Latest news with #FahedGhanim
Arab News
3 days ago
- Business
- Arab News
Majid Al-Futtaim brings Italian furniture brand Poltrona Frau to KSA
Majid Al-Futtaim, a shopping malls, communities, retail, and leisure pioneer across the Middle East, Africa, and Central Asia, has announced the opening of Poltrona Frau's first standalone store in Saudi Arabia at Centria Mall in Riyadh, marking a key milestone in the brand's regional growth. The store marks Poltrona Frau's third location in the GCC and part of Majid Al-Futtaim's broader strategy to expand its premium home offering across the Middle East. Located on the first floor of Centria Mall, Riyadh's premier destination for luxury and international fashion, the new 320-square-meter store offers curated lifestyle settings and a dedicated material library, which offers clients a hands-on opportunity to customize their interiors with an haute couture approach. Inspired by the warmth and intimacy of a contemporary home, the space was designed by multidisciplinary studio AMDL CIRCLE under the direction of architect Michele De Lucchi, and features layered textures, warm tones, and artisan-crafted details. Fahed Ghanim, CEO of Majid Al-Futtaim Lifestyle, said: 'Saudi Arabia is a key growth market for Majid Al-Futtaim and Poltrona Frau, as demand for premium, design-led living continues to rise. This opening builds on the brand's strong momentum following the world's first mall-based Poltrona Frau store at Mall of the Emirates and the launch of its localized e-commerce platform. It reflects our strategy to scale global brands across the region while delivering curated, high-quality omnichannel experiences.' Nicola Coropulis, CEO of Poltrona Frau, said: 'Following successful openings in Kuala Lumpur, Bangkok and São Paulo, our presence in Riyadh strengthens our position in a region increasingly aligned with our values of timeless elegance and artisanal quality. In partnership with Majid Al-Futtaim, this flagship store in Saudi Arabia will support both our residential and contract business growth, enabling us to serve both private clients and large-scale projects across hospitality, corporate, and public spaces.' The new flagship store will feature Poltrona Frau's most celebrated icons, including the 1919 armchair, the Vanity XC armchair, the Archibald sofa, pieces from The Five Seasons Collection of 2025 and highlights from the 2024 Imagine Collection. The Blisscape Sofa by Ludovica Serafini + Roberto Palomba, will be unveiled for the first time regionally, following its debut at the Salone del Mobile and its direct arrival from the Milan flagship store. Also on display is the Mallorca Rug from Sahrai's Underwaterlife summer collection, alongside products from Ceccotti Collezioni, the Tuscan woodworking atelier acquired by Poltrona Frau in 2018. To mark the opening, a Poltrona Frau master artisan will demonstrate the brand's handcrafting techniques live in-store, providing a rare glimpse into the savoir-faire that has defined the brand for over a century. The activation echoes the values of L'Atelier dei Saperi, a recently launched initiative aimed at preserving and passing on artisanal skills through intergenerational mentorship. Poltrona Frau's entry into the Saudi market marks a strategic milestone in its regional expansion, reinforcing the brand's commitment to meeting the growing demand for timeless, design-led living across the GCC. In partnership with Majid Al-Futtaim, the brand is set for sustained growth as it continues to strengthen its presence in the region's most influential luxury destinations.
Gulf Business
14-05-2025
- Business
- Gulf Business
30 new stores across GCC: Inside of Majid Al Futtaim's expansion
As part of a strategic expansion, Read- 'These openings reflect our continued investment in building a strong, differentiated luxury fashion and home portfolio in high-performing destinations,' said Fahed Ghanim, CEO of Majid Al Futtaim Lifestyle. The new Eleventy stores include recent openings at Solitaire Mall in Riyadh, Mall of the Emirates, and Marsa Al Arab, with upcoming launches at The Dubai Mall and The Grove. Corneliani made its regional debut at Solitaire Mall in April, while Poltrona Frau will open its first standalone store in the Kingdom at Centria Mall, Riyadh. Growth momentum extends beyond UAE 'Our footprint of 90+ stores already spans the GCC, including Kuwait, Qatar, and Oman, with brands like lululemon, Hollister, Abercrombie & Fitch, and LEGO,' Ghanim said. 'We're building on this momentum by introducing the first Psycho Bunny stores in Qatar and Kuwait, following its success in the UAE.' Ghanim added that Eleventy has seen strong traction in Abu Dhabi, Dubai, and Riyadh, and that Poltrona Frau's performance in the UAE further validates expansion into Saudi Arabia. Strategic brand selection Majid Al Futtaim's approach to luxury retail is guided by customer preferences for authenticity, craftsmanship, and modern luxury. The selection of Eleventy, Corneliani, and Poltrona Frau for standalone stores reflects their appeal to today's discerning consumers. 'Our experience through THAT Concept Store has been instrumental in identifying and nurturing high-potential brands. Eleventy started as a shop-in-shop concept and has now evolved into multiple standalone boutiques,' Ghanim said. Majid Al Futtaim Lifestyle recorded 26 per cent overall growth in 2024, expanding to over 90 stores and 27 e-commerce platforms across the GCC. The fashion segment alone saw 25 per cent growth, driven by brand momentum and localized strategies. In the home category, year-on-year growth reached 36 per cent, led by consumer demand for premium, design-led living. Poltrona Frau, in particular, achieved a fivefold revenue increase last year. The company anticipates continued double-digit growth in 2025. Shifting preferences and a new definition of luxury Consumers in the Middle East increasingly value timeless style, personal relevance, and enduring quality over overt branding. Eleventy's emphasis on understated luxury and craftsmanship aligns with this evolving demand. 