فواز الحكير تتكبد خسارة 681 مليون ريال

Saudi retail giants boost online footprint with Vogacloset deal

03 Mar, 2021

JEDDAH: Two major Saudi retail players have joined forces to buy a combined 51 percent stake in UK-based e-commerce platform Vogacloset, it was announced on Wednesday. Retail franchise conglomerate Fawaz Abdulaziz Alhokair Co. (Alhokair) and shopping center operator Arabian Centers Company (ACC) will each own 25.5 percent of Vogacloset, at a cost of SR68,856,933 ($18,360,254), according to Tadawul filings by each company. In addition, the new buyers will also pump $12 million into Vogacloset “to further develop its presence in the Saudi market, accelerate the growth of its active customer base and support the integration of Alhokair brands and ACC tenant brands onto the e-commerce platform,” according to a press statement. Established in London in 2013, Vogacloset sells European fast fashion and beauty products to Arab customers. Since 2015 its sales have risen 70 percent and in 2020 it attracted 12 million unique users across the Middle East, with more than half from Saudi Arabia. According to a Tadawul listing by Alhokair, Vogacloset’s revenue rose from SR58 million in 2018 to SR266 million in 2020. As a result, it went from a net loss of SR240,000 in 2018 to a net profit of SR10.94 million last year. Alhokair and ACC said they are likely to see the financial impact of the deal “from Q1 FY2022 onwards in terms of profit sharing, and also an increase in the sales of its brands and offering on the platform.” The deal is expected to be completed by the end of June 2021. Commenting on the deal, Marwan Moukarzel, CEO of Alhokair, said: “This strategic investment in a sizeable and profitable regional e-commerce player is the most direct route for Alhokair to extend its leadership position in its core Saudi market — from offline to the online space — while safeguarding our competitive market position.” Faisal Al-Jedaie, CEO of ACC, said it will enhance its offering to its mall tenants by allowing them to list their produce on the platform and allow them to offer “buy online, pick up in store” and “buy online, return in store” options. “This partnership, and the new investment that it will bring, will support and accelerate the execution of our ambitious growth plans in Saudi Arabia and the Middle East,” Hanin Hamarneh, CEO of Vogacloset, said in a statement. Formed in 1990, Alhokair operates around 1,800 stores across 100 shopping malls in 13 countries, employing more than 12,000 people and representing around 90 brands, spanning womenswear, menswear, kids and baby, department stores, shoes and accessories, cosmetics and coffee shops. ACC operates a portfolio of 21 shopping centers in 11 Saudi cities.

Arab News

Saudi retail giants boost online footprint with Vogacloset deal

03 Mar, 2021

JEDDAH: Two major Saudi retail players have joined forces to buy a combined 51 percent stake in UK-based e-commerce platform Vogacloset, it was announced on Wednesday. Retail franchise conglomerate Fawaz Abdulaziz Alhokair Co. (Alhokair) and shopping center operator Arabian Centers Company (ACC) will each own 25.5 percent of Vogacloset, at a cost of SR68,856,933 ($18,360,254), according to Tadawul filings by each company. In addition, the new buyers will also pump $12 million into Vogacloset “to further develop its presence in the Saudi market, accelerate the growth of its active customer base and support the integration of Alhokair brands and ACC tenant brands onto the e-commerce platform,” according to a press statement. Established in London in 2013, Vogacloset sells European fast fashion and beauty products to Arab customers. Since 2015 its sales have risen 70 percent and in 2020 it attracted 12 million unique users across the Middle East, with more than half from Saudi Arabia. According to a Tadawul listing by Alhokair, Vogacloset’s revenue rose from SR58 million in 2018 to SR266 million in 2020. As a result, it went from a net loss of SR240,000 in 2018 to a net profit of SR10.94 million last year. Alhokair and ACC said they are likely to see the financial impact of the deal “from Q1 FY2022 onwards in terms of profit sharing, and also an increase in the sales of its brands and offering on the platform.” The deal is expected to be completed by the end of June 2021. Commenting on the deal, Marwan Moukarzel, CEO of Alhokair, said: “This strategic investment in a sizeable and profitable regional e-commerce player is the most direct route for Alhokair to extend its leadership position in its core Saudi market — from offline to the online space — while safeguarding our competitive market position.” Faisal Al-Jedaie, CEO of ACC, said it will enhance its offering to its mall tenants by allowing them to list their produce on the platform and allow them to offer “buy online, pick up in store” and “buy online, return in store” options. “This partnership, and the new investment that it will bring, will support and accelerate the execution of our ambitious growth plans in Saudi Arabia and the Middle East,” Hanin Hamarneh, CEO of Vogacloset, said in a statement. Formed in 1990, Alhokair operates around 1,800 stores across 100 shopping malls in 13 countries, employing more than 12,000 people and representing around 90 brands, spanning womenswear, menswear, kids and baby, department stores, shoes and accessories, cosmetics and coffee shops. ACC operates a portfolio of 21 shopping centers in 11 Saudi cities.

