Majid Al Futtaim Lifestyle strengthens its footprint in the luxury home category with Poltrona Frau partnership


January 25, 2023 | By Anurima Das

Majid Al Futtaim, a leader in fashion, shopping mall, communities, and leisure segment across the Middle East, Africa, and Asia, has announced a strategic partnership with Poltrona Frau, the century-old luxury Italian furniture brand renowned for setting the global standard in leather interiors.

 As part of the agreement, Majid Al Futtaim Lifestyle has acquired the rights to Poltrona Frau products in the UAE, marking its first entry into the Luxury Home category, and pivoting the iconic Italian brand to a new era of growth across the Middle East. Poltrona Frau’s worldwide expansion strategies have seen the brand become an internationally influential benchmark, boasting 15 flagship stores, 165 single-brand stores and around 280 multibrand stores across the five continents. Continuing on its success, Poltrona Frau saw a 20% growth in revenue in 2022, compared to 2021, due to a strong increase within the brand’s residential unit and a strong recovery of public projects.

As part of Majid Al Futtaim Lifestyle’s expansion plans for Poltrona Frau, the Company will bring the legacy of Italian excellence to some of the best shopping destinations in the region, including the opening of a Poltrona Frau flagship showroom in Mall of the Emirates later this year. In addition, the brand’s existing Jumeirah store will be expanded and transformed, inspired by the iconic Poltrona Frau Via Manzoni showroom.

 With the group highly focused on leveraging technology to automate and make retail processes agile, Fahed Ghanim, Chief Executive Officer of Majid Al Futtaim Lifestyle, mentioned “We already have a lot of AI and advanced analysis built in our backend that helps us predict the market and understand customer behaviour better. This helps us revolutionise our brand’s presence even within the luxury segment. While we admit that store front rules when it comes to luxury, but we will leverage AR/VR and eventually connect the Poltrona Frau offline stores to an online store to further enhance the customer experience.”

 An omnichannel approach is what the group is aiming to achieve with Poltrono Frau’s retail footprint and is robust about 30% of the brand’s sale attributing to retail as compared to bespoke orders. Founded in 1912 in Turin (Italy), Poltrona Frau has given more than a century of life and culture to leather, meticulously following an industry-leading 21-step tanning process to create timeless pieces which express universal yet personal elegance and stand out for their savoir-faire. The brand’s leadership in the global leather industry led to the coinage of the term Poltrona Frau Leathership® and its exquisite craftsmanship adorns some of the world’s iconic museums, hotels, theatres, embassies, travel lounges, airline interiors as well as the bespoke upholstery of automotive giants such as Ferrari, Maserati, Alfa Romeo, Land Rover, to name just a few.

 Nicola Coropulis, Chief Executive Officer of Poltrona Frau said: “The partnership with Majid Al Futtaim is the first step of a journey that aims to cement Poltrona Frau as the ultimate luxury lifestyle brand in the UAE, and the Middle East, and provide the most elite customers with exclusive solutions for their homes, offices and public spaces based on excellent quality and service. We believe Majid Al Futtaim Lifestyle’s vast ecosystem and its ability to interpret the true spirit of a brand and, ultimately, their people, will help elevate Poltrona Frau to the next level and accelerate our growth strategy across the region.”

 The expansion of Majid Al Futtaim Lifestyle compliments the group’s existing portfolio, which includes eight leading franchise brands, two homegrown brands and more than 70 stores across the GCC spanning fashion, home, multi-brand, specialty retail and beauty, as well as 18 online platforms. Over the past five years, Majid Al Futtaim Lifestyle has refreshed its portfolio strategy and the business has hit countless milestones, including recording year-on-year, double-digit growth and registering more than US $217 million in sales in 2022 alone. With the new brand acquisition and an ambitious plan for 2023, Majid Al Futtaim Lifestyle is now well- positioned to address future demands by leveraging its growing portfolio and multi-channel capabilities.

 

Previous Article Next Article

SHARE


TRENDS


CEOs Conclave at SRF 2023

CEO’s Agenda: Unlocking the Treasure Chest of Retail Opportunities

Finding the treasure chest of opportunities needs years of journeying through the 

Continue Reading

January 19, 2024 | By RetailME Bureau
Culinary Playbook panel discussion at SRF 2023

Culinary playbook: On a gastronomic adventure

How is the food service industry in the Kingdom of Saudi Arabia 

Continue Reading

January 18, 2024 | By RetailME Bureau




YOU MAY ALSO LIKE /


Dr. Dhananjay Datar Chairman & Managing Director ADIL Trading Co. LLC

Dr. Dhananjay Datar Chairman & Managing Director ADIL Trading Co. LLC holds 

Continue Reading

February 29, 2024 | By Rupkatha B
Hani Weiss, Chief Executive Officer, Majid Al Futtaim Retail

In 1995 regional retail conglomerate Majid Al Futtaim introduced Carrefour to the 

Continue Reading

February 26, 2024 | By RetailME Bureau
Prashant Parameswaran, Managing Director and Chief Executive Officer of Tata Consumer Soulfull

Tata Soulfull, a leading name in the ‘good-for-you’ snacks and breakfast cereals 

Continue Reading

February 22, 2024 | By Rupkatha B
Jean-Luc Graziato, Chief Commercial Officer of Majid Al Futtaim – Retail and Alia Al Harmoodi, Acting CEO of the Environment, Health and Safety Agency

Majid Al Futtaim – Retail, which holds the exclusive franchise to operate 

Continue Reading

February 20, 2024 | By RetailME Bureau
Krishna Dhanak, Managing Director, Alpen Capital

In an exclusive interview Krishna Dhanak, Managing Director, Alpen Capital shared insights 

Continue Reading

February 19, 2024 | By Rupkatha B
Majed M. Al-Tahan, Co-founder & Managing Director, Danube Online

As digital transformation across the retail industry continues to accelerate, the expectations 

Continue Reading

December 19, 2023 | By RetailME Bureau
Frederic Levy-Perrault, CEO, Al Raya Supermarket

Saudi Arabia-based grocery retail chain Al Raya Supermarket serves over 100,000 customers 

Continue Reading

December 15, 2023 | By RetailME Bureau
Ahmad AR. BinDawood, Chief Executive Officer, BinDawood Holding

BinDawood Holding has a rich Saudi heritage, spanning over 50 years, 38 

Continue Reading

December 13, 2023 | By RetailME Bureau
Majid Al Futtaim Retail commits to Collaborative Impact Goals at COP28

Majid Al Futtaim Retail, which owns the exclusive rights to operate Carrefour 

Continue Reading

December 8, 2023 | By Rupkatha B
BinDawood Holding Company earns Honorary Shield for Compliance Excellence

BinDawood Holding Company has earned an Honorary Shield, a distinguished recognition by 

Continue Reading

December 6, 2023 | By RetailME Bureau
First Movers Coalition for Food to create up to $20-bn value chain for sustainable farming

The World Economic Forum, with support from the Government of the United 

Continue Reading

December 5, 2023 | By RetailME Bureau
Food consumption in the GCC to grow at a steady pace

Food consumption in the GCC is set to grow at a CAGR 

Continue Reading

November 29, 2023 | By RetailME Bureau




Download Images RetailME Magazine