Dubai PR Network, Online Press Release from Dubai and Middle East
Filter PR by
  
Signs of an improving Iraqi luxury market Paris Gallery franchisee to open five stores in Iraq
Signs of an improving Iraqi luxury market Paris Gallery franchisee to open five stores in Iraq

Dubai, UAE - October 16, 2012: Paris Gallery, the leading luxury retailer, in a joint press conference with the Al Handal International Group, announced that Paris Gallery is opening 5 franchise stores in Iraq. The announcement was followed by the signing of a franchise agreement between Mr. Mohamed A. R. Al Fahim, the CEO of Paris Gallery, and Mr. Mohammed Al Handal, the CEO of Al Handal International Group, with the presence of General Consul General of Iraq, H.E. Mr. Ismat Ageed Siddiq.

H.E. Mr. Ismat Akid commented on this agreement “We are very pleased with having luxury name as Paris Gallery in Iraq, we considered as a positive sign for Iraq economy”

Mr. Mohamed A. R. Al Fahim said 'We have been looking forward to this day, and the time is right. In the past we have had several companies who wanted to open Paris Gallery stores in Iraq, but the conditions were not favorable for us to do so. After much deliberation and research we have now partnered with the Al Handal Group, a successful company, who shares the same business philosophy with us. We believe in their ability to take this forward successfully in a way that will uphold the solid reputation that Paris Gallery has built over the years.'

'We are in an expansion mode now. We are well set in the UAE, and strengthening ourselves in the GCC countries. We are also eagerly looking forward to the other markets in the world. Paris Gallery has an efficient team that focuses on taking Paris Gallery forward.  2013 will be a big year for us as we have many stores planned to open in different parts of the world,' concluded Mr. Mohamed A. R. Al Fahim, the CEO of Paris Gallery.

The CEO of Al Handal International Group, Mr. Mohammed Al Handal, said, 'We are so honored and delighted to win the franchise for Paris Gallery in Iraq.  We have been looking forward to having the contracts signed and we are eager to go forward with the setting up of the first store in Baghdad. We have very high expectations.  Paris Gallery has a solid reputation and a great organization.  Their experience in the luxury segment spans more than four decades. We are sure to benefit from their experience and expertise. We are excited as we believe that Paris Gallery will bring something special and unique that our Iraqi market needs.'

Paris Gallery is also expanding into countries like Azerbaijan and Oman, as well as being in negotiations with potential clients in other countries. When asked about how Paris Gallery's views on the current situation in Iraq, Mr. Mohamed A. R. Al Fahim, the CEO of Paris Gallery, said: 'Iraq is in a transition phase now, moving from unstable to stable. The people of Iraq are optimistic and are welcoming new investments. The social and economic situation is improving. We have high hopes for the country and its people. We believe that by the time we are set to open our first store in Iraq, the situation in Iraq will have improved to a great extent. Our new partner, the Al Handal Group, is optimistic and believes that this is the right time to invest in the country.'

Reports have it that Iraq's economy is showing serious signs of growth. One of the encouraging signs of Iraq's economic recovery is foreign investment. It has also been reported that foreign investment and other commercial activity in Iraq rose by 40% last year. Iraq is opening its doors to businesses worldwide. Optimistic investments of well-known organizations like the Paris Gallery Group are a clear indication of this.

The Al Handal International Group is set to open five stores in the next three years with two stores in Baghdad, two in Erbil and one in Basra.

Posted by : Paris Gallery L.L.C. PR, Paris Gallery Media.
Viewed 9058 times
PR Category : Lifestyle
Posted on : Tuesday, October 16, 2012  1:14:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to

Related Stories

 
 
Most Viewed Press Release posted in the last 7 days
Make Up for Ever Introduces for the First Time Its New Active Care-in-foundation to Revive... [6326-Views]
HONOR 2020 H1 Business Achievements in International Markets [4022-Views]
Here's Why A Silicone Cleansing Brush Champions Other Cleansing Tools and Techniques [3682-Views]
Get Your No-MakeUp MakeUp Look With Hourglass [3563-Views]
Samsung Launches Galaxy Watch3 and Galaxy Buds Live [3325-Views]
Panasonic Jaguar Racing Head to Berlin for a Lockdown Showdown [3264-Views]
Save up to AED 25,000 on Pre-Owned Lexus Cars with Al-Futtaim Auto Fest [3120-Views]
Safe Start-up of Unit 1 of Barakah Nuclear Energy Plant Successfully Achieved [3026-Views]
Parmigiani Fleurier Tonda 1950 Tourbillon [2993-Views]
Sony Middle East & Africa Announces ‘Ready for PlayStation®5' for current BRAVIA™ TVs [2595-Views]
Introducing the New Omega Constellation Gents' Collection' [2403-Views]
Lacoste Launches the Roland - Garros Eyewear Collection [2390-Views]
UAE Team Emirates Back to Winning Ways [2345-Views]
Pre-Orders for Samsung's Galaxy Note20 and Galaxy Note20 Ultra Now Open in the UAE [2288-Views]
Up to €500,000 to Support the Most Promising Innovators: The Agrofood BIC Accelerator Issu... [2202-Views]
Jafza Sets a New Benchmark With ‘collaboration for Safe and Sustainable Growth' Webinar' [2173-Views]
The Last Few Weeks of Dubai Shopping Mall Group's Summer Promotion [2050-Views]
The Best Just Got Better – Sony Middle East & Africa Announces WH-1000XM4 Industry-Leading... [2034-Views]
Kia Motors Collects Over 2,000 Pairs of Football Boots via UEFA Europa League Trophy Tour ... [2021-Views]
Cebu Pacific Advisory: Suspension of Domestic Passenger Flights to/from Manila – Aug 4 to ... [2005-Views]
Dubai Sports Council and Ski Dubai to Host One of the World's First Snow Sports Competitio... [1972-Views]
Malabar Gold & Diamonds Opens 2 New Showrooms as Part of Its Global Expansion Plan [1870-Views]
New Month, New Goals [1857-Views]
Face Shields Now Required for Cebu Pacific Passengers [1820-Views]
Post-COVID Travel is Set to Become Smarter. Here's How. [1812-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories