Fawaz Abdulaziz Alhokair & Co., commercially known as Sinomy Retail, announced the completion of all necessary regulatory procedures to officially change its legal name to AFG International. This move is part of a broader transformation strategy aimed at restructuring the company's identity and strengthening its market position.
In its announcement, the company clarified that it had received the updated commercial registration with the new name. However, it confirmed that its trading name on the Saudi Stock Exchange (Tadawul) will remain unchanged as “Synomy Retail” and its trading symbol (4240) for the time being. It noted that any future changes to the trading name are still under consideration, and any developments will be disclosed after obtaining the necessary regulatory approvals.
Historical background and strategic shift
Founded in 1990, Fawaz Abdulaziz Alhokair & Co. has grown to become one of the largest fashion franchise retailers in the Middle East, North Africa, and Central Asia. For decades, the Alhokair name has been synonymous with bringing renowned international brands to consumers in the region. In 2022, the company took a bold step by rebranding as Sinomy, unifying its retail (Sinomy Retail) and shopping mall (Sinomy Centers) operations under one umbrella to create a seamless customer experience. The recent change to AFG International as its legal name marks a new chapter in this transformation, with AFG likely standing for Alhokair Fashion Group, symbolically returning to its roots while maintaining a global outlook.
Importance and expected impact of the market
This change carries significant strategic implications both domestically and internationally. Domestically, it is seen as an attempt to separate the corporate identity of the holding company (AFG International) from its consumer-oriented brand (Synomy Retail). This separation could grant the company greater flexibility in managing its international investments and partnerships, and make its organizational structure more transparent to international investors and partners. Regionally and internationally, adding the word “International” to the official name underscores the company’s expansion ambitions beyond its traditional markets and reinforces its image as a global player in the retail sector. Investors and markets are expected to closely monitor the company’s next steps, particularly regarding its operational strategy and future plans under the new corporate identity.
