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Brands for Less denies stake sale speculation

By Gavin Gibbon
Brands For Less denies stake sale speculation BFL Group
Brands For Less expanded from Beirut to the UAE in 2000. It now has 85 stores in 6 countries as well as an online business
  • Discount retail chain was started in Beirut
  • BFL Group now has 85 stores in 6 countries and online business

UAE retail group Brands for Less (BFL Group) has denied reports that it plans to sell a minority stake in the business.

A statement on Thursday said: “While the company, on an ongoing basis, reviews its options to further enhance growth, customer reach and customer service, there are no current plans for a sale of shares in the company to third parties or through an initial public offering (IPO) to investors.”

Founded by Lebanese entrepreneurs Toufic Kreidieh and Yasser Beydoun, Brands For Less opened its first store in Beirut in 1996 and four years later expanded the business to the UAE and moved its headquarters to Dubai.

The group has several lines including Brands for Less fashion stores, in addition to Toys For Less, Homes For Less, and Luxury For Less. It sells branded products at discounted prices.

BFL Group also has an online retail presence and operates 85 stores in six countries, according to its website.

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