(MENAFN-Khaleej Times) centrepoint has planned to open 100 new stores in the next five years in the middle east and africa with an investment of dh1 billion and around 10,000 new employees will be hired to support the expansion
This was disclosed by landmark group’s top officials during a news conference on tuesday to celebrate the launch of the brand’s 100th store in the region at al ghurair centre, dubai, on wednesday.
Total stores in the uae will reach 15 after the opening of the new store. centrepoint has enjoyed significant success particularly in saudi arabia and kuwait where the concept has evolved into a popular fashion destination for families. saudi arabia, top among the brand’s markets has 56 centrepoint stores. the brand that was launched in 2005 in kuwait currently retails four great brands under one roof — babyshop, splash, shoe mart and lifestyle — across saudi arabia, uae, kuwait, oman, bahrain, qatar, egypt, lebanon and jordan that collectively span an aggregate retail footprint of over five million square feet.
Vinod talreja, simon cooper at the media briefing. — supplied photo
With 100 stores in its retail portfolio, centrepoint is set to launch 20 stores this year and 15 stores next year across existing territories as well as new markets including iraq, libya and other african countries, centrepoint director vinod talreja told khaleej times.
The uae will get seven to nine new stores and each store will need 100 supporting staff, talreja explained.
The company has signed contracts for 75 new stores across the region and the number is expected to touch 100 outlets, he said, adding: “we need additional 10,000 staff members for new stores.” at the moment the company has 10,000 employees and around 100 people are required for a single store, he added. “as an innovative, one-stop shopping concept, centrepoint has received tremendous acceptance across all territories where it has a presence. our success is a testimony not only to the quality of products and services we offer, but also to the practicality of having a single destination that meets the shopping needs of the entire family. with our experience of almost a decade, centrepoint is well geared to enter new markets and explore further opportunities,” talreja said.
Simon cooper, head of centrepoint, said: “based on our exhaustive consumer research conducted in 2013 across our key markets in the gcc region, it is apparent that shoppers closely connect with the brand that centrepoint represents. we process 35 million transactions annually. the average customer visits centrepoint at least nine times in a year and shops for at least three of the four brands with their families. these trends are strong indicators of centrepoint’s viability as a successful retail format.”
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