In a landmark deal that underscores the growing influence of Lebanese-led businesses on the global stage, Brands For Less (BFL Group), a prominent off-price retailer in the Middle East, has sold a 35% stake to The TJX Companies, Inc. for a staggering $360 million.
This strategic partnership, which values BFL Group at an impressive $1.2 billion, marks a significant milestone in the company’s journey as it sets its sights on expanding beyond the GCC region.
Founded by Lebanese entrepreneurs Toufic Kreidieh and Yasser Beydoun, BFL Group has become a household name in the Middle East, offering a diverse range of fashion, homeware, and toys at unbeatable prices. Over the past 28 years, BFL has grown into the region’s leading off-price retailer, with a loyal customer base that appreciates quality products at discounted rates.
The recent investment by TJX Companies, the world’s largest off-price retailer, is set to propel BFL to new heights. Known globally for its brands such as TJ Maxx, Marshalls, HomeSense, Winners, HomeGoods, and TK Maxx, TJX brings a wealth of experience and strategic expertise to the table.
This partnership is expected to significantly boost BFL’s expansion efforts, particularly as it looks to break into new markets across Southeast Asia.
Commenting on the deal, Toufic Kreidieh, executive chairman and co-founder of BFL Group, expressed his excitement about the future. “Over the past 28 years, we have built the region’s leading off-price retailer. We are thrilled to have TJX as an investor, and we thank CEO and president Ernie Herrman and his leadership team for placing their trust in our business. With TJX’s international expertise, we are well-positioned to execute our strategy and support the development of our dedicated employees.”
With more than 5,000 stores across nine countries and three continents, TJX’s involvement is expected to significantly bolster BFL’s growth trajectory. The partnership will allow BFL to leverage TJX’s vast network and operational expertise, ensuring a smoother and more effective expansion into new territories.
This $360 million investment is more than just a financial boost—it’s a testament to the potential of Lebanese entrepreneurship and a sign of the exciting developments yet to come from Brands For Less.
