Brands For Less sells 35% stake to TJX Companies for $1.2b

TJX will provide BFL with strategic guidance for expansion into the Persian Gulf, Malaysia, and Singapore.

UAE’s Brands For Less has sold a 35% stake to The TJX Companies, Inc. in a deal valuing the company at $1.2b.

With more than 5,000 stores across nine countries on three continents, TJX brings significant experience and strategic guidance to BFL as it seeks to expand its footprint in the Persian Gulf, Malaysia, Singapore, and beyond.

"Over the past 28 years, we have built the region’s leading off-price retailer of fashion, homeware and toys,” said 
Toufic Kreidieh, executive chairman and co-founder of BFL Group.

“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,” he added.