Sahara Mall

Fawaz Alhokair's M&S deal in Saudi ends, still partners elsewhere

DUBAI (Reuters) - Saudi Arabia’s Fawaz Abdulaziz Alhokair 4240.SE said on Wednesday its franchise agreement in the kingdom with British retailer Marks & Spencer (MKS.L) had ended, along with similar deals with a number of “non-performing” brands. Marks & Spencer (M&S) said in an email that its franchised stores in Saudi Arabia were transferred to Al-Futtaim Group in 2018. M&S has 15 franchised stores in Saudi Arabia. “We are focused on continuing to work with Al-Futtaim Group to develop and grow our business in Saudi Arabia,” M&S told Reuters. M&S still has a partnership with Alhokair in Armenia, Georgia and Kazakhstan, according to M&S’s website. M&S has more than 400 stores outside the United Kingdom, where it is a mainstay of shopping streets with more than 1,000 outlets. Its international business has been struggling, however, with revenues falling 14% and underlying operating profit down 6% in the year ended March 30, 2019. Alhokair also said on Wednesday it made a first-quarter net profit of 224 million riyals ($60 million), down 10.1% from the same period a year earlier. The firm, which owns franchise rights for brands including Mango, Zara and Banana Republic in the Middle East, said a decline in sales during the quarter was driven by the closure of non-performing stores and the disposal of weak brands as the group presses ahead with a “portfolio optimization strategy.”

Saudi Arabia · 20 Aug 2019

Sahara Mall Riyadh, first opened its doors in 1998 and eventually established the concept of “malls” in the region. As a pioneer in kingdom, Sahara Mall Riyadh succeeded to get attention as family shopping destination due to wide variety of shops with blend of international and local brands, cafés, restaurants, and entertainment zones, combine together to create a shopping centre with a distinctive twist. Sahara Mall stands in capital’s downtown encompasses over 80,000 square meters, features over 200 retail stores , kiosks, supermarket and entertainment facilities , includes Toy town the first indoor entertainment centre of middle east and Goal, one of the region’s most popular football academy. The brightly lit, spacious mall provides a relaxed shopping experience with retail outlets offering a rich and diverse selection of brands for all budgets, makes the mall the ultimate shopping and entertainment destination.

8 Sep 2018