Home Box

Home Box, a furniture and homeware chain, was founded in 2013 in the UAE by Landmark Group, one of the largest retail and hospitality conglomerates in the Middle East, Africa and India. According to information on the company's website, by May 2023, the Home Box chain includes 42 stores in seven countries, including 18 in Saudi Arabia, six in the UAE, two in Bahrain.

History

2023: Entering the Russian market

Home Box, a chain of furniture and home goods stores, enters the Russian market. This became known on May 18, 2023.

According to Kamel Shaban, vice president of the Union of Shopping Centers of the Middle East, the first store will open in Moscow during 2023. In total, the company plans to open up to 20 stores in the next five years. For business development, Home Box is considering Russian cities with a population of one million.

Investments in the opening of one store will range from $2.5 million. It is planned to supply goods at first from factories in China and Asian countries, in the future it is possible to build factories in Russia, Shaban said. Prices at Home Box stores would be about the same as IKEA, he said.

Home Box chain of stores enters the Russian market

For Home Box, this is the company's first international experience, which may affect the success of the project, said Mikhail Burmistrov, CEO of Infoline-Analytics. Unlike the so-called Belarusian analogues (earlier in 2022, the Belarusian retailer Swed House entered the Russian market), here we can talk about a much more advanced and strong player, quite interesting in terms of some design solutions, the expert believes.

Marina Malakhatko, head of the retail department at CORE.XP, suggested that Home Box will retain the format presented in the Arab market, and most likely we will talk about a partner scheme.^[1]

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