DUBAI: Fawaz Abdulaziz Alhokair Co. (Alhokair) has signed a franchise agreement with European electronic and entertainment retailer Fnac Darty, with the first store to open in 2022.
The Saudi retail giant also plans to expand its network of Aleph Apple premium reseller and Decathlon sporting goods stores, it said in a stock exchange filing on Tuesday.
The first Fnac Darty in the Kingdom will feature multi-brand consumer electronics, household appliances, books, and other lifestyle products, according to a statement.
“The European retailer’s strategic focus on building a strong customer base with evolving experiences around electronics, multimedia and lifestyle categories, is a major milestone in Alhokair’s journey to become the lifestyle retail partner of choice in Saudi Arabia,” said Alhokair CEO Marwan Moukarzel.
Fnac Darty operates 908 stores, including 346 franchises globally. It reported international revenues of over $8.9 billion in 2020, 31 percent of which came from online sales.
Alhokair said the deal comes as demand for electronics, such as tablets and laptops, have surged in the Kingdom during the COVID-19 pandemic, where employers and schools have offered more flexible setups for workers and students.
Alhokair operates more than 1,800 retail stores across 12 countries, with a portfolio of more than 90 international and local brands in fashion, beauty, sports, multimedia, and food and beverage.
The company said it also plans to roll out new Aleph Apple Premium Reseller stores with one new location added in U-Walk Riyadh on April 18 2021 and three others slated to open by the end of May 2021.
The total number of Aleph stores is expected to reach 20 over the course of the next 18 months, it said.
The company also opened the global sports and leisure brand, Decathlon’s first-ever Saudi store in Jeddah on April 10 2021. It will be followed by three more stores to be opened in 2021 in Riyadh.
Alhokair adds Fnac Darty, Apple reseller and Decathlon stores across Saudi Arabia
https://arab.news/wkdgc
Alhokair adds Fnac Darty, Apple reseller and Decathlon stores across Saudi Arabia
- The first Fnac Darty in the Kingdom will feature multi-brand consumer electronics, household appliances, books, and other lifestyle products
- The Saudi retail giant also plans to expand its network of Aleph Apple premium reseller and Decathlon sporting goods stores
First EU–Saudi roundtable on critical raw materials reflects shared policy commitment
RIYADH: The EU–Saudi Arabia Business and Investment Dialogue on Advancing Critical Raw Materials Value Chains, held in Riyadh as part of the Future Minerals Forum, brought together senior policymakers, industry leaders, and investors to advance strategic cooperation across critical raw materials value chains.
Organized under a Team Europe approach by the EU–GCC Cooperation on Green Transition Project, in coordination with the EU Delegation to Saudi Arabia, the European Chamber of Commerce in the Kingdom and in close cooperation with FMF, the dialogue provided a high-level platform to explore European actions under the EU Critical Raw Materials Act and ResourceEU alongside the Kingdom’s aspirations for minerals, industrial, and investment priorities.
This is in line with Saudi Vision 2030 and broader regional ambitions across the GCC, MENA, and Africa.
ResourceEU is the EU’s new strategic action plan, launched in late 2025, to secure a reliable supply of critical raw materials like lithium, rare earths, and cobalt, reducing dependency on single suppliers, such as China, by boosting domestic extraction, processing, recycling, stockpiling, and strategic partnerships with resource-rich nations.
The first ever EU–Saudi roundtable on critical raw materials was opened by the bloc’s Ambassador to the Kingdom, Christophe Farnaud, together with Saudi Deputy Minister for Mining Development Turki Al-Babtain, turning policy alignment into concrete cooperation.
Farnaud underlined the central role of international cooperation in the implementation of the EU’s critical raw materials policy framework.
“As the European Union advances the implementation of its Critical Raw Materials policy, international cooperation is indispensable to building secure, diversified, and sustainable value chains. Saudi Arabia is a key partner in this effort. This dialogue reflects our shared commitment to translate policy alignment into concrete business and investment cooperation that supports the green and digital transitions,” said the ambassador.
Discussions focused on strengthening resilient, diversified, and responsible CRM supply chains that are essential to the green and digital transitions.
Participants explored concrete opportunities for EU–Saudi cooperation across the full value chain, including exploration, mining, and processing and refining, as well as recycling, downstream manufacturing, and the mobilization of private investment and sustainable finance, underpinned by high environmental, social, and governance standards.
From the Saudi side, the dialogue was framed as a key contribution to the Kingdom’s industrial transformation and long-term economic diversification agenda under Vision 2030, with a strong focus on responsible resource development and global market integration.
“Developing globally competitive mineral hubs and sustainable value chains is a central pillar of Saudi Vision 2030 and the Kingdom’s industrial transformation. Our engagement with the European Union through this dialogue to strengthen upstream and downstream integration, attract high-quality investment, and advance responsible mining and processing. Enhanced cooperation with the EU, capitalizing on the demand dynamics of the EU Critical Raw Materials Act, will be key to delivering long-term value for both sides,” said Al-Babtain.
Valere Moutarlier, deputy director-general for European industry decarbonization, and directorate-general for the internal market, industry, entrepreneurship and SMEs at European Commission, said the EU Critical Raw Materials Act and ResourceEU provided a clear framework to strengthen Europe’s resilience while deepening its cooperation with international partners.
“Cooperation with Saudi Arabia is essential to advancing secure, sustainable, and diversified critical raw materials value chains. Dialogues such as this play a key role in translating policy ambitions into concrete industrial and investment cooperation,” she added.
