Kingfisher has signed a franchise agreement with the Al-Futtaim Group to expand B&Q in the Middle East.
The stores will operate under the B&Q banner, with the first two stores expected to launch in Saudi Arabia in Autumn 2021, supported by an e-commerce proposition. The stores will be fully operated and staffed by the Al-Futtaim Group.
The first B&Q stores in Saudi Arabia will be approximately 50,000sq ft and stock a full range of home improvement products. The offer will include Kingfisher’s portfolio of own exclusive brands, Erbauer, Magnusson and GoodHome, alongside locally and internationally sourced product ranges.
Thierry Garnier, CEO of Kingfisher plc, said: “This franchise agreement leverages our ‘Powered by Kingfisher’ plan, and is a great opportunity to expand our business in the attractive Middle Eastern home improvement market with B&Q, one of our most established retail banners, as well as our differentiated owned exclusive brands. I am delighted to be working with Al-Futtaim on this step in our plan.”
Regis Schultz, President – Retail, Al-Futtaim Group, said: “Over the past nine decades, the Al-Futtaim Group has grown and diversified its business offering in order to deliver on our commitment of enriching the lives of our customer every day. We are excited to partner with Kingfisher, one of the most experienced home improvement retailers, to bring another trusted powerhouse to our customers in Saudi Arabia.”
