RETAIL PEOPLE MAGAZINE ISSUE 39 - A JOURNEY IN STYLE

A JOURNEY IN STYLE

Ambassadors for Kinan

Discover the secrets behind Kinan’s success in KSA’s real estate market through innovation, luxury, and a commitment to excellence. A company that’s not just building communities but crafting an extraordinary lifestyle experience for the residents and business alike.

Born in the United Arab Emirates, THAT Concept Store is a place of exploration where every purchase is a journey of curiosity and discovery. The world of THAT is a unique fusion of emerging and established brands from global and regional talent, housed in a one-of-a-kind lifestyle destination for the creative consumer. From fashion and beauty to art and interiors, THAT offers customers an ever-evolving assortment from which they can express themselves, be inspired and discover something new.

The award-winning distinctive concept, developed by Majid Al Futtaim, offers customers an individualised journey across an immersive in-store space, including a beauty hub for women and a grooming station for men, gift wrapping, personal tailoring, and a private shopping service like no other.

WELCOME

“The only way to do great work is to love what you do.” – Steve Jobs

It is with immense pleasure that we welcome you to the second quarter edition of the Retail People Magazine themed “A Journey in Style,” where we embark on a stylish journey through the vibrant landscape of the retail industry.

Our cover story for this edition shines a spotlight on KINAN, a beacon of innovation in the Saudi market, led by the dynamic duo of Eng. Nidal Jamjoom, CEO and Namar Ghouth, COO. Their story exemplifies the spirit of pushing boundaries and redefining possibilities.

Our pages come alive with insights, trends, and inspiring voices.

DR. YOUNIS AL MULLA

MECS+R Board Chairman Senior Vice President

Business Devt. - Corporate HO

Majid Al Futtaim Retail Dubai, United Arab Emirates

DUAIJ AL RUMAIHI

Board President | MECS+R Mall Director, City Centre Bahrain

Majid Al Futtaim Properties Manama, Bahrain

MECS+R BOARD OF DIRECTORS

LIZELLE FITOUSSI

MECS+R Board Vice President Director - Marketing City Walk, The Beach JBR, J1 Beach Merex Investment Group Dubai, United Arab Emirates

DAVID HUESSER

MECS+R Board Treasurer

The Outlet Resource Group (TORG) Managing Director Dubai, United Arab Emirates

MOHAMMAD AL QAED

MECS+R Board Member

Acting Chief Commercial Officer

Seef Properties Manama, Bahrain

SAAD ZUBERI

MECS+R Board Member Executive Director Lucky Landmark (Pvt.) Limited Karachi, Pakistan

As you delve deeper into the pages of this edition, you’ll discover captivating insights into the future of living and lifestyle, driven by the transformative developments in shopping mall culture across the Kingdom of Saudi Arabia and UAE. From CENOMI, HAMAT to MEREX INVESTMENT, each feature reflects the resilience and creativity that define our industry.

Our interactive trend reports take you on a journey from the flourishing F&B industry in the UAE to the evolving landscape of luxury fashion, where social media plays a pivotal role in shaping consumer behaviour.

Moreover, our Market Mix segment explores the synergy between physical and online retail environments, highlighting the importance of exceeding customer expectations in style and fashion. From franchise sectors to entertainment destinations, we uncover the trends shaping the global retail landscape.

In our new segment, “From the Frontlines,” we celebrate the inspiring individuals who are shaping the future of retail. Meet Anoop Gopal, Ayman Al Burti, Nada Ghaoui Abousaab, Phil McArthur, Lara Kharrat, and yours truly, David Macadam. Each Q&A session is a testament to the dedication and passion that define our industry.

Lastly, our MENA Retail Round-Up and Retail Around the Globe segments provide a comprehensive overview of the latest news and trends, both regionally and internationally.

We extend our heartfelt gratitude to our esteemed sponsors for making this edition possible: KINAN, MAJID AL FUTTAIM FASHION, AZAD PROPERTIES, YARDI and HAMAT HOLDING. Their unwavering support, alongside the dedication of our contributors, has brought this issue to life.

