Hong Kong retailer Esprit will boost its presence in the Middle East via a local partnership.
Esprit has signed a deal with Al-Futtaim Group for Middle East distribution. Part of the agreement will see Al-Futtaim taking over the operations of more than 35 Esprit stores in the Middle East and North Africa.
The deal also includes increasing the number of footprints in the region in the coming years, including stores at the group’s owned mixed-use developments such as Doha Festival City and Cairo Festival City.
Al-Futtaim Group has more than 70 years of experience in automotive, technology, services, financial services, real estate, hospitality and retail.
“In addition to focusing activities on our core regions of Europe and Asia, we will be intensifying activities in additional growth markets, such as the Middle East,” said Esprit CEO Jose Manuel Martinez Gutierrez.
While expansion plans are underway for the Middle East, Esprit last week said it would end its retail operations in India after seven years of struggling to make profits.