Top UAE apparel firm to expand in Bahrain
Manama, June 27, 2014
UAE-based apparel firm Emirates Fine Fair plans to invest $20 million in Bahrain over the next two years as it expands its family fashion brand, Fine Fair, across the kingdom.
Bahrain's first Fine Fair outlet in Hamad Town was yesterday (June 26) inaugurated by Northern Governor Ali bin Al Shaikh Abdul Hussain Khalaf Al Asfoor, reported the Gulf Daily News, our sister publication.
The company, which has an annual turnover of $100m, considers the country a high potential market for "affordable fashion clothing for the modern quality-conscious family".
"Bahrain is an emerging market with bright business opportunities, we are glad to bring our affordable, quality products to the kingdom," Fine Fair chief executive and chairman Ismayael Rawther told the GDN.
"We plan to open 10 Fine Fair stores across the kingdom with the confirmed locations being Sultan Mall in Isa Town, East Riffa and Seef Mall Muharraq," he said.
The company already has presence in the kingdom through its premium mall format brand Kair, in Bahrain City Centre and Seef Mall.
According to him, the retail industry in Bahrain is growing at a steady pace and shoppers have a plethora of options to choose from as the country gains momentum in the textile and fashion sector too.
"Bahrain has witnessed a tremendous change with new technologies, innovations and management methods," he said.
"We are also glad to generate employment opportunities for the locals by expanding in the kingdom," he added.
"Leveraging local talent while strengthening the communities we operate in is a core belief.
"We have requirements for manpower with varied skill sets and will advertise for managers, designers and merchandisers in the coming months," he said.
Each store would be supported by 15 employees and the company would hire Bahrainis to "the maximum possible extent".
The brand has aggressive expansion plans and 50 stores are due to open in different countries within the year.
"Our vision is to open 500 stores and achieve a turnover of $1 billion by 2020. In the Middle East and North Africa (Mena) region, we expect to have 100 stores by 2020," he said.
Fine Fair currently has 40 stores in the Mena region.
The company's design facility is based in Florence, Italy, and the garments are manufactured at Fine Fair-owned facilities in India, Egypt, the UAE, Philippines, China and Bangladesh.
Rawther was speaking on the sidelines of a launch event under the patronage of Industry and Commerce Minister Dr Hassan Fakhro with Indian Ambassador Dr Mohan Kumar as the guest of honour.
It was held at the Gulf Hotel's Gulf Convention Centre. – TradeArabia News Service