Dubai: HMV, the British entertainment retailier, is set to expand further outside the United Kingdom by opening 15 branches within the Middle East.
The deal was signed by Hilco Capital, the owner of HMV, in agreement with Qatar’s Al Mana Lifestyle through a licensing agreement. HMV stores are expected to open in Qatar, the UAE, Bahrain, Oman and Kuwait, the company said in a statement, adding that Al Mana will also seek licensing partners in Egypt, Algeria, Tunisia and Morocco.
“We continue to seek further opportunities to leverage the brand equity of the HMV brand worldwide and look forward to bringing HMV to other territories and sectors in the very near future,” Paul McGowan, Hilco Capital’s Chief Executive Officer, said in a statement.
Hilco Capital, the owner of entertainment retailer HMV, bought the majority of the stores after HMV collapsed in 2013.
The Telegraph reported that HMV made “£17 million [Dh97.3 million] profit in the 11 months after it went into administration”. The retailer has more than 125 shops within Britain.
“Following the successful turnaround of HMV in the UK, Ireland and Canada, we are delighted to have agreed a licensing arrangement with Al Mana to partner with them to establish the HMV brand in the Middle East. Al Mana has a proven and immensely successful track record in retail in the region,” McGowan added.
Al Mana Lifestyle is an affiliate of AL MANA group which is a conglomerate based in Qatar with branches throughout the Gulf. The group was established in 1951. They operate over 300 retail across the region.
“HMV complements our existing retail line up and will offer consumers a vast number of products and services both in stores we are developing and on the internet through a dedicated e-commerce site,” stated Kamal Al Mana, Executive Director of AL Mana.
Omnia Ibrahim is a tarinee at Gulf News
