By
Reuters
Reuters
Published
Mar 28, 2011
Mar 28, 2011
Saudi Alhokair, Burberry to set up venture
By
Reuters
Reuters
Published
Mar 28, 2011
Mar 28, 2011
RIYADH | Sat Mar 26, 2011 3:03pm GMT
RIYADH (Reuters) - Saudi-based retailer Fawaz Abdulaziz Alhokair Co 4240.SE said on Saturday it had agreed to set up a joint venture with Burberry (BRBY.L) to market and sell the British luxury good group's products.
Alhokair will hold a 40 percent stake in the Riyadh-based company which is to sell Burberry goods in Saudi Arabia, Alhokair said in a statement to the bourse, without giving further financial details of the venture.
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