Marking its 40th anniversary, UAE-based luxury retailer Etoile Group has recently announced plans for strategic growth of doubling revenues over the next five years alongside launching its new brand identity.
As part of its growth plans during the next 24 months, the company aims to broaden its portfolio with launches in new and existing locations including openings of boutiques in Saudi Arabia, Bahrain and Kuwait, as well as the reopening of boutiques in Lebanon.
Founder and president of Etoile Group, Ingie Chalhoub, said: “When we launched Etoile Group 40 years ago, luxury retail in the region was almost unknown – our clients would previously have had to travel to Paris, Milan, New York or London every season.
“Today, four decades later, the Arabian Gulf is one of the most high-growth and fashion-forward luxury markets in the world. I am proud that the team at Etoile Group has played a role in this evolution. We have done so by building unmatched relationships with our clientele and by investing in lasting partnerships with brands and designers who share our commitment to innovation and hold a deep reverence for design, artisanship and aesthetics.”
With 60 upcoming or current projects, the Group also wants to double its employee base within the next five years.
The Group which brought the first Chanel boutique to the GCC region in 1983, operates across six Gulf and Levant markets. Its partners include luxury labels such as Chanel, Valentino, Etro, Aquazzura, Ralph Lauren, Tod’s, Yamamay and Hogan.
The retailer celebrated its anniversary after achieving double-digit growth last year by broadening its portfolio and onboarding new brands, opening five luxury stores in new and existing locations, in addition to investing in e-commerce and technology to foster its omnichannel operations.
The company also continues focusing on sustainable fashion through the initiatives of its luxury fashion house partners and Etoile La Boutique which is home to more than 35 designers specialising in eco-friendly designs.
