By Staff writer
Retail group says will invest $68m over five years to push footprint of brand
Landmark Group, the Gulf retail conglomerate, said Monday it
plans to invest AED250m ($68m) annually over the next five years to expand its children’s
brand Babyshop across the region.
The company plans to add 33 outlets, including five new UAE
stores, in a roll-out that will add 250,000 sq ft of retail space to its
portfolio by mid-2012, Landmark said in a statement.
It’s the latest in a flurry of expansion plans for the company,
which counts global brands New Look, Reiss and Kurt Geiger among its retail franchises
Landmark said earlier this month it would open 200 stores in
total across the Middle East by end-2012, in a growth plan set to create around
700 jobs. The company also said it planned to
Have 100 restaurants in its food and beverage portfolio by
2015, representing an investment push of AED250m ($68m).
“Expansion for all the brands is pretty much on the cards,”
CEO Vipen Sethi told Arabian Business. “We are opening new stores all the time.”
In its fiscal year ending June 2011, Landmark’s retail arm recorded
top line growth of around 24 percent, Sethi said, followed by strong sales
during the month of Ramadan.
The company is also eyeing the franchise rights to a number
of international brands, he said.
“We are looking, we
don’t know as yet.”
Babyshop is ok but Mothercare is better.