Fawaz Abdulaziz Alhokair & Company today announced robust sales turnover for the six months ended 30th September 3006. The Company reported sales turnover of SR 703 million, registering a growth of 20% when compared to the same period of last year.
Commenting on the sales results, Dr. Abdulmajeed Alhokair, CEO, Fawaz Abdulaziz Alhokair & Company said: “We are pleased to announce our first half yearly sales figures which are in line with our expectations. With our successful and proven mid-market brand strategy, we aim to achieve an annual growth of 25% on sales before we complete the current financial year”.
Gerry Waters, Chief Operation Officer, Fawaz Abdulaziz Alhokair & Company said: “The sales growth has mainly come from existing brands through additional stores and organic growth. Our line up of 15 international brands will add phenomenal value to our business and help serve our discerning customers.”
He also mentioned that Zara continued to be the top performer brand with SR 137 million sales turnover and 21% growth. Bershka, an apparel brand from Inditex group which was launched last year showed a promising performance with SR 27 million sales in the current half year. Vero Moda registered a growth of 65% and had the highest like-for-like growth of 37%.
Gerry Waters added: “We are happy that our business objectives are being met through marketing strategies aligned with successfully promoting the latest trends in the Fashion Retail Industry in the Kingdom. Our retail brand portfolio targets a wide and dynamic customer base and through careful segmentation and targeted marketing initiatives, we are able to drive sales effectively.”
“Our customer franchise is loyal to the brands they prefer and at Alhokair we ensure that their expectations are managed to the standards they expect from a world-class retailer,” Gerry Waters concluded.
Last week Fawaz Abdulaziz Alhokair & Company announced that it will launch 15 new fashion brands in the Kingdom over the coming few months. The Company has powerhouse line-up of 42 brands (as at 31/03/06) – including the likes of Zara, Massimo Dutti, La Senza, Celio, Adams and many others.
Alhokair strongly believes that there are extensive opportunities for growth in the Saudi fashion retail market. Central to its long-term mid-market brand strategy, the company is focused on offering the latest and most successful global brands to consumers in the Kingdom through win-win franchise relationships.
Table1: Fawaz Abdulaziz Alhokair And Company market share
Company Womens wear Footwear Childrens wear Means wear Eyewear Market
Alhokair 48.4% 66.9% 49.3% 37.9% 2.0% 48.3%
Competition 51.6% 33.1% 50.7% 62.1% 98.0% 51.7%
Source: Euromonitor
About Fawaz Abdulaziz Alhokair & Company
Fawaz Abdulaziz Alhokair & Company is one of the fastest growing and dynamic enterprises in the Kingdom of Saudi Arabia employing more than 2500 people. It has a reputation built on innovation and successful fashion retail franchising and trades over 42 brands through a network of 617 stores. In 2005/06 the Company had a turnover of SAR 1.293 billion, served more than 12 million customers and sold over 15 million items. The Company has built its success on forging alliances with the world’s most successful fashion retail brands including: Zara, Massimo Dutti, La Senza, Aldo, Nine West, Promod and Wallis. Its fresh approach to retailing is meeting the needs of a fast-growing and increasingly cosmopolitan Saudi population. The Company’s unique ability to spot trends and identify international brands that appeal most to Saudi consumers has resulted in the perfect meeting of demand and supply.
