Fawaz A. Alhokair & Co. enters into a new franchise partnership with Gap Inc. to bring Old Navy stores to the Gulf region.
Alhokair, one of the region’s largest franchise retailers, will be launching two stores in Saudi Arabia in spring 2015.
The stores, which will open in the shopping districts of Riyadh and Dammam, will feature the same energizing store environment that Old Navy is known for in the United States and will offer men’s, women’s, kid’s and baby apparel and accessories.
The launch of the Old Navy brand in Saudi Arabia marks the latest in a long line of franchise agreements between Gap Inc. and Alhokair (profile), whose relationship was first forged in 2007. Since then, Gap Inc. and Alhokair have brought 41 Gap and Banana Republic stores to seven countries across the Middle East, North Africa, Central Asia and Caucasus regions.
Simon Marshall, Chief Executive Officer of Alhokair, said: “We are delighted to be opening Old Navy in the Kingdom of Saudi Arabia, starting with stores in the shopping districts of Riyadh and Dammam, with several more planned in the coming months. Old Navy provides the perfect mix of affordability and casual style for the whole family, which is just as relevant to consumers in the Kingdom of Saudi Arabia as it is for the American market. It is a retail success story that we can’t wait to develop and grow here, drawing on our own local market expertise.”
About Fawaz A. Alhokair & Co.
Fawaz A. Alhokair & Co. (SJSC) is a publicly traded retail conglomerate headquartered in Saudi Arabia. The company partners with over 65 international brands, operates in 17 countries and manages over 2,100 standalone mono-brand stores. The company’s portfolio includes leading global brands, such as Zara, Bershka, Massimo Dutti, Pull & Bear, Stradivarius, Zara Home, Uterqüe, Gap Inc., Mango, Topshop, La Senza, The Children’s Place, Marks & Spencer, Tesco F&F, and Grupo Cortefiel. Primary areas of operations include the domestic market of Saudi Arabia, other markets in the Middle East & North Africa, Central Asia and Caucasus regions and the United States. Fawaz A. Alhokair & Co. was registered as a partnership in 1990, incorporated as a joint stock company in 2006 and listed on the Saudi Stock Exchange in 2006.