Amid a 30% projected growth in the sector, doubling the size of retail space, an emerging entrepreneurial generation and robust economic forecast, outlet franchising unlocks key opportunities in the Kingdom
Jeddah, Saudi Arabia, 28 May, 2013: The evolving personal care brand from SPRET Retail, Magiff announced today the launch of new business franchising schemes that would transform the local retail practices. The schemes would also contribute to the women's efforts to penetrate the local workforce and come at a time Saudi entrepreneurship is gaining momentum as a major contributor to the Kingdom's future generating more than 25% of jobs in Saudi.
Magiff is a personal care brand with focus on hand and feet care established in coordination with the world's leading franchising strategy consultancy, Francorp. Launched globally in the US in 1993, the brand is at the doorstep of a major expansion phase in Saudi with unique franchising schemes as local consumers have increasingly been demanding for the world's latest trends. In fact, the Saudi retail beauty sector has been witnessing one of the world's highest growths exceeding the 30% mark across all levels and outperforming the 10% global level with special interest in innovative specialized products such as hand and nail care.
This entire positive outcome is also backed by the demographic and shopping trends that indicate continuous growth exceeding 20% year-on-year due to a severe shortage of shopping space despite the presence of more than 60 malls in Jeddah and Riyadh alone.
Naseem Ahmad Jawa, Director Retail of SPRET, the trading company of Magiff said: “We are pleased to launch today an innovating franchising scheme for the Saudi market that will help creating hundreds of jobs in the coming 3 years. Small and Middle enterprises would be the focal point of interest for Magiff Franchising module targeting the young generation that forms more than 70% of the Kingdom's population. We call upon all small and medium enterprises to explore the genuine opportunities in our franchising schemes.” Naseem added: “Saudi women's entrepreneurship potential is also another opportunity empowering local women that represent a major and relevant source to the development of franchising sector especially in the beauty sector that appeals profoundly for women.”
In addition to conventional retail space in malls, major new additions will take place with the huge expansion plan at Jeddah airport and its duty free that will open in 2017, the expansion of Aljanadriah festival retail capability, and the all year round Umrah visa policy.
Magiff has a hand and feet care range with products that include natural moisturizers, scrubs and nail care solutions. Magiff products have clinically proven formulas and rich blends of natural extracts that stimulate and maintain the balance of natural oils and moisture present in the body. The brand believes in the “show and sell” concept, with live demonstrations being an integral part of its selling techniques. It was introduced in the UAE, in 2004, and is wholly acquired by SPRET.
For more information on Magiff, please visit www.magiffme.com