(MENAFN Press) Renowned French clothing brand CTM SYLE has appointed Abughazaleh Trading Company (ABCO) to manage its operations in UAE, KSA, Qatar, Oman and Kuwait
After the signing the agreement, Midhat M. Abu Ghazaleh, CEO of ABCO, said the arrival of CTM STYLE is a strong proof that the UAE retail sector has captured international interest following the UAE's successful bid for hosting Expo 2020. He added that international brands see no risk in making investments in the UAE market and for many global retail brand the UAE has become a preferred destination.
Quoting a Bain & Company report, Abu Ghazaleh said that more than half of the world's major retail brands have a presence in Dubai. Another recent report by CBRE's has classified Dubai as the second most important retail destination in the world, after London.
Abu Ghazaleh said the agreement between CTM STYLE and ABCO demonstrates the strong appetite for international brands in the region. The retail sector has got a further boost with a series of new decrees and legislations issued mainly by the Government of Dubai
"Our operations in distribution are growing phenomenally. We will be serving five GCC states through this agreement, operating from our headquarters in the UAE. We are proud to represent this international brand that has more than 4,000 branches worldwide," Abughazaleh added
CTM STYLE specialises in clothing for men, women and children. Its products are available in 15 countries around the world since 1984, and have earned high international reputation in record time
"Through our network and our UAE headquarters, we will manage CTM STYLE operations as per a well-rounded regional strategy. At the same time, we are aggressively exploring other brands that want to establish presence in the region.
CTM STYLE includes several sub-labels such as 'Freegun' for men and boys, and its sister brand 'Miss Freegun' for women. The brand also include labels such as 'Melissa Brown', 'Alan Brown', 'Nuit Secrete', 'Tendre Nuit' as well as 'Scoop Line', the famous global provider of kids' wear