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GMG, VF Corporation strengthen alliance to broaden reach in MENA, SEA regions – Dailynewsegypt

GMG, a leading retail powerhouse, has declared an ambitious expansion of its longstanding alliance with VF Corporation, a titan in the branded lifestyle apparel, footwear, and accessories domain. This move, building upon a solid 12-year partnership, is part of a strategic distributorship and retail development pact. GMG is set to bolster VF’s brand visibility through an expanding array of new mono-brand partner outlets across the Middle East, North Africa (MENA), and Southeast Asia (SEA) over the forthcoming five years, thereby enriching the VF brand experience for a wider customer demographic.

Presently, GMG manages 90 VF mono-brand stores within the MENA and SEA territories. The company’s ambitious blueprint involves launching upwards of 300 stores in the next half-decade. GMG’s strategy includes introducing VF’s esteemed brands to pivotal Southeast Asian markets, inaugurating mono-brand stores, and propelling the E-commerce segment for select VF labels.

In the MENA locale, celebrated VF labels such as Vans®, The North Face®, and Timberland® are poised for significant mono-brand store expansion, with a particular emphasis on the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA). Additionally, VF’s brand footprint will grow in North Africa, with a strategic focus on Egypt to bolster its market presence. This agreement marks the debut of VF’s The North Face® brand in the North African market.

Mohammad A. Baker, Deputy Chairman and CEO of GMG, remarked, “This strategic enlargement and the incorporation of new markets within SEA mark a monumental juncture in our enduring and fruitful partnership with VF Corporation.”

The global retail sector, valued at $28.3bn in 2023, is projected to ascend to $37.7bn by 2027. The MENA region is witnessing consistent expansion, fueled by a burgeoning population, robust purchasing power, and a growing preference for premium international brands. Conversely, the SEA retail sphere is on the cusp of a dynamic growth phase, spurred by increasing disposable incomes, evolving infrastructure, favourable business climates, and a surge in tourism.

Martino Scabbia Guerrini, Executive Vice President, Global Chief Commercial Officer, and President of Emerging Brands at VF Corporation, expressed enthusiasm: “We are thrilled to fortify our enduring partnership with GMG, capitalizing on our synergistic capabilities to expedite international growth for VF’s brands within the MENA and SEA regions. This fortified collaboration is set to drive our brands’ regional market strategies, introduce cutting-edge solutions that refine our market entry tactics, and solidify our regional presence, thus enhancing our service to the local consumer base.”