Toufic Kreidieh

Toufic Kreidieh^[1][2] is a Lebanese businessman who is the co-founding partner and executive chairman of the Brands for Less (BFL) Group, a leading off-price retailer founded in 1996.^[3][4][5][6]

Toufic Kreidieh opened the first Brands For Less store in 1996 in Lebanon.^[7][8][9] In the year 2000, BFL Group established established its first corporate headquarters in the United Arab Emirates.^{[10][11][12][13][14]}

Toufic Kreidieh’s experiences during Lebanon’s civil unrest influenced his entrepreneurial and business approach. In 1993, he completed a degree in Bachelor of Science (B.Sc) in Business Management at the Lebanese American University(LAU), Lebanon. In 2025, LAU honored Toufic Kreidieh with the Honorary Doctorate of Humane Letters.^[15][16]

Toufic Kreidieh founded the BFL group in 1996 along with his partner Yasser Beydoun.^{[17][18][10][11]} In 2000, they relocated the headquarters to Dubai, United Arab Emirates, to capitalize on the region's growing retail market.^[19]

He was instrumental in expanding the BFL Group's portfolio beyond the original Brands for Less, by the development of additional concepts such as Toys For Less, Homes For Less, and Luxury For Less.^[20][21][22] As of 2025, BFL Group has more than 120 stores in 7 markets across the GCC and Southeast Asia.^{[8][9][23][24][20][21][25][26][27]}

In August 2024, Toufic Kreidieh and Yasser Beydoun sold a 35% stake of the Brands For Less Group to The TJX Companies, Inc. for $360 million, valuing it at $1.2 billion and aiming for further expansion into the GCC region. Kreidieh has since focused on international expansion and brand portfolio growth, reinforcing BFL's digital and sustainability agenda.^[28][29][30]

From 2025, following this transaction, Toufic Kreidieh assumed the role of Executive Chairman of the Board.^{[31][32][33][34]} In 2025, BFL Group operates a retail network, with an online platform and more than 120  physical stores across countries such as the United Arab Emirates, Saudi Arabia, Qatar, Kuwait, Oman, Bahrain, Singapore, and Malaysia.^[35][36]

Toufic Kreidieh also presented a masterclass on building and growing businesses through the Arabic edutainment platform Maharat where he shared his business expertise based on his experience scaling BFL and provided practical advice for aspiring entrepreneurs.^[37][38]