Agreement makes Majid Al Futtaim Fashion the master distributor for the brand throughout the Middle East
HONG KONG, Jan. 23, 2015 /PRNewswire/ — Majid Al Futtaim, the leading shopping mall, retail and leisure pioneer across the Middle East and North Africa (MENA) and Authentic Brands Group, LLC. (ABG) today announced a long term strategic partnership to accelerate global luxury lifestyle brand, Juicy Couture in the Middle East. Majid Al Futtaim Fashion, the fashion retailing arm of Majid Al Futtaim is now the master retail and wholesale distributor for the brand in the Middle East.
"We are committed to growing Juicy Couture in key global markets and the Middle East is a major component of that growth," said Jamie Salter, Chairman and Chief Executive Officer of ABG. "We have aligned with Majid Al Futtaim Fashion, the wholesale and distribution leader in the MENA territory."
"Juicy Couture is one of Majid Al Futtaim Fashion’s most established and best-performing labels in our portfolio, having created a thriving business for the lifestyle brand in the region," said Rajiv Suri, CEO at Majid Al Futtaim Fashion. "Taking on the position of master distributor for Juicy Couture in the region, demonstrates our leadership and expertise in fashion retailing. We look forward to working with ABG to significantly grow Juicy Couture’s presence in the MENA market over the coming years."
As the appointed exclusive distributor for the region, Majid Al Futtaim Fashion will create a harmonised brand presence across its point-of-sale networks including boutiques, shop-in-shops and wholesalers. The Middle Eastern consumer will benefit from access to Juicy Couture’s unique, Los Angeles inspired collections, having a greater selection of apparel to choose from and consistency in pricing across all locations.
Majid Al Futtaim Fashion is focused on the brand’s expansion strategy by opening new Juicy Couture stores with a recent opening in Yas Mall, Abu Dhabi. This month Juicy Couture debuts in Qatar in Lagoona Mall, Doha and is slated to open a number of stores in Saudi Arabia in 2015.
The next phase of growth in the Middle East will center on creating an integrated distribution network beyond shopping malls. Building on the success of Juicy Couture’s Black Label Collection, a major push in eCommerce, with both omni-channel and wholesale online accounts, will significantly extend the brand’s reach across the territory.
Majid Al Futtaim – Fashion first introduced Juicy Couture to the Middle East in 2007 with a boutique in Dubai. Today, the luxury lifestyle brand is its best performing label with 19 freestanding stores in UAE, KSA, Lebanon, Kuwait and Bahrain and plans to open thirty new stores across the region by 2019.
About Majid Al Futtaim Fashion:
Majid Al Futtaim Fashion is the fashion retailing arm of Majid Al Futtaim. It currently works with a number of leading fashion brands throughout the GCC & Levant region including Abercrombie & Fitch Co., Hollister, Juicy Couture, HOSS Intropia, Halston Heritage and Jane Norman. Majid Al Futtaim Fashion recently announced strategic franchises with leading brands AllSaints and Maisons du Monde.
About Majid Al Futtaim
Founded in 1992, Majid Al Futtaim is the leading shopping mall, retail and leisure pioneer across the Middle East and North Africa (MENA).
A remarkable business success story, Majid Al Futtaim started from one man’s vision to transform the face of shopping, entertainment and leisure, and to create great moments for everyone, every day. It has since grown into one of the United Arab Emirates’ most respected and successful businesses spanning 12 international markets, employing over 26,000 people, and achieving the highest credit rating (BBB) among privately-held corporates in the Middle East.
Majid Al Futtaim owns and operates 17 shopping malls, 11 hotels and three mixed-use communities in MENA, with further developments underway in the region. This includes Mall of the Emirates, City Centre malls, and also 4 community malls which are in joint venture with the Government of Sharjah. It holds exclusive rights to the Carrefour franchise in 19 markets across MENA and Central Asia, operating a portfolio of over 50 hypermarkets and over 60 supermarkets in 14 countries.
Majid Al Futtaim operates 109 VOX Cinemas screens and 17 Magic Planets across the region in addition to iconic leisure and entertainment facilities such as Ski Dubai and iFly Dubai among others. Majid Al Futtaim is parent to the consumer finance company issuing ‘Najm’ credit cards, a fashion retail business representing international brands such as Abercrombie & Fitch, Juicy Couture and Halston Heritage and a healthcare business. In addition, it also has a joint venture operation with Dalkia and has recently expanded into food & beverage in partnership with Gourmet Gulf.
About Juicy Couture:
Juicy Couture is a glamorous, irreverent, and fun lifestyle brand for the decidedly fashionable, bringing LA style and attitude to girls all over the world. Embracing its Los Angeles heritage, Juicy discovers the couture in the every day, and delivers an element of surprise in all of its designs. The global phenomenon is identified as a casual luxury brand, offering apparel in the categories of women, girls and baby, handbags, shoes, intimates, swimwear, fragrance, accessories and jewelry. Juicy Couture is available in approximately 200 Juicy Couture stores, Juicy Couture outlet stores and select department stores approximately 60 countries throughout North America, Europe, Asia, Latin America, Africa and the Middle East. For updates and more information, please visit visit JuicyCouture.com. Follow Juicy Couture on Facebook, Twitter, Tumblr, Pinterest, Instagram and blog, The Juicy.
Juicy Couture is a trademark owned by ABG Juicy Couture, LLC.
About Authentic Brands Group, LLC
Authentic Brands Group, in partnership with Leonard Green & Partners, is an intellectual property corporation with a mandate to acquire, manage and build long-term value in prominent consumer brands. Headquartered in New York City, ABG’s mission is to further enhance brand equity through partnering with best-in-class licensees and direct-to-retail partnerships. ABG brands include Marilyn Monroe®, Mini Marilyn™, Muhammad Ali®, Elvis Presley®, Juicy Couture®, Judith Leiber®, Adrienne Vittadini®, Taryn Rose®, Hickey Freeman®, Hart Schaffner Marx®, Palm Beach®, Misook®, Prince®, Spyder®, Airwalk®, Above The Rim®, Vision Street Wear®, Hind®, Ektelon®, Viking®, Bobby Jones®, TapouT®, Sportcraft®. www.abg-nyc.com.
Majid Al Futtaim Fashion PR Agency:
Juicy Couture & ABG: