Archive for the ‘Retail’ Category

Aeropostale, the $1.8B (market cap; $1.6B annual sales) NY-headquartered teen retailer announced yesterday that it opened its first store in Dubai. In an earnings conference call last August when Aeropostale announced its plans to pursue Dubai, CEO Julian Geiger stated the company chose Dubai over many other options given its “growth and development,” calling it the “perfect platform” to launch the brand while learning and positioning for growth among the Asia region’s half a billion teenagers. In yesterday’s announcement, Mr. Geiger pretty much reiterated these points as Aeropostale plans to unveil more than 20 additional stores in the Middle East. While it is far from being the best of times, there are still opportunities, and the Middle East is clearly among the most promising. Hats off to Aeropostale. Also getting its foot in the door, Payless ShoeSource just announced store openings in Kuwait and Saudi Arabia.

Payless ShoeSource, the American retail footwear company, has opened stores in Kuwait and Saudi Arabia, reports Forbes. In a deal with M.H. Alshaya Co., which will support Payless’s expansion into the Middle East with construction and staffing, the company has achieved a “significant milestone” in its international strategy, said CEO Matthew Rubel. The new stores add to Payless ShoeSource’s existing 4,500 establishments in the Americas. 

Australia’s largest department store, Myer, will be opening its first overseas stores in Dubai in 2009 before opening another four stores in the UAE, reports the Sydney Morning Herald (7/21). “Three of the 10 largest shopping malls in the world are in Dubai, and retail is expected to surge by 12 per cent through until 2011 in the UAE, but at an even faster rate in Dubai,” claims Myer’s chief executive.