The agreement will see the progressive development of the brands through Master Franchisers FZCO's sister company ISSCO (International Specialised Stores Co.) who are based in Riyadh, Saudi Arabia and recognized as one of the fastest growing retail groups in the region.
Commenting on the agreement, Mr Chan Kwai Heng, Finance Director of Padini Holdings Berhad said: "This Agreement signals the strong commitment that Padini Holdings Berhad has for the development of its Seed and Padini Authentics labels in the Kingdom of Saudi Arabia. The Group believes that this tie-up with Master Franchisers FZCO will be contributing very positively towards the growth and development of the two brands in the Kingdom."
"The Middle East represents one of the major launch pads for Padini Holdings Berhad into International markets and we are looking forward to contributing to the company's growth in the region", said Mr. Roger Francis, General Manager, Master Franchisers FZCO.
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Master Franchisers FZCO cement franchise agreement with leading Malaysian brands, SEED and Padini Authentics
- United Arab Emirates: Thursday, October 13 - 2005 at 11:21
- PRESS RELEASE
Master Franchisers FZCO, today announced that a franchise agreement has been signed with Padini Holdings Berhad for SEED and Padini Authentics in Saudi Arabia.
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For more information about the contents of this press release please contact - Natasha Bartlett-Twivey, Activity & Communications Manager at Master Franchisers FZCO on +971 4 2953488About Padini Holdings Berhad
As a major force in Malaysia's multi-billion textile and garment industry, Padini Holdings Berhad, a public listed company, has grown to become one of Malaysia's brand leaders, involved in the distribution and retail of its own fashion labels through over 148 freestanding and in-house outlets.
Its portfolio geared towards fashion-conscious consumers of both sexes and all ages includes- Padini, Padini Authentics, Miki, PDI, P&Co, Vincci and Seed.
www.padini.com
About Master Franchisers FZCO
Master Franchisers FZCO, based in Dubai, United Arab Emirates, are held by a Saudi group of companies who have pioneered several sectors of the Saudi retail industry in the past 55 years.
The company holds a combination of brands and concepts for which it is either franchiser or master franchisee for the Middle East.
Its portfolio includes - LuluCastagnette, Zerga and Bed & Bath.
Posted by Anne-Birte Stensgaard, Senior News EditorThursday, October 13 - 2005 at 11:21 UAE local time (GMT+4)
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