Saudi retail group Master Franchisers FZCO has expanded its portfolio of Master Franchise Licenses to include Italian fashion bags, leather goods and luggage retailer Carpisa. The agreement covers the Middle Eastern region, and expands the relationship between the two companies that has already seen two Carpisa stores open in the Kingdom of Saudi Arabia through Master Franchisers FZCO's affiliate company International Specialised Stores Co. A further five stores are initially planned in key mall locations in Riyadh and Jeddah.
"Carpisa has a unique and differentiated product offering and a clear potential to establish itself as a brand leader in the region," says Master Franchisers FZCO General Manager Roger Francis. "Development is underway and we are looking for solid retail partners to be part of the brand's success story in the Middle East."
Carpisa is currently established in 243 locations across Italy, as well as stores in Japan, Malta, Russia and Switzerland. "The Middle East will be one of the most important markets for Carpisa both in terms of image and volume," says Maurizio Carlino, Chief Executive of Carpisa's parent company Kuvera. "The only way for us to proceed is to work with a strong, local partner like Master Franchisers FZCO, whereby we join our new concept with their know how of the local market and the Arabic customer."
Published: 15 August 2006
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