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.

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.

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.

DUBAI (Reuters) - Saudi Arabia’s Fawaz Abdulaziz Alhokair 4240.SE said on Wednesday its franchise agreement in the kingdom with British retailer Marks & Spencer (MKS.L) had ended, along with similar deals with a number of “non-performing” brands. Marks & Spencer (M&S) said in an email that its franchised stores in Saudi Arabia were transferred to Al-Futtaim Group in 2018. M&S has 15 franchised stores in Saudi Arabia. “We are focused on continuing to work with Al-Futtaim Group to develop and grow our business in Saudi Arabia,” M&S told Reuters. M&S still has a partnership with Alhokair in Armenia, Georgia and Kazakhstan, according to M&S’s website. M&S has more than 400 stores outside the United Kingdom, where it is a mainstay of shopping streets with more than 1,000 outlets. Its international business has been struggling, however, with revenues falling 14% and underlying operating profit down 6% in the year ended March 30, 2019. Alhokair also said on Wednesday it made a first-quarter net profit of 224 million riyals ($60 million), down 10.1% from the same period a year earlier. The firm, which owns franchise rights for brands including Mango, Zara and Banana Republic in the Middle East, said a decline in sales during the quarter was driven by the closure of non-performing stores and the disposal of weak brands as the group presses ahead with a “portfolio optimization strategy.”

SECAUCUS, N.J., June 25, 2012 (GLOBE NEWSWIRE) -- The Children's Place Retail Stores, Inc. (Nasdaq:PLCE), the largest pure-play children's specialty apparel retailer in North America, today announced that it has signed a ten-year franchise agreement with Fawaz A. AlHokair & Co. SJSC, known as "Fashion Retail", to open stores across Saudi Arabia. The first two stores are scheduled to open during the second quarter of 2012. Jane Elfers, President and Chief Executive Officer of The Children's Place, stated, "We are very excited to begin our international expansion beyond North America with a number of stores opening in Saudi Arabia this year. The Middle East retail landscape is very well developed and has high potential for our brand. We look forward to working with Fawaz A. AlHokair & Co, which has a proven track record of launching and operating international brands in Saudi Arabia." Commenting on the launch, Mr. Simon Marshall, Chief Executive Officer of Fawaz A. AlHokair & Co. SJSC, stated, "We have long admired The Children's Place and are excited by the opportunity both to partner with the brand, and to launch our first stores this summer. We believe The Children's Place will fill a white space within the childrenswear market by providing a new product offering combining fashion, quality and value." About The Children's Place Retail Stores, Inc. The Children's Place is the largest pure-play children's specialty apparel retailer in North America. The Company designs, contracts to manufacture and sells fashionable, high-quality merchandise at value prices, primarily under the proprietary "The Children's Place" brand name. As of April 28, 2012, the Company operated 1,062 stores and an online store at www.childrensplace.com. About Fawaz A. AlHokair & Co. SJSC Fawaz A. AlHokair & Co. SJSC is a leading, publicly-listed retail conglomerate headquartered in Saudi Arabia. The company has retail operations in Saudi Arabia, Jordan, Morocco, Egypt, Kazakhstan, Azerbaijan, Georgia and the U.S.A. The company partners with 70+ brands across 1,200+ stores. http://www.fawazalhokairfashion.com/ Forward Looking Statements This press release may contain certain forward-looking statements regarding future circumstances, including statements relating to the Company's positioning, and forecasts regarding store openings. These forward-looking statements are based upon the Company's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results and performance to differ materially. Some of these risks and uncertainties are described in the Company's filings with the Securities and Exchange Commission, including in the "Risk Factors" section of its annual report on Form 10-K for the fiscal year ended January 28, 2012. Included among the risks and uncertainties that could cause actual results and performance to differ materially are the risk that the Company will be unsuccessful in gauging fashion trends and changing consumer preferences, the risks resulting from the highly competitive nature of the Company's business and its dependence on consumer spending patterns, which may be affected by the continued weakness in the economy or by other factors such as increases in the cost of gasoline and food, the risk that the cost of raw materials or energy prices will increase beyond current expectations or that the Company is unable to offset cost increases through value engineering or price increases, and the uncertainty of weather patterns. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they were made. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material. CONTACT: The Children's Place: Jane Singer, Vice President, Investor Relations (201) 453-6955 Fawaz A. AlHokair & Co: Brendan Dorrian, Personal Envoy to the Chairman and Head of Business Development +447778897111 Children's Place Retail Stores, Inc.

Saudi Arabia-based retailer Fawaz Abdulaziz Alhokair Co plans to open 400 new stores within the next two years both at home and abroad and does not see demand in the kingdom declining anytime soon, its top executive said on Monday. Speaking at the Reuters Middle East Investment Summit, Abdulmajeed Alhokair, whose firm has 75 franchises in the Middle East and 1,300 stores worldwide, said he expected its growth this year and next year to be stronger than in 2010. "The Saudi market has not been affected by the crisis in the past and we don't expected to be affected," Alhokair said. "We don't expect a great effect in other countries either," he added, noting that the company's focus is on emerging markets which are less exposed to the financial crisis than Europe. While 90 percent of Alhokair's sales are from stores in Saudi Arabia, Alhokair said he expected foreign sales to grow by 30 percent next year as more shops opened. Alhokair also operates in Jordan, Egypt, Morocco and Kazakhstan, and plans to expand into Commonwealth of Independent States (CIS) countries, aided by a $50m loan from the International Finance Corporation. "We will start operations in Azerbaijan next month and in Georgia in the first-quarter of next year," Alhokair said. The firm posted a 16 percent rise in net profits to SR201.8m ($53.6m) for the second quarter of its financial year, ending March 30, on higher sales and the addition of new stores. Alhokair's franchises include international brands such as Zara , Marks & Spencer's , Gap , Aldo, Monsoon, Accessorize and Topshop. In March, the firm announced plans to set up a joint venture with Burberry to market and sell the British luxury goods group's products. Alhokair will hold a 40 percent stake in the Riyadh-based company.