Launch of the new store aligns with the group’s expansion strategies in the MENA region
The Brands For Less (BFL) Group, one of the largest retail leaders in the UAE, announced the official opening of its first Brands For Less store in Al Sad Street, Qatar. The launch marked the retail company’s entry into the Qatar market, which is in line with the group’s expansion portfolio and vision for 2022. Likewise, the BFL Group is also set to open its second store at the City Center Doha Mall in the next two weeks.
BFL Group's latest expansion moves reflect Qatar's steady growth in a variety of industries, including retail. According to reports from 2021, the International Monetary Fund (IMF) predicted a positive recovery of 2.4 per cent in annual growth for Qatar's economy by the end of the year, with outputs expected to return to pre-crisis levels by the beginning of 2022. The IMF further identified the post-pandemic recovery and the FIFA World Cup 2022 tournament as substantial growth drivers, predicting an overall growth of 3.6 per cent in 2022. BFL Group has taken advantage of this recovery to help facilitate business growth and provide quality offerings to the consumers of Qatar, in line with the company’s expansion strategies for 2022. The retail leader has also reported a growing customer demand in the retail sector, and how e-commerce has been playing an important role in driving this demand.
Toufic Kreidieh, Co-Founder and CEO of Brands For Less Group, said: “The BFL Group's unique proposition and mission is to always provide everyone with access to top brands at competitive prices, and this is yet another milestone in our journey of business growth. Qatar emerges as an ideal location for business growth, as the country has the highest GDP per capita in the world, despite its small population, and relies on international partners to achieve strategic goals, driving business opportunities for a multitude of countries. These developments have allowed the country to pave the way for many companies to expand their businesses, as a result of which, BFL group was successful in expanding its operations to Qatar with two new stores.”
The BFL Group is MENA’s largest off-price retailer that always offers something new for its customers. The company is known for its unique ‘treasure hunt’ experience where customers can find new items every time they enter the store, in addition to its exclusive pricing on apparels from over 3,000 brands. Consumers in Qatar will be able to experience these creative concepts as a result of the brand's expansion, which will further strengthen BFL group's business growth.