Centrepoint opens 100th store in Dubai
Dubai, March 11, 2014
Centrepoint, a leading Middle East shopping destination, has opened its 100th store in the region in line with its aggressive expansion plans for the Middle East, Asia and Africa region.
The new store was launched at Al Ghurair Centre, Dubai in the presence of senior company officials.
A unique retail format catering to families across the region with four leading brands from the Landmark Group under one roof, Centrepoint said it aims to double presence in the next five years and expand its footprint to Iraq, Libya and African countries.
With 100 stores in its retail portfolio, Centrepoint is set to launch 20 stores this year and 15 stores next year across existing territories as well as new markets including Iraq, Libya and other African countries.
The brand that was launched in 2005 in Kuwait currently retails four great brands under one roof - Babyshop, Splash, Shoe Mart and Lifestyle - across Saudi Arabia, UAE, Kuwait, Oman, Bahrain, Qatar, Egypt, Lebanon and Jordan that collectively span an aggregate retail footprint of over five million square feet.
Speaking at the launch, Vinod Talreja, the director of Centrepoint, said: "As an innovative, one-stop shopping concept, Centrepoint has received tremendous acceptance across all territories where it has a presence."
"Our success is a testimony not only to the quality of products and services we offer, but also to the practicality of having a single destination that meets the shopping needs of the entire family," he remarked.
According to Talreja, Centrepoint has enjoyed significant success particularly in Saudi Arabia and Kuwait where the concept has evolved into a popular fashion destination for families.
Saudi top among the brand’s key markets with 56 stores, followed by the UAE market with 15.
Simon Cooper, the head of Centrepoint, said: "Based on our exhaustive consumer research conducted in 2013 across our key markets in the GCC region, it is apparent that shoppers closely connect with the brand that Centrepoint represents."
"We process 35 million transactions annually. The average customer visits Centrepoint at least nine times in a year and shops for at least three of the four brands with their families. These trends are strong indicators of Centrepoint’s viability as a successful retail format," he stated.
"The next five years look crucial for the brand as it consolidates existing operations and explores newer markets to widen its presence," he added.-TradeArabia News Service