Arabian News reports that Kuwait’s MH Alshaya Co, the Gulf franchise holder for H&M, Starbucks and TopShop, plans to debut the mother and baby equipment chain Mothercare in Erbil later this year, in a bid to tap into the country’s 30 million-strong population.
This will be the Alaysha’s first retail outlet in country.
“We believe it is a region with real potential and look forward to developing a presence there in line with our agenda of growth,” a spokesperson for Alshaya told the news agency.
Last month Mothercare announced plans to open a further 150 international stores – prime expansion regions include South America and the Middle East. Chief executive Ben Gordon said: “Iraq has 30 million people – clearly it is a country with a lot of potential.”
By contrast, the company plans to close 110 stores in the UK.
In an effort to rebuild an economy battered by years of war, Iraq has opened its doors to commercial investors and Gulf firms have been among the first to respond.
(Source: Arabian News. The Guardian)