Latest news with #Corneliani
Arab News
12-04-2025
- Business
- Arab News
Majid Al-Futtaim expands luxury retail footprint in region
Majid Al-Futtaim has announced an ambitious expansion of its luxury retail portfolio for 2025. Following a record-breaking 2024, which saw a 26 percent growth in its lifestyle business, the expansion will be anchored by renowned Italian brands Eleventy, Corneliani, and Poltrona Frau, with a series of store openings planned across key locations in Saudi Arabia and the UAE. As part of its strategic growth agenda, Majid Al-Futtaim will launch more than 30 new stores, spanning both luxury and high- street brands across the region. The expansion will include five standalone Eleventy stores, the regional debut of Corneliani, and the first Poltrona Frau store outside the UAE in Saudi Arabia. Fahed Ghanim, CEO of Majid Al-Futtaim Lifestyle, said: 'In a region where customers have an abundance of choice, our ambition is to curate a portfolio of luxury brands that offer something truly distinctive. By introducing brands like Eleventy, Corneliani, and Poltrona Frau, we are bringing new dimensions to the luxury market — combining timeless craftsmanship with modern sensibilities that resonate with the refined tastes of our customers.' He added: 'At Majid Al-Futtaim, our work with luxury brands has been deeply rooted in THAT Concept Store, which has been instrumental in identifying and nurturing brands with the potential to thrive in this market. Eleventy's journey, from its initial shop-in-shop to standalone stores, is a testament to how we test, scale, and grow global luxury brands. This strategic approach allows us to continuously evolve the luxury retail experience, delivering fresh, distinctive offerings that resonate with our customers.' The five standalone Eleventy stores opening in key locations this year include Solitaire Mall in Saudi Arabia, Mall of the Emirates, Marsa Al-Arab, which all open this month, with Dubai Mall and The Grove in the UAE to follow later in the year. This growth builds on Eleventy's successful presence in the region, which includes a shop-in-shop at THAT Concept Store, a pop-up at Mall of the Emirates, and its first standalone location in Marina Mall Abu Dhabi, which opened in November 2024. Majid Al-Futtaim is further strengthening its partnership with Poltrona Frau, the iconic Italian luxury furniture brand, by introducing its first store in the region outside the UAE at Centria Mall, Riyadh, in May. Poltrona Frau achieved remarkable success in 2024, with its revenue increasing fivefold following the launch of its second UAE store at Mall of the Emirates Italian luxury menswear brand Corneliani also made its regional store debut in April at Solitaire Mall in the Kingdom. Corneliani is one of Italy's oldest independent luxury brands, renowned for its meticulous craftsmanship and presence in more than 70 countries. Marco Baldassari, co-founder and menswear creative director at Eleventy, said: 'Eleventy's philosophy of understated elegance and commitment to sustainability resonates strongly with the sophisticated Middle Eastern consumer. We are excited to strengthen our partnership with Majid Al-Futtaim, whose visionary approach to luxury retail is shaping a new vision with a growing focus on customer needs. Together, we aim to redefine luxury retail by offering timeless craftsmanship, sustainable practices, and innovative experiences.' Nicola Coropulis, CEO of Poltrona Frau, said: 'Since partnering with Majid Al-Futtaim more than two years ago, we have focused on strategic growth and elevating the customer experience across the region. The revitalization of our flagship store in Jumeirah and our successful debut at Mall of the Emirates have been key milestones in our journey. We are now excited to bring this momentum to the Kingdom of Saudi Arabia with our first store in Riyadh, further solidifying our presence in the GCC and expanding our reach in this dynamic market.' Majid Al-Futtaim's expansion in luxury retail builds on a record-breaking 2024, which saw a 26 percent increase in revenue across its portfolio and a 31 percent surge in digital sales. The year also marked the opening of 17 new stores across the region, bringing the total to 87 stores, including flagship locations for brands such as lululemon, Psycho Bunny, Shiseido, Crate and Barrel, and CB2, alongside 27 e-commerce platforms. Looking ahead, 2025 is set to be another milestone year for its lifestyle business, with plans to open 30 new stores across the region, including seven in Saudi Arabia — a key priority market for the group.
