Mubasher: Global Investment House announced that Yargıcı Konfeksiyon Ihracat ve Ticaret, one of the leading women fashion retail brands in Turkey since 1978 has recently signed master franchise agreements with two major retailers in the GCC to execute expansion plans in the Saudi and Kuwaiti markets.

The major franchise agreement signed with the Saudi retailer, Mosa Ibrahim Al Kaltham & Sons Group, expects opening three stores in Jeddah and Dammam with the first two stores planned to open in March 2018.

“The stores will feature women fashion including clothing, shoes, bags and accessories,” the statement said.

Formed over 50 years ago, Al Kaltham group sells goods primarily for the bedroom, bathroom, kitchen, tableware, cloths, and other textiles products.

Tamdeen Group, a leading Kuwaiti real estate developer, will open the first Yargici store in the first week of April, with plans for expanding in more locations.

Tamdeen Group, through its subsidiary 360 Style Co., operates international brands like Gucci, Bottega Veneta, and Saint Laurent through joint ventures and franchise agreements, in Kuwait.

“The newly established subsidiary, Tamdeen General Trading, of which Yargici will be a part of, will be representing and operating a number of affordable luxury and fast fashion and accessory brands,’ the statement added.

Yargıcı Konfeksiyon is owned and managed by the alternative asset management arm, Global Capital Management, according to a recent statement.

Global is a regional asset management and investment banking firm headquartered in Kuwait with offices in major capital markets across the Middle East and North Africa (MENA) region.