• The TJX Companies, Inc. is the owner of TJ Maxx, Marshalls, HomeGoods, TK Maxx, Winners, Homesense and Sierra

Dubai, United Arab Emirates: Brands For Less (“BFL Group” or the “Group” or “BFL”), the region’s leading off-price retailer of fashion, homeware and toys, today announced a strategic agreement with global off-price retailer of apparel and home fashions The TJX Companies, Inc. (“TJX”), to sell a 35% stake in the business. The landmark transaction values BFL Group at an enterprise value of USD 1.2 billion.

The TJX Companies, Inc. (NYSE: TJX), a Fortune 100 company, is the leading off-price apparel and home fashions retailer in the U.S. and worldwide. BFL will benefit from strategic guidance as the Group looks to expand beyond the GCC. The experience that TJX brings, with its more than 5,000 stores in nine countries spread across three continents, will support BFL’s continued success.

Toufic Kreidieh, Executive Chairman and Co-Founder, Brands For Less Group, said: "Over the past 28 years, we have built the region’s leading off-price retailer of fashion, homeware and toys. We are thrilled and honored to have TJX as an investor and we thank TJX CEO and President Ernie Herrman and his leadership team for placing their trust in our business. This is an exciting opportunity for growth, and with TJX’s international expertise, we are well placed to successfully execute our strategy while supporting the development and rewarding the dedication of our employees.”

deNovo Partners acted as the sole financial advisor, and White & Case provided legal counsel to the BFL Group on the transaction.

About Brands For Less Group:

Brands for Less (BFL) Group is one of the leading off-price retailers of fashion and homeware in the Middle East. Based in the United Arab Emirates, it serves over seven markets across the Middle East. The BFL journey began with a unique off-price business model – ‘Brands for Less’ – in Lebanon in 1996. Four years later, in 2000, the Group established a new home in the UAE.

With over 100 stores, BFL Group serves its customers by delivering exceptional items at up to 80% off the original retail price for designer brands.

The Group continues to expand their product range in line with their customer-centric approach, ensuring store visitors enjoy a rich, all-in-one experience. BFL Group’s latest initiative has been to make Brands for Less more accessible to customers worldwide by expanding their e-commerce reach. For additional information about Brands For Less Group, please visit the BFL website at www.brandsforless.com/en-ae/about-us/.

Contacts
Brands For Less (BFL) Group
Email: corporate.communications@bflgroup.ae

Media/Investors: Kekst CNC:
Nahed Ashour +971 55 109 2547
Gregor Riemann +971 58 537 9925
Email: BFL@kekstcnc.com