Brands For Less, UAE-based budget retailer of apparel, footwear, accessories, technology and household items, has opened its second store in Saudi Arabia on Riyadh’s Khurais Street.
The opening comes as part of the Brands For Less Group’s efforts to increase market reach across the region.
The store houses a shop-in-shop concept showcasing Muy Mucho for the first time in the kingdom.
The Spanish-based brand manufacturers bohemian and chic home essentials and decorative items.
To celebrate the store opening, Saudi Arabia’s traditional Arda dance was performed alongside an Oud vocalist.
Influencers were invited to the opening, with the kingdom’s UFM radio station hosting competitions with prizes for participating customers, as part of its roadshow.
The store opening on Khurais Street follows that of a branch near Riyadh’s Exit 6 Road earlier this month and another on Al Sad Street in Qatar in May.
The group intends to capitalise on the kingdom’s retail market, which is expected to grow by 20 per cent by the end of this year, said market research database Euromonitor International.
In addition, Brands For Less Group seeks to establish a strong foothold in e-commerce.
Last year, the kingdom’s e-commerce market was valued at $8 billion, an increase of 17 per cent from 2020, market analyst firm ecommerceDB reports.
By 2024, 33.6 million Saudi Arabians are expected to use e-commerce regularly, marking an increase of 42 per cent from 2019, according to the International Trade Administration.
The budget retailer invested $12 million into its e-commerce operations in 2020, when online activity accounted for 20 per cent of business.
Brands For Less recorded $31.5 million in global net sales from online orders last year, with fashion as the most popular category.
The group is now aiming for 50 per cent of sales to be brought in via e-commerce by 2025, said Yasser Beydoun, co-founder and managing partner of Brands For Less.
