INSJÖN, Sweden--(BUSINESS WIRE)--Regulatory News:
As previously announced, Clas Ohlson (STO:CLASB) has signed a franchising agreement with SYH Retail to establish the Clas Ohlson’s retail concept in the GCC region (Gulf Cooperation Council), with a first store to open in Mirdif City Centre in Dubai, one of the largest shopping centres in the region.
Today it can be announced that the Clas Ohlson store in Dubai will open on 30 April 2014. The Grand Opening Event will include elements from a traditional Clas Ohlson opening ceremony such as Swedish folk music and traditional Dalecarlian horses.
“We very much look forward to the opening of the first Clas Ohlson store outside of Europe. In addition to growing our business into a new market, the store in Dubai also enables us to expand via franchising for the first time. We very much look forward to work with the strong team at SYH Retail to help and inspire the Dubai consumers by offering solutions to practical problems in their everyday life”, says Klas Balkow, President and CEO Clas Ohlson.
“We are happy to offer the Middle East consumers our smart solutions that will inspire and improve their everyday life. Clas Ohlson offers a new concept in the region, making shopping convenient and fun”, says Seda Bayarlar, Managing Director, SYH Retail, Al Homaizi Group of Companies.
As previously announced, two stores are planned to be established in the region in 2014. Following an evaluation of the initial stores, the ambition is to establish at least 20 stores across the region over a five-year period.
Clas Ohlson was founded in 1918 as a mail order business based in Insjön, Dalarna, Sweden. Today, the company is trading in four countries offering outstanding service via its over 180 stores, web shop, catalogue and telephone sales channels. Clas Ohlson helps its customers solve everyday practical problems with a wide range of affordable products in five product areas: Hardware, Electrical, Home, Multimedia and Leisure. The company is listed on the NASDAQ OMX Nordic Exchange, has sales of approximately 6.7 billion SEK and over 4,300 employees. For more information on Clas Ohlson, please visit www.clasohlson.com.
This information was brought to you by Cision http://news.cision.com