Majid Al Futtaim Life-style is increasing into the posh house class | Techno Glob

Majid Al Futtaim has introduced a strategic partnership with century-old Italian luxurious furnishings model Poltrona Frau to increase 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 media, the highest officers of the main retail, shopping center, group and leisure pioneers within the Center East, Africa and Asia for his first entry within the Luxurious Residence 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 enlargement technique at a time after we are experiencing double-digit annual progress and is designed to speed up Majid Al Futtaim Life-style’s journey to rework buyer expertise within the area,” stated Fahed Ghanim, Chief Government Officer of Majid Al Futtaim life-style stated.

Poltrona Frau’s international enlargement 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 progress of 20 % year-on-year in 2022, pushed by a pointy improve within the model’s housing unit and a robust restoration in public initiatives.

“At Majid Al Futtaim, we’re always 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 sit up for an interesting journey forward as we construct the corporate’s model presence out there,” stated Ghanim.

As a part of Majid Al Futtaim Life-style’s enlargement plans for Poltrona Frau, the corporate will convey the legacy of Italian excellence to among the area’s premier buying 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 shall be expanded and redesigned, impressed by the legendary Poltrona Frau Through Manzoni showroom.

Poltrona Frau Chief Government Officer Nicola Coropulis stated 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 properties, places of work and public areas, based mostly on excellence in high quality and repair.

“We consider that Majid Al Futtaim Life-style’s huge ecosystem and its means to interpret the true spirit of a model and finally its individuals will assist take Poltrona Frau to the subsequent stage and speed up our progress technique throughout the area “, he stated.

The enlargement 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 vogue, house, multi-brand, specialty retail and wonder, 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 progress 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 nicely positioned to fulfill future calls for, leveraging its rising portfolio and multi-channel capabilities.

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