Majid Al-Futtaim expands luxury retail footprint in region
As part of its strategic growth agenda, Majid Al-Futtaim will launch more than 30 new stores, spanning both luxury and high- street brands across the region. The expansion will include five standalone Eleventy stores, the regional debut of Corneliani, and the first Poltrona Frau store outside the UAE in Saudi Arabia.
Fahed Ghanim, CEO of Majid Al-Futtaim Lifestyle, said: 'In a region where customers have an abundance of choice, our ambition is to curate a portfolio of luxury brands that offer something truly distinctive. By introducing brands like Eleventy, Corneliani, and Poltrona Frau, we are bringing new dimensions to the luxury market — combining timeless craftsmanship with modern sensibilities that resonate with the refined tastes of our customers.'
He added: 'At Majid Al-Futtaim, our work with luxury brands has been deeply rooted in THAT Concept Store, which has been instrumental in identifying and nurturing brands with the potential to thrive in this market. Eleventy's journey, from its initial shop-in-shop to standalone stores, is a testament to how we test, scale, and grow global luxury brands. This strategic approach allows us to continuously evolve the luxury retail experience, delivering fresh, distinctive offerings that resonate with our customers.'
The five standalone Eleventy stores opening in key locations this year include Solitaire Mall in Saudi Arabia, Mall of the Emirates, Marsa Al-Arab, which all open this month, with Dubai Mall and The Grove in the UAE to follow later in the year. This growth builds on Eleventy's successful presence in the region, which includes a shop-in-shop at THAT Concept Store, a pop-up at Mall of the Emirates, and its first standalone location in Marina Mall Abu Dhabi, which opened in November 2024.
Majid Al-Futtaim is further strengthening its partnership with Poltrona Frau, the iconic Italian luxury furniture brand, by introducing its first store in the region outside the UAE at Centria Mall, Riyadh, in May. Poltrona Frau achieved remarkable success in 2024, with its revenue increasing fivefold following the launch of its second UAE store at Mall of the Emirates
Italian luxury menswear brand Corneliani also made its regional store debut in April at Solitaire Mall in the Kingdom. Corneliani is one of Italy's oldest independent luxury brands, renowned for its meticulous craftsmanship and presence in more than 70 countries.
Marco Baldassari, co-founder and menswear creative director at Eleventy, said: 'Eleventy's philosophy of understated elegance and commitment to sustainability resonates strongly with the sophisticated Middle Eastern consumer. We are excited to strengthen our partnership with Majid Al-Futtaim, whose visionary approach to luxury retail is shaping a new vision with a growing focus on customer needs. Together, we aim to redefine luxury retail by offering timeless craftsmanship, sustainable practices, and innovative experiences.'
Nicola Coropulis, CEO of Poltrona Frau, said: 'Since partnering with Majid Al-Futtaim more than two years ago, we have focused on strategic growth and elevating the customer experience across the region. The revitalization of our flagship store in Jumeirah and our successful debut at Mall of the Emirates have been key milestones in our journey. We are now excited to bring this momentum to the Kingdom of Saudi Arabia with our first store in Riyadh, further solidifying our presence in the GCC and expanding our reach in this dynamic market.'
