Nishat Group, Pakistan’s foremost and largest business conglomerate with interests in textiles, cement, power generation, hospitality and financial services, has embarked on a major expansion plan that will see it expanding its global footprint with its own signature stores.
The group has begun its international expansion with plans for setting up six retail stores across the UAE by the year end, beginning with the high-profile opening of first-ever Nishat Linen home lifestyle store, at Dubai Festival City on Thursday, May 12th, 2011.
The company has also set up its first regional warehouse in Dubai’s Al Quoz Industrial Area, to be followed up by another in Jebel Ali Free Zone in due course. By opening the Nishat Linen outlet, the group has launched a major campaign to capture a significant share of the Middle East bed linen and home textile market. Retailers and hospitality and the institutional industry in the GCC will be offered the convenience of sourcing Nishat’s in-stock range locally at short notice.
The announcement underlines the conglomerate’s intentions of becoming a global player in the and further consolidates its leading position in the global textile industry. Nishat Group is headed by prominent industrialist and entrepreneur Mian Muhammad Mansha. Nishat Linen is part of Nishat Textiles, the group’s 60-year-old flagship company that has emerged as Pakistan’s largest supplier to international brands such as Tommy Hilfiger, NEXT, Chaps, GAP and Hugo Boss, among others.
In addition to textiles, the group controls the most profitable bank in Pakistan (Muslim Commercial Bank), one of the largest insurance companies (Adamjee Insurance), and DGK Cement (also Pakistan’s largest cement manufacturer). Furthermore, through its various power plants, the group also generates nearly 10% of the country’s power requirements.
Outlining the expansion drive, Ahmed Jahangir, Executive Director of Nishat Group, said: “This is a landmark achievement for the Group which has been exploring effective ways to expand its international presence for some time now. Our immediate agenda is to launch six Nishat Linen concept stores in the UAE by the end of the year and then aggressively continue our expansion across the Middle East and Europe.”
Jahangir acknowledged that the Nishat Group’s entry into the Middle East had been comparatively late. “Entering other countries requires careful assessment of those markets and finding the right local partners who can understand our business philosophy,” he said. “In comparison to other markets, the UAE showed greater potential to provide a launch-pad for our international expansion and exponentially grow our business.”
The Nishat Linen outlet at Dubai Festival City is a 2,500-foot specialty store featuring a classy range of high-end linen and accessories for fashion-conscious consumers in the UAE. New outlets will be opened at Lamcy Plaza and Dubai Outlet Mall over the next two months.