Borders(R) and Al Maya Group sign Memorandum of Understanding for Borders Franchise in United Arab Emirates and other Gulf Cooperation Council Countries

It is to establish a franchise arrangement under which Al Maya will operate Borders stores in the United Arab Emirates and other Gulf Cooperation Council (GCC) countries.

The first of what is expected to be multiple Borders stores in the United Arab Emirates will be located in Dubai at Deira City Centre, the premier shopping center in the GCC. The Borders stores will offer a vast array of book titles in English and Arabic. Borders will provide training and marketing support to Al Maya. The store will be operated by Al Maya consistent with the Borders brand experience. Terms and conditions of the anticipated agreement will not be disclosed.

"We look forward to expansion into United Arab Emirates as an extension of the successful franchise experience we have with Berjaya Group in Malaysia," said Rick Vanzura, president of Borders Group international and Paperchase worldwide. "Borders Group's international expansion is a key part of our company's overall growth strategy and franchising will accelerate this process," he continued. "We're pleased to be working with Al Maya, a company that is respected for its retail expertise, wholesale operations, and excellent in-store execution of American and European brands such as Steve Madden, British Home Stores, and Mothercare (Warsaw). Based on its successful track record, we believe Al Maya is an excellent choice to operate Borders superstores in select GCC countries."

"We are privileged to be a Borders franchisee and we look forward to a mutually rewarding relationship with Borders in the coming years," said Deepak Pagarani, chief executive officer of Al Maya. "The marketplace is ready for expanded choice in book retailers. With the vast assortment Borders stores offer within a welcoming shopping environment, we are confident customers will embrace the Borders brand in the United Arab Emirates."