Fawaz Alhokair signs franchise agreements with Alo Yoga, Flying Tiger Copenhagen

Logo of Fawaz Abdulaziz Alhokair Co.

Fawaz Abdulaziz Alhokair Co. signed two new franchise agreements with Alo Yoga and Flying Tiger Copenhagen, the company said in a bourse statement today, May 24, 2021.

The agreements support Alhokair’s strategy to transform into a lifestyle destination by diversifying and expanding its retail portfolio into new categories, such as athleisure and variety stores.

Alo Yoga is a US-based yoga and athleisure brand, offering a vibrant collection of high-quality yoga clothing and accessories. The franchise agreement with Alhokair is Alo Yoga’s first outside the United States, with its debut mall outlet set to open in Kingdom Centre, Riyadh.

Alo Yoga was recently named in Fast Company’s list of Most Innovative Brands.

Flying Tiger Copenhagen is a Danish variety retailer, with 900 stores in 27 countries.

Flying Tiger Copenhagen is known for fun utilitarian products and DIY craft concepts offered at value-for-money price points, created to award-winning Danish design standards, and ranging from toys and accessories to stationery and gadgets.

The agreement with Alhokair is the first franchise for Flying Tiger Copenhagen in the Middle East.

Starting in 2022, Alhokair and Flying Tiger plan to open 45 stores in five years in Saudi Arabia, with nine outlets and an online store operational in the first year. The company expects that Flying Tiger Copenhagen’s wide range of affordable products will resonate well with young Saudi consumers, bolstering its diversification efforts.