'We're adapting by designing more immersive and intentional retail experiences,' said Ghanim. Younger consumers are redefining retail with demands for speed, transparency, and seamless, personalised experiences. Majid Al Futtaim is responding with technologies like WhatsApp commerce and data-driven personalisation. 'These behaviors are pushing us to be sharper, faster, and more relevant — and that's a good thing for the industry,' Ghanim said. THAT Concept Store exemplifies the shift toward curated, experience-driven retail. Customers can book personal styling sessions, beauty appointments, and use click-and-collect features via the app. In-store offerings include grooming, tailoring, gift-wrapping, and live brand activations. UAE and Saudi Arabia: Key growth markets The UAE and Saudi Arabia continue to offer significant opportunities for luxury brands due to their youthful demographics, rising purchasing power, and cultural openness to global trends. 'These are not just luxury markets; they are fast-evolving ecosystems demanding authenticity, agility, and cultural relevance,' said Ghanim. Rather than focusing on competitors, Majid Al Futtaim prioritizes brand curation, customer connection, and local relevance to stay ahead. 'We're not looking sideways — our focus is on being meaningfully different,' Ghanim noted. Cultural identity shapes brand strategy Marco Baldassari, Co-Founder and Menswear Creative Director at Eleventy, emphasized the importance of cultural adaptation: 'We stay true to our DNA but tailor our offerings — richer color palettes, lighter fabrics — to suit local preferences.' 'The decision to expand into the UAE and Saudi Arabia goes beyond market entry — it's about engaging with cultures that value craftsmanship and refined aesthetics,' said Baldassari. 'Dubai's international community and Riyadh's rising fashion scene make both cities ideal for our global strategy.'
Arab News
24-04-2025
- Business
- Arab News
Majid Al-Futtaim expands lifestyle retail footprint across Saudi Arabia
Majid Al-Futtaim, a leading shopping malls, communities, retail, and leisure pioneer across the Middle East, Africa, and Central Asia, has announced the expansion of its lifestyle retail footprint in Saudi Arabia. As part of its continued commitment to the Saudi market, the group's lifestyle business plans to open 13 new stores in 2025 — five already launched — bringing its total store count in the Kingdom to 31. The expansion features a mix of global lifestyle and luxury brands across Riyadh and Jeddah. This includes the launch of the first Saudi stores for Italian smart luxury brand Eleventy and luxury menswear label Corneliani, both of which debuted this month at Solitaire Mall, Riyadh. In May, Poltrona Frau — the iconic Italian luxury furniture house — will open its first store outside the UAE at Centria Mall, further reinforcing Majid Al-Futtaim's commitment to growing its luxury presence in the Kingdom. Abercrombie and Fitch and lululemon also opened new stores in Solitaire Mall last month, marking an important step in their continued regional growth. The brands now operate six and nine stores respectively across the Kingdom, with new locations set to open in Jeddah later this year. Fahed Ghanim, CEO of Majid Al-Futtaim Lifestyle, said: 'Saudi Arabia continues to be a core focus for our business, and our retail expansion reflects both growing consumer demand and our confidence in the market. From fashion and wellness to home and design, our goal is to deliver more of the brands our customers love — while introducing fresh experiences through our exclusive global partnerships.' 'In a region where customers have an abundance of choice, our ambition is to curate a portfolio of global lifestyle and luxury brands that offer something truly distinctive in the Kingdom. 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.' The launch of Eleventy in Solitaire Mall is part of an ambitious regional expansion for the brand with another four standalone Eleventy stores opening in key locations in 2025, including Mall of the Emirates, Marsa Al-Arab, Dubai Mall and The Grove in the UAE. Known for its commitment to sustainable practices and premium materials, Eleventy reflects the growing consumer demand for quality and subtle sophistication, all under the 'Made in Italy' banner. 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.' Majid Al-Futtaim's lifestyle portfolio will also welcome a new Crate and Barrel store at Sahara Mall, Riyadh, reinforcing the brand's presence in the capital. Meanwhile, in Jeddah, five new stores will launch at Jawharat Mall, including lululemon, Hollister, Eleventy, Abercrombie and Fitch, and AllSaints — bringing some of the world's most in-demand fashion and lifestyle brands even closer to Saudi customers. Majid Al-Futtaim's retail expansion in Saudi Arabia builds on a record-breaking 2024, which saw a 26 percent increase in revenue across its lifestyle portfolio and a 31 percent surge in digital sales — including a 22 percent uplift in Saudi Arabia alone. The year also saw the opening of 17 new stores across the region, five of which are in the Kingdom, as well as flagship locations for brands such as lululemon, Crate and Barrel, and CB2, alongside 27 e-commerce platforms.
