SAUDI ARABIA: Al Hokair buys US children’s wear retailer
Strasbourg Jarvis operates 53 children's stores
Retail Group of America, a unit of Saudi Arabia-based fashion retailer Fawaz Abdulaziz Al Hokair Company, has bought bankrupt children’s clothing chain Strasbourg Jarvis in a deal worth US$2.2m.
Fawaz Abdulaziz Al Hokair said the deal will help it expand in the American market.
Strasbourg Jarvis, which filed for Chapter 11 bankruptcy in 2009, operates 53 stores in 19 states according to the company’s website.
Fawaz Abdulaziz Al Hokair franchises a number of leading brands in the region, including Zara, Massimo Dutti, Promod, Marks & Spencer, Nine West, Aldo and Monsoon. It most recently inked a deal to open Gap and Banana Republic stores in Saudi Arabia, Egypt and Jordan.
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