Skip to content
Search

Latest Stories

Boohoo joins Kuwait’s Alshaya to grow Debenhams in Middle East

Boohoo joins Kuwait’s Alshaya to grow Debenhams in Middle East

BRITISH online fashion retailer Boohoo has entered a partnership with Kuwait-based Alshaya Group to build its Debenhams brand in the Middle East region.

Boohoo bought the Debenhams brand out of administration for £55 million in January.


The fashion chain said Alshaya, a franchise operator which runs Debenhams stores in shopping malls, will have exclusive rights to operate the stores and a local e-commerce platform in Kuwait, Saudi Arabia, the United Arab Emirates, Bahrain, Egypt, Oman and Qatar.

The move is part of Boohoo’s strategy to extend its reach in key regions.

The deal will see Boohoo brands in Debenhams stores from the fourth quarter of 2021 and on a new local online platform across the Middle East from early 2022.

“The Debenhams brand has been popular in the region for a number of years so this is a great opportunity to build on the existing brand awareness, while expanding the product ranges and brands available to customers,” said Boohoo chief executive John Lyttle.

“It also offers a new route to market for brands within the Boohoo Group, raising their profile in a growing new market,” Lyttle said.

Earlier this month, Lyttle said the fashion brand is on track to grow and expand.

The online retailer grew 41 per cent last year.

More For You

UK economy contracts unexpectedly in January

Chancellor Rachel Reeves speaks while holding roundtable discussion during a visit to RAF Waddington in eastern England. (Photo by YUI MOK/POOL/AFP via Getty Images)

UK economy contracts unexpectedly in January

BRITAIN's economy unexpectedly shrank in January, official data showed on Friday (14), piling more pressure on the Labour government ahead of its Spring Statement on the economy.

Gross domestic product contracted 0.1 per cent in the month after GDP rose 0.4 per cent in December, the Office for National Statistics (ONS) said in a statement.

Keep ReadingShow less
Pakistan seeks £3.4bn bank loan to tackle mounting energy sector debt

Pakistan’s government is the largest shareholder or owner of most power companies

Pakistan seeks £3.4bn bank loan to tackle mounting energy sector debt

Eastern Eye

PAKISTAN government is negotiating a 1.25 trillion Pakistani rupee (£3.4 billion) loan with commercial banks to reduce its bulging energy sector debt, the power minister and banking association said.

Plugging unresolved debt across the sector is a top priority under an ongoing $7bn (£5.4bn) International Monetary Fund (IMF) bailout, which has helped Pakistan dig its way out of an economic crisis.

Keep ReadingShow less
Deliveroo posts first annual profit after 12 years

A Deliveroo rider near Victoria station in London, England. (Photo by Dan Kitwood/Getty Images)

Deliveroo posts first annual profit after 12 years

FOOD DELIVERY app Deliveroo announced on Thursday (13) its first annual profit as orders and revenue rose, while the 12-year old company sees further growth despite exiting Hong Kong.

The milestone follows sizeable full-year losses owing to high investment costs since American Will Shu founded the company in 2013 and made Deliveroo's first delivery in London.

Keep ReadingShow less
Government to abolish payments regulator to boost growth

Keir Starmer (R) and Rachel Reeves host an investment roundtable discussion with members of the BlackRock executive board at 10 Downing Street on November 21, 2024 in London, England. (Photo by Frank Augstein - WPA Pool/Getty Images)

Government to abolish payments regulator to boost growth

PAYMENTS REGULATOR will be abolished and its remit absorbed by another financial regulator, the government said on Tuesday (11), as it aims to cut red tape in favour of growth.

The Payment Systems Regulator (PSR), which oversees systems including MasterCard and bank transfers, tackles problems such as fraud, excessive fees and lack of competition among banks and payment providers.

Keep ReadingShow less