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Saudi Alhokair plans JV with British retailer

Riyadh, March 27, 2011

Saudi-based retailer Fawaz Abdulaziz Alhokair Company said it had agreed to set up a joint venture with Burberry to market and sell the British luxury good group's products.

As per the deal, Alhokair will hold a 40 per cent stake in the Riyadh-based company which is to sell Burberry goods in Saudi Arabia, said the Saudi retailer in a statement to the bourse, without giving further financial details of the venture.-Reuters

 

 




Tags: Burberry | British luxury goods | Saudi retailer | Alhokair Company |

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