New Albany, OH [May 9, 2016] — Abercrombie & Fitch Co. (NYSE: ANF) (the “Company”) announced today that it has expanded its existing relationship with Majid Al Futtaim Fashion through a franchise development agreement to establish a retail store presence in the Kingdom of Saudi Arabia, Qatar, Bahrain and Oman. Since 2013, the Company, with the support of Majid Al Futtaim Fashion, has opened eight stores in the UAE and Kuwait.
This franchise agreement encompasses the Abercrombie & Fitch, abercrombie and Hollister brands and further demonstrates the Company’s commitment to growth in the Middle East.
The Company expects to open its first stores in Qatar in the first quarter of 2017, and in the Kingdom of Saudi Arabia in the second half of 2017.
“We expect there to be strong demand for our brands in these new markets, and we are thrilled to partner with Majid Al Futtaim Fashion to expand our presence in the Middle East,” said Arthur Martinez, Executive Chairman of Abercrombie & Fitch Co. “This arrangement represents our second major franchise partnership, as we continue to expand our brand reach.”
“We are excited to continue supporting the development of the Abercrombie & Fitch, abercrombie, and Hollister brands in the Middle East. We have seen significant demand within the last few years in the UAE and Kuwait and we look forward to helping Abercrombie & Fitch Co. grow in this market,” said Rajiv Suri, Chief Executive Officer at Majid Al Futtaim Fashion.
About Abercrombie & Fitch Co.
Abercrombie & Fitch Co. is a leading global specialty retailer of high-quality, casual apparel for Men, Women and kids with an active, youthful lifestyle under its Abercrombie & Fitch, abercrombie kids and Hollister Co. brands. At the end of the fiscal year, the Company operated 754 stores in the United States and 178 stores across Canada, Europe, Asia and the Middle East. The Company also operates e-commerce websites at www.Abercrombie.com, www.abercrombiekids.com and www.HollisterCo.com.
About Majid Al Futtaim Fashion
Majid Al Futtaim Fashion is the fashion retailing arm of Majid Al Futtaim the leading shopping mall, retail and leisure pioneer across the Middle East and North Africa (MENA).. Majid Al Futtaim Fashion currently operates over 135 stores in 7 markets across the MENA region, working with a number of leading fashion brands including Abercrombie & Fitch Co., Hollister, AllSaints, lululemon athletica, Monsoon Accessorize, Sacoor Bros, Juicy Couture, HOSS Intropia, Halston Heritage, Jane Norman, and Peacocks. Expansion plans currently underway will see Majid Al Futtaim Fashion doubling its portfolio within the next 5 years through strategic partnerships with high-profile brands