Gulf retailer reveals plan for 200 stores

EXCLUSIVE: MH Alshaya to bring five new global brands to region including US giant Office Depot.
Gulf retailer reveals plan for 200 stores
By Soren Billing
Wed 11 Mar 2009 11:19 AM

A major Gulf-based retailer revealed on Wednesday that it would be opening 200 new stores as part of expansion plans across 16 countries, despite the global economic impact.

Mohammed Alshaya, executive chairman of Kuwait-based MH Alshaya Co, which operates more than 1,700 franchise stores representing 40 international brands, said it was committed to growing the company in 2009.

On the sidelines of the Wharton Global Forum in Dubai, he told Arabian Business that 200 new stores would be opened across all countries and five new brands would be heading to the Middle East as a result.

"We are still expanding and we are still hiring and we are still innovating," he said.

The retail company, which operates franchises for such names as H&M, Debenhams, Top Shop and Starbucks across the Middle East and Eastern Europe, will be launching US brands Office Depot and Express this year, Alshaya added.

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