• Women’s Wear Daily, Monday, March 10, 2008 11:45 AM

A source in the Middle East says a group from Dubai may be close to a deal to operate Bloomingdale's in the region and is seeking space in the epic Dubai Mall. The mall is under construction for a late 2008 or 2009 opening, and is planned to be the largest in the world. The same source says Bloomingdale's also is eyeing Kuwait.

The surging price of oil has turned the Middle East into a major market for designer and luxury brands. The Dubai Mall will encompass about 10 million gross square feet, including 3.8 million for retail, and the world's tallest building--the Burj Dubai, with more than 200 floors and an Armani Hotel at its base.

Bloomingdale's and Saks are among the few upscale department stores that are internationally recognized and transportable, largely because of their dominant flagship presence in Manhattan and other key stores in portal cities such as Miami, San Francisco and Los Angeles. Michael Gould, chairman and CEO of Bloomingdale's, says the company does not speculate on rumors.

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