As we navigate through the ever-evolving retail landscape, let us embrace the spirit of innovation, collaboration, and resilience. Together, let us continue to write the story of retail excellence.

Thank you for joining us on this journey.

Warm regards,

DAVID MACADAM Chief Executive Officer

MECS+R

DUAIJ AL RUMAIHI

Board President | MECS+R Mall Director, City Centre Bahrain

Eng. Nidal Jamjoom, CEO and Namar Ghouth, COO Ambassadors for Kinan

The Middle East Council of Shopping Centres & Retailers

2nd Floor, DAC Office 207

Unit No. 4, The Offices 2, One Central, DWTC

P.O. Box 9292, Dubai, UAE

Tel. No.: +971 4 516 3061 l Mob.: +971 56 548 1380 www.mecsr.org | www.retailcongressmena.com

David Macadam CE0

david@mecsr.org

Khaye Comanda Finance Director khaye@mecsr.org

Karishma Lakhwani Events & Marketing Manager kari@mecsr.org

Rufaidh Rismin Digital Content and Innovation Executive ruf@mecsr.org

Christian Baldonanza Director ian@mecsr.org

Mariz Matocdo Communication & Sponsorship Manager mariz@mecsr.org

Sandhya Rajan Business Development Database Executive sandy@mecsr.org

Marjorie Villo Administrative Support Associate marjorie@mecsr.org

KINAN’S INSPIRATION Is Constantly Pushing the Boundaries of Innovation and Leading the Way in the Saudi Market

12 The Future of Living & Lifestyle: The Shopping Mall Developments Driving Growth Across KSA 14 Lavanda Park - Saudi Arabia’s Architectural Radiance Redefining Luxury 16 Turning Challenges into Triumphs - City Walk Shines As a Vibrant Hub of Possibilities

20 UAE’s F&B Industry Flourishes as a Global Culinary Powerhouse 22 Creating Safe & Resilient Shopping Environments - Best Practices for Disaster Response and Recovery MARKET MIX

24 Fashion, AI and TikTok: Luxury Fashion in the Middle East in 2024

Social Media: Shaping the Future of Luxury Fashion 28 Exceeding Customer Expectations in Style & Fashion 30 Elevating the Cinema Experience to New Heights of Luxury 32 The Bentley Effect: Steering Malls Toward a High-End Shopper Experience

From Clicks to Bricks: The Synergy of Physical and Online Retail Environments

Markethalls - An Ancient Format On The Rise

Growing Trend Worldwide - Franchise Sector and Service Exports Across Borders

Making Entertainment the Destination

FROM THE FRONTLINES

42 Anoop Gopal - Business Head, Oasis Malls Landmark Group

43 Ayman Al Burti - Chief Executive Officer, Azad Properties

44 Nada Ghaoui Abousaab - Co-Founder, Fikra Consultants

Phil McArthur - Founder and Chairman, McARTHUR Retail Development Specialists

RETAIL ROUND UP

48 One Za’abeel achieves the Guinness World Records™ title for the ‘Longest Cantilevered Building’ in the world

Jacquemus Opens First Store In Middle East

49 GMG & VF Corporation to Expand Across MENA & SEA

Al Hamra Launches Premium Waterfront Project

50 Spinneys Kicks Off IPO To Raise Dh1.375 Billion Cegid Launches its Point of Delivery to Serve the Middle East Market

51 Roshn Group Launches AlManar, its 1st Integrated Community in Makkah Diriyah Company Unveils Zallal: A New MixedUse Development in Bujairi District

52 Cenomi Retail Appoints Deloitte As Advisor For Aleph Sell-Off

Turkish Group Arçelik Acquires Whirlpool’s MENA Operations

53 EazyPay Among Top 50 Fintech Companies in Middle East

Targeting Major Growth in ME, Trendyol attends The Retail Summit in Dubai

RETAIL AROUND THE GLOBE

54 Coca-Cola Sparks AI Transformation With $1.1b Microsoft Cloud Expansion

Unilever, Mondelez, Nestle, Ben & Jerry’s Among Brands Piloting DTC Delivery

Estee Lauder Opens AI Innovation Lab To Expedite R&D And Social Listening

EU Toughens Safety Rules For Online Retailer Shein

TikTok Announces Pre-Owned Luxury Category, UK’s ‘Big 5’ Resellers Sign Up Foot Locker Debuts ‘Store Of The Future’ As It Looks To Win Back Wall Street’s Confidence

