UK womenswear retailer to open UAE stores
British retailer Phase Eight will open seven stores in the UAE as it moves to boosts its international presence, the UK’s Retail Week reported.
The womenswear retailer, which opened its first overseas store last year in Switzerland, will initially concentrate on stores in Dubai, said a spokesperson.
“International growth is a key focus for Phase Eight over the next few years, and we recognise a significant opportunity to build our presence globally, through a multi-channel and multi-format approach,” a Phase Eight spokeswoman said.
“The pace of expansion has been ambitious but a resounding success.
“The four standalone stores in Switzerland have performed above expectations, demonstrating the success of our brand across different markets, ages and cultures,” she added.
Dubai is enjoying a retail and tourism boom with passenger traffic passing through its airport rising 13.2 percent to 57.6m passengers last year, overtaking Hong Kong International Airport to become the third busiest airport in the world.
Real estate prices have started to increase and GDP rose 4.3 percent last year, according to preliminary estimates.
The retail market has been boosted by shoppers from Russia, China and the Gulf. Emaar, owner of the world’s biggest shopping mall, said the number of visitors to Dubai Mall in 2012 increased by almost half a million people to 5.2m while the number of brands sold in its stores increased 25 percent.