Dubai's Paris Gallery reports 13% jump in 2012 net profit 

(MENAFN) Paris Gallery's CEO, Mohammed Abdul Rahim Al Fahim, announced that the retailer's net profits for 2012 grew by 13 percent from a year before, reported Arabian Business.

Al Fahim, who didn't unveil profits' figure, said that annual revenue surged by 43 percent.

The Dubai-based family-owned business' perfume sales accounted for over half of 2012's total sales, followed by watches and jewelry, with 27 percent, fashion 10 percent, and eyewear and accessories, with 6 percent and 5 percent, respectively.

He noted that 50 percent of last year's sales took place in the UAE, whereas 41 percent were recorded in Saudi Arabia, 7 percent in Qatar and 2 percent in Bahrain.

It is worth noting that in 2013, Paris Gallery plans to expand presence outside the GCC, with stores in Iraq, Azerbaijan and South Africa.