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Tesco announces new franchise model for F&F
Tesco has announced a new franchise model for F&F as it looks to turn the fashion label into a major global brand.
The F&F franchising model will see Tesco working with local partners to bring F&F to customers in a flexible range of settings, including stand alone stores within shopping malls and units within department stores and hypermarkets.
F&F clothing and accessories will first become available in Saudi Arabia later this year as part of a franchise agreement with retailer Fawaz Abdulaziz Al Hokair & Co (SJSC). Tesco is also exploring further franchise opportunities in other countries.
Jason Tarry, chief executive officer of F&F International, said:
“The franchise model is a natural extension of the work we have been doing to turn F&F into a truly global fashion brand.
“We have in a very short time created a market leading fashion brand in Central Europe, now worth over GBP 400 million. Now we have the opportunity to grow our brand further, in markets where Tesco does not have a presence.
“Al Hokair is an excellent partner for F&F. It offers local expertise, knowledge and franchise experience that will really make a difference for local customers.”
Simon Marshall, chief executive officer of Fawaz Abdulaziz Al Hokair & Co (SJSC) said: “We’re delighted to be partnering with Tesco, and to be the world’s first franchise partner for F&F, which has the expertise and the brand equity to become a leading player both in Saudi Arabia and other markets globally.
"F&F will augment and enhance our portfolio of international brands and has the potential to become one of the leading fashion brands in Saudi Arabia.”
The first F&F franchise is planned to open in 2012. Based primarily on the core European F&F range, Tesco will work closely with Al Hokair to build a range of clothing that is ideal for the local market.
