The retailer, which currently has two stores in the UAE, recently announced it would expand in the UAE, Kuwait and Qatar with a further 7 stores. The KSA agreement will bring the total number of stores in the Arab World to eleven within the next 3 years.
JustKidding was established in Dubai in 1996 and currently turns over Dhs14m annually. With a strong online presence and more than 20,000 customers per year, the brand looks set to go from strength-to-strength, with JustKidding anticipated to be worth more than Dhs150-200m within the next 3 years.
The deal with Rawafed Group includes a five-year renewable contract for the exclusive rollout of JustKidding stores and boutiques in the Riyadh, the first store will open in Riyadh’s Localizer Mall, after which a boutique store will be openen in Riyadh as well. Further expansion in the Kingdom is still under discussion.
Rawafed Fashion Est was established in 2012 in KSA by Chairman of the Board & President Mr.Saud Al Arifi and now boasts an impressive and diverse portfolio of businesses. The group plans to bring high-end fashion & children’s retail to the mass mall market.
Annemarie Retera, CEO and co-founder of JustKidding commented, “The baby-product market in the Middle East and in particular Saudi Arabia is going from strength to strength due to high disposable incomes, high birth rates, a young population and a clear appetite for strong brand names. In fact, baby products have been hailed by industry professionals as a key growth industry for the years to come. In KSA there is a real lack of expert retailers who can really give new parents the level of support and expertise they require when setting up home for their new arrival.”
Habib J Kashouh, General Manager, “We at Rawafed Fashion Est. have a certain vision about the wellbeing of children in Riyadh city, which represents a substantial chunk of the retail market in Saudi Arabia. Supported with the affluent high disposable income of the Saudi consumer, the idea of creating a luxurious platform to cater for the needs of this market seems very lucrative and promising if supported very well.
Hence and for the above reasons we have decide to partner with JustKidding because they represent all that we aim at. They rhyme very well with our vision and will be our best allies assisting us to accomplish our mission. They have extensive experience catering to the particular needs of youngsters in the best and most efficient way, therefore we felt that it would be ideal to replicate their success story in Dubai here in Riyadh city.
We are very proud to announce the beginning of this mutually beneficial life long relationship which we know will reflect very positively on the Saudi market.”
Retera concluded: “Our business model is very much focused on the quality offering of our products and the high-level of customer service we offer to our clients. We founded JustKidding as new parents desperate to find quality and safe products for our children. This is what differentiates us from other retailers in this space. We are confident that we can take this same offering and create extremely successful stores with Rawafed Group in Saudi Arabia, making sure that parents all over the GCC have access to the very best products for their children. ”
Thursday, March 28- 2013 @ 16:30 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.