By Andy Sambidge
Fashion retailing arm of Majid Al Futtaim says it will oversee growth of British retail brand across GCC markets
The fashion retailing arm of Majid Al Futtaim, the shopping mall operator, has announced an exclusive partnership with British fashion brand AllSaints to spearhead its entry into the Middle East.
Starting from 2015, Majid Al Futtaim - Fashion will roll out the brand's stores across the GCC, a statement said.
"We are delighted to be partnering with AllSaints as the brand makes its much-anticipated debut into the Middle Eastern market," said Rajiv Suri, CEO of Majid Al Futtaim - Fashion.
"The directional brand offers something new and fresh to the regional retail landscape and we are looking forward to working together with the AllSaints team to ensure its continuing success."
"The Middle Eastern fashion and fragrance market is one of the top 5 globally, with a pace of evolution that continues to create benchmarks," added William Kim, CEO of AllSaints.
"As such we are excited to introduce our brand to the region through a partnership with Majid Al Futtaim- Fashion."
Earlier this month, Kim said he is earmarking Dubai and the wider region as a "critical focus for 2015" for the London-headquartered brand that has 119 stores globally.
He said the UAE's fashion and fragrance industry was worth $54 billion last year, making it one of the top five markets globally and the epicentre of the region's retail development.
Total retail sales grew five percent in the UAE in 2013, boosting annual sales to $66 billion, AT Kearney noted in a recent report.
AllSaints has amassed an army of fans globally with its uniquely British collections, born out of the industrial aesthetic and urban environment of AllSaints' headquarters in East London.
Majid Al Futtaim Fashion's partnership with AllSaints follows recent strategic announcements for the business, including a joint-venture with Abercrombie & Fitch Co., and brand alliances with Halston Heritage.