Fawaz Abdulaziz Alhokair, a Saudi Arabia-based retailer that franchises brands such as Zara and Marks & Spencer, is eyeing three to five acquisitions in the US and UK.

The retailer is expected to reveal the details of the acquisitions after 1 April 2014.

Fawaz Abdulaziz Alhokair strategy and investor relations director Rob Cass said they are looking at other opportunities and similar type of brands that they believe have got the capabilities to grow.

The retailer also plans to add 404 new stores owned by Alhokair in the next one year to its 1,885 stores spread across the Middle East.

From April 2014, the retailer plans to open approximately 200 new stores throughout Saudi Arabia, 42 in the US and 24 in Egypt.

Additionally, it plans to open 45 outlets specialising in Alhokair’s new value brand and 30 Blanco stores outside of Spain.

Cass said they open a store every 18 hours somewhere in the world, which means that the partner needs to be like-minded with the rate at which they grow.