Karl Lagerfeld to expand in Middle East
Karl Lagerfeld has futhered his global expansion plans by signing a five-year deal with the Chalhoub Group, which will see 15 stores open in the Middle East by 2018.
Karl Lagerfeld is planning to expand his business in the Middle East.
The German-born designer has inked a five-year deal with Dubai-based holding company Chalhoub which will see 10 Karl Lagerfeld concept stores open in the region, with a further 15 shops by 2018.
Patrick Chalhoub, Co-Chief Executive Officer of the Chalhoub Group, told WWD: ''We believe that by combining our expertise with Karl Lagerfeld's iconic vision and strategy, we will be able to build a successful brand in the Middle East region and respond to customers' needs and aspirations.''
The first stores are set to open in the Stars Avenue Mall in Jeddah, Saudi Arabia, next month and will feature all of the designer's eponymous brand's products, including accessories and ready-to-wear.
The Chalhoub Group already operates boutiques in the Middle East by luxury companies including Ralph Lauren, Lanvin, Lacoste and Marc Jacobs.
Pier Paolo Righi, CEO and president of Karl Lagerfeld, added that this would help plans to open 100 new stores around the world over the next five years.
This move is the next logical step in Karl's global expansion following store openings around Europe and an attempt to break into China's market.
Holding company PVH recently acquired a minority stake in Karl Lagerfeld and has embarked on an ''aggressive growth stategy'' in North America.
It also coincides with the fashion mogul heading over to Dubai on May 13 to showcase Chanel's latest cruise collection.