INTERSPORT assigns Licence for the Arab Emirates
01.05.2006 | INTERSPORT assigns Licence for the United Arab Emirates (UAE) to the Al-Futtaim Group
IIC-INTERSPORT International Corporation (IIC) is pleased to announce that it signed a licence agreement for the territory of the United Arab Emirates with the Al-Futtaim Group. This agreement allows the Al-Futtaim Group to exclusively open INTERSPORT stores, sell INTERSPORT’s exclusive branded products, and to have access to all other IIC products and services
Established in the 1930s, the Al-Futtaim Group initially operated as a trading enterprise. Rapid development throughout the 1940s and 50s saw it establish itself regionally as an integrated commercial, industrial and services organisation, positioning itself as one of the leading business conglomerates in the lower Gulf region. With some 10,000 employees, the Group operates collectively over 40 companies bearing the Al-Futtaim name, dominating many market segments in the UAE, and has expanded its sphere of operations to include Bahrain, Kuwait, Qatar, Oman, Egypt, Singapore and Pakistan. The Group’s scope of operations includes Automotive, Electronics, Retail, Marketing and Communications, Travel, Logistics, Insurance, Industry, Real Estate & Property Development. With licences of well-known global companies like IKEA, Marks & Spencer, Toys 'R' us, Panasonic, Sanyo etc., it dominates many market segments.
The Al-Futtaim Group will launch five 1'000 m2 stores across the UAE market by 2009, with the first store scheduled to open in the first quarter of 2007, at the Retail Park in Dubai Festival City. An expansion of INTERSPORT to other Gulf countries is currently under evaluation.
Franz Julen, CEO of IIC-INTERSPORT International Corporation states: “The United Arab Emirates and in particular its emirate Dubai is one of the fastest growing economies in the world. Dubai is an ideal place for INTERSPORT to improve its world-wide market presence and value as the tourism industry is booming and population is multi national. With the Al-Futtaim Group we are convinced having found the right partner to establish the trademark INTERSPORT professionally and according to its image and positioning.”
Jim McCallum, Group Director – Retail for Al-Futtaim Group said, “The Group aggressively works towards bringing the best brands from around the world to the UAE, and this is one such instance. Recognising the international strengths and brand values of INTERSPORT and the need to fast grow the sports retail market in the Middle East, we believe that the synergy between the two companies will be rewarding to both parties.”
He further added, “The success of the Al-Futtaim Group can be attributed to a business approach that combines the ability to evolve with the traditional values of integrity, service and social responsibility. This, linked with the Group’s belief in decentralisation, gives the heads of the operating companies a high degree of functional autonomy and authority, and we are glad to see this similarity in INTERSPORT’s business model.”
With a turnover of EUR 7.7 billion and more than 4,800 specialist sports stores in 32 countries, the INTERSPORT Group has further strengthened its position as the leader in the world sporting goods market.
