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American clothing superbrand Abercrombie & Fitch is gearing up to dominate Dubai's preppy fashion scene with the announcement of its first store in the region set to open in 2014.
The news comes one month after the label's parent company announced its sister label, Hollister, would open its first Middle East branch in the Mall of the Emirates later this year.
Both store openings are part of a joint venture with Majid Al Futtaim Fashion, the retail arm of local business Majid Al Futtaim Ventures.
"I'm delighted to finalise Majid Al Futtaim Fashion's partnership with Abercrombie & Fitch," said Asil Attar, CEO of Majid Al Futtaim Fashion.
"With our initial store projected for 2014 in Dubai, we will work closely with Abercrombie & Fitch to ensure we remain true to the brand's lifestyle concept, and work on a strategic rollout plan to increase the brand's presence across the region."
Ahmed Galal Ismail, CEO Majid Al Futtaim Ventures, said: "The signing of another joint-venture with leading retailer Abercrombie & Fitch Co., reflects our demonstrated understanding of the region's evolving retail landscape.
"The Abercrombie & Fitch brand is an iconic label that will enhance Majid Al Futtaim Fashion's already established portfolio of brands, and cement its reputation as the preferred strategic partner for the world's most desirable brands."
Fenox Venture Capital firm has inked a partnership with Innovation 360, a Dubai-based innovation consultancy to invest in start-ups in the region.
The sportscar comes with a 2020 number plate in recognition of Dubai's Expo 2020 win.
American fashion house will open a Hollister store in Mall of the Emirates in Q3 of this year.
Rents in the emirate did not change quarter-on-quarter in Q3 but sales prices continued to dip during this period, a new report shows