(MENAFN) UAE-based Abughazaleh Group (ABCO) announced it is planning to make an investment of USD27.2 million on expanding its business by opening 30 stores in the next five years, as the result of the company registering a 24 percent increase in sales this year compared with 2013, Arabian Business reported.
The company said that it plans to start the expansion plan by the beginning of 2015, with the group aiming to increase the total number of shops to 35 by 2020, which will be added to its online platform, opening in June 2015 that will be launched to sell apparel, footwear, home linen, toys, toiletries, outdoor furniture and electronics.
"We opened four stores in the past two years. The new plan is to launch six stores per year on average, including an online store. Online sales are the future of the retail fashion segment, due to convenience and competitive pricing. E-commerce has been witnessing double growth in sales on annual basis," CEO of ABCO said.
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