Majid Al Futtaim, the Dubai-based mall operator, has announced the signing of an agreement with retailer Crate and Barrel to operate its stores and showrooms in Qatar.
The agreement covers a five-year term with an exclusive licence for stores in Qatar and plans to expand into other areas of the GCC, the company said in a statement.
This marks Majid Al Futtaim Fashion’s first entry into the home fashion and furniture market, it added.
Founded in Chicago in 1962, Crate and Barrel is a homeware and furniture brand with more than 100 stores globally.
Majid Al Futtaim Fashion said that it will debut the brand with a 1,500 sq m Qatar store located in Doha Festival City which is due to open by the end of 2017.
Rajiv Suri, CEO at Majid Al Futtaim Fashion said: “This is an important step for Majid Al Futtaim Fashion as we expand into a new line, home fashion and furnishings. Crate and Barrel is an incredible brand with a strong presence in the UAE, so we are excited to continue to extend the company’s presence further across the GCC.”
“We are excited about this new relationship and what it means for the Crate and Barrel brand,” added Neela Montgomery, executive chair, Crate & Barrel. “The aggressive growth orientation of Majid Al Futtaim aligns squarely with our business strategy in the region.”
Today, Crate and Barrel is a privately held company owned by the Otto Group of Hamburg, Germany, the second largest online retailer worldwide.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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