The Landmark Group
Named as the region's retailer of the year in 2008, the group has been on a continuous expansion spree since its humble beginnings in Bahrain in 1973.
June 17, 2008 1:54 by kippreport
Expansion has been the key word for the group, which soon hopes to become the largest retailer in the region. The Landmark Group has just signed a lease agreement for 500,000 sq ft in the upcoming Mall of Arabia, where it will feature its brands. It also has plans to develop a family entertainment centre concept at the mall.
At the beginning of the year, Landmark announced that it was set for two major retail acquisitions, one each in the US and the UK, at a total investment of about $10bn. The group’s chairman, Jagtiani bought 3.2 million shares in UK department store chain Debenhams, worth $5.5m. Jagtiani, who now holds 7.3 percent in the high-street retailer, said it was a “short-term strategic deal” which could become a long term investment.
In 2006, Landmark announced plans to open 100 stores in Spain within the next 10 years and in also said that the company was in talks with Carrefour about opening up to 200 stores in India.