Fawaz Abdulaziz Alhokair Co. (“Alhokair”), the leading franchise retailer in Saudi Arabia, has signed the first franchise agreement in the Middle East with popular Danish variety retailer Flying Tiger Copenhagen, in support of its strategy to bring best-in-class trendy brands and products to customers in the Kingdom. With around 900 stores across 27 countries, customers can expect Flying Tiger Copenhagen’s fun and value for money retail offerings to be introduced to malls across Saudi Arabia starting 2022. Alhokair and Flying Tiger Copenhagen have plans to open 45 stores across the country during the next 5 years, with 9 stores and an online store operational in the first year.
Widely acclaimed for its fun utilitarian products and DIY craft concepts at value-for-money price points, the Danish retailer will give Saudi customers a chance to add sparkle to their everyday lives. Created to award-winning Danish design standards, the complete range of products including toys and accessories, stationery, gadgets and more will be available year-round with a mix of a fixed assortment and campaign products that vary across the year, depending on season.
Commenting on the latest franchise brand in the Alhokair portfolio, Marwan Moukarzel CEO, Fawaz Abdulaziz Alhokair Co., said: “We are delighted to introduce Flying Tiger Copenhagen’s fun, imaginative and vibrant products to customers in Saudi Arabia. As the largest retail market in the Middle East, Saudi Arabia is a gateway to the region and an enthusiastic adopter of innovative trends and products. We are confident that Flying Tiger COpenhagen’s wide range of affordable products, will witness great success, especially among young Saudi customers – offering more tools to inspire their creativity while meeting local and international sustainability standards.”
According to Statista, one of the world’s leading consumer data and statistics portals, the toys, hobbies and DIY crafts market in Saudi Arabia is projected to reach USD 724 million in 2021, as people spend more time at home. The collaboration with Flying Tiger Copenhagen adds a new product category to the Alhokair portfolio, advancing the diversity of brands that the Company has brought to the Kingdom during the last 30 years.
“We are very excited about the collaboration with Alhokair and the expansion of the Flying Tiger Copenhagen concept into a region where we have a strong belief that our brand will appeal to a wide range of customers. We look forward to bringing the Saudis our take on a great shopping experience and fantastic value-for-money products with a distinct Scandinavian feel”, says Martin Jermiin, CEO of Flying Tiger Copenhagen.
Today, Alhokair operates more than 1,800 retail stores across 12 countries. Its portfolio comprises more than 90 international and local brands in fashion, beauty, sports, multimedia, and food and beverage. The business is focused on growing and diversifying its retail offer into a lifestyle experience, by building an omnichannel footprint in domestic and international markets.