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Clas Ohlson AB Expands Internationally through Franchising in GCC Region


Wednesday, 4 Sep 2013 02:05am EDT 

Clas Ohlson AB announced that the Company has signed a franchising agreement with SYH Retail, Al Homaizi Group Company, regarding the establishment of Clas Ohlson’s retail concept in the Gulf Cooperation Council (GCC) region, which includes the United Arab Emirates, Kuwait, Saudi Arabia, Qatar, Oman and Bahrain. The agreement pertains to the establishment of first two stores in United Arab Emirates or Kuwait with opening scheduled during 2014. Following an evaluation of the initial stores that are established there, the ambition is to establish at least 20 stores in the region over a five-year period. Clas Ohlson stated that the Company's sights are set on continued international expansion. Through franchising, as a complement to Clas Ohlson’s primary establishment strategy based on wholly owned operations, additional growth opportunities can be created in new markets. 

Company Quote

133.25
-1.25 -0.93%
19 Dec 2014