Yahoo
11-04-2025
- Business
- Yahoo
Majid Al Futtaim boosts luxe growth and plans 30 new Middle East stores
Majid Al Futtaim, a family-owned conglomerate which operates shopping malls, retail and hotel establishments in the Middle East and North Africa, has unveiled luxury retail expansion plans with Italian brand partnerships and more than 30 new stores across the Middle East in 2025. The expansion strategy includes the introduction of Eleventy, Corneliani and Poltrona Frau stores in prime locations within the United Arab Emirates (UAE) and Saudi Arabia. The company aims to open five standalone Eleventy stores at destinations such as Solitaire Mall in Saudi Arabia and Mall of the Emirates in the UAE. Dubai Mall and The Grove will also host Eleventy later in the year. The move is in response to increasing consumer demand for Italian quality and craftsmanship. Majid Al Futtaim lifestyle CEO Fahed Ghanim stated: 'In a region where customers have an abundance of choice, our ambition is to curate a portfolio of luxury brands that offer something truly distinctive. By introducing brands like Eleventy, Corneliani, and Poltrona Frau, we are bringing new dimensions to the luxury market — combining timeless craftsmanship with modern sensibilities that resonate with the refined tastes of our customers. 'At Majid Al Futtaim, our work with luxury brands has been deeply rooted in THAT Concept Store, which has been instrumental in identifying and nurturing brands with the potential to thrive in this market. Eleventy's journey, from its initial shop-in-shop to standalone stores, is a testament to how we test, scale and grow global luxury brands. This strategic approach allows us to continuously evolve the luxury retail experience, delivering fresh, distinctive offerings that resonate with our customers.' Eleventy's expansion capitalises on its existing regional footprint, which already features a shop-in-shop concept store and a pop-up location at Mall of the Emirates. Marina Mall Abu Dhabi welcomed its first standalone Eleventy store in partnership with Majid Al Futtaim in November 2024. The collaboration between Majid Al Futtaim and Poltrona Frau will be further solidified with the launch of the brand's first store outside of the UAE in Riyadh's Centria Mall in May 2025. Corneliani has already made its regional debut with a store opening in April at Solitaire Mall. In early 2025, Majid Al Futtaim announced a strategic shift in Oman, replacing Carrefour with Hypermax. The retailer's growth trajectory follows a successful 2024, marked by a 26% revenue increase and a notable 31% boost in digital sales. The year also saw the addition of 17 new stores to Majid Al Futtaim's portfolio, raising the total to 87. This expansion included flagship launches for various international brands and saw an extension into e-commerce with 27 online platforms. "Majid Al Futtaim boosts luxe growth and plans 30 new Middle East stores" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Trade Arabia
10-04-2025
- Business
- Trade Arabia
Majid Al Futtaim to launch 30 new lifestyle stores in 2025
Majid Al Futtaim, a leading shopping malls, communities, retail, and leisure pioneer in the region, has announced an ambitious expansion of its luxury retail portfolio for 2025. Following a record-breaking 2024, which saw a 26% growth in its lifestyle business, the expansion will be anchored by renowned Italian brands Eleventy, Corneliani, and Poltrona Frau, with a series of store openings planned across key locations in the UAE and Saudi Arabia. As part of its strategic growth agenda, Majid Al Futtaim will launch over 30 new stores, spanning both luxury and High Street brands across the region. The expansion will include five standalone Eleventy stores, the regional debut of Corneliani, and the first Poltrona Frau store outside the UAE in Saudi Arabia, said a statement from Majid Al Futtaim. The five standalone Eleventy stores are set to open in key locations in 2025, including, Solitaire Mall in Saudi Arabia, Mall of the Emirates, Marsa Al Arab, which all opened this month, with Dubai Mall and The Grove in the UAE to follow later in the year, it stated. Known for its commitment to sustainable practices, Eleventy reflects the growing consumer demand for quality and subtle sophistication, all under the 'Made in Italy' banner. This growth builds on Eleventy's successful presence in the region, which includes a shop-in-shop at THAT Concept Store, a pop-up at Mall of the Emirates, and its first standalone location in Marina Mall Abu Dhabi opened with Majid Al Futtaim in November 2024, it added. "In a region where customers have an abundance of choice, our ambition is to curate a portfolio of luxury brands that offer something truly distinctive," remarked Fahed Ghanim, the CEO of Majid Al Futtaim Lifestyle. "By introducing brands like Eleventy, Corneliani, and Poltrona Frau, we are bringing new dimensions to the luxury market - combining timeless craftsmanship with modern sensibilities that