Paris Gallery, the Dubai-based luxury retailer, has scrapped plans to expand in Syria, Egypt and Lebanon, following the unrest in parts of the Middle East.
Instead, the perfumes and cosmetics retailer will focus on economies it considers more stable, such as Iraq, Turkey, Azerbaijan and India.
"We opened one store in Aleppo, but the process started before the unfortunate events in Syria," said Mohammed Al Fahim, the retailer's chief executive. "We were in the process of opening in Egypt, Lebanon and we had planned to open a few more shops in Syria but this is all on hold."
"We are refocusing on Iraq, Turkey, Azerbaijan and India and maybe Iran," he said. "If we had planned to open three or four shops in Syria, we might now do this in Iraq instead."
(Source: Kipp Report, The National)