Apparel Group to enter Iran by late 2017
Apparel Group, the Dubai-based retail conglomerate, is set to invest at least $120 million in capital expenditure to open 300 stores globally in 2016, with plans to enter the Iranian market by the end of 2017. The company is also looking to grow its geographical footprint in the GCC, Africa, and Asia. It currently as 1,200 stores and plans to have 1,500 by the end of this year. Nilesh Ved, chairman of Apparel Group, said the company was in talks with some brands with which it already has franchise agreements to enter the Iranian market, but ...
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