Retailcorp., part of Istithmar and Dubai World and UK based The Juice Corporation today announced a multi-million dollar partnership to bring the Joe Bloggs streetwear brand to the Gulf.
During the opening of the world’s first stand-alone Joe Bloggs outlet in Ibn Battuta Mall, senior executives revealed the companies plans to launch up to 50 Joe Bloggs stores – which will primarily target male teenagers in the 7-16 age group -- across the GCC within the next five years.
“Retailcorp is the ideal partner to bring the Joe Bloggs brand to Gulf consumers. With an estimated 20% of the GCC population below the age of 16, there is a substantial fashion-conscious youth market to which this brand appeals. For The Juice Corporation, Retailcorp was our partner of choice, not only based on the impressive background of Marvin Shaire, CEO of Retailcorp, but also because they are a business built on professionalism and ethical partner relationships,” said Kashif Ahmed, Managing Director, The Juice Corporation.
“The Joe Bloggs brand has been successfully sold in the Middle East for the last five years through leading department stores and it is a natural progression to move into stand-alone retail given the exponential growth of quality retail space coming online in the Middle East. Our partnership with Retailcorp represents a significant step in advancing our ambitious international expansion plans for Joe Bloggs and other Juice Corporation Brands,” he added.
In partnership with Retailcorp, The Juice Corporation plans to open 11 outlets within the next two years, with Saudi Arabia, Kuwait and Qatar as the target markets. Additional shops are also planned in the UAE, with an eye to regional expansion and a possible foray into India, Turkey, and other key markets. The two companies may also introduce Joe Bloggs mens- and ladieswear ranges to the GCC in later stages of their partnership.
“In addition to the robust youth culture of the GCC, there has been a significant growth in pursuits like football, skateboarding and surfing that lend themselves to the Joe Bloggs dynamic. Together with The Juice Corporation, we are delivering a retail space and style concept that hold wide appeal for male youth in the region. Our first stand-alone store promises to be just the start of a long and significant partnership with The Juice Corporation and its brand portfolio,” said Leonard Erlank, Head of Retail, for Retailcorp.
The Juice Corporation’s new agreement with Dubai-based Retailcorp. highlights the Middle East retail sector growth phenomenon, which analysts AT Kearney estimated at 38 percent between 2001 and 2005, second only to that of Central and Eastern Europe.
