Head Office ( KUWAIT)
Al Bustan Complex - 1st Floor, Salim Al Mubarak St.
P.O Box: 22733 - Safat 13088 Kuwait
Tel: +965 25740021
Fax: +965 25740024
Office 2510, Level 25, The H Dubai office Tower
1 Sheikh Zayed Road - Dubai, United Arab Emirates
Tel: + 971 43050 761
Azarieh Building, Block 03, 5th floor
Tel: +961 1 964529
Fax: +961 1 964501
ASCEND retail “ regionally Al Mutawa Al Khatib Co.” was established in 2007 during the retail boom, with a vision of being the leading luxury retailer in the region by operating premium retail brands to the highest industry standards. The company’s first store opened its doors in May 2008, since then the company established a total of 8 fashion retail stores. Five of the company’s brands are in The Avenues Mall, 2 brands in 360 Degrees mall and one existing retail locations in Al Hamra Mall, with 3 more locations signed and scheduled to open by the second quarter of 2014.
The company faced challenges during the first 24 months of operation primarily due to the financial crisis of 2008-2009, opening in phase 2 of The Avenues Mall (which struggled to pull traffic for the first 18 months of opening), and for operating non-competitive brands within the company’s start-up brand portfolio.
The company’s partners and management was able to turn the company around by making changes in the company’s brand portfolio by closing non-performing brands, and re-opening in their place stronger premium brands, and by taking on two new stores in 360 Degrees mall which has proven to be successful in the premium segment of shoppers. Moreover, the company opened a shop in Al-Hamra Mall with one of its best performing brands (Ted Baker London). Following the positive performance of the shop, the company acquired the franchise rights for two first line brands (La Silla & Maison Martin Margiella) and plans to open both brands in the ground floor of Al-Hamra mall within the first quarter of 2014. The company also signed by the end of 2013 a prominent mid end ladies brand called Luisa Spagnoli which is also scheduled to open its first branch in Al-Hamra Luxury Centre.
The company is consciously improving in sales, recruiting highly qualified personal, and training such personal, while also showing a positive net profit. This puts the company in a position to grow by taking on new locations for existing and/or for new brands.
Furthermore, the company has expanded in Lebanon by opening a mono-brand store for Ted Baker in Beirut City Centre mall, and two corners in ABC Department stores in Ashrafiya & Dbayah. The company plans to continue in its expansion plan outside of Kuwait by entering the U.A.E and Azerbaijan markets.