Macy's Inc. has announced plans to open its first Bloomingdale's stores outside the United States, in Dubai in the United Arab Emirates.
The Cincinnati-based department store operator said Monday that it will open a Bloomingdale's apparel and accessories store and a separate home store at the Dubai Mall in February 2010.
The stores result from a relationship with diversified business company Al Tayer Group LLC in the Emirates.
Macy's Chief Executive Terry Lundgren says the retailer hopes to learn a lot about how its brands translate internationally.
"Dubai offers a unique opportunity for Bloomingdale's," Lundgren said in a statement. "It is a fast-growing, affluent marketplace that has emerged as an international destination for tourism, sporting events and business."
Merchandise will be similar to that of its upscale U.S. Bloomingdale's stores while sensitive to local preferences and customs.
Macy's shares lost $1.54, or 7.7 percent, to $18.42 Monday, amid broader market declines.
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