International brands hold 90% of market sales, says Red Sea Mall GM

Artin Malatjalian

International brands hold 90 percent of market sales, says a top management executive.
Artin Malatjalian, Red Sea Mall GM, assured the prominence of Saudi market in reference to retail trade among other competing markets in the region, being the favored target of international retail brands.
He added that international retail brands carry out precise research before investing in a country. It reviews the availability of mega shopping malls, obtainable investment opportunities in terms of location, retail expectations, number of visitors, and other competing brands.
Malatjalian added: "International brands are the key role player in reviving mega shopping malls, as it collaborates in promoting the mall to a percentage that reaches up to 90 percent, while 10 percent depends on the malls' activities. Attracting international retail names, especially the popular ones, has a direct upshot in raising the mall's unit marketing value, when it comes to leasing to retail.
He said: “25 percent to 30 percent of mall owners are interested in new and unknown brands, which are not available at other places to place their investment in a unique position in the market, on both business and national level. “At the end of every year, we carry out a conclusive statistical research for Red Sea Mall to review each brand’s opportunities and challenges, we review the spending process, annual visitors, and reassess suggestions and recommendation presented by brands dealers.”
For example, the mall's demographic type is now different than the ones of three years ago; it consisted of mainly our guests from Riyadh and Qassim, especially during Eid vacations.
The corner stone of Red Sea Mall's success is the continuous thrive for distinctiveness. The resilience of maintaining the balance of valuable merchandise and services, and targeting different age groups and nationalities by offering them a diverse options of endless choices.