Brands For Less, budget retailer of apparel, footwear, accessories, technology and household items from over 3,000 brands, has opened its first store in Qatar on Al Sad Street.
The opening aligns with the retailer’s plans to expand its retail footprint this year, with another store set to open in City Centre Doha within the next two weeks.
“The BFL Group’s unique proposition and mission is to always provide everyone with access to top brands at competitive prices, and this is yet another milestone in our journey of business growth,” said Toufic Kreidieh, co-founder and CEO of the Brands For Less Group.
The retailer’s venture into Qatar comes ahead of the FIFA World Cup Qatar 2022, with the country’s market expected to recover by 2.4 per cent from 2020, and record a 3.6 per cent growth by the end of the year, per reports by the International Monetary Fund.
The Brands For Less Group is looking to capitalise on this forecast and expects an increase in its customer base and consumer demand.
“Qatar emerges as an ideal location for business growth, as the country has the highest GDP per capita in the world, despite its small population, and relies on international partners to achieve strategic goals, driving business opportunities for a multitude of countries,” Mr Kreidieh added.
“These developments have allowed the country to pave the way for many companies to expand their businesses, as a result of which, the BFL Group was successful in expanding its operations to Qatar with two new stores.”
The retailer recorded $31.5 million in global net sales from online orders last year, with fashion as the most popular category, according to market analytics firm ecommerceDB.
The Brands For Less Group invested $12 million into its e-commerce operations in 2020, when online activity accounted for 20 per cent of business.
The retailer is aiming for 50 per cent of sales to arrive via e-commerce by 2025, said Yasser Beydoun, co-founder and managing partner of Brands For Less.
In keeping with its expansion plans, Brands For Less opened a store in Dubai’s Silicon Oasis last month, adding to its portfolio of over 65 branches across the Middle East.