Dubai, United Arab Emirates: Majid Al Futtaim, the leading retail, shopping mall, communities, and leisure pioneer 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.
Commenting on the partnership, Fahed Ghanim, Chief Executive Officer of Majid Al Futtaim Lifestyle, said: “We are thrilled to welcome Poltrona Frau’s Italian masterpieces into Majid Al Futtaim Lifestyle’s burgeoning collection of world class international brands. This partnership supports our geographical and brand expansion strategy at a time of recording year-on-year double digit growth and is designed to accelerate Majid Al Futtaim Lifestyle’s journey of transforming the customer experience in the region. At Majid Al Futtaim, we continuously seek unique diversification opportunities that complement our existing portfolio with brands that require their own distinct strategies. The Poltrona Frau partnership is a testimony to that pioneering spirit and we look forward to a fascinating journey ahead as we build the brand’s presence in the market.”
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.
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.
About Majid Al Futtaim
Founded in 1992, Majid Al Futtaim is the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia. A remarkable business success story, Majid Al Futtaim started from one man’s vision to transform the face of shopping, entertainment and leisure to ‘create great moments for everyone, every day’. It has since grown into one of the United Arab Emirates’ most respected and successful businesses spanning 17 international markets, employing more than 41,000 people, and obtaining the highest credit rating (BBB) among privately held corporates in the region.
Majid Al Futtaim owns and operates 29 shopping malls, 13 hotels and four mixed-use communities, with further developments underway in the region. The shopping malls portfolio includes Mall of the Emirates, Mall of Egypt, Mall of Oman, City Centre malls, My City Centre neighbourhood centres, and five community malls which are in joint venture with the Government of Sharjah. The Company is the exclusive franchisee for Carrefour in over 30 markets across the Middle East, Africa and Asia, operating a portfolio of 460 outlets including City+, the region’s first checkout-free store, and an online store.
Majid Al Futtaim operates more than 600 VOX Cinemas screens as well as a portfolio of world-class leisure and entertainment experiences across the region including Ski Dubai, Ski Egypt, Dreamscape, Magic Planet, Little Explorers and iFLY Dubai. The Company is parent to a Fashion, Home, Beauty, and Specialty retail business representing international brands such as SHISEIDO, Poltrona Frau, CB2, Crate and Barrel, Abercrombie & Fitch, Hollister, AllSaints, lululemon athletica, LEGO and THAT, a Majid Al Futtaim Lifestyle concept store and app. In addition, Majid Al Futtaim operates Enova, a facility and energy management company, through a joint venture operation with Veolia, a global leader in optimised environment resource management.
About Poltrona Frau
Poltrona Frau has been a leader in the world of Made in Italy furnishings since 1912. It values artistic aptitude and meticulous craftmanship, using only the highest-quality raw materials, like Pelle Frau® leather which makes it the ideal go-to for high-end furniture for the home and office. The search for style has led Poltrona Frau to create classic pieces that express a unique and intimate elegance, from Chester and Vanity Fair, designed by the founder Renzo Frau, to Dezza by Gio Ponti and Titanio, a project by Pierluigi Cerri that won the brand its first Compasso d’Oro Award. Today collections include iconic pieces from Jean-Marie Massaud, Ludovica + Roberto Palomba, Roberto Lazzeroni, GamFratesi and Neri&Hu. Poltrona Frau fosters an exquisite blend of tradition and innovation in its two other business units, Interiors in Motion and Custom Interiors.
Interiors in Motion specializes in developing exclusive interiors for luxury cars, yachts, rail and aviation and has collaborated with many of the worlds most respected luxury brands, including Ferrari, Porsche, Ducati, McLaren, Ferretti Yachts, Pershing, Riva and Singapore Airlines to name just a few. Custom Interiors develops seating and interiors solutions for auditoriums, theatres, airports, public spaces, office and store showrooms and hotels, working closely with many of the most influential architects and designers globally. It has partnered with the likes of Renzo Piano, Foster + Partners, Frank O.Gehry, Jean Nouvel, Zaha Hadid Studio and David Chipperfield to support many of their most important international projects. The heart of all operations is in Tolentino, in the heart of the Marche region in Italy where the brands expertise that has passed from generation to generation, and has proudly earned numerous certifications for environmental sustainability and recognition of policies that protect the health and safety of employees.