Majid Al-Futtaim expands luxury retail footprint in region
Majid Al-Futtaim has announced an ambitious expansion of its luxury retail portfolio for 2025. Following a record-breaking 2024, which saw a 26 percent growth in its lifestyle business, the expansion will be anchored by renowned Italian brands Eleventy, Corneliani, and Poltrona Frau, with a series of store openings planned across key locations in Saudi Arabia and the UAE.
As part of its strategic growth agenda, Majid Al-Futtaim will launch more than 30 new stores, spanning both luxury and high- street brands across the region. The expansion will include five standalone Eleventy stores, the regional debut of Corneliani, and the first Poltrona Frau store outside the UAE in Saudi Arabia.
Fahed Ghanim, CEO of Majid Al-Futtaim Lifestyle, said: 'In a region where customers have an abundance of choice, our ambition is to curate a portfolio of luxury brands that offer something truly distinctive. By introducing brands like Eleventy, Corneliani, and Poltrona Frau, we are bringing new dimensions to the luxury market — combining timeless craftsmanship with modern sensibilities that resonate with the refined tastes of our customers.'
He added: 'At Majid Al-Futtaim, our work with luxury brands has been deeply rooted in THAT Concept Store, which has been instrumental in identifying and nurturing brands with the potential to thrive in this market. Eleventy's journey, from its initial shop-in-shop to standalone stores, is a testament to how we test, scale, and grow global luxury brands. This strategic approach allows us to continuously evolve the luxury retail experience, delivering fresh, distinctive offerings that resonate with our customers.'
The five standalone Eleventy stores opening in key locations this year include Solitaire Mall in Saudi Arabia, Mall of the Emirates, Marsa Al-Arab, which all open this month, with Dubai Mall and The Grove in the UAE to follow later in the year. This growth builds on Eleventy's successful presence in the region, which includes a shop-in-shop at THAT Concept Store, a pop-up at Mall of the Emirates, and its first standalone location in Marina Mall Abu Dhabi, which opened in November 2024.
Majid Al-Futtaim is further strengthening its partnership with Poltrona Frau, the iconic Italian luxury furniture brand, by introducing its first store in the region outside the UAE at Centria Mall, Riyadh, in May. Poltrona Frau achieved remarkable success in 2024, with its revenue increasing fivefold following the launch of its second UAE store at Mall of the Emirates
Italian luxury menswear brand Corneliani also made its regional store debut in April at Solitaire Mall in the Kingdom. Corneliani is one of Italy's oldest independent luxury brands, renowned for its meticulous craftsmanship and presence in more than 70 countries.
Marco Baldassari, co-founder and menswear creative director at Eleventy, said: 'Eleventy's philosophy of understated elegance and commitment to sustainability resonates strongly with the sophisticated Middle Eastern consumer. We are excited to strengthen our partnership with Majid Al-Futtaim, whose visionary approach to luxury retail is shaping a new vision with a growing focus on customer needs. Together, we aim to redefine luxury retail by offering timeless craftsmanship, sustainable practices, and innovative experiences.'
Nicola Coropulis, CEO of Poltrona Frau, said: 'Since partnering with Majid Al-Futtaim more than two years ago, we have focused on strategic growth and elevating the customer experience across the region. The revitalization of our flagship store in Jumeirah and our successful debut at Mall of the Emirates have been key milestones in our journey. We are now excited to bring this momentum to the Kingdom of Saudi Arabia with our first store in Riyadh, further solidifying our presence in the GCC and expanding our reach in this dynamic market.'
Majid Al-Futtaim's expansion in luxury retail builds on a record-breaking 2024, which saw a 26 percent increase in revenue across its portfolio and a 31 percent surge in digital sales. The year also marked the opening of 17 new stores across the region, bringing the total to 87 stores, including flagship locations for brands such as lululemon, Psycho Bunny, Shiseido, Crate and Barrel, and CB2, alongside 27 e-commerce platforms. Looking ahead, 2025 is set to be another milestone year for its lifestyle business, with plans to open 30 new stores across the region, including seven in Saudi Arabia — a key priority market for the group.
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