In a recent announcement, Saudi Arabia’s Alhokair ties up with Danish and US companies to widen its retail portfolio. This includes the Danish retailer Flying Tiger Copenhagen and US-based yoga and athleisure brand Alo Yoga.
Flying Tiger Copenhagen
The Danish brand is a retailer for toys, accessories, stationery and gadgets. They hope to open 45 shops across Saudi Arabia with Alhokair in the next 5 yrs as its DIY market is expected to grow to $724 million due to the pandemic.
“As the largest retail market in the Middle East, Saudi Arabia is a gateway to the region and an enthusiastic adopter of innovative trends and products,” said Marwan Moukarzel, chief executive of Fawaz Abdulaziz Alhokair, on Monday.
“We are confident that Flying Tiger Copenhagen’s wide range of affordable products will witness great success, especially among young Saudi customers – offering more tools to inspire their creativity while meeting local and international sustainability standards.”
Alo Yoga
The brand deals with exercise and yoga-related clothes. MarcoDeGeorge, co-founder and co-chief executive of Alo Yoga, said the agreement is “a groundbreaking partnership for us, as we expand our global footprint starting with Saudi Arabia”.
“Triggered in part by the pandemic, Saudi customers have in the last year or so become increasingly health and fitness focused and have begun incorporating exercise routines into their daily life. In keeping with this trend, we have seen strong growth in customers choosing to [buy] exclusive sports and athleisure wear brands from around the world – in shops and online.” said Mr Moukarzel.
Source: The National News
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