With Clas Ohlson’s strong concept, brand and market position in the Nordic
region as a base, sights are now set on continued international expansion.
Through franchising, as a complement to Clas Ohlson’s primary establishment
strategy based on wholly owned operations, additional growth opportunities can
be created in new markets.
A franchising agreement has been signed with SYH Retail, Al Homaizi Group
Company, regarding the establishment of Clas Ohlson’s retail concept in the GCC
(Gulf Cooperation Council) region, which includes the United Arab Emirates,
Kuwait, Saudi Arabia, Qatar, Oman and Bahrain. The agreement pertains to the
establishment of first two stores in United Arab Emirates or Kuwait with opening
scheduled during 2014. Following an evaluation of the initial stores that are
established there, the ambition is to establish at least 20 stores in the region
over a five-year period.
“The cooperation with Al Homaizi Group, which is an experienced and successful
franchisee with a strong market position in the GCC region, opens up potential
for complementary business opportunities in an attractive region with more than
40 million inhabitants and an expansive retail market offering anticipated
annual growth of 8 per cent over the years ahead. We have a unique and
attractive concept that will satisfy a growing need in the region to find smart
solutions to everyday practical problems,” says Klas Balkow, President and CEO
of Clas Ohlson.
Al Homaizi Group, a family business based in Kuwait, was founded in 1961 and
since then has succeeded to establish a long and solid franchise experience by
operating global brand partnership business throughout the GCC Region and
Northern Africa. The Al Homaizi business represents home furnishing, fashion and
food with brands as IKEA, Burger King, Franklin and Marshall and Pizza Hut among
“Al Homaizi Group’s ambition is and has always been, to improve our business
operation by focusing to the best of our customers. We are happy and proud to be
the selected partner. This is a proof of our ambition and success over years and
the result of our deep roots in the retail industry.
The 100 years experienced Clas Ohlson concept is new for our region. It is very
inspiring to launch a new business that will ease and contribute in the everyday
life at home and work.
We are proud to establish and to put all our effort into a sustainable growth
throughout the years in the region. Clas Ohlson franchise partnership with SYH
Retail is a fresh start, growing new success stories for the future” says Seda
Bayarlar, Managing Director SYH Retail, Clas Ohlson Franchisee.
For more information, contact:
Klas Balkow, President and CEO, +46 247 447 55
John Womack, Director of Information and Investor Relations +46 70 678 24 99
Seda Bayarlar, Managing Director SYH Retail, Clas Ohlson Franchisee +971 505
About Clas Ohlson
Clas Ohlson was founded in 1918 as a mail order business based in Insjön,
Dalarna, Sweden. Today, the company has 178 stores in four countries and sales
via the Internet, mail order, telephone and social media. Clas Ohlson helps its
customers solve everyday practical problems with a range of affordable products
in the five product areas: Hardware, Electrical, Home Multimedia and Leisure
categories. The company is listed on the OMX Nordic Exchange and has
approximately 4,300 employees. For further information about Clas Ohlson, visit
http://about.clasohlson.com (financial information) or