Joe Fresh Press Release

Joe Fresh® And Fawaz A. Alhokair & Co. Announce The Opening Of 3 Joe Fresh Stores In Saudi Arabia Under Partnership Agreement Covering 17 Countries

 

Fawaz A. Alhokair & Co. opened 3 Joe Fresh stores in Saudi Arabia in July, only one hundred and fifty days after executing the franchise agreement.

TORONTO, ONTARIO AND RIYADH, SAUDI ARABIA – Loblaw Companies Limited (“Loblaw”) and its affiliates, the owners of the JoeFresh® brand, in partnership with Fawaz A. Alhokair & Co., today announced the opening of the first 3 Joe Fresh stores in Saudi Arabia.

The first 4,800 square-foot store in Mall of Dhahran opened on July 2, followed by the 4,500 square-foot in the Sahara Mall which opened on July 11 and 5,200 square-foot store which opened in Mall of Arabia in Jeddah on July 20th. A 9,300 square-foot store is slated to follow in the Al Nakheel Mall in Riyadh.

 

“We are excited to open our first stores in the Middle East, a dynamic new retail market for Joe Fresh. This signifies an important milestone for the brand as we continue to expand overseas and build on the strong foundation we have built in Canada and the United States,” said Joe Mimran, creative director of JoeFresh.

The Middle East stores are designed to mirror existing Joe Fresh stores in Canada and the United States. Minimalist white walls and poured concrete floors create a clean and modern shopping environment that spotlights the colorful and contemporary designs of Joe Fresh.

In the fall, Alhokair will open two Joe Fresh stores in Festival City and the Mall of Arabia, both located in Cairo, Egypt.

“We look forward to building the Joe Fresh business with Alhokair, a global franchise company that possesses deep local knowledge within the Middle East, and wide expertise in retail. Together, we are committed to bringing the Joe Fresh formula of smart style and compelling value to a broad audience,” said Mario Grauso, Chief Operating Officer of Joe Fresh Apparel Canada, an affiliate of Loblaw.

Joe Fresh and Alhokair announced a partnership in February that will bring the brand to 17 countries in the Middle East, North Africa and Europe. Under terms of the agreement, the company plans to open at least 96 stores by 2018 in these markets, including 40 stores within Saudi Arabia alone.

 

Simon Marshall, Chief Executive Officer of Fawaz A. Alhokair & Co., stated:

 “We welcome the opportunity to partner with Joe Fresh and to bring its unique design sensibility and exciting retail format to our customers. We believe this partnership has the potential to become the world’s single largest retail franchise by leveraging our respective strengths and shared ambitions for sustained growth across multiple markets. Joe Fresh speaks to consumers’ desires, throughout all countries in which we operate, for well-designed product with attractive value and fashion appeal.”

 

Fawaz A. Alhokair & Co. is a leading player in specialty retail, operating over 2,100 standalone mono-brand stores under partnered brands, which includes Zara, Bershka, Massimo Dutti, Gap, Mango, Topshop, The Children’s Place, La Senza and Marks & Spencer, among others.

Joe Fresh was launched in 2006 by Creative Director Joe Mimran and Loblaw, Canada’s largest grocery retailer. Under Mimran’s guidance, Joe Fresh offers consumers spirited, modern designs with exceptional value. Today, Joe Fresh is available online and in more than 340 retail locations in Canada, including 16 freestanding and studio stores. In the United States, Joe Fresh is available in 6 freestanding stores in New York, including a flagship in the landmark 510 Fifth Avenue building, and is distributed in over 650 J.C. Penney stores.

About Joe Fresh and Loblaw Companies Limited (TSX:L)

Founded in 2006, Joe Fresh is one of Canada’s leading sources for modern style and accessible design, offering comprehensive lifestyle collections for men, women and children. Joe Fresh delivers quality and compelling value in categories spanning apparel, accessories, footwear and Joe Fresh Beauty® cosmetics. The brand’s design vision is driven by Joe Mimran of Joseph Mimran & Associates, Creative Director of Joe Fresh, Home and Entertainment for Loblaw Companies Limited. In Canada, Joe Fresh products are available online and in more than 340 retail locations, including 16 freestanding and studio stores. In the United States, Joe Fresh operates 6 freestanding stores in New York, including a flagship in the landmark 510 Fifth Avenue building, and is also available in over 650 J.C. Penney stores. For more information, please visit joefresh.com

Loblaw Companies Limited, a subsidiary of George Weston Limited, is Canada’s largest food retailer and a leading provider of drugstore, general merchandise and financial products and services. Loblaw is one of the largest private sector employers in Canada. With more than 1,000 corporate and franchised stores from coast to coast, Loblaw and its franchisees employ more than 134,000 full-time and part-time employees. Through its portfolio of store formats, Loblaw is committed to providing Canadians with a wide, growing and successful range of products and services to meet the everyday household demands of Canadian consumers. Loblaw is known for the quality, innovation and value of its food offering. It offers Canada’s strongest control (private) label program, including the unique President’s Choice®, no name® and Joe Fresh® brands. In addition, the Company makes available to consumers President’s Choice Financial® services and offers the PC® points and PC Plus™ loyalty program. For more information, please visit Loblaw.ca

About Fawaz A. Alhokair & Co. (A Saudi Joint Stock Company)

Fawaz A. Alhokair & Co. (SJSC) is a publicly traded retail conglomerate headquartered in Saudi Arabia. The company partners with over 65 international brands, operates in 17 countries and manages over 2,100 standalone mono-brand stores. The company’s portfolio includes leading global brands, such as Zara, Bershka, Massimo Dutti, Pull & Bear, Stradivarius, Zara Home, Uterqüe, Gap Inc., Mango, Topshop, La Senza, The Children’s Place, Marks & Spencer, Tesco F&F, and Grupo Cortefiel. Primary areas of operations include the domestic market of Saudi Arabia, other markets in the Middle East & North Africa, Central Asia and Caucasus regions and the United States. Fawaz A. Alhokair & Co. was registered as a partnership in 1990, incorporated as a joint stock company in 2006 and listed on the Saudi Stock Exchange in 2006. For more information, please visit Fawazalhokairfashion.com