aswaaq has announced an exclusive partnership with French corporation Monoprix SA to bring international products to aswaaq centres throughout Dubai. Through the partnership, The Monoprix Group—which is a group of companies owned by Monoprix SA—will work with aswaaq in the distribution of textiles, food retail, and home/leisure products.
The first shipment of goods to Dubai has already been made, and the first phase of the partnership will see 500 new products featured in aswaaq stores. A variety of products have been chosen in order to appeal to customers of all nationalities and age groups.
Commenting on the partnership, Mr. Abdul Basset Al Janahi, CEO of aswaaq said: “This partnership will help us strengthen our reputation as the premier shopping and retail outlet in Dubai. By building international supply chains, we can cater to the needs of the entire population by bringing the best international products to the people of Dubai. We are looking forward to strengthening our partnership with Monoprix in the upcoming years as we look beyond product distribution to actual retail management.”
The supply agreement will allow aswaaq to introduce an exclusive range of new products to the Dubai marketplace. The choice of products is in direct response to aswaaq customer research which highlighted a number of ‘specialty items’ that customers would like to see offered in the UAE. These items include everything from fresh Italian cheeses to chocolate mousse airlifted in from France. The supply agreement shall be entered into for a term of one year, automatically renewable for successive periods of one year unless otherwise agreed.
The two companies may also enter into a franchise agreement sometime in the near future, although this second ‘phase’ has yet to be confirmed. Such an agreement would give aswaaq access to the signs and know-how of Monoprix in developing store concepts and management.
The Monoprix Group currently has a range of more than 100,000 products with capital estimated at around € 61 million. It is a major French supermarket chain and is a subsidiary of the Casino Group. Monoprix has 300 stores, employs around 18,000 people in France, and is present in approximately 85% of all French cities with a population of more than 50,000 residents.
