Kingfisher partners with Al-Futtaim Group to expand B&Q into Middle East
Kingfisher has signed a franchise agreement with the Al-Futtaim Group to enable it to expand DIY retailer B&Q into the Middle East.
Operated and staffed by the Al-Futtaim Group, the first two franchised B&Q stores are expected to launch in Saudi Arabia this autumn and will also have an ecommerce proposition. Spanning 50,000 square feet, they will stock a full range of locally and internationally sourced home improvement products, as well as items from Kingfisher brands Erbauer, Magnusson and GoodHome.
Thierry Garnier, chief executive of Kingfisher, said: “This franchise agreement leverages our ‘Powered by Kingfisher’ plan, and is a great opportunity to expand our business in the attractive Middle Eastern home improvement market with B&Q, one of our most established retail banners, as well as our differentiated owned exclusive brands. I am delighted to be working with Al-Futtaim on this step in our plan.”
The Al-Futtaim Group operates a large portfolio of businesses across a range of sectors including over 200 brands across more than 20 countries in the Middle East, Asia and Africa. It has operated retail franchises in the Middle East for Marks & Spencer since 1998 and for IKEA since 1991.
John Wartig, chief transformation and development officer at Kingfisher, said: “With the Al-Futtaim Group we have found the pre-eminent operator of retail franchises in the Middle East. They are a well-established and successful local partner who knows the market well, and are a strong partner with whom we can take our franchise plans forward. We are looking forward to working with them and introducing new customers to the trusted B&Q banner, as well as Kingfisher’s exclusive product brands.”
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