Alhokair signs Saudi franchise for French electronic and cultural retailer, Fnac Darty

Alhokair signs Saudi franchise for French electronic and cultural retailer, Fnac Darty

Fawaz Abdulaziz Alhokair Co. ("Alhokair“), the leading franchise retailer in Saudi Arabia, has signed a franchise agreement with leading European electronic and cultural retailer, Fnac Darty, supporting its commitment to providing a diversified retail shopping experience to Saudi customers.Set to open doors in 2022, the first Fnac store in the Kingdom will bring an elevated experience-driven retail environment, and showcase multi-brand consumer electronics, household appliances, stationery, books, cultural and lifestyle products, and value-added services. Fnac Darty operates 908 stores, including 346 franchises around the globe. Last year, the company reported global revenues of over USD 8.9 billion, with online sales accounting for 31 percent of Group's turnover. Fnac Darty's franchise deal with Alhokair is the first move into the Saudi market.Speaking on the new franchise deal, Marwan Moukarzel, CEO of Fawaz Abdulaziz Alhokair Co., said: "This strategic partnership with a leading retailer of the caliber of Fnac Darty is perfectly in line with our objective to diversify our brand portfolio and drive sustainable growth. The European retailer's strategic focus on building a strong customer base with evolving experiences around electronics, multimedia and lifestyle categories, is a major milestone in Alhokair's journey to become the lifestyle retail partner of choice in