Kiabi sets up shop in Saudi Arabia
Retailer Kiabi is focusing on expansion outside France, and recently inaugurated a new store in Riyadh, the capital of the Kingdom of Saudi Arabia.
Kiabi wishes to tackle the Middle-Eastern market and set up the new store inside a shopping mall in partnership with the Al Othaim Group, a Saudi family company operating in food and textile retail and real estate management.
Since 2015, ready-to-wear apparel retailer Kiabi opened 21 new stores worldwide, notably in the French Overseas Departments and Territories, Poland and Côte d'Ivoire, and is set to open in Tunisia soon.
"2015 clearly marks an acceleration of our international growth. Our strategy relies on three vectors: a focus in those markets that are accessible for Kiabi through a subsidiary; multi-channel franchising for the less accessible markets; and a purely online presence for market niches. Currently this strategy allows us to be physically present in 13 countries, and to service a total of 32 countries worldwide through our e-commerce site ", Christine Jutard, Kiabi's international leader said.
By 2020 Kiabi plans to generate 50% of its revenue outside France.
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