The Group's latest store opened at a time when the KSA’s retail industry is projected to reach USD 176.5 billion in 2026
December 06, 2022: Brands For Less (BFL) Group, one of the leading off-price and multi-brand retailers of the region, launched its fourth store in Saudi Arabia in keeping with the Group’s continued growth plans for 2022. The new standalone store, located in King Abdullah Street, Riyadh, is part of BFL Group's commitment to establishing a strong presence in the country, thereby advancing its overall growth strategies.
Customers' increased awareness of global shopping trends has caused a significant shift in the retail environment in KSA over the past few years. By opening its fourth store in the region, BFL Group takes advantage of the opportunity presented by this rising demand to broaden its business in the country. Additionally, this strengthens BFL's overall position in the region, given that Saudi Arabia's retail industry is projected to grow rapidly in the coming years, reaching USD 176.5 billion in 2026.
Moreover, the number of new trends in fashion retail in KSA and the retention of consumers after the global crisis have led to the opening of several new retail stores. In response, mall footfall has increased, and demand for unique fashion at affordable prices is on the rise. In light of these shifts, the BFL Group is well-positioned to expand its stores within Saudi Arabia.
Toufic Kreidieh, Co-Founder and CEO of the Brands For Less Group, stated: “We at BFL, with the goal of offering our products to customers across the region, continue to expand our exclusive collection of brands at the best value. This is further supported by the fact that more stores are being accommodated in malls and shopping centres as a result of the expanding population, giving customers access to a wider variety of products. Furthermore, with Saudi Arabia's retail sales expected to thrive in the next five years, the Group remains in a strong position to expand business and further solidify its presence in the region.”
The BFL Group is known for offering a unique ‘treasure hunt shopping' model to its customers, along with special prices on apparel from over 3,000 brands. With the Group's expansion within KSA, more consumers will be able to experience these distinctive concepts, thereby strengthening BFL's business and moving a step forward into fulfilling the retail leader’s expansion strategy for 2022.