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Alsulaiman Group (ASG), the Ikea franchisee for Saudi Arabia, is set to open 21 new Ikea branches, bringing the total number of outlets here to 30 from nine today, ASG CEO Saud Alsulaiman told Argaam. The new stores will be located in major cities including Madinah, Makkah, Al-Qassim, Jazan, and Tabuk. Alsulaiman provided no further information on the pace or timing of the buildout and didn’t discuss the cost of the investment.
ASG is also planning to triple the size of its subsidiary logistics company Flow in the next five years with a view to expanding to other GCC states. Flow currently operates 13 warehouses and 300 delivery vehicles. ASG set up the unit in 2014 to support IKEA Saudi’s need for a dedicated supply chain and has since expanded to the UAE and Bahrain.
Circle K: The investment company is also the franchisee of convenience store chain Circle K and operates outlets in 40 gas stations, hospitals and libraries. ASG sees the brand expanding after contracting new gas stations including ADNOC and Petromin.
Alsulaiman also added that ASG is seeking to expand the footprint of Ehteraf, its real estate development services unit, to Abha, Makkah, and Al-Qassim. Ehteraf is currently operating in Riyadh and Madinah.
