Piquadro opens ME's first outlet in Abu Dhabi
Abu Dhabi, May 31, 2008
Piquadro, the leading Italian designer leather goods company, will enter the Middle East market for the first time with the opening of its boutique in Khalidiyah Mall in Abu Dhabi on June 5.
The famous Italian brand, which operates a global retail operation spanning 50 countries, sees tremendous potential for its range of products to make an impact in the Middle Eastern region.
Piquadro's leather product range includes professional bags and briefcases for men and women, travel items, planners, portfolios, small sundry items and a wide array of accessories.
'Our Abu Dhabi store will help us establish presence in the Arabian Gulf market and expand into the Middle East region as a whole,' said Marco Palmieri, chairman and CEO of Piquadro.
He said the modern retail formats like the one at Khalidiyah Mall have been growing in popularity in the Middle East.
Abu Dhabi has drawn the world's attention with its emphasis on all-round development and focus on promoting itself as a new destination for tourism, leisure and business, Palmieri said.
'Abu Dhabi has also opened sizeable new shopping malls that offer exclusive and high quality brands. All these are factors that strengthen the capital's attraction as an ideal shopping venue, which makes the city very attractive for Piquadro,' he added.
Citing recently published local reports, he said Abu Dhabi's retail spending power was expected to surpass Dh7.32 billion ($2 billion) by 2009.
“Piquadro is very keen to tap this burgeoning market and I think our entry is very timely,” Palmieri said.
He also noted that the Gulf Co-operation Council states account for more than 60 per cent of the Middle East's retail business according to RNCOS, a market research consulting services company. -TradeArabia News Service