By Andy Sambidge
Retail concept plans to launch 20 new stores this year, 15 next year; new markets targeted
Centrepoint, a retail concept comprising four brands from Dubai's Landmark Group under one roof, has unveiled expansion plans across the Middle East, Asia and Africa.
With 100 stores in its retail portfolio, Centrepoint is set to launch 20 stores this year and 15 stores next year across existing territories as well as new markets including Iraq, Libya and other African countries.
The announcement was made during the launch of the brand's store at Al Ghurair Centre, Dubai - Centrepoint's 100th outlet in the region.
The brand that was launched in 2005 in Kuwait currently includes Babyshop, Splash, Shoe Mart and Lifestyle and operates across Saudi Arabia, the UAE, Kuwait, Oman, Bahrain, Qatar, Egypt, Lebanon and Jordan.
Vinod Talreja, director, Centrepoint, said: "With our experience of almost a decade, Centrepoint is well geared to enter new markets and explore further opportunities."
Centrepoint has enjoyed significant success particularly in Saudi Arabia where the concept has 56 stores.
Simon Cooper, head of Centrepoint, said: " We process 35 million transactions annually. The average customer visits Centrepoint at least nine times in a year and shops for at least three of the four brands with their families. These trends are strong indicators of Centrepoint's viability as a successful retail format."For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.