Health products retailer Holland & Barrett is planning to expand is international franchise portfolio further in the coming months after adding Cyprus to the list of countries it operates in.
The expansion to the Mediterranean island has been achieved through a partnership with C.A.Papaellinas Group, which currently runs the AlphaMega Hypermarkets and Beauty Line retail stores as well as being a major distributor of global brands in Cyprus.
Holland & Barrett already has stores in South Africa, Malta, Singapore and the United Arab Emirates too and this list looks certain to grow as - like many retailers - the company seeks to enter new markets across the world.
CEO of Holland & Barrett Peter Aldis commented: “Cyprus is another welcome addition to our international franchising portfolio.
“We are excited with the possibilities of expansion within the market.
“Our plan is to start franchising in a number of other countries.”
The company is not the only UK-based retailer looking to broaden its international horizons at present, with many businesses eyeing international success as a way of boosting sales revenue.
Maternity and baby product retailer Mothercare has reported strong sales outside the UK in the last 12 months, while online fashion house Asos.com has recently rolled out its service to the US, German and French markets.
High street mainstay Marks & Spencer (M&S) also recently announced that it was looking to further expand its operations overseas.
M&S currently boasts 337 stores in 41 territories outside the UK, but CEO Marc Bolland announced last month that it wants to open specialist websites in targeted countries and achieve international sales of between £800 million and £1 billon in the next three years.