Retailers, consumers and prices
Check Out Macy’s opening up shop in Dubai.
Two Bloomingdale’s department stores are scheduled to open in the United Arab Emirates’ largest city in February 2010. Macy’s, which owns the Bloomingdale’s chain, says the store’s merchandise and upscale ambiance will be similar to Bloomingdale’s in the U.S., while being ”sensitive to local preferences and customs” of the oil-rich states.
In another sign the Middle East remains a robust market for foreign retail brands, Kuwaiti retailer Villa Moda is partnering with the Dubai International Financial Center, which is owned by the Dubai government. The DIFC is buying a majority stake in Villa Moda, which operates seven multibrand shops in the Gulf region and offers high-luxury brands such as Gucci, Prada and Dolce & Gabbana.
The two Bloomingdale’s, including a three-level clothing and accessories store and a one-level home store, will anchor The Dubai Mall, scheduled for completion later this year.
The stores will be managed and operated by Al Tayer Insignia, a company of Al Tayer Group, under a licensing agreement. Al Tayer Group operates in 12 countries in the Middle East and beyond and represents brands such as Harvey Nichols, Armani, Gucci, Emilio Pucci, Bvlgari and Boucheron, as well as stores such as Gap and Banana Republic.