The Clap
Al Saif Gallery (4192) has begun expansion into Kuwait, renting out two stores.
What
The first branch is expected to be up and running during Q1 of 2023, with the second expected to follow in the following quarter.
So What
The expansion represents a serious step in the company’s expansion strategy into the Gulf region.
The company is already opening its first branch in Abu Dhabi in January, its first branch outside of KSA.
Now What
The financial impact from the opening of the first Kuwaiti branch and the Abu Dhabi branch is expected to be reflected in Q1 2023’s financial results, while the second Kuwaiti branch’s impact is expected to be reflected in Q2 2023’s financial results.
