Contract signed for a new store in Mirdif City Centre, Dubai
Over the past few years the Clas Ohlson brand has grown in strength to become one of the most popular brands in the Nordic region. Clas Ohlson will now take its first step outside of Europe by opening its first store via franchise in Dubai before summer.
As previously announced, Clas Ohlson has signed a franchising agreement with SYH Retail to establish the Clas Ohlson’s retail concept in the GCC region (Gulf Cooperation Council). SYH Retail is part of the Al Homaizi Group who has extensive experience of franchising in the region and whose existing partners include IKEA among other international brands.
Today it can be announced that SYH Retail has signed a contract with Majid Al Futtaim Properties to open the region’s first Clas Ohlson store in Mirdif City Centre in Dubai, United Arab Emirates. The Mirdif City Centre comprises a total of 430 stores and has 20 million visitors per year. The Clas Ohlson retail space will amount to a total of 1,326 square metres and the store is scheduled to open before summer 2014.
“Franchising is an addition to our growth strategy and an opportunity for us to expand into fast growing countries where it is custom to use a franchising partner. We are very pleased that Mirdif City Centre, one of the largest shopping centres in Dubai, will be the location of our first store in the GCC region”, says Klas Balkow, President and CEO Clas Ohlson.
As previously announced, two stores are planned to be established in the region in 2014. Following an evaluation of the initial stores, the ambition is to establish at least 20 stores across the region over a five-year period.
“Expertise and experience is crucial to success when entering into the GCC region, which makes Seda Bayarlar and her team at SYH Retail a valuable partner on this journey”, says Klas Balkow.
“As both a consumer living in the Middle East and also as a professional in the retail business, I am confident about the potential for Clas Ohlson to succeed in the region. Consumers in the Middle East are ready to welcome Clas Ohlson’s smart solutions into their homes”, says Seda Bayarlar, Managing Director, SYH Retail, Al Homaizi Group.
The overall target is set to establish a total of 12-17 new Clas Ohlson stores during fiscal year 2013/14. So far a total of eight new stores have been opened. Including the store in Dubai, the number of future store openings contracted amounts to a total of 11 stores. With its current 182 stores and 11 contracted stores, Clas Ohlson will have a total of 193 stores, of which 81 in Sweden, 68 in Norway, 31 in Finland, 12 in the UK and 1 in Dubai.
For further information, please contact:
Sara Kraft Westrell, Director of Information and IR, Clas Ohlson AB, +46 247 649 13
Future store openings
Sweden
Vimpeln Shopping Centre in Alingsås, scheduled to open in March 2014
Kungens Kurva in Stockholm, scheduled to open in April 2014
Barkarby Gate in Stockholm, scheduled to open in October 2014
Uddevalla Torp in Uddevalla, scheduled to open in spring 2015
Umeå Syd in Umeå, scheduled to open in March 2015
Finland
Puuvilla in Björneborg, scheduled to open in October 2014
Norway
Lilleaker in Oslo, scheduled to open in October 2014
Orkdal, scheduled to open in November 2014
Mandal, scheduled to open in November 2014
Sandefjord, scheduled to open in March 2015
Dubai (via franchise)
Mirdif City Centre in Dubai, scheduled to open before summer 2014
About Clas Ohlson
Clas Ohlson was founded in 1918 as a mail order business based in Insjön, Dalarna, Sweden. Today, the company has 182 stores in four countries and sales via the Internet, mail order, telephone and social media. Clas Ohlson helps its customers solve everyday practical problems with a range of affordable products in the five product areas: Hardware, Electrical, Home Multimedia and Leisure categories. The company is listed on the OMX Nordic Exchange and has approximately 4,300 employees. For further information about Clas Ohlson, visit http://about.clasohlson.com (financial information) or http://www.clasohlson.com/uk (e-commerce).
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