Founded in Lebanon in 1996 by Yasser Beydoun, but now based in Dubai, Brand For Less have announced new stores for Kuwait and Oman during the fourth quarter.
Alongside the rest of the world, the Covid-19 health crisis damaged incomes and forced working from home in the Middle East. The restrictions led to increased card payments in three sectors. According to data from Visa, the American company reports that pharmacies, D.I.Y. and discount shops are all increasing revenue following the relaxation of total lockdown. This trend is prompting Brands For Less, the region’s main maxi-discounter (destocking, discount items) with 65 stores in the Middle East and a new outlet in Spain, to accelerate new store openings and pour investments into e-commerce.
The company will invest in a 30,000sq m semi-automated warehouse on the Jebel Ali Freezone site (UAE) and invest US$12M into e-commerce. The firm wished to become a true hybrid platform and not just a brick-and-mortar player, according to Yassef Beydoun. “For the moment, online sales represent only 20 per cent of business. Our goal is to reach 50 per cent.” Brands For Less is also reviewing the Central European market after opening in Spain.