Saudi's Al Hokair acquires exclusive franchise of UK footwear label

Gulf firm to roll out physical, online stores after signing deal

  
A Saudi trader monitors stocks at the Saudi stock market in Riyadh, Saudi Arabia, January 8, 2020.

A Saudi trader monitors stocks at the Saudi stock market in Riyadh, Saudi Arabia, January 8, 2020.

REUTERS/Ahmed Yosri

Fast fashion footwear label Public Desire will be making its debut in Saudi Arabia’s brick-and-mortar retail market.

The kingdom’s Fawaz Al Hokair Company said on Monday that it has signed an exclusive master franchise agreement with the British brand to open Public Desire stores dedicated fully to the Saudi market.

Marwan Moukarzel, CEO of Al Hokair Company, said they will be rolling out physical and e-commerce stores, following the deal.

“The new agreement sets a new milestone on Al Hokair’s journey of growth and expansion,” the company said in a statement.

The new deal, Al Hokair added, is a sign that it is moving towards becoming a lifestyle company that integrates offline with online, providing customers with an “omnichannel experience”.

The Manchester-based footwear brand, which started as an etailer, was founded in 2014. About two years into the market, it recorded £9 million ($11.6 million) in sales.

(Writing by Cleofe Maceda; editing by Seban Scaria)

Cleofe.maceda@refinitiv.com

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© ZAWYA 2020

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