Majid Al-Futtaim's expansion in luxury retail builds on a record-breaking 2024, which saw a 26 percent increase in revenue across its portfolio and a 31 percent surge in digital sales. The year also marked the opening of 17 new stores across the region, bringing the total to 87 stores, including flagship locations for brands such as lululemon, Psycho Bunny, Shiseido, Crate and Barrel, and CB2, alongside 27 e-commerce platforms. Looking ahead, 2025 is set to be another milestone year for its lifestyle business, with plans to open 30 new stores across the region, including seven in Saudi Arabia — a key priority market for the group.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Saudi Gazette
11-07-2025
- Saudi Gazette
Riyadh's Creative District to welcome Italy's Istituto Marangoni
Saudi Gazette report RIYADH — The Royal Commission for Riyadh City (RCRC) has signed a strategic partnership agreement with the globally renowned Istituto Marangoni, officially marking the institute's entry into Riyadh's Creative District. The move reinforces the Saudi capital's growing stature as a global center for fashion, arts, and innovation. The partnership, announced on Thursday, was developed in collaboration with the Fashion Commission under the Ministry of Culture and is backed by the Ministry of Investment. Istituto Marangoni, headquartered in Milan and with branches in Paris, London, and Miami, will begin operations in Riyadh in August 2025. Founded in 1935, Istituto Marangoni is one of the world's leading academic institutions in fashion, design, and luxury brand management. Its Riyadh campus will offer advanced academic programs tailored to the needs of the Saudi and global fashion industries, while also integrating local cultural heritage and identity into international creative standards. The institute's launch follows comprehensive market studies aimed at identifying both national and global fashion education needs. A key goal is to equip a new generation of Saudi designers with the technical and creative skills to compete on the world stage. The programs will offer an immersive, interactive learning environment, rooted in Riyadh's fast-growing creative sector. 'The arrival of Istituto Marangoni reflects our commitment to transforming Riyadh into a leading destination for culture, creativity, and innovation,' said Eng. Mazen Ahmed Tammar, Acting Vice President of City Marketing and Investment Promotion at RCRC. 'Its programs will blend global best practices with Saudi identity to develop future leaders in fashion.' Italian Ambassador to Saudi Arabia Carlo Baldocci hailed the agreement as a milestone in strengthening creative cooperation between the Kingdom and Italy. Stefania Valenti, Group Managing Director of Istituto Marangoni, expressed gratitude for the robust support from Saudi partners and reaffirmed the institute's dedication to investing in Saudi talent and shaping a vibrant fashion ecosystem. As part of its rollout, the institute will offer a three-year diploma program for Saudi students, including 50 partial scholarships for high school graduates or equivalent, selected through a competitive process launched earlier this year. The initiative forms part of the broader Creative District vision announced by RCRC's Board of Directors in February. The first phase, located in the King Abdullah Financial District (KAFD), focuses on attracting global talent in media, performing and visual arts, and creative technologies.
Leaders
08-07-2025
- Leaders
Rome Gathers Global Leaders to Draw Ukraine's Path to Recovery
Ukraine's President Volodymyr Zelensky will attend a crucial conference in Rome this week, where world leaders and businesses will gather to bolster support for rebuilding Ukraine. This comes as US military aid falters, leaving Ukraine in a precarious position. The Ukraine Recovery Conference aims to mobilize investments, particularly from the private sector. The event will see the participation of EU chief Ursula von der Leyen and German Chancellor Friedrich Merz, in addition to fifteen heads of state and government will focus on Ukraine's long-term recovery. Ukraine hopes to secure agreements on energy and defense industry cooperation. Russian strikes have repeatedly targeted Ukraine's power grid, exacerbating the need for support. Zelensky Emphasizes Immediate Defense Needs Zelensky will meet Italy's President Sergio Mattarella on Wednesday, as he stressed Ukraine's urgent need to defend against intensifying Russian attacks. 'Ukrainian representatives will focus on immediate defense tasks,' Zelensky stated. The conference, an annual event since Russia's 2022 invasion, will open with a speech by Italian Prime Minister Giorgia Meloni. The United States, once Ukraine's biggest backer, will send the President's envoy, as Trump criticized the billions in support sent to Kyiv under the Biden administration. However, he recently announced additional weapons for Ukraine, despite halting some shipments. European countries have stepped up to fill the gap left by the US withdrawal. Analysts noted the war's potential longevity and the difficulty of securing sustained support. The World Bank estimates Ukraine's reconstruction will cost $524 billion over the next decade, a figure which is approximately 2.8 times Ukraine's estimated nominal GDP for 2024. However, the Italian government emphasized the necessity of private investors for this recovery. Over 2,000 companies, including 500 Italian firms, will attend the conference, with convincing investors remains challenging as the war continues. 'The recovery of our state is a real, daily process,' stated Oleksii Kuleba, Ukraine's recovery minister. New Approaches and Future Prospects The Trump administration has adopted a more transactional approach to Ukraine support. In April, Washington and Kyiv signed a landmark minerals deal. This agreement will jointly develop Ukraine's natural resources, with revenues going to a joint recovery fund. The Rome conference will also address Ukraine's EU aspirations and human capital challenges. Many Ukrainians have been called up to fight or have fled the country. Short link : Post Views: 14
