RIYADH: Middle East eyewear retailer MAGRABi Retail Group is planning to open 36 new stores in 2024, expanding its footprint across the region and meeting increasing consumer demand for eyewear through its lifestyle brand, Doctor M. In an interview with Arab News, Souha Hasan, vice president of Mainstream Business at the company, noted that expansion plan is driven by the market potential and size of the targeted segment. Launched by the MAGRABi Retail Group in 2021 in Saudi Arabia, Doctor M now employs over 300 staff members across the Middle East region.
The company’s VP confirmed the firm is rolling out Doctor M stores across major cities in the Gulf Cooperation Council countries and Egypt, with the goal of having 300 outlets across the MENA region by 2030. Currently, the group has 65 Doctor M stores and are opening new branches every month. The goal is to increase the total number of stores to 80 by the end of 2024, with 50 of those stores located in Saudi Arabia.
In 2023, the group invested SR115 million ($30.66 million) in new store openings, refurbishments, and transformation projects, laying a foundation for future growth and scalability. “Our selection criteria for new stores are based on demographic insights and understanding the target customers of each location to ensure it aligns with Doctor M’s target personas,” Hasan said.
She continued: “We conduct a deep-dive analysis of each location from a real estate perspective, considering factors such as forma.
