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Sun 22 Apr 2007 05:51 PM

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Russian retailer LeFutur expands in ME

Emirates to be site of half the planned 20 franchise stores selling 'innovative' gift ideas.

LeFutur, a Russian retailer which specialises in innovative gifts, is looking to open 20 stores in the Middle East, 10 of which are to be situated in the UAE, the company revealed.

The stores are to be located in the UAE, Saudi Arabia, Egypt, Lebanon, Bahrain, Qatar, Oman and Jordan, said Alex Vassiliev, regional director, Middle East and Africa, for the company.

The company is also looking to develop its franchising business whereby stores would be operated by the local master franchisees, said Vassiliev.

The company has already signed a letter of intent to open 10 stores across the UAE with a leading local business group.

The chain was founded in Moscow in early 2002 and operates more than 80 stores in Russia, Turkey, Latvia, Ukraine, Estonia, and Kazakhstan and has five offices in Russia, Hong Kong, Turkey, Ukraine and the USA.

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