Retailers seek right formula to expand in local market

Having a casual stroll through the hallways of any shopping mall in Egypt, it is expected to notice the changing number of stores declaring they are currently out of business as well as those promising the anticipating shoppers new tags of luxury.

Throughout the past year, few of those considered to be successful brands retracted their business from Egypt. However, with a new year unfolding, an equally new wave of brands are starting to announce their upcoming first encounter with the local market.

While price tags have noticeably increased during the past couple of months, sale offers are becoming legitimate reasons for commotion. The fashion industry was hit by the devaluation grenade earlier last year. Meanwhile, international retailers had an additional set of obstacles, namely the new customs and registration regulations.