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Alhokair to open more stores in Saudi Arabia this year

Saudi retailer Fawaz Abdulaziz Alhokair has revealed plans to open around 250 stores in the kingdom and abroad this financial year, as the country's booming retail sector provides a platform to expand into new markets, Reuters has reported. "The company opens 200 stores every year, but this year the number will be a bit higher because of the new brands and new locations in Saudi," President Abdulmajeed Alhokair told the news service, referencing franchises such as Mango and Stradivarius, which it secured through its purchase of Nesk Group in 2012.