Under the agreement, Saudi’s Alhokair will launch the French electronics giant in the kingdom next year.
Fawaz Abdulaziz Alhokair Co, the Saudi-based franchise retailer, has signed an agreement with European electronic and cultural retailer, Fnac Darty to expand into the Gulf kingdom. Set to open its doors in 2022, the first Fnac store in Saudi Arabia will showcase multi-brand consumer electronics, household appliances, stationery, books, cultural and lifestyle products.
Marwan Moukarzel, CEO of Fawaz Abdulaziz Alhokair Co, said: “This strategic partnership with a leading retailer of the calibre of Fnac Darty is perfectly in line with our objective to diversify our brand portfolio and drive sustainable growth. The European retailer’s strategic focus on building a strong customer base with evolving experiences around electronics, multimedia and lifestyle categories, is a major milestone in Alhokair’s journey to become the lifestyle retail partner of choice in Saudi Arabia.”
Enrique Martinez, CEO of Fnac Darty, said: “We will share our expertise and passion for technical and cultural products and team up to build the best enriched proposition for Saudi customers… This deal is a great opportunity for our Group, for our partner and for future customers.”
