The Saudi retail conglomerate is moving forward with an ambitious expansion plan, aiming to open 57 food and beverage outlets and 50 retail stores in the next 12 to 16 months.
Over the past year, Alhokair has added a number of key, internationally-renowned brands to their portfolio including Kiko in the cosmetics space and Decathlon in the leisure and sports category. According to Marwan Moukarzel, Chief Executive Officer of Alhokair, the group is also aiming to add another two to three international brands over the coming weeks.
With a new financial year set to begin in April, the group intends to spend this year focusing on getting back to some normality. The group are opening their first Decathlon store in Saudi Arabia; it will occupy a space of 3,500sq m at the Mall of Arabia in Jeddah.
Moukarzel said: “With Ramadan around the corner and restrictions lifted recently, we can only be optimistic about the future. It would be interesting to see how fast the market goes back to normal.”
