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Gucci in UAE Deal With Al Tayer Insignia
MILAN
As part of a strategy to directly control its stores, Gucci said Monday it has signed a memorandum of understanding to form a joint venture with luxury retailer Al Tayer Insignia.
The agreement, which is expected to be finalized over the next few months, will allow Gucci to directly enter the United Arab Emirates. Gucci declined to provide details of the partnership, but said the joint venture will be headquartered in Dubai. Al Tayer has been Gucci's franchisee in the region for more than a decade.
The luxury brand currently counts six points of sale in the UAE. One store is located in Abu Dhabi, at Marina Mall, and...