Paris Gallery, the leading luxury retailer, in a joint press conference with the AlHandal International Group, announced that Paris Gallery is opening 5 franchise stores in Iraq.
The announcement was followed by the signing of a franchise agreement between Mr. Mohamed A. R. Al Fahim, the CEO of Paris Gallery, and Mr. Mohammed Al Handal, the CEO of Al Handal International Group, with the presence of General Consul General of Iraq, H.E. Mr. Ismat Akid Siddiq.
H.E. Mr. Ismat Akid commented on this agreement "We are very pleased with having luxury name as Paris Gallery in Iraq, we consider this as a positive sign for Iraq economy."
Mr. Mohamed A. R. Al Fahim said "We have been looking forward to this day, and the time is right. In the past we have had several companies who wanted to open Paris Gallery stores in Iraq, but the conditions were not favorable for us to do so. After much deliberation and research we have now partnered with the Al Handal Group, a successful company, who shares the same business philosophy with us."
The CEO of Al Handal International Group, Mr. Mohammed Al Handal, said, "We are so honored and delighted to win the franchise for Paris Gallery in Iraq. We have been looking forward to having the contracts signed and we are eager to go forward with the setting up of the first store in Baghdad. We have very high expectations. Paris Gallery has a solid reputation and a great organization. Their experience in the luxury segment spans more than 4 decades. We are sure to benefit from their experience and expertise. We are excited as we believe that Paris Gallery will bring something special and unique that our Iraqi market needs."
Paris Gallery is also expanding into countries like Azerbaijan and Oman, as well as being in negotiations with potential clients in other countries.
The Al Handal International Group is set to open five stores in the next three years with two stores in Baghdad, two in Erbil and one in Basra.