The signature French Consumer Electronics store seals deal with Saudi's Alhokair group to deploy in Saudi Arabia.
Scheduled for 2022 opening, Fnac will be the first outlet in the largest economy in the Middle East. While the details of the agreement remain secret, it is worth noting that the partner they have chosen, Alhokair Group, operates 1,800 retail stores in the region. Making the deal one among truly seasoned professional companies with extensive knowledge of both the industry and the market.
When in doubt, SWOT it
News like this represent the incredible opportunities of a market that still has strong potential in retail. Quantifying them is not easy, but here is a good idea to consider:
- FNAC has a long and established market approach
- Alhokair owns and operates shopping malls
- Both companies are proven successes and are publicly traded
- Saudi Market and Middle East in general continue to post GDP increases every year
- Access to product and local infrastructure may prove tricky
- E-trade continues to grow
- Getting into the vendor list at the start of a successful franchise
- Expand business and channel sales with an anchor store
- Establish operations in a continuously expanding demographic country
- Consumer Electronics market in the Middle East is well developed
- Distribution Networks for Electronics are compressed in the region
The chance is there. The time is now. The decision is yours. But it seems aight!
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