- Danielle Wightman-Stone |
Italian luxury menswear label Ermenegildo Zegna has formed a joint venture with the Dubai-based Al Tayer Group to expand its reach in the Middle East.
The partnership will see Al Tayer take over from former partner, UAE Trading, as the main operator of Ermenegildo Zegna boutiques and other points of sale in the United Arab Emirates. To celebrate the joint venture, Zegna just opened a flagship inside the Mall of Emirates and has signed plans to open another outlet in The Dubai Mall by 2017.
The Al Tayer Group retail division represents more than 35 luxury brands and operates more than 200 stores in the region for brands including, Alexander McQueen, Boucheron, Bottega Veneta, Coach, Emilio Pucci, Giorgio Armani, and Jimmy Choo. As well as being headquartered in Dubai, Al Tayer also has operations in Bahrain, Saudi Arabia, Kuwait, Qatar and Oman.
Commenting on the partnership, Gildo Zegna, chief executive officer of Ermenegildo Zegna, said: “A joint venture is an approach we had taken in markets such as Australia and India in the last three years. This part of the world is very important to us, that's why we decided to step in with the same approach.
"This way we get closer to the customer with a more direct contact. Plus, a joint venture brings a local dimension to the equation and that's important.”