B&Q Exits Saudi Arabian Market, Shifts Focus to Other Regions
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Saudi Arabia: B&Q has closed its two franchise stores in Saudi Arabia as of early 2024, according to the company's final results from March 2024. This decision is part of a strategic shift to focus on wholesale and franchise agreements in other markets.
The Saudi stores, operated by the Al-Futtaim Group and opened in autumn 2021, had nearly 5,000 m² of retail space. The Al-Futtaim Group, a diversified conglomerate with over 200 brands in more than 20 countries, also operates Ikea stores and Ace Hardware outlets in the Middle East, along with Homeworks and Homezone furnishing stores in the region.
Source: DIY International