Marka, the first public joint stock company focused on the retail sector in the UAE, on Wednesday announced that it has been named the exclusive franchise operator in the GCC for CR7 Footwear - Cristiano Ronaldo's new footwear collection.
The first CR7 Footwear store is slated to open its doors in February 2015, simultaneously with the brand's global launch, the company said in a statement.
Marka added that it will focus on an aggressive expansion strategy that will see the opening of 11 monobrand stores across the GCC within the next seven years.
This presence will be further solidified with additional shop-in-shop locations planned in premium department stores, the statement said.
Jamal Al Hai, chairman of Marka, said: "Through his football skills and his style, Cristiano Ronaldo has evolved into a global inspiration and cultural icon. Here at Marka, we are delighted to be bringing his brand of footwear to GCC customers.
"We believe Ronaldo's commitment to quality and perfection, both on and off the pitch, are in-line with our long-term vision to be one of the premier retail operators in the region."
Khaled Almheiri, vice chairman of Marka, added: "Marka was launched with a vision to be the leader in the affordable luxury retail category. Our exclusive partnership with a brand of this stature is testament to our vision and demonstrates our ambitious growth strategy and international ambitions."
Since incorporating in June, Marka said it has partnered with leading global brands and is set to make a series of announcements in the coming weeks spanning women's, men's and children's fashion categories.
With a capital of AED500 million, Marka shares will start trading on the Dubai Financial Market on September 25.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.
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