The first two stores are expected to open in Autumn 2021.
B&Q, a home repairs retailer and part of the Kingfisher plc group of brands, will soon open in the Middle East for the first time after a franchise agreement signed with the Al-Futtaim Group will see two B&Q stores develop in Saudi Arabia.
The first stores to come from this agreement will be around 50,000 square feet, and will feature an ecommerce platform that will be launched and ran by the Al-Futtaim Group. Store and office support will also be managed by the partner.
“We are excited to partner with Kingfisher, one of the most experienced home improvement retailers, to bring another trusted powerhouse to our customers in Saudi Arabia,” said Regis Schultz, president, retail for the Al-Futtain Group.
The Group currently manages over 200 brands across 20 countries, including the likes of Marks & Spencer and Ikea. It has been developing brands in the Middle East since the early 1990s.
“With the Al-Futtaim Group we have found the pre-eminent operator of retail franchises in the Middle East,” said John Wartig, chief transformation and development officer of Kingfisher plc. “They are a well-established and successful local partner who knows the market well, and are a strong partner with whom we can take our franchise plans forward. We are looking forward to working with them and introducing new customers to the trusted B&Q banner, as well as Kingfisher’s exclusive product brands.”
Kingfisher plc’s portfolio consists of 1,380 stores supported by 79,000 colleagues. Its stores operate under a variety of retail banners, including B&Q, Castorama, Brico Dépôt, Screwfix, TradePoint and Koçtaş.
“This franchise agreement leverages our ‘Powered by Kingfisher’ plan, and is a great opportunity to expand our business in the attractive Middle Eastern home improvement market with B&Q, one of our most established retail banners, as well as our differentiated owned exclusive brands,” said Thierry Garnier, CEO of Kingfisher plc. “I am delighted to be working with Al-Futtaim on this step in our plan.”