Business

Majid Al Futtaim, a leading name in shopping malls, communities, retail, and leisure across the Middle East, Africa, and Central Asia, has announced a major expansion of its luxury retail portfolio in 2025. The expansion is marked by new strategic partnerships with prestigious Italian brands Eleventy, Corneliani, and Poltrona Frau, highlighting the Group's commitment to offering exclusive global experiences across its lifestyle segment.

Following a record-breaking 2024 that saw a 26% year-on-year growth in its Lifestyle business, Majid Al Futtaim aims to launch over 30 new stores this year across the UAE and Saudi Arabia. These developments reinforce its vision to redefine luxury retail experiences in the region.

Among the key highlights of the expansion:

• Eleventy will open five standalone stores in 2025, including locations at Solitaire Mall in Saudi Arabia, Mall of the Emirates, Marsa Al Arab, Dubai Mall, and The Grove in the UAE. Known for its sustainable approach and premium Italian craftsmanship, Eleventy has previously operated in the region through pop-ups and shop-in-shops.

• Corneliani, the iconic Italian menswear brand, opened its first standalone store in the region this April at Solitaire Mall, Saudi Arabia. The brand is celebrated globally for its heritage, craftsmanship, and modern elegance.

• Poltrona Frau, a luxury furniture brand also based in Italy, will debut its first store outside the UAE at Centria Mall in Riyadh this May, further strengthening its footprint in the GCC. The brand saw its revenue multiply fivefold in 2024 following a successful store launch at Mall of the Emirates.

Fahed Ghanim, CEO of Majid Al Futtaim Lifestyle, emphasized the company's focus on curating a distinct luxury experience:

“In a region where customers have an abundance of choice, our ambition is to curate a portfolio of luxury brands that offer something truly distinctive. Introducing brands like Eleventy, Corneliani, and Poltrona Frau brings new dimensions to the luxury market, combining timeless craftsmanship with modern sensibilities.”

The Group's growth strategy has been deeply rooted in its THAT Concept Store, which serves as a platform to identify, test, and grow premium brands in the region. This platform played a pivotal role in nurturing Eleventy from a concept store presence to full-fledged retail locations.

Executives from partner brands expressed enthusiasm about the collaboration:

• Marco Baldassari, Co-Founder and Menswear Creative Director at Eleventy, praised the partnership:

  “Our philosophy of understated elegance and commitment to sustainability resonates with the sophisticated Middle Eastern consumer.”

• Nicola Coropulis, CEO of Poltrona Frau, shared“We are excited to bring our expansion momentm to Riyadh, marking another key step in our regional journey with Majid Al Futtaim.”

In 2024, Majid Al Futtaim opened 17 new stores, reaching a total of 87 stores and expanding its digital presence with 27 e-commerce platforms. The year also saw a 31% increase in digital sales, signaling the growing demand for omni-channel retail experiences.

Looking ahead, Saudi Arabia remains a focal point in the Group’s 2025 expansion plans, with seven new stores set to open in the Kingdom. This aligns with the region’s rapid economic development and increasing demand for premium lifestyle offerings.

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