HONG KONG: Esprit in new distribution deal for Middle East
Esprit's distribution deal in the Middle East will be with Dubai-based Al-Futtaim Group
Hong Kong-based clothing brand Esprit has inked a distribution deal for the Middle East with Dubai-based Al-Futtaim Group to double its footprint over the next few years.
Al Futtaim's retail division will take over the operations of more than 35 Esprit stores in the Gulf Co-operation Council (GCC) and Middle East & North Africa (MENA) regions. The clothing brand has stores in Saudi Arabia, United Arab Emirates, Kuwait, Bahrain, Egypt and Lebanon.
Esprit group CEO Jose Manuel Martinez Gutierrez said: "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."
Separately, Esprit said it has mutually agreed not to renew its Indian distribution contract with Madura Fashion & Lifestyle (MFL) after the agreement expired in June. Esprit has 25 standalone stores in 39 shop-in-shops in India.
A spokesperson for Esprit said: "The Indian market is a key strategic growth market for Esprit, in which the company will continue to be represented and aims to further expand its business. At present, Esprit is evaluating various options for the future structure and organisation of its business in India."
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