Pakistan’s Nishat Group eyes up to 25 Gulf stores

Textile giant will open first store in Dubai in May but sees 25 outlets across Gulf by 2013
Pakistan’s Nishat Group eyes up to 25 Gulf stores
The Nishat Group, a Pakistani conglomerate with an annual turnover of around $5bn, plans to open six outlets in the UAE by the end of 2011
By Shane McGinley
Sun 08 May 2011 04:15 PM

Nishat Group, the textile giant owned by Pakistan’s richest man, plans to open up to 25 stores across the Gulf over the next two years, the Lahore-based firm said Sunday.

Nishat Linen, which counts international brands Hugo Boss and Tommy Hilfiger among its clients, will open its first overseas store on May 12 at Dubai Festival City.

The Nishat Group, a Pakistani conglomerate with an annual turnover of around $5bn, plans to open five more outlets in the UAE by the end of 2011, the company said in an emailed statement.

The company plans to roll out up to 25 stores across the six GCC states by 2013, it said.

Nishat Group was founded by Mian Muhammed Mansha, who was named Pakistan’s first billionaire by Forbes magazine in 2010. He has an estimated wealth of $6bn.  

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