DUBAI: Saudi retail giant Alhokair is bringing Flying Tiger and Alo Yoga to the Kingdom.
The arrival of American leisure brand Alo Yoga and Danish variety retailer Flying Tiger Copenhagen comes as Fawaz Abdulaziz Alhokair Co. looks to expand its offering after a tough year for the retail sector.
It is part of a wider strategy to expand its retail portfolio and move into new lifestyle categories, according to a bourse filing on Monday.
Alo Yoga, which sells a collection of yoga clothing and accessories, will open in the Kingdom Center in Riyadh – its first outlet outside the US.
Alhokair is planning to open 45 Flying Tiger stores in five years, with nine outlets and an online store operational in the first year.
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Saudi Arabia’s listed retailer Fawaz Abdulaziz Alhokair Group signed two separate franchise agreements with the US and Danish companies to expand its retail portfolio.
The deals are with Danish retailer Flying Tiger Copenhagen and US-based yoga and athleisure brand Alo Yoga, the company said in a statement to the Tadawul stock exchange, where its shares trade.
Flying Tiger Copenhagen is a variety store retailer known for selling a range of products including toys, accessories, stationery and gadgets, while Los Angles-based Alo Yoga sells exercise and yoga-related clothes.
“As the largest retail market in the Middle East, Saudi Arabia is a gateway to the region and an enthusiastic adopter of innovative trends and products,” Marwan Moukarzel, chief executive of Fawaz Abdulaziz Alhokair said on Monday.
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