Abu Issa Holding – retail Iran

Qatar’s Abu Issa Holding to enter Iran retail market in 2017

Abu Issa Holding, one of the largest retail and luxury goods firms in the Middle East, plans to expand into Iran next year and open stores in Tehran selling watches and confectionery as the market opens up after sanctions.

The family-run Qatari firm is an example of a Gulf Arab business that could benefit from the lifting last January of nuclear-related sanctions that largely closed Iran off for years.

“It’s an obvious expansion for our business,” 48-year-old Ashraf Abu Issa, chairman and chief executive of Abu Issa Holding, said at the Reuters Middle East Investment Summit.

His company helped to introduce luxury watches and skincare products to Qatar in the 1990s. It now employs 4,000 staff and supplies over 250 brands in fashion, perfume, cosmetics, leather goods and electronics around the region.

“We will start with five or six stores in Tehran. We plan to open a similar number every year for the next five years and also in the city of Isfahan, which we expect to become a touristic hub in coming years.”

Abu Issa is using a model that other businesses in the Gulf may follow: he plans to serve as a go-between linking Middle East-based manufacturers and distributors of luxury items, often Western brands, to Iranian partners. He has spent two years establishing contact and negotiating business terms with the Iranians.

from

http://english.alarabiya.net/en/business/retail/2016/10/31/Qatar-s-Abu-Issa-Holding-to-enter-Iran-retail-market-in-2017.html

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s