Brands For Less Group, one of the largest off-price retailers in the UAE, is anticipating strong growth of its own business in Qatar and of the country’s retail market in general in the Q1 of the year.
Last year, Brands For Less Group opened two new stores in Qatar amid major developments and mega events such as the recently concluded Fifa World Cup 2022 which, alongside a high concentration of expatriates and high-net-worth individuals, accelerated the country’s retail growth.
The business has since advanced significantly thanks to the steady rise in footfall across outlets.
CEO and co-founder of Brands for Less Group, Toufic Kredieh, said: “As part of our expansion plans for 2022 we have successfully opened a number of stores across the GCC in countries like Saudi Arabia, Kuwait, Oman, and Qatar. Due to the growing retail market and the magnified economy brought on by the mega events that were taking place in the country, Qatar stood out as an ideal location for business growth.”
As outdoor activities have back bounced to pre-lockdown levels last year, retail sales are on an upward trajectory, buoyed by higher consumer spending.
“Given Qatar’s exceptional performance in retail sales, which reached $18.5 billion in 2022, we are confident that Q1 of 2023 will remain strong and attract more customers. It is also anticipated that more retail businesses will emerge in 2023, owing to the recent exposure the country has received. With our innovative concepts, client-centred services and products from various brands we are well-positioned to ensure success in the country.”
According to Mr Kredieh, the group’s business performance will be further enhanced by its swift growth in Qatar which will pave the way for more strategic expansions in the future.
In October, the group opened its first shopping centre in Motor City, Dubai.
