Fnac to launch its franchise in Doha
DOHA, October 14, 2014
Fnac, an international entertainment retail chain offering cultural and electronic products, will launch its first franchise at the Lagoona Mall, Doha, Qatar, early 2015.
The establishment of Fnac’s franchise in Doha will be in partnership with Darwish Holding, a pioneer in mass distribution and retail business in the Middle East.
Qatar is witnessing a strong economic development and a significant growth in its consumption. Moreover, the market of technical and cultural products upon which Fnac is increasingly developing, are well-expanding. The country is the world leader in terms of GDP per capita and thus attracts significant investments especially from major well-known and global distribution companies.
Fnac aims to open four stores in Qatar over the next five years. This first opening is a favourable opportunity to consider a greater and more rapid development in the Middle East by adapting its different formats and store concepts to market needs whether in train stations, airports, duty-free, local community stores’ formats. After Morocco, Qatar is the second country to which Fnac will expand its franchise, said a company statement.
Manuel biota, director of franchise and partnerships in Fnac, said: "As part of our development strategy, developed in 2011 under the impetus of our President, Alexandre Bompard, we are seeking new growth opportunities by, obviously, developing in new geographical areas, in France or internationally. In order to do this effectively and quickly, we have focused on franchise development, which has allowed us to open 35 outlets mainly in France in 36 months. This move towards a new geographic territory demonstrates once again the relevance of Fnac to franchising development, which allows it to quickly seize opportunities for growth based on the expertise of leading player actors.” – TradeArabia News Service