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Iconic Stores, Including H&M, Will Shutdown Or Reduce Their Presence In Egypt

In a surprising turn of events, the Alshaya Group, a venerable Kuwaiti company founded in 1890 and a prominent operator of renowned retail brands in the Middle East, has declared the imminent shutdown of several beloved stores in Egypt. The announcement has sent shockwaves through the local community as iconic outlets prepare to bid farewell to their loyal patrons.

stores shutdown egypt

This list of 20 Local Egyptian Fashion Brands will come in handy for your next fashion emergency.

Among the casualties are cherished establishments like The Body Shop, Claire’s, Debenhams, Mothercare, and Pinkberry. Additionally, branches of American Eagle, Bath & Body Works, H&M, and Victoria’s Secret are slated for reduction. It is the end of an era for many fashion-conscious Egyptians.

The closures and branch reductions are scheduled to commence at the end of January. They will extend until the beginning of March, leaving little time for patrons to stock up on their favorite items. The impact of this decision is particularly poignant for fans of these brands, who have frequented these stores for years.

stores shutdown egypt

Debenhams, in particular, will see both its physical and online presence cease operations in Egypt by the end of February. Unfortunately, the move will also result in the unfortunate termination of employment for over 300 dedicated employees in the country.

stores shutdown egypt

The shutdown of beloved stores, in Egypt is a response to the nation’s economic challenges. Fueled by geopolitical tensions and declining revenue sources, a shortage of foreign currencies has led to a surge in the exchange rate. This drastic increase has significantly diminished the purchasing power of Egyptians, prompting these closures.