RIYADH, SAUDIA ARABIA, JUNE 9TH, 2015
Fawaz A. Alhokair & Co. Tadawul “HOKAIR’, knows as ‘Fashion Retail’, today announced twenty-five years of growth in the Retail sector.
Celebrating twenty five years in the retail industry, Fawaz A. Alhokair today says ‘Thank you’ to those around the world who, during a quarter of a century, have helped to make it possible.
Simon Marshall, Chief Executive Officer, Fawaz A. Alhokair & Co. said,
“Fashion Retail represents everything good about Saudi Arabia: Investment, Innovation and entrepreneurship. The Alhokair brothers, Fawaz, Abdul Majeed and Salman, have raised the Saudi flag in seventeen countries, and established business relationships globally.”
He went on,
“What started as Fawaz Alhokair’s vision, twenty five years ago, has grown to become a retail powerhouse, recognised the world over. And, the capital the family invests goes a long way; every Riyal invested generates ten times its value in creating employment, building infrastructure and supporting philanthropic works. That’s a terrific achievement.
The company now reports:
- 2127 Stores
- 80 Brands
- 17 Countries
- Revenues in excess of 2.5BN USD
Dr. Abdul Majeed Alhokair, speaking on behalf of his brothers, Dr. Fawaz Alhokair and Eng. Salman Alhokair said,
“We’re so proud to celebrate 25 years of flying the flag for Saudi entrepreneurship. Since our first store twenty five years ago and until today, our company has played a pivotal and pioneering role in establishing the retail franchise and joint venture market-place and model; finding and expanding retail brands from around the world.”
The talent of our people is at the heart of our success, as is the foresight among our brand partners, to seek out new international markets and to find new customers by entrusting the growth of their brand, to us.
This is a responsibility we embrace with vigour and integrity. Fashion Retail stands not just for great retailing talent, but amazing success stories: From first-mover investment in Kazakhstan, to our market-saturation strategy within our domestic market; Joint venture investment in private label brands, to brand acquisition and rapid growth through our instant-critical-mass programme.” “We’re terrifically excited about a domestic market strategy that reflects what a dynamic and vibrant place Saudi Arabia is today; the country has a wealth of talent, discerning consumers, and it’s never been more important for our company to invest in, employ from and contribute to.”
Dr. Abdul majeed ended,
“I’d like to thank, sincerely, our brand partners, our personnel, our professional partners, and not least our shareholders; all of whom have trusted our instincts and ability to conceive the investment strategy which has delivered a huge and sustained return on investment. “
Notes to Editors
About Alhokair Fashion Retail
Fawaz A. Alhokair & Co (known as “Alhokair Fashion Retail”) was formed in 1990 by Fawaz, Salman and Abdulmajeed Alhokair. The company has since become the largest franchise retailer in the KSA, MENA, Central Asia and Caucasus regions, and the only listed business of its type in the Middle East. Quality, innovation, service and trust are the guiding principles for all Alhokair Fashion Retail operations. These values are coupled with an ability to move quickly, to seize new opportunities and to enter emerging markets. Since the opening of its first store in 1991, Alhokair Fashion Retail has grown considerably and now trades in more than 2,100 stores across 100 shopping malls in 17 countries, with a retail platform operating on a total GLA of over 500,000m2. All of this is managed by a workforce numbering more than 12,000. Alhokair Fashion Retail currently represents over 80 fashion brands, spanning from womenswear, menswear, kids and baby, department stores, shoes and accessories, cosmetics and coffee shops.
For further information please contact:
Mr. Brendan Dorrian
Head of Business Development, Fawaz A. Alhokair & Co
UK Cell: +447778897111