Just two years following its collapse-- and eventual rescue by restructuring expert Hilco-- entertainment chain HMV feels bullish enough to set sights for international expansion, specifically in the M. East.
In what appears to be a sign of improving fortunes the retailer plans to open 15 outlets in Qatar, Bahrain, Kuwait, Oman and the United Arab Emirates through a licensing agreement with Qatari conglomerate Al Mana Lifestyle Trading. It is also looking for MEA partners in Egypt, Algeria, Tunisia and Morocco, as well as further expansion towards Australia, China and India.
“We have been approached by so many people,” Hilco CEO Paul McGowan says. “We are happy with where we are at this point in time. We are consolidating market share in all the markets we are in. It makes sense to look overseas.”
Closer to home the retailer plans to open 5 more stores in the UK, bringing the British HMV outlet count to 125.
Go HMV
Go Resurgent HMV to Open String of Stores Across the Middle East (The Telegraph)
