One of Poland’s leading cosmetics manufacturers, Inglot Global Cosmetics, has announced plans to open some 220 stores across the GCC region, with 100 in the UAE alone by 2020.
The GCC region currently accounts for 8 percent of Inglot’s sales volume worldwide, with 19 stores already established in the UAE. The company is planning to increase its presence in the Middle East incrementally, with 85 stores planned by the end of 2016, 120 during 2017 and 200-odd by 2020.
“We are seeing strong sales growth in our UAE stores and this looks set to continue. On a macro level the UAE is a very attractive market for expansion, it is a highly stable political and economic environment with high growth potential. This is thanks to the sustained investment in the country and its continued appeal as a tourist and shopping destination,” commented Mr Inglot, Chairman of Inglot Global Cosmetics.
The UAE and GCC plans form part of Inglot’s wider growth plans to triple its number of stores worldwide by 2020. The company currently operates 530 outlets around the globe, with further stores planned for Europe, Australia, the US and South America.