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10/28/2014

Macy's to Open First International Store in Abu Dhabi

Macy's, Inc. plans to open Macy's and Bloomingdale's stores in Abu Dhabi, United Arab Emirates (UAE) in 2018 as part of a strategic partnership with Al Tayer Group LLC. This will be Macy's first international store location and the second for Bloomingdale's.

The Macy's and Bloomingdale's stores will anchor Al Maryah Central, a new super-regional shopping destination on Al Maryah Island being developed by Gulf Related, a joint venture between Related Companies and Gulf Capital. The 3.1-million-square-foot mixed-use development will include retail, cafÉs and restaurants, extensive entertainment options, a cinema, health club, luxury hotel and residential towers.

The Macy's (205,000 square feet on four levels) and Bloomingdale's (230,000 square feet on four levels) stores will offer a merchandise assortment, ambience and customer service similar to each brand's shopping experience in the United States, while also being sensitive to local preferences and customers. The stores will be operated by Al Tayer Group under license agreements with Macy's, Inc. Al Tayer Group also opened and operates the highly successful Bloomingdale's which opened in Dubai in 2010.

"As a spectacular new world-class shopping destination, Al Maryah Central provides an outstanding opportunity to introduce Macy's to customers who live and work in the booming UAE market, as well as to visitors who come from around the world for events, business and holidays," said Terry Lundgren, Macy's, Inc. chairman and chief executive officer. "Macy's and Bloomingdale's already are well known globally. They are destinations for international tourists to the United States and play an important role in popular culture domestically and globally.

"We are continuing to study various international markets and to better understand how customers worldwide shop in stores, online and via mobile. While macys.com and bloomingdales.com have been selling online in about 100 nations since 2011, we are especially interested in the omnichannel dynamics of worldwide markets, and the role that physical stores play in that equation. While we continue to evaluate store development opportunities around the world, we are committing now to take advantage of this unique opportunity in Abu Dhabi with two partners who we know very well, Al Tayer Group and Gulf Related, with the development of Al Maryah Central," Lundgren said.

"Bloomingdale's has been a standout success in Dubai, and we look forward to expanding our business into Abu Dhabi," said Tony Spring, chairman and CEO of Bloomingdale's. "Customers in the UAE have come to recognize Bloomingdale's for the high quality of designers and luxury goods we sell in an attentive high-service environment. We take great pride in making Bloomingdale's like no other store in the world. Al Tayer Group has been a tremendous partner that shares Bloomingdale's high standards."

"We are delighted to extend our successful partnership with Macy's Inc., with the launch of Macy's and Bloomingdale's in Abu Dhabi. Having recorded almost five successful years with Bloomingdale's–Dubai, we are confident that the offering from Macy's will have an equally strong appeal in the Middle East region. Both Macy's and Bloomingdale's have entrenched themselves as market leaders in department store retailing in the U.S., and we look forward to delivering the same unrivalled shopping experience to customers in Abu Dhabi," said Khalid Al Tayer, CEO - Retail, Al Tayer Group.