopping experience to our loyal customers, we are proud to be partnering up with Steve Madden and further expanding our strong retail footprint in the GCC region.”
Currently, Steve Madden has 11 stores in the UAE and 21 stores throughout the GCC region. To reinforce its commitment, Apparel Group plans to open 13 new Steve Madden stores in 2023. Over the next five years, Apparel Group aims to open 50 Steve Madden stores and launch an online platform (stevemadden.me) in the GCC to provide customers with an omnichannel experience.
“Since entering the GCC market over 10 years ago, we have experienced significant growth in our business. Given the importance of this critical market for our consumer and brand, we are pleased to be entering into a joint venture agreement with best-in-class partners, Apparel Group, and look forward to continued growth in the region as we capitalise on our strong momentum,” added Ian Funk, President of International, Steven Madden, Ltd.
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