resonate with the refined tastes of our customers," stated Ghanim. Majid Al Futtaim, he stated, was further strengthening its partnership with Poltrona Frau, the iconic Italian luxury furniture brand, by introducing its first store in the region outside the UAE at Centria Mall, Riyadh, in May. Poltrona Frau, a key brand within Majid Al Futtaim's portfolio, achieved remarkable success in 2024, with its revenue increasing fivefold following the launch of its second UAE store at Mall of the Emirates. Italian luxury menswear brand Corneliani also made its regional store debut in April at Solitaire Mall, Saudi Arabia. Founded in 1930, Corneliani is one of Italy's oldest independent luxury brands, renowned for its meticulous craftsmanship and presence in over 70 countries. With the launch of its first standalone store in the Middle East, Majid Al Futtaim brings Corneliani's timeless suits and sophisticated casualwear to even more customers across the region, said Ghanim. Marco Baldassari, Co-Founder and Menswear Creative Director at Eleventy said: "Eleventy's philosophy of understated elegance and commitment to sustainability resonates strongly with the sophisticated Middle Eastern consumer." "We are excited to strengthen our partnership with Majid Al Futtaim, whose visionary approach to luxury retail is shaping a new vision with a growing focus on customer needs. Together, we aim to redefine luxury retail by offering timeless craftsmanship, sustainable practices, and innovative experiences," he added. Nicola Coropulis, CEO of Poltrona Frau, said: "Since partnering with Majid Al Futtaim more than two years ago, we have focused on strategic growth and elevating the customer experience across the region." "The revitalisation of our flagship store in Jumeirah and our successful debut at Mall of the Emirates have been key milestones in our journey," noted Coropulis.
Yahoo
21-02-2025
- Business
- Yahoo
Chess grandmaster Magnus Carlsen broke a dress code with jeans. Now he's selling them for charity
NEW YORK (AP) — Top-ranked chess player Magnus Carlsen is turning his controversial denim into some greens — for charity. The Norwegian chess grandmaster announced this week that he is auctioning off the Italian luxury brand jeans that started a dress code dispute at December's World Rapid and Blitz Chess Championships. Carlsen ultimately quit the New York competition after accepting a $200 fine while refusing to change his pants. While the tournament's governing body agreed to loosen the dress code, Carlsen is parting with his infamous britches. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. Chess fanatics and #JeansGate followers now have the chance to own Carlsen's pair of size 32 regular fit Corneliani jeans. The auction is scheduled to end March 1. Listed as pre-owned but in 'good' condition on eBay, the pants' highest offer was $8,100 as of Feb. 21. Proceeds will go to Big Brothers Big Sisters of America, a national youth-mentoring charity that carries out its mission through local chapters in neighborhoods across all 50 states and 12 countries. According to the auction, they will be used for 'youth mentorship at chess clinics, community events, and beyond, to build connection, belonging, and enrich the lives of young people through the game.' ___ Associated Press coverage of philanthropy and nonprofits receives support through the AP's collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP's philanthropy coverage, visit
The Hill
21-02-2025
- Business
- The Hill
Chess grandmaster Magnus Carlsen broke a dress code with jeans. Now he's selling them for charity
NEW YORK (AP) — Top-ranked chess player Magnus Carlsen is turning his controversial denim into some greens — for charity. The Norwegian chess grandmaster announced this week that he is auctioning off the Italian luxury brand jeans that started a dress code dispute at December's World Rapid and Blitz Chess Championships. Carlsen ultimately quit the New York competition after accepting a $200 fine while refusing to change his pants. While the tournament's governing body agreed to loosen the dress code, Carlsen is parting with his infamous britches. Chess fanatics and #JeansGate followers now have the chance to own Carlsen's pair of size 32 regular fit Corneliani jeans. The auction is scheduled to end March 1. Listed as pre-owned but in 'good' condition on eBay, the pants' highest offer was $8,100 as of Feb. 21. Proceeds will go to Big Brothers Big Sisters of America, a national youth-mentoring charity that carries out its mission through local chapters in neighborhoods across all 50 states and 12 countries. According to the auction, they will be used for 'youth mentorship at chess clinics, community events, and beyond, to build connection, belonging, and enrich the lives of young people through the game.' Associated Press coverage of philanthropy and nonprofits receives support through the AP's collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP's philanthropy coverage, visit
