By Staff writer
Abughazaleh Abco Group chief reveals plans for growth ahead of Expo 2020
UAE-based Abughazaleh Abco Group has announced plans to invest AED100 million ($27.2 million) in opening 30 stores in the next five years.
The expansion plan comes as the trading group registered a 24 percent increase in sales in 2014, compared to 2013.
Midhat M Abu Ghazaleh, CEO, ABCO, said that starting from 2015 the group aims to increase the total number of shops to 35 by 2020, ahead of Expo 2020.
“We opened four stores in the past two years. The new plan is to launch six stores per year on average, including an online store,” said Abu Ghazaleh.
In June 2015, the group’s online platform will be launched to sell apparel, footwear, home linen, toys, toiletries, outdoor furniture and electronics.
Abu Ghazaleh said: “Online sales are the future of the retail fashion segment, due to convenience and competitive pricing. E-commerce has been witnessing double growth in sales on annual basis.”
He said ABCO is currently available in 260 points of sale in various locations across Europe and plans are in place to increase the staff to match the expansion plans.
ABCO said it witnessed higher demand for apparels in 2014, with record sales increase in women’s dresses, men’s casualwear and children footwear.
“We are in process of launching more brands available for franchising, including SOMBRA, a stylish women’s fashion brand; TRIO, which serves as a family destination stores for fashion, footwear, home linen, and gift items; and Apando, the footwear and accessories brand," he said.
ABCO has fully equipped divisions engaged in the B2B manufacturing and distribution of various products like apparel, footwear, home linen, uniforms, toys, toiletries, furniture, electronics and food products in Middle East and North Africa, Europe, South East Asia, South Africa, Russia and CIS countries.