Apparel Group signs partnership agreement with Koton, solidifying growth strategy in the Middle East region
Apparel Group, a leading retail conglomerate, has signed a new partnership agreement with Turkey’s leading fashion brand, Koton.
This partnership aligns with Apparel Group’s strategy to expand its market presence through retail and online sales channels.
Adding to Apparel Group’s diverse portfolio with 2,200 stores across 14 countries, Apparel Group will now manage Koton’s retail operations in new markets including Kuwait, Oman, and Qatar, alongside existing stores in the United Arab Emirates, Saudi Arabia, and Bahrain.
The preliminary agreement has been completed, and the finalisation of the partnership is expected by the end of the year.
This strategic alliance will enhance Koton’s reach, adding to its existing 440 stores and online sales in over 70 countries.
Koton has 19 stores in the United Arab Emirates, Saudi Arabia and Bahrain. The Apparel Group partnership aims to increase the efficiency and sales of the existing stores in the region, and plans to enter the Kuwait, Oman and Qatar markets. In the medium term, it is aimed to strengthen Koton’s presence in the region with new store openings.
This strategic partnership not only leverages the strengths of both Koton and Apparel Group but also demonstrates their commitment to providing quality fashion and exceptional service across the Middle East.
Together, they are poised to achieve significant growth, enhance customer experiences, and solidify their leadership in the region’s dynamic retail market.
Neeraj Teckchandani, CEO of Apparel Group commented “We are thrilled to announce our partnership with Koton in the Middle East.
Combining Apparel Group’s deep regional knowledge, business development expertise, and extensive operational and logistics network with Koton’s exceptional brand reputation and unique customer offerings, we are embarking on a promising journey. Together, we are laying a robust foundation for our global growth strategy.”
Koton CEO Dr. A. Bülent Sabuncu: We will reach our sustainable growth targets faster with our strong business partner.
“2024 is a year in which we are moving step by step towards our global goals. In the medium term, we announced our goal of opening 130 to 150 new stores, mainly abroad. We recently announced our entry into the Hungarian market. Now we are signing a much bigger cooperation for the Gulf region, one of Koton’s biggest markets. We are combining forces with Apparel Group, one of the strongest retailers in the region.
The partnership agreement we have signed will strengthen our brand in the international market and play an important role in achieving our growth targets.
The combination of Koton’s brand strength, experience in planning and inventory management with Apparel Group’s know-how, business development, operations and logistics network in the region constitutes one of the important steps of Koton’s global growth strategy. With our strong business partner, we will reach our sustainable growth targets faster.”
