Citymax, the leading value fashion brand is increasing investment into the Saudi Arabian market, opening four stores in the first three months of 2014. The stores are located throughout the Kingdom in Dammam and Jeddah demonstrating the span of Citymax’s extensive expansion plans for the country.
The stores will provide Citymax’s range of value fashion including womenswear, menswear, homeware and childrens wear.
Aiming to have over 100 stores in Saudi Arabia by mid 2014, Citymax’s investment plans are reflective of the confidence it has in the KSA retail sector. The country is one of the fastest growing markets for Citymax, which corresponds to the year-end report by Saudi investment firm Al Rajhi Capital which said that retail was one of the best performing areas of the Saudi Arabian economy in 2013. The new Citymax stores will feature the new Citymax look and feel, with an updated design and interior layout. The new stores are located in Dammam in Qatif & Dammam Corniche, Abqaiq Mall, Aswak Al Qariah, and in Jeddah in Max Yanbu, Sabt Al Alaya, Red Sea Mall. In addition to the four brand new Max stores, three existing stores in Jeddah and Dammam have been relaunched with the new layout.
“Saudi Arabia is one of our most important markets for 2014 and we are looking to greatly increase our presence. The malls we have selected for Citymax represent good settings with high footfall and convenient locations for our customers. As a homegrown Middle East brand we understand our customers and always strive to provide them with ‘More Fashion, More Value’. Opening 4 brand new stores in Q1 is a testament to Citymax’s commitment to developing the region and a credit to Citymax’s long term vision for the Kingdom”said MrHariharan, CEO of Citymax.
With a rapid growth rate and having opened over 260 stores across 16 countries in the Middle East, North Africa and India in the past ten years, Citymax has cemented its position as the market leader in the value fashion segment in KSA. The company has an annual turnover of USD1.2billion and is aiming to reach a USD3billion status in the next five years. Mr. Hariharan’s leadership has led the brand to surpass its initial business plan and grow substantially in the value fashion segment, achievements which have
culminated in being recently awarded the accolade of ‘Retail CEO of the Year’ award at the 2014 Arabian Business Indian CEO of the Year Awards.
The latest Spring 2014 collection is now available in store, which includes a huge variety of on-trend ladieswear, menswear and kidswear to choose from. Known as Citymax in KSA; Max Fashions is part of Landmark Group, one of the largest retail conglomerates in the Middle East and India. It currently operates in the UAE, Saudi Arabia, Kuwait, Oman, Jordan, Qatar, Bahrain, Egypt, Sudan, Yemen, Lebanon, Nigeria, Libya Tanzania, Iraq and India. For more information, visit: www.maxfashionretail.com.