Luxury retailer Harvey Nichols is planning to open a new store in the State of Qatar, Doha, in partnership with Harvey Nichols Doha, a company affiliated to the Qatari business group Saleh Al Hamad Al Mana.
The new 80,000sqm store is slated to open in the first quarter of 2017 and will offer an exclusive edit of beauty products, alongside fashion, childreswear, homeware and a range of hospitality services. It will be located in Doha Festival City, an upscale shopping, leisure and entertainment destination.
Saleh Al Hamad Al Mana Group of Companies has signed an exclusive licence agreement for the development of the new store. Al Mana Luxury, an affiliate of the same group, already operates boutiques for Hermès, Chloé, Giorgio Armani and Stella McCartney.
Hisham S Al Mana, Chairman and Managing Director at Saleh Al Mana, added: “Harvey Nichols will add a great shopping and dining experience to Qataris and expats alike in Qatar. We truly believe in the growth of our beloved country; Qatar is paving the way to becoming the centre of attraction in the Gulf region. Partnering with prestigious brands such as Harvey Nichols is a key factor of success as offering luxury retail products addresses our consumer needs.”
By opening in Qatar, Harvey Nichols is tapping a market that has one of the highest levels of disposable income. The gross domestic product per capita in Qatar is the highest globally at $100,000/capita, according to CIA World Fact Book. Meanwhile, a Ledbury Research Report said Qatar is also forecast to be one of the world's fastest growing luxury markets; Qataris are also thought to be the biggest buyers of luxury goods in the Middle East, according to The American Express Middle East Luxury spending tracker.
Stacey Cartwright, Group Chief Executive of Harvey Nichols, said: “Doha is an exciting market for Harvey Nichols due to the significant growth we are seeing in the country. Research tells us that our brand translates well in Qatar as well as with the Qatari customers when they shop in our home market. We look forward to offering Qataris the best shopping and dining experience, when we open our doors for business.”
