Centrepoint plans 20 new stores by year-end
Kuwait, April 6, 2014
Centrepoint, a unique retail format with four leading brands from the Landmark Group under one roof, plans to launch 20 stores this year and 15 stores next year across existing territories as well as new markets including Iraq and Libya.
The announcement was made during a press meet to celebrate the launch of the brand’s store at Al Ghurair Centre, Dubai – Centrepoint’s 100th outlet in the region.
The brand that was launched in 2005 in Kuwait and had reached a total of 9 stores today covering an area of over 56000 sq m. Centrepoint currently retails four great brands under one roof - Juniors, 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, director, Centrepoint, said: “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.”
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, followed by the UAE market that has 15 stores.
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.” – TradeArabia News Service