Centrepoint celebrates 100th store with aggressive expansion plan
Centrepoint, a unique retail format catering to families across the region with four leading brands from the Landmark Group under one roof, has unveiled aggressive expansion plans across the Middle East, Asia and Africa.
With 100 stores in its retail portfolio, Centrepoint has earmarked a further AED1 billion towards the launch of 75 stores in the next five years across existing territories as well as new markets including Iraq, Libya and other African countries. The expansion is expected to create 10,000 new job opportunities in the region.
The brand that was launched in 2005 in Kuwait currently retails four great brands under one roof - Babyshop, Splash, Shoe Mart and Lifestyle - across Saudi Arabia, UAE, Kuwait, Oman, Bahrain, Qatar, Egypt, Lebanon and Jordan that collectively span an aggregate retail footprint of over five million square feet.
Vinod Talreja, Director, Centrepoint, said: “As an innovative, one-stop shopping concept, Centrepoint has received tremendous acceptance across all territories where it has a presence. Our success is a testimony not only to the quality of products and services we offer, but also to the practicality of having a single destination that meets the shopping needs of the entire family. With our experience of almost a decade, Centrepoint is well geared to enter new markets and explore further opportunities.”
- Centrepoint has enjoyed significant success particularly in Saudi Arabia and Kuwait where the concept has evolved into a popular fashion destination for families. Saudi Arabia, top among the brand’s markets has 56 Centrepoint stores, followed by the UAE market that has 15 stores.
Simon Cooper, Head of Centrepoint, said: “Based on our exhaustive consumer research conducted in 2013 across our key markets in the GCC region, it is apparent that shoppers closely connect with the brand that Centrepoint represents. We process 35 million transactions annually. The average customer visits Centrepoint at least nine times in a year and shops for at least three of the four brands with their families. These trends are strong indicators of Centrepoint’s viability as a successful retail format.”
Enjoying unparalleled customer acceptance, Centrepoint is poised for phenomenal growth driven by a workforce of over 10,000 trained personnel. The next five years look crucial for the brand as it consolidates existing operations and explores newer markets to widen its presence.