Gulf Business
14-04-2025
- Business
- Gulf Business
Majid Al Futtaim to launch over 30 new stores in GCC
Image credit: Supplied photo Majid Al Futtaim has announced an ambitious expansion of its luxury retail portfolio for 2025. The regional pioneer in shopping malls, communities, retail, and leisure across the Middle East, Africa, and Central Asia reported a record-breaking 2024, with a 26 per cent growth in its lifestyle business. Read- This 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. Launch of new stores As part of its strategic growth agenda, Majid Al Futtaim will open over 30 new stores across the region, spanning both luxury and high street brands. The expansion includes five standalone Eleventy stores, the regional debut of Corneliani, and the first Poltrona Frau store outside the UAE, to be launched in Saudi Arabia—showcasing Majid Al Futtaim's commitment to strengthening its footprint in the luxury retail sector. '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,' said Fahed Ghanim, CEO of Majid Al Futtaim Lifestyle. Ghanim 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 strong market potential. Eleventy's journey—from its initial shop-in-shop to standalone stores—is a testament to our strategy of testing, scaling, and growing global luxury brands. This approach enables us to continuously evolve the retail experience and deliver distinctive offerings that resonate with our customers.' Five standalone Eleventy stores set to open The five standalone Eleventy stores are scheduled to open in 2025 at key locations including Solitaire Mall in Saudi Arabia, Mall of the Emirates, and Marsa Al Arab—all of which opened this month—with Dubai Mall and The Grove (UAE) to follow later this year. Known for its sustainable practices and premium materials, Eleventy reflects a growing consumer preference for quality and understated sophistication, under the 'Made in Italy' banner. This expansion builds on Eleventy's existing regional presence, which includes a shop-in-shop at THAT Concept Store, a pop-up at Mall of the Emirates, and its first standalone location at Marina Mall Abu Dhabi, opened with Majid Al Futtaim in November 2024. Strengthening partnership with Poltrona Frau Majid Al Futtaim is also strengthening its partnership with Poltrona Frau, the iconic Italian luxury furniture brand, by opening its first store outside the UAE at Centria Mall, Riyadh, in May. Poltrona Frau achieved remarkable growth in 2024, with revenue increasing fivefold following the launch of its second UAE store at Mall of the Emirates. Corneliani makes regional debut in Saudi Arabia Italian menswear brand Corneliani made its regional store debut in April at Solitaire Mall in 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 is bringing Corneliani's timeless suits and sophisticated casualwear to a broader audience in the region. '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 standard focused on customer needs,' said Marco Baldassari, Co-Founder and Menswear Creative Director at Eleventy. 'Since partnering with Majid Al Futtaim more than two years ago, we've focused on strategic growth and elevating the customer experience. The revitalisation of our flagship store in Jumeirah and our debut at Mall of the Emirates were key milestones. We're now excited to bring this momentum to the Kingdom of Saudi Arabia with our first store in Riyadh—further strengthening our presence in the GCC,' added Nicola Coropulis, CEO of Poltrona Frau. Continuing momentum in 2025 Majid Al Futtaim's expansion in luxury retail builds on a record-setting 2024, which saw a 26 per cent increase in revenue and a 31 per cent surge in digital sales across its lifestyle portfolio. StLast year also saw the opening of 17 new stores across the region, bringing the total to 87—featuring flagship locations for brands such as lululemon, Psycho Bunny, Shiseido, Crate & Barrel, and CB2, alongside 27 e-commerce platforms. Looking ahead, 2025 is poised to be another milestone year, with plans to open 30 new stores across the region—including seven in Saudi Arabia, a key market for the group.
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.
