Nayomi announces 17% increase in sales across the GCC
Nayomi, the region’s leading lingerie and nightwear retailer, today announced an overall growth of 17% in the first half (Mar-Aug) of 2014. The robust growth in revenues across all six GCC countries was driven in part by strong sales of their autumn and Ramadan collection. Senior management at Nayomi have also announced the latest in their aggressive expansion strategy which entails an impressive one store opening per month in the region for the remainder of 2014.
Initially founded in KSA in 1992 by Kamal Jamjoom Group, Nayomi has developed into the most popular and distinctive lingerie retailer in the GCC. Despite fierce competition in the lingerie retail market Nayomi remains ahead of the curve, showcasing impressive sales growth in the region.
The UAE remains a strong market with a 26% increase (YoY) in net profits for the period Mar-July. The brand witnessed record sales this Ramadan in the UAE with an increase in sales of 33% compared to the same period last year. KSA also remains a significant market with a net profit growth of more than 19% (YoY) for the period Mar-Jul. Nayomi stores in the Kingdom witnessed impressive results with a 17% sales increase compared to Ramadan period last year.
Stephen Holbrook, Brand Director and Board Member of Kamal Jamjoom Group, commented: “Nayomi’s achievements are the natural result of numerous factors, including our deep understanding of the region and consumers, our powerful retail presence and our aggressive expansion plans for the brand.”
Earlier this year, Nayomi took an important step in their strategic development plans when Founder and Chairman, Mr. Jamjoom opened the doors to their newest store design, the Nayomi Princess Palace which is on average, an impressive 350sq m store concept that can be found in 5 cities across KSA. With their first UAE Princess Palace being announced in the Yas Mall, Abu Dhabi before the end of the year.