Brands For Less Sells 35% Stake to TJX Companies for $360 Million

Brands For Less (BFL) Group, a prominent off-price retailer based in the UAE, has announced the sale of a 35 percent stake in its business to The TJX Companies, a global leader in value retail, for $360 million. The deal values BFL at $1.2 billion, positioning the company for significant growth as it looks to capitalize on TJX's extensive international experience and market presence.

BFL, which specializes in offering discounted branded fashion, homeware, and toys, serves more than seven markets across the Middle East and Southeast Asia. With this strategic partnership, BFL aims to enhance its market execution and further reward its dedicated employees, according to Executive Chairman and co-founder Toufic Kreidieh.

Legal counsel for the transaction was provided by White & Case, while deNovo Partners acted as the sole financial adviser to BFL. This move comes as the off-price retail sector continues to thrive globally, driven by consumers' increasing preference for discounted branded merchandise. The market, valued at $342.62 billion in 2023, is expected to reach nearly $606.49 billion by 2031, reflecting a compound annual growth rate of about 8.5 percent.

Founded in 1996 in Lebanon, BFL has grown substantially, establishing its headquarters in the UAE in 2000 and expanding to over 100 stores. The group also holds exclusive rights to the Tchibo franchise in the Middle East and North Africa, further solidifying its position in the region.

The TJX Companies, based in Massachusetts, operates more than 4,900 stores across the US, Canada, Europe, and Australia, making this partnership a significant milestone for BFL's future growth and expansion plans.