Marks & Spencer enters Saudi Arabia market
Marks and Spencer open the world’s first lingerie and beauty store in Riyadh, Saudi Arabia.
This is all part of the retailers strategy to expand internationally. The new store will be operated under existing franchise partner Al Hokair and opened on the 13 March in Khurais, Riyadh’s leading shopping mall. The opening of the second store at the mall of Dhahran in Dammam on 17 March followed this.
Lingerie now accounts for over a fifth of the retailer's sales at its 14 full-line stores in Saudi Arabia. M & S said the new concept would capitalise on the growth opportunities in the Saudi lingerie and beauty markets, where its lingerie sales increased by 17 per cent during the last year.
The retailer plans to open a further eight standalone stores in Saudi Arabia in the next two years, in addition to its two new full-line stores in Jeddah and Riyadh opening this summer.