Marka, the UAE retail group listed on the Dubai Financial Market, has tied up with Real Madrid to tap into the club’s huge regional fan base.
In a five-year deal, the UAE retailer has licensed the Spanish football giants’ clothing across the GCC and will sell “street fashion” clothing with its brand.
“Real Madrid is one of the biggest sports brands in the world,” said Khaled Al Mheiri, vice chairman and chief executive of Marka. He said his company has 25 fashion products ready and has employed 10 designers, all under 25, to create designs that appeal to younger people.
“We have moved into licensing and you will see some important tie-ups being announced over the next three weeks. The Real Madrid brand is a huge draw and also ties in with Emirates as well.
“The softness in the economy has affected us, but I believe we are now at the bottom of the cycle, as the oil price has doubled over the past year, and 2017 will see Marka reach profit. We believe this Real Madrid tie-up will drive Dh200 million of revenues over the five years.”
The launch comes as the retail sector is hit hard by weakening consumer demand as the low oil price and strong dollar keeps shoppers away.
Retailers across the region are also battling against increasing competition from e-commerce.
The new clothing manufactured for Marka will be quality controlled and authorised by Real Madrid but will not be available at Real Madrid’s megastore in its home stadium the Santiago Bernabeu.
The products will initially be sold in Marka’s retail outlets such as Modell’s Sporting Goods, however the company has plans to distribute the products to other retailers.
Marka declined to disclose the price of the investment for the licensing deal. The retail group listed its shares in 2014 to tap investor demand in the then booming retail sector, which was not well represented on regional stock exchanges.
The company aimed to make a profit by 2016 but has struggled to break even.
Marka announced the opening of the first Middle East location of Italian coffee brand Ca’puccino at the Outlet Village in Dubai’s Jebel Ali on Monday with two more to launch in early 2017.
Marka’s chief executive Nick Peel resigned in December.
ascott@thenational.ae
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Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
COMPANY%20PROFILE
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Company%20profile
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The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
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In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
57%20Seconds
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More from Neighbourhood Watch:
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Install an air filter in your home.
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