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Marka signs first deal with Cristiano Ronaldo’s CR7 Footwear

Oct 15, 2014 Persian Gulf
Marka signs first deal with Cristiano Ronaldo’s CR7 Footwear
The retail company has been named the exclusive franchise operator for Persian Gulf’s countries for CR7 Footwear products and the agreement should result in the opening of 11 stores

Cristiano Ronaldo just added another conquer to its new venture in footwear. Marka, a company specializing in retail at the UAE, announced they will hold the brand franchise in exclusivity for CR7 Footwear within the six Persian Gulf states: Saudi Arabia, Bahrain, United Arab Emirates, Kuwait, Oman and Qatar.

The first CR7 Footwear store is planned to open its doors in February 2015, simultaneously with the brand’s global launch. Marka will focus on an aggressive expansion strategy that will see the opening of 11 monobrand stores across the region within the next seven years. This presence will be further solidified with additional shop-in-shop locations planned in premium department stores.

Local press is quoting Marka’s management to illustrate the excitement about the new deal. Nick Peel, Chief Executive Officer of Marka stated: “We are delighted to unveil CR7 Footwear as the first major brand in Marka’s retail portfolio. This deal will further add momentum to our business over the coming years. It is also indicative of the multifaceted strategy we have put in place to deliver greater value to our shareholders.”

Khaled Almheiri, Vice Chairman of Marka also commented on the deal: “Marka was launched with a vision to be the leader in the affordable luxury retail category. Our exclusive partnership with a brand of this stature is testament to our vision and demonstrates our ambitious growth strategy and international ambitions. CR7 Footwear will be the first of many brands we plan on rolling out in the region; we are confident that they will all resonate with the discerning GCC clientele.”

Note - GCC stands for Gulf Cooperation Council