55 Adidas Shares Rise 8% After First-Quarter Profit Hike

Partners Capital & CNR Retail To Replace Offices With Mall In Henderson

GenAI Virtual Shoppers

SPAR Gran Canaria Optimising Retail Network’s Energy Efficiency

Nordstrom Family Tries Again To Take Department Store Private

If

David Macadam, Chief Executive Officer, MECS+R

The Future of In-Store Technology: Embracing the Change

KINAN’S INSPIRATION IS CONSTANTLY

PUSHING

THE BOUNDARIES OF INNOVATION AND LEADING

Kinan, one of the highly esteemed and well-regarded Saudi companies, is known for its exceptional expertise in developing and managing residential communities and commercial centers across various cities in the Kingdom of Saudi Arabia. The company’s commitment to excellence and attention to detail is evident in its impeccable track record and reputation for delivering top-notch services to its clients. With its unparalleled experience and extensive industry knowledge, Kinan is widely considered a leader in the field, and its innovative approach to community development and management has made it a trusted partner for many businesses and individuals alike.

Across its operation, Kinan reflects innovation and modernization. One of its primary differentiators is its reputation for introducing new and modern designs in its residential and commercial projects, which distinguishes it from its competitors. Additionally, Kinan is committed to exploring new technologies and materials to incorporate into their projects, which helps to ensure that their communities are

NIDAL JAMJOOM CEO

KINAN INTERNATIONAL REAL ESTATE DEVELOPMENT CO.

Nidal Jamjoom, a highly accomplished CEO, excels in strategic leadership, employee engagement, and community impact. With a proven track record, he drives excellence, boosts employee satisfaction, and fosters sustainability through innovative practices. His exceptional team management, industry recognition, and client relationships contribute significantly to organizational success. Nidal’s remarkable contributions to corporate social responsibility and financial performance make him invaluable.

WE ARE PROUD TO RAISE A CULTURE OF TRANSPARENCY, RECOGNITION, AND WORK-LIFE BALANCE, WHICH ENABLES OUR EMPLOYEES TO ACHIEVE THEIR FULL POTENTIAL AND CONTRIBUTE TO THE SUCCESS OF OUR COMPANY AND THE ACCOMPLISHMENT OF OUR VISION TO RAISE THE QUALITY OF COMMUNITIES BY PROVIDING REAL ESTATE PROPERTIES WITH A DISTINCTIVE LIFESTYLE.

both sustainable and environmentally friendly. Moreover, the company adopts a customer-centric approach, consistently seeking feedback and input from their clients to improve their products and services. The innovative leadership of Kinan is attributed to the collective contribution of these factors within the industry to raise the quality of life of communities by providing real estate properties with a distinctive lifestyle. With this in hand, the CEO, Eng. Nidal Jamjoom was awarded the Best Leader in Implementing Employee Engagement Strategies by Global Business Outlook for his exceptional leadership and for fostering a positive work environment.

“As a leading real estate company specialising in building communities with a lifestyle, Kinan’s commitment to innovation and modernization extends beyond our residential and commercial projects, as evidenced by the recent renovation of our headquarters office space. The company’s focus on creating a comfortable and collaborative work environment for our employees is a testament to our dedication to their well-being. By prioritizing the needs of our people, Kinan is not only enhancing their work experience but also stimulating a positive work culture that values and recognizes its employees’ contributions. As a result, we were bestowed the Best Place to Work award. Moreover, we were also awarded the Best Inhouse Office Architectural Real Estate – Saudi Arabia 2023 award”, said Eng. Nidal Jamjoom, CEO of Kinan.

Telalah Residence Park

ENG. NIDAL JAMJOOM, CEO, KINAN

“At Kinan, we believe that our employees are our most valuable asset, and their well-being is of utmost importance to us. We understand