Fawaz Abdul Aziz Al Hokair & Co. announced that it has acquired the commercial franchise rights from the French company Licathlon, which specializes in providing sports goods and equipment.
Al-Hokair said in a statement to the Saudi market (Tadawul), today, Monday, that the Decathlon brand represents the first in the group of brands that the company aims to obtain.
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and pointed out that this agreement reflects the company's commitment to increase its network of stores and ensure the growth of its business in the long term.
She also pointed out that it is expected to launch the first store for the Decathlon brand in the Kingdom of Saudi Arabia at Mall of Arabia in Jeddah during the first half of 2021, and that it plans to expand the network of Decathlon stores. For more than 30 stores.
Al-Hokair noted that the French company, Likathon, has more than 40 brands and nearly 1600 branches in 60 countries around the world.
and the company clarified that the contract period is 10 years from the opening of the first store for this brand.
and she said that this agreement will have a positive impact on the company as it will contribute significantly to support the company's revenues.
It also confirmed that it will announce any material developments related to the agreement in a timely manner.
