Basicxx to open 50 value fashion stores is KSA


June 8, 2014 | By RetailME Bureau

Kuwait-based fashion, lifestyle and home ware retailer Basicxx, owned by Al Yasra group, has announced plans to open 50 value fashion stores across the Kingdom with an investment of $107 million. The plan was unveiled by Mohammed Yusuf Al-Sagar, chairman, Basicxx, during the inauguration of the first Basicxx big-box store at the upscale Riyadh Gallery on King Fahd Street in Riyadh. It was followed by stores at Aziz Mall and Salaam Mall in Jeddah.

“The Kingdom’s retail sector has been witnessing sustained growth in the last few years, even outperforming the other major sectors by a significant margin. Against this backdrop, Basicxx has finalised ambitious plans to open new stores at strategic locations within a short period of time,” says Al-Sagar, pledging to hire more young Saudi nationals, who will be deployed after training to man Basicxx fashion and house ware stores across the country.

“The Basicxx fashion chain is planning to open 10 more stores in Saudi Arabia before the holy month of Ramadan. The move is mainly aimed at attaining a leadership position in the domestic retail market,” says Mohammed Adil, CEO of Basicxx. “It is the first fashion store of its kind, which will source and display the latest fashion trends within 30 days of their launch in Europe, the US and rest of the world,” he adds.

Comments

comments

Previous Article Next Article

SHARE

YOU MAY ALSO LIKE /


Carrefour onboards female-led start-up The Zola Collective

Carrefour, which is owned and operated by Majid Al Futtaim in the 

Continue Reading

January 31, 2023 | By RetailME Bureau
A new branch of Waitrose comes up in Abu Dhabi’s Khalifa City

British grocer Waitrose has opened its newest store in Abu Dhabi’s Khalifa 

Continue Reading

January 25, 2023 | By RetailME Bureau
Its Netherlands Food Week at Al Maya Supermarkets

UAE-based Al Maya Supermarkets has kicked off its ‘Netherlands Food Week’ that 

Continue Reading

January 20, 2023 | By RetailME Bureau
Tesco announces price lock to support consumers amid inflation (PC: Andrew Parsons / Parsons Media)

British grocery retail chain Tesco has announced a price lock on over 

Continue Reading

January 13, 2023 | By RetailME Bureau
Union Coop renews ISO certification

Dubai-based grocery retailer Union Coop has successfully obtained the ISO 22301, an 

Continue Reading

January 12, 2023 | By RetailME Bureau
Spanish supermarket chain Mercadona announces salary increase amid inflation (PC: Mercadona)

Spanish omnichannel supermarket chain Mercadona has announced salary increase amid inflation that 

Continue Reading

January 3, 2023 | By RetailME Bureau
Choithrams partners with Rove Hotels to open 8 new outlets

Grocery retail chain Choithrams will open eight convenience stores across Rove Hotels’ 

Continue Reading

December 30, 2022 | By RetailME Bureau
Géant to open more than 20 stores in the UAE in 2023

Part of regional retail conglomerate GMG, Géant plans to open more than 

Continue Reading

December 23, 2022 | By RetailME Bureau
FMCG online sales growing by 68% in UAE and 58% in KSA

Online share in FMCG sales has been growing all over the world, 

Continue Reading

December 19, 2022 | By RetailME Bureau
Majid Al Futtaim Retail, Standard Chartered launch region’s first Sustainable Supply Chain Finance Programme

Majid Al Futtaim Retail, operator of the Carrefour franchise in the Middle 

Continue Reading

December 15, 2022 | By RetailME Bureau
GMG and Silal partner to support 1,100 UAE farms access local retail market

UAE-based diversified conglomerate GMG and Silal have signed a memorandum of understanding 

Continue Reading

December 12, 2022 | By RetailME Bureau
Lulu Group partners with Amazon expanding grocery offerings to online customers in the UAE

Abu Dhabi based grocery retail chain Lulu Group has partnered with Amazon 

Continue Reading

November 24, 2022 | By RetailME Bureau




f
Download Images RetailME Magazine