Leaders
06-07-2025
- Leaders
Brazil Hosts BRICS Summit, Seeks to Avoid Provoking U.S. Under Trump
Brazil will host the BRICS summit of emerging economies Sunday and Monday, navigating sensitive issues such as Israel's recent attack on Iran, the humanitarian crisis in Gaza, and U.S. trade tariffs under former President Donald Trump with notable caution. Analysts and diplomats highlight challenges to BRICS' unity following its expansion last year, which doubled its membership and complicated efforts to position the bloc as a new global power center. The summit's restrained agenda is widely seen as a deliberate effort by member states to steer clear of provoking Trump's administration. Brazilian President Luiz Inácio Lula da Silva is prioritizing topics like artificial intelligence and climate change, even as several key leaders will be absent from the talks. China's President Xi Jinping will miss the BRICS summit for the first time since assuming office in 2012, while Russian President Vladimir Putin will participate via video link amid an international arrest warrant linked to Russia's invasion of Ukraine. Careful Language on Controversial Issues The Rio de Janeiro summit marks a contrast with last year's more confrontational meeting in Russia, where Moscow pushed to create alternatives to U.S.-dominated payment systems as a means to sidestep Western sanctions. A source involved in the summit's preparation, speaking anonymously, said some members have sought stronger language condemning the Gaza crisis and Iran-related tensions, but Brazil aims to keep discussions technical and low-profile. Oliver Stuenkel, a political science professor at Brazil's Getulio Vargas Foundation, expects the final statement to be deliberately vague on Ukraine and Middle Eastern conflicts. The absence of Putin and Xi, who favor a tougher anti-Western stance, is likely to soften the summit's tone, contrasting with Brazil and India's preference for a non-aligned approach. A Brazilian official told Reuters the group plans to issue three joint statements and a final declaration, all tempered to avoid escalating geopolitical tensions. João Alfredo Nyegray, a geopolitics expert at the Pontifical Catholic University of Paraná, said the summit had the potential to offer an alternative voice amid global instability but is hampered by the withdrawal of Egypt's President Abdel Fattah al-Sisi and uncertain representation from Iran, Saudi Arabia, and the UAE. 'This moment calls for high-level coordination, but instead we see fragmentation,' Nyegray noted. Brazil Cautious Amid U.S. Trade Concerns As chair of BRICS, Brazil has outlined six strategic priorities: healthcare cooperation, trade and investment, climate change, governance of artificial intelligence, peace and security, and institutional development. The emphasis on less contentious topics like intra-BRICS trade and global health reflects Brazil's cautious approach after Trump's return to the White House. Ana Garcia, a professor at the Federal Rural University of Rio de Janeiro, said Brazil is keen to avoid antagonizing the Trump administration to protect its economy from tariff retaliation. Trump has threatened to impose 100% tariffs on BRICS countries should they challenge the dominance of the U.S. dollar — a risk Brazil is working hard to avoid, even as it continues to call for reform of Western-led global institutions. Key Leaders Absent as BRICS Expands Iranian President Masoud Pezeshkian and Egypt's Abdel-Fattah el-Sissi will also be absent. Both countries joined BRICS in 2024 alongside Ethiopia, Indonesia, and the UAE. Saudi Arabia, invited to participate in discussions, has yet to confirm its membership. With the bloc now including 10 strategic partners — such as Belarus, Cuba, and Vietnam — Brazil has added 'institutional development' to the agenda to manage the group's rapid growth and improve cohesion. Despite the absences, the summit remains a critical forum for emerging economies to explore alternatives amid geopolitical and economic uncertainty caused by Trump-era trade policies, according to Bruce Scheidl, a BRICS expert at the University of Sao Paulo. For Lula, the summit offers a respite from domestic political challenges, including declining popularity and tensions with Congress. It also provides a platform to advance climate negotiations ahead of the COP30 talks scheduled for November in Belém, Brazil. Related Topics: Brazil to Host Next BRICS Summit in Rio de Janeiro Saudi Arabia's Entry into BRICS: What Does It Mean for the Global South? Russian First Deputy PM Comments on Saudi Arabia Joining BRICS Short link : Post Views: 158
