The Paris Gallery Group plans to open 30 new stores over the next five years despite tough trading conditions in the luxury retail sector.
The expansion will result in the group growing from 86 stores to 116 across the GCC and wider Middle East.
Paris Gallery sells products from 800 international brands including perfumes, cosmetics and fashion.
It expects to increase its workforce to more than 5,000 employees from 3,500 at present, increasing its footprint by 50 per cent to 3.2 million square feet of gross leasable area (GLA) by 2021.
“Since 2006, the group has developed a gradual plan to move its brand focus from the local to regional and global status,” said Mohammed Abdul Rahim Al Fahim, chief executive of the Paris Gallery Group of Companies. He said the group has recorded steady growth in revenue, profits and assets.
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RESULT
Copa del Rey, semi-final second leg
Real Madrid 0
Barcelona 3 (Suarez (50', 73' pen), Varane (69' OG)
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Price, base: Dh914,000
Engine: 3.8-litre twin-turbo V8
Transmission: Seven-speed automatic
Power: 600hp @ 7,500rpm
Torque: 620Nm @ 5,500rpm
Fuel economy 12.2.L / 100km