Arab News

Saudi retail giants boost online footprint with Vogacloset deal

03 Mar, 2021

JEDDAH: Two major Saudi retail players have joined forces to buy a combined 51 percent stake in UK-based e-commerce platform Vogacloset, it was announced on Wednesday. Retail franchise conglomerate Fawaz Abdulaziz Alhokair Co. (Alhokair) and shopping center operator Arabian Centers Company (ACC) will each own 25.5 percent of Vogacloset, at a cost of SR68,856,933 ($18,360,254), according to Tadawul filings by each company. In addition, the new buyers will also pump $12 million into Vogacloset “to further develop its presence in the Saudi market, accelerate the growth of its active customer base and support the integration of Alhokair brands and ACC tenant brands onto the e-commerce platform,” according to a press statement. Established in London in 2013, Vogacloset sells European fast fashion and beauty products to Arab customers. Since 2015 its sales have risen 70 percent and in 2020 it attracted 12 million unique users across the Middle East, with more than half from Saudi Arabia. According to a Tadawul listing by Alhokair, Vogacloset’s revenue rose from SR58 million in 2018 to SR266 million in 2020. As a result, it went from a net loss of SR240,000 in 2018 to a net profit of SR10.94 million last year. Alhokair and ACC said they are likely to see the financial impact of the deal “from Q1 FY2022 onwards in terms of profit sharing, and also an increase in the sales of its brands and offering on the platform.” The deal is expected to be completed by the end of June 2021. Commenting on the deal, Marwan Moukarzel, CEO of Alhokair, said: “This strategic investment in a sizeable and profitable regional e-commerce player is the most direct route for Alhokair to extend its leadership position in its core Saudi market — from offline to the online space — while safeguarding our competitive market position.” Faisal Al-Jedaie, CEO of ACC, said it will enhance its offering to its mall tenants by allowing them to list their produce on the platform and allow them to offer “buy online, pick up in store” and “buy online, return in store” options. “This partnership, and the new investment that it will bring, will support and accelerate the execution of our ambitious growth plans in Saudi Arabia and the Middle East,” Hanin Hamarneh, CEO of Vogacloset, said in a statement. Formed in 1990, Alhokair operates around 1,800 stores across 100 shopping malls in 13 countries, employing more than 12,000 people and representing around 90 brands, spanning womenswear, menswear, kids and baby, department stores, shoes and accessories, cosmetics and coffee shops. ACC operates a portfolio of 21 shopping centers in 11 Saudi cities.

Arab News

"فواز الحكير": 637.7 مليون ريال الخسائر المتراكمة بنهاية يونيو 2020 تمثل 30% من رأس المال

01 Sep, 2020

علنت شركة فواز عبدالعزيز الحكير وشركاه، في بيان تصحيحي عن النتائج المالية الأولية على "تداول"، أن الخسائر المتراكمة بنهاية الربع الأول المنتهي في 30 يونيو 2020 بلغت 637.68 مليون ريال بما يعادل 30% من رأس مال الشركة. وأوضحت الشركة، أن الخسائر المتراكمة بنهاية مارس 2020 كانت 112.25 مليون ريال بما يعادل 5 % من رأس المال. وأشارت الشركة إلى أن الإعلان السابق، تضمن عدم بيان مقدار الخسائر المتراكمة ونسبتها من رأس المال بنهاية الفترة الحالية. وحسب البيانات المتوفرة في "أرقام" سجلت شركة "الحكير"، خسائر قدرها 535.6 مليون ريال بنهاية الربع الأول المنتهي فى يونيو 2020، مقارنة بأرباح 224 مليون ريال تم تحقيقها خلال نفس الفترة من عام 2019.

