Landmark’s Centrepoint Plots 130 Locations By Year-End, Iraq Expansion
The move is part of a Dhs2 billion expansion announced last year.
Centrepoint, the multi-brand retail concept of Landmark Group, is planning to increase its footprint to 130 stores by year-end, including expansion in Iraq and North Africa.
The move is part of a Dhs2 billion investment announced last year, which will see the Babyshop, Splash, Lifestyle, Shoe Mart and Beautybay retailer reach 200 stores by 2019, with expansion in new markets Iraq, North Africa and the CIS.
Centrepoint head, Simon Cooper, told Gulf Business the company would open its first store in Iraq later this month in Kurdistan’s Sulaymaniyah.
A second outlet in the city, and others in Irbil and Duhuk will follow over the next 12 months, he said.
“We will have 130 stores by end of 2015,” Cooper added.
Other locations catching Centrepoint’s and Landmark Group’s attention include Iran, where Western sanctions will potentially be lifted later this year.
“The Landmark Group has been looking at expansion in Iran and hence we will have a clearer picture on Centrepoint once the necessary research is done,” he said.
While Landmark doesn’t disclose financial results, Cooper revealed the retailer had enjoyed double digit growth in the ‘value-for-money segment’, which includes clothes brands like Splash.
Today, Centrepoint is opening it’s 113th location, in the UAE’s Ajman, while it has seen “healthy” growth across its Emirati, Saudi, Omani and Egyptian markets, according to Cooper.
Landmark, whose other brands include Max, Emax, Sports One and Home Centre, said last year it would add 50 new stores across the UAE by the end of 2015, increasing its presence in the country to over 550 locations.
