September 26, 2012

Clothing retailer Penshoppe to open 54 stores in Middle East region

Philippines-based clothing retailer and a flagship brand of Golden ABC, Penshoppe, plans to expand its retail presence in Middle East region.

By RBR Staff Writer

Philippines-based clothing retailer and a flagship brand of Golden ABC, Penshoppe, plans to expand its retail presence in Middle East region.

The retailer will open 54 new stores over next five years with the first store to be unveiled at the Reef Mall in Deira, Dubai on 15 October 2012.

Penshoppe’s second store in Dubai will open at the new Hamsah Commercial Complex in December 2012, reported Inquirer Business.

KN Retail, a unit of KN Interior Design will be Penshoppe’s franchisee for Dubai, Abu Dhabi and Sharjah.

The opening of the two stores in Dubai will bring the number of Penshoppe stores in the Middle East to 10 alongside its seven stores in Saudi Arabia and one in Manama, Bahrain.

Golden ABC business development vice president Albert On told the website that over a period of five years, the company intends to expand its presence in these markets and break into new markets like Qatar, Kuwait, Oman, Jordan and Israel.

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Over the next five years, Penshoppe’s store network in the UAE will expand to 12, of which four will open in 2013-2014 in the emirates of Abu Dhabi, Sharjah and Fujairah.

The retailer also plans to enter the Israeli market and open stores in Tel Aviv, Haifa, Ramla and Nazareth from 2013 to 2018.

Continuing its expansion plans, Penshoppe had announced a franchising deal in Indonesia last week, where at least 150 stores are expected to come up over the next 10 years.

Established in Cebu in 1986, Golden ABC now operates 600 stores in the Philippines and owns brands which include Oxygen, ForMe, Memo, Regatta, Tyler and direct-selling subsidiary Red Logo.