Tuesday, Oct 20, 2009

Gulf News

Al AqiliAl Aqili to invest Dh100m in rolling out 20 Laura Ashley stores in the GCC

Laura Ashley opens third store

Dubai After acquiring the master franchise of Laura Ashley, Dubai-based business conglomerate Al Aqili GroupAl Aqili Group is investing Dh100 million to roll out 20 stores in the GCC, a top company official said.

The group which employs 2,500 people and has an annual turnover of Dh3 billion, yesterday opened the Laura Ashley Home in Mercato Mall, the chain's third branch in the UAE.

While many companies are reducing operations due to the economic downturn, Al Aqili GroupAl Aqili Group — a family-owned business — is expanding.

There are opportunities even in the economic downturn, from which the company is trying to benefit.

"Obviously, we have to take advantage of any economic opportunities and I'm optimistic that the current economic situation will not continue for long," Mohammad Saeed Al AqiliAl Aqili, Vice-Chairman and Chief Executive, told Gulf News.

Growth signs

"I'm optimistic and there are signs of growth in the retail sector."

The company is also in the process of signing up with a number of global brands to expand in the GCC.

Abhay Nadkarni, Al AqiliAl Aqili's executive director for marketing and commercial, said the group is looking at having at least 100 stores across the GCC with the new international brands.

"Once the rollout is complete, we are looking at having Dh800 million in annual revenue from these new stores," he said.

"We will have by then more than 300 people working in these stores. Yes, we are hiring people in the retail division.

"The entry of Laura Ashley Home comes at a time of improvement in market sentiment and an upturn in spending. We have seen increased activity in re-location of homes within the emirate, as well as new expatriate families coming in at the upper end of the market," Nadkarni added.

This will undoubtedly lead to stimulation of demand for quality home furnishings and interiors.

"Despite the fluctuations in the retail market in general, the Laura Ashley brand has been enthusiastically welcomed and enjoys popular consumer franchise. The addition of the home decor range will further strengthen the brand's presence in the region," he said.

Al Aqili GroupAl Aqili Group's operations and investments spread across the UAE, GCC countries, Iraq, India, Jordan and others. It has partnerships with multinational brands including Reckitt Benckiser, Jergens, Panasonic, Energizer, Americana Food Products, California Garden, Savola, Gulfa, Supermax and many others.

laura ashley

lifestyle brand

Laura Ashley is a quintessential English brand. The story of the brand starts from Laura Ashley herself, born in 1925 in humble beginnings in Wales and to her success in becoming a hugely influential designer of clothes and fabrics.

Laura Ashley and husband Bernard conceived the brand at a kitchen table in their home in Pimlico. The first batch was headscarves, table mats and napkins and the first Laura Ashley factory was opened in an old house in Kent. Over the years, Laura Ashley has grown into a lifestyle brand known and respected throughout the world. The brand is both classic and contemporary. Building on a 50-year heritage of creativity, Laura Ashley collections are kept contemporary by refreshing the colour palettes, unique designs and patterns, innovative fabrics, textures and blends.

By Saifur Rahman, Business Editor

© Gulf News 2009. All rights reserved.

 

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