Argaam

Fawaz Abdulaziz Alhokair & Co. to launch KIKO Milano in Arabian Centres malls

09 Sep, 2019

Saudi Arabia based retail group Fawaz Abdulaziz Alhokair & Co. (Tadawul 4240) has announced the signing of a franchise agreement to introduce Italian cosmetics brand KIKO Milano to the Kingdom exclusively at Arabian Centres malls across the country. In the coming 12 months, six stores will open at leading locations in Jeddah, Riyadh, Dhahran and Makkah, among others as part of a plan for the popular international brand to open branches at almost every Arabian Centres’ current 21 lifestyle destinations that are spread across the Kingdom. The arrival of KIKO Milano in Saudi Arabia builds on an international presence for the cosmetics company that already has more than 900 stores in 21 countries, with its products available online in 35 nations. The first Arabian Centres destinations set to host the stores this year include Al Nakheel Mall in Riyadh, Mall of Arabia in Jeddah, Mall of Dhahran in Dhahran and Makkah Mall in Makkah. The franchise deal with KIKO Milano is the latest step in Fawaz Abdulaziz Alhokair & Co.’s continued commitment to expanding its portfolio of lifestyle and consumer brands and attracting premium cosmetics brands to the Kingdom of Saudi Arabia. Commenting on the agreement Marwan Moukarzel, CEO of Fawaz Abdulaziz Alhokair & Co. says, “We are delighted to be introducing another quality international brand to the Kingdom that answers to the growing sophistication and demands of the Saudi shoppers and their desire to have access to the very best international beauty and cosmetics products. The arrival of KIKO Milano will be a valuable addition to our portfolio and we are looking forward to the impact they will have as we open six stores in the coming 12 months in Arabian Centres malls and expand into their Kingdom-wide network of destinations in the years ahead.” “We are very excited to bring our Italian vision of beauty to the Kingdom, and to partnering with Fawaz Abdulaziz Alhokair & Co to make this a reality. KIKO’s relentless pursuit for colour, variety and wonderful new expressions of beauty, offers women endless possibilities to make us a part of their daily lives. We are committed to making KIKO the favourite of every woman in the Kingdom,” adds Cristina Scocchia, CEO of Kiko Milano.

Images Retail Me

Fawaz Abdulaziz Alhokair & Co. to launch KIKO Milano in Arabian Centres malls

09 Sep, 2019

Saudi Arabia based retail group Fawaz Abdulaziz Alhokair & Co. (Tadawul 4240) has announced the signing of a franchise agreement to introduce Italian cosmetics brand KIKO Milano to the Kingdom exclusively at Arabian Centres malls across the country. In the coming 12 months, six stores will open at leading locations in Jeddah, Riyadh, Dhahran and Makkah, among others as part of a plan for the popular international brand to open branches at almost every Arabian Centres’ current 21 lifestyle destinations that are spread across the Kingdom. The arrival of KIKO Milano in Saudi Arabia builds on an international presence for the cosmetics company that already has more than 900 stores in 21 countries, with its products available online in 35 nations. The first Arabian Centres destinations set to host the stores this year include Al Nakheel Mall in Riyadh, Mall of Arabia in Jeddah, Mall of Dhahran in Dhahran and Makkah Mall in Makkah. The franchise deal with KIKO Milano is the latest step in Fawaz Abdulaziz Alhokair & Co.’s continued commitment to expanding its portfolio of lifestyle and consumer brands and attracting premium cosmetics brands to the Kingdom of Saudi Arabia. Commenting on the agreement Marwan Moukarzel, CEO of Fawaz Abdulaziz Alhokair & Co. says, “We are delighted to be introducing another quality international brand to the Kingdom that answers to the growing sophistication and demands of the Saudi shoppers and their desire to have access to the very best international beauty and cosmetics products. The arrival of KIKO Milano will be a valuable addition to our portfolio and we are looking forward to the impact they will have as we open six stores in the coming 12 months in Arabian Centres malls and expand into their Kingdom-wide network of destinations in the years ahead.” “We are very excited to bring our Italian vision of beauty to the Kingdom, and to partnering with Fawaz Abdulaziz Alhokair & Co to make this a reality. KIKO’s relentless pursuit for colour, variety and wonderful new expressions of beauty, offers women endless possibilities to make us a part of their daily lives. We are committed to making KIKO the favourite of every woman in the Kingdom,” adds Cristina Scocchia, CEO of Kiko Milano.

Images Retail Me

فواز الحكير تتكبد خسارة 681 مليون ريال

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Saudi retail giants boost online footprint with Vogacloset deal

Saudi retail giants boost online footprint with Vogacloset deal

Saudi retail giants boost online footprint with Vogacloset deal

"فواز الحكير": 637.7 مليون ريال الخسائر المتراكمة بنهاية يونيو 2020 تمثل 30% من رأس المال

Fawaz Abdulaziz Alhokair & Co. to launch KIKO Milano in Arabian Centres malls

Fawaz Abdulaziz Alhokair & Co. to launch KIKO Milano in Arabian Centres malls

Saudi retail giants boost online footprint with Vogacloset deal

Saudi retail giants boost online footprint with Vogacloset deal

Saudi retail giants boost online footprint with Vogacloset deal

"فواز الحكير": 637.7 مليون ريال الخسائر المتراكمة بنهاية يونيو 2020 تمثل 30% من رأس المال

Fawaz Abdulaziz Alhokair & Co. to launch KIKO Milano in Arabian Centres malls

Fawaz Abdulaziz Alhokair & Co. to launch KIKO Milano in Arabian Centres malls