By Sam Bridge
MCM Worldwide announces joint venture with Al Tayer Insignia to open MCM flagship store in the Dubai Mall in March
MCM Worldwide on Wednesday announced a joint venture with Al Tayer Insignia, the largest luxury retailer in the Middle East, marking the brand's direct entry to the UAE market.
The joint venture will be headquartered in Dubai and will open a new MCM flagship store in the Dubai Mall, Fashion Avenue in March.
MCM is a luxury lifestyle goods and fashion house and is currently distributed online and in 650 stores worldwide including Munich, Berlin, Zurich, London, Paris, New York, Hong Kong, Shanghai, Beijing, Seoul, Tokyo.
“We are delighted to take an important step further into the UAE market through this partnership with Al Tayer Insignia. Over the past years, MCM has established a strong presence in the region and we feel that it is now time to further enhance it, by introducing a new omnichannel approach and heavily expand our online presence in the region,”, said Eric Erhardt, president of MCM EMEA.
“We are excited about our partnership with MCM. The joint venture will set the platform for the continued growth of MCM in the region by enhancing its customer proposition.” added Khalid Al Tayer, managing director, Al Tayer Insignia.”
Since its debut into the UAE in 2012, MCM has established presence in Saudi Arabia, Kuwait, Qatar, Bahrain and Egypt, with flagship stores and shop-in-shops located in leading luxury malls, as well as the most recent successful partnership with luxury online distributer OUNASS.