Majid Al Futtaim Life-style expands into luxurious housing class – Information | Techno Glob


Majid Al Futtaim Life-style has acquired the rights to Poltrona Frau merchandise within the United Arab Emirates, marking its first entry into the posh residence class



Fahed Ghanim, Chief Executive Officer of Majid Al Futtaim Lifestyle, and Nicola Coropulis, Chief Executive Officer of Poltrona Frau.  — Included photo

Fahed Ghanim, Chief Govt Officer of Majid Al Futtaim Life-style, and Nicola Coropulis, Chief Govt Officer of Poltrona Frau. — Included photograph

Launched: Wed Jan 25, 2023 at 6:10 p.m

Final up to date: Wed Jan 25, 2023 6:11pm

Majid Al Futtaim has introduced a strategic partnership with century-old Italian luxurious furnishings model Poltrona Frau to develop its operations into the posh housing class.

Majid Al Futtaim Life-style has acquired the rights to Poltrona Frau merchandise within the United Arab Emirates, reaching out to pick out media, the highest officers of the main retail, shopping center, neighborhood and leisure pioneers within the Center East, Africa and Asia for his first entry within the Luxurious Dwelling class.

“We’re delighted to welcome Poltrona Frau’s Italian masterpieces to Majid Al Futtaim Life-style’s rising assortment of worldwide, world-class manufacturers. This partnership helps our geographic and model growth technique at a time after we are experiencing double-digit annual development and is designed to speed up Majid Al Futtaim Life-style’s journey to remodel buyer expertise within the area,” mentioned Fahed Ghanim, Chief Govt Officer of Majid Al Futtaim life-style mentioned.

Poltrona Frau’s world growth methods have resulted within the model turning into an internationally influential benchmark with 15 flagship shops, 165 single-brand shops and round 280 multi-brand shops on all 5 continents. The Italian model reported gross sales development of 20 % year-on-year in 2022, pushed by a pointy improve within the model’s housing unit and a powerful restoration in public tasks.

“At Majid Al Futtaim, we’re consistently searching for distinctive diversification alternatives that complement our present portfolio with manufacturers that require their very own distinct methods. Partnering with Poltrona Frau is a testomony to this pioneering spirit and we stay up for an enchanting journey forward as we construct the corporate’s model presence out there,” mentioned Ghanim.

As a part of Majid Al Futtaim Life-style’s growth plans for Poltrona Frau, the corporate will convey the legacy of Italian excellence to a few of the area’s premier purchasing locations, together with the opening of a Poltrona Frau flagship showroom on the Mall of the Emirates later this yr.

As well as, the model’s present Jumeirah retailer will likely be expanded and redesigned, impressed by the legendary Poltrona Frau By way of Manzoni showroom.

Poltrona Frau Chief Govt Officer Nicola Coropulis mentioned the partnership with Majid Al Futtaim is step one in a journey geared toward solidifying Poltrona Frau as the last word luxurious life-style model within the UAE and Center East the elite to offer clients with unique options for his or her houses, places of work and public areas, primarily based on excellence in high quality and repair.

“We imagine that Majid Al Futtaim Life-style’s huge ecosystem and its skill to interpret the true spirit of a model and in the end its individuals will assist take Poltrona Frau to the subsequent stage and speed up our development technique throughout the area “, he mentioned.

The growth of Majid Al Futtaim Life-style enhances the Group’s present portfolio of eight main franchise manufacturers, two home manufacturers and greater than 70 shops within the GCC international locations spanning style, residence, multi-brand, specialty retail and sweetness, in addition to 18 On-line Enterprise Platforms.

Over the previous 5 years, Majid Al Futtaim Life-style has up to date its portfolio technique and the corporate has achieved numerous milestones, together with double-digit year-over-year development and gross sales of greater than $217 million in 2022 alone.

With the brand new model acquisition and an formidable plan for 2023, Majid Al Futtaim Life-style is now effectively positioned to fulfill future calls for, leveraging its rising portfolio and multi-channel capabilities.

— muzaffarrizvi@khalejtimes.com



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