The owners of UAE-based off-price retailer Brands For Less Group are considering selling a minority stake in the business to investors, Reuters reports.
The expected deal is expected to attract the attention of private equity investors and sovereign wealth funds as the business can potentially outperform in a recessionary environment as consumers are increasingly adopting money-saving habits.
The Group is working with deNovo Corporate Advisors, according to two sources, a Dubai-based boutique led by ex-Morgan Stanley Banker May Nasrallah.
Founded by Lebanese entrepreneurs Toufic Kreidieh and Yasser Beydoun, Brands For Less opened its first store in Beirut in 1996.
Four years later, the Group entered the UAE, establishing its headquarters in Dubai.
The retailer operates several lines including Brands for Less, which consists of retail fashion stores, alongside Toys For Less, Homes For Less and Luxury For Less.
Brands for Less Group also has an online retail presence and operates 85 stores in six countries.