US retail behemoth eyes Dubai

   Date:2008/09/23     Source:

MACY'S Inc, the second-biggest United States department store company, plans to open Bloomingdale's stores in Dubai, the chain's first outlets outside the US.

The retailer will open two outlets by 2010 in partnership with the Al Tayer Group LLC, a Dubai-based retail investment company that represents Harvey Nichols and Gucci in the United Arab Emirates, Macy's said yesterday in a Business Wire statement, Bloomberg News reported.

The stores will both be located in the Dubai Mall, which is scheduled for completion later this year, the statement said.

"Dubai offers a unique opportunity for Bloomingdale's," Macy's Chief Executive Officer Terry J. Lundgren said in the statement.

"It is a fast-growing, affluent marketplace."

Lundgren said he expected the new stores to attract customers living in the region as well as tourists and business travelers.

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