The Saudi Fashion Commission has signed a Memorandum of Understanding (MoU) with Fawaz A. Alhokair and Partners Company, the leading franchise retailer in Saudi Arabia, to support Saudi fashion designers.
The agreement was signed at the Ministry of Culture headquarters in the presence of Mr. Burak Cakmak, CEO of the Fashion Commission, and Mr. Ahmed Al-Sultan, legal representative of Fawaz Alhokair and Partners Company.
Under the agreement, Saudi fashion designers will benefit from the support of commercial platforms managed by Fawaz A. Alhokair and Partners Company. The two parties will also collaborate on sustainability programs and projects in the fashion sector, with implementation supervised by specialized teams in both parties.
“We are pleased to work with the Fashion Commission to support and empower Saudi Arabia’s local fashion designers. We are confident that by diversifying the market, we are strengthening the local ecosystem and showcasing what the Kingdom has to offer as Alhokair continues to be the leading lifestyle retailer in the country and the partner of choice for local and international brands. This strategic partnership reinforces our commitment to building an agile and sustainable business, contributing to economic growth and talent development supporting Saudi Arabia’s Vision 2030.”
Mr. Cakmak emphasized the importance of strengthening cooperation between the Commission and Alhokair as a valuable partner in the support and development of the fashion community.
The unique position of Fawaz A. Alhokair and Partners Company as the only fashion company listed on the Saudi stock market, underlines the significance of joining forces with firmly rooted establishments to support local innovators and develop the fashion sector as a contributor to Saudi economic growth, added Mr. Cakmak.
The Fashion Commission had recently signed several MoUs and cooperative agreements with parties in both the public and private sectors, bolstering its objective to enhance local partnerships, empower the Saudi fashion sector and develop its capabilities to meet world-class standards of practice in the field.