Jashanmal in franchise talks with overseas retail brands

Bahrain-based retailer Jashanmal Group is in talks with a number of overseas retailers to bring new franchises to the Gulf, its CEO has told Arabian Business.

The firm, which counts Burberry and Calvin Klein in its portfolio, declined to name the companies but said it had a natural affinity to British-retailers

“We are talks with many brands,” Tony Jashanmal said. “We’re constantly looking around for things of interest; we look at new things, see what is happening elsewhere and then if we think something is interesting then we start talking to them.

“We actually have a much bigger affinity and dealing with brands from the UK.”

The firm, which buys franchise rights of international firms and also operates its own chain of department stores and bookstores, opened the GCC’s first branch of London fashion retailer LK Bennett last week and plans to open at least six more outlets.

“We’ll open at least a couple of in Dubai and certainly one in Abu Dhabi, maybe two in Kuwait and also Bahrain – all places where we are very active. We intend to go all the way with LK Bennett because the brand is well known in the UK,” said Jashanmal.

The GCC is fast becoming an attractive region for retailers due to its rising wealth, strong tourism industry and a growing urbanised population. Retail in Dubai, home to some of the region’s most lavish malls such as Dubai Mall and Mall of the Emirates, accounts for 30 percent of gross domestic product in the emirate, Standard Chartered Bank estimates.

The emirate is the second most attractive emerging market for luxury retailers after China, according to AT Kearney.