Spadamco Holdings, a Dubai-based company with interests and holdings in light industry, retail and food and beverage franchises in the GCC, will expand its retail operations in the UAE and the Gulf, said its managing director.
Speaking to Emirates Business, Nicolas Rubeiz, Managing Director, said the group will expand its retail fashion brand OshKosh B'gosh and luxury food franchise Caviar House and Prunier in the UAE and beyond the country.
"The year 2009, despite the crisis, was a not bad for us. We opened two more outlets. There are plans to take Caviar to the Gulf and Levant regions. The industrial units are also doing well because they are very specialised and in niche market. Over a horizon of three year, we will be definitely considering two four locations for Caviar House."
Rubeiz said the openings of retail outlet projects schedules could be readjusted due to slowdown and delays in real estate projects.
"I can't commit any numbers at this point of time. The plan is there; opening retail outlets is closely linked to the real estate in order to find the right location. As entire region's real estate sector has slowed down, then obviously investments have to be adjusted as well. You need the right place and have to choose location wisely."
Spadamco opened the first outlet of luxury food franchise Caviar House and Prunier in the region at the Dubai International Airport. There are currently 22-23 outlets around the world.
Rubeiz said Abu Dhabi was definitely an attraction and "it is on our radar". He said: "There is a lot of focus on Abu Dhabi. The opening of the retail outlets largely depends on the completion of real estate projects. We intend to open at Abu Dhabi International Airport on completion of the its ongoing expansion, which will take three to four years. Similarly, a number of malls are under construction and most of them are four-five years down the line. As and when a right opportunity comes, we'll take it."
On its luxury fashion brand OshKosh B'gosh, Rubeiz said the group has four branches in the UAE with three of them in Dubai. "We do have plans to go to few more locations in the coming years, mainly in the UAE. The retail market here has not seen any normal period so far. The past ten years have been seen huge growth.
"We have come from a society of a lowest per capita per square in terms of retail to the one of the highest in a very short period of time. Normally, markets take 50 years to achieve that level and UAE took only five years."
Follow Emirates 24|7 on Google News.