Gymboree Inks Franchise Deal In Middle East

Friday, March 12, 2010

Children's clothing seller Gymboree Corp. signed a deal to put franchises in the Middle East.

Stores in Dubai are supposed to open later this year.

San Francisco-based Gymboree (NASDAQ: GYMB) inked this deal with Azadea G Group Ltd.

Said Daher is CEO of Beirut-based Azadea Group Holding SAL, which owns Azadea G Group. The group operates 350 stores in the United Arab Emirates, Saudi Arabia, Egypt, Kuwait, Iraq, Qatar, Oman, Bahrain, Jordan, Lebanon and Romania.

Gymboree, led by CEO Matthew McCauley, has 960 retail stores as well as 655 "play and music" centers where babies and toddlers play in padded rooms and on soft equipment.

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Phone: (415)278-7000
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