Basicxx plans 50 world-class stores across the Kingdom

Basicxx, the Gulf region’s major fashion, lifestyle and home ware retailer, has announced plans to open 50 world-class stores across the Kingdom at a cost of SR400 million.
The plan, which claims to revolutionize the retail market of the Kingdom, was unveiled by Mohammed Yusuf Al-Sagar, Basicxx chairman, during the inaugural ceremony of the first Basicxx big-box store in Riyadh.
Al-Sagar said in a statement: “The Kingdom’s retail sector has been witnessing sustained growth in the last few years, even outperforming the other major sectors by a significant margin. Against this backdrop, Basicxx has finalized ambitious plans to open new stores at strategic locations in a short period of time.”
He also pledged to hire more Saudi boys and girls, who will be deployed after training to man Basicxx fashion and house needs stores across the country.
After cutting the ribbon to mark the opening of the store, Mohammed Adil, CEO of Basicxx, said: "The Basicxx fashion chain is planning to open 10 more stores in Saudi Arabia before the holy month of Ramadan." He added that phase one of the Basicxx expansion plan will attract about SR100 million investment, while investment in phase two will exceed SR300 million. We want to target all Saudi consumers and residents."
The move to open new stores at such a fast pace is mainly aimed at grabbing a “leadership position” in the domestic retail market, said Adil, who is a topnotch business professional well-known in the Middle East and India. Adil, accompanied by guests and newsmen were conducted on a tour of the new store amid jostling crowds that rushed in to grab whatever they could at the promotional prices.
The opening of the first store at the upscale Riyadh Gallery on King Fahd Street witnessed the rolling out of the red carpet for industry leaders, top business executives and a large number of local newsmen. Mohammed Shahab, chief of the Basicxx operations in Saudi Arabia, Fahad Al-Musaed, administration manager, and Syed Irfan Ahmed, assistant marketing manager, were also present.
Adil said: "Basicxx is the first fashion store of its kind, which will source and display the latest fashion within 30 days of their launch in Europe, the United States or any other country of the world. He said more than 2,500 fashion items were currently on display at the store.
He pointed out that Basicxx is a one-stop shop for the whole family. "Its spacious ambiance, chic interiors and an astonishing range of options, all under one roof, make Basicxx an unforgettable experience for the whole family," added Adil. “Basicxx, which has two stores in Jeddah, have on offer the best and latest trends from the world over ‘off the catwalks, into your wardrobe,” Adil added.
Adil stated: “Basicxx designers travel all over the globe to scout the best fashions and home decor to achieve its unique vision of a stylish lifestyle. Basicxx was conceived to change the face of the retail market.” The build-up area of the new store exceeds 2,956 square meters.
The fashion and home needs retailer is manned by a young and energetic professional team across the Gulf, including the Kingdom. The concept Basicxx is owned by Al Yasra group, one of the leading business conglomerates based in Kuwait and operating in and around the GCC in several sectors, including food and fashion. Al Yasra has developed Basicxx as a shopping destination for “value-conscious” families and individuals.