SuperGroup Plc signs major de
Monday 14th June
SuperGroup Plc signs major deal to roll out
13 Superdry stores across the United Arab Emirates
SuperGroup Plc ("SuperGroup"), owner of the Superdry brand and one of the fastest growing international retailers and wholesalers of youth fashion, is pleased to announce that it has signed a franchise agreement with Al Khayyat Investments LLC ("Al Khayyat Investments") to open 13 Superdry stores across the United Arab Emirates ("UAE").
The rollout of stores, taking place over the next three years, will see the first store open in Dubai's Deira City Centre complex in July 2010. Two more stores are scheduled to open before the end of the year in Mirdif City Centre and Mall of the Emirates.
Al Khayyat Investments, based in Dubai, has multiple interests across retail, distribution and services sectors. The holding company manages leading retail brands like La Martina, BinSina Group of pharmacies, Degrenne Paris and Life Fitness, in addition to its Food and beverage portfolio including IL Caffe Di Roma and Burger Fuel.
Theo Karpathios, CEO of SuperGroup's Wholesale & International Division, said: 'This is a key milestone in our international roll out and we are delighted to have signed this agreement with Al Khayyat Investments. We believe this deal will significantly increase our footfall in one of the world's most dynamic and vibrant regions. It underlines the truly international appeal of the Superdry brand and we look forward to working with Al Khayyat Investments going forward.'
Zaid Al Khayyat, Director, Al Khayyat Investments LLC,commented: 'Our retail clothing brands achieved a growth of 18% year to date, in fact the clothing retail market has proved to be a recession-proof business especially in the GCC region that enjoys a world class shopping infrastructure and where consumers always demand high quality fashion clothes.
'We are delighted to launch the iconic Superdry brand in the Middle East. Superdry occupies a unique position in the fashion world and we are thrilled to bring this brand to the UAE and beyond. We have joint growth plans with SuperGroup to expand it into other parts of the GCC and Levant regions as of the first quarter of 2011. We look at this move as a springboard to further investments into the Middle East retail markets.'
Contacts:
SuperGroup
Matthew Barnett T: 00 44 (0) 1242 588187
M: Communications
Ann-marie Wilkinson / Georgina Briscoe T: 00 44 (0) 20 7920 2330
Notes to Editors:
UAE teens spend three times as much as their global peers on clothes and apparel, according to the results of a survey of the opinions and habits of teenagers in the region. The Global Teen Insights Programme-MENA edition 2010, which was carried out by research firms AMRB and TRU, found that UAE teens spend an average of $71 a month on clothing and apparel. This was more than three times the global average, which was found to be $21.
About SuperGroup Plc
SuperGroup, which employs over 1000 staff, includes the Superdry brand and Cult retail chain. It has a total of 45 stand-alone Cult and Superdry stores in the UK and Ireland, plus 56 concessions in the House of Fraser.
Superdry has a rapidly expanding international operation and over the past 18 months has established stores in Belgium, France, Scandinavia, the US, Australia and South America.
About Al Khayyat Investments LLC
Al Khayyat Investments is a Dubai-based family-owned holding company with diverse industry interests. The business dates back to 1982. The turnover of the company's retail and distribution businesses in the UAE exceeded USD 260 million in 2009. Besides the retail and distribution businesses, Al Khayyat Investments has interests in contracting, automotive, real estate and education. The main subsidiaries are: Alphamed General Trading LLC, Delta Trade, BinSina Group of Pharmacies, Scientific Pest Management, Madares, Al Khayyat Retail Division, Transmak, Gulf Landscaping, ITALDECO, Realty Capital, ALNO, Al Khayyat Motors and Europcar.
-Ends-
This information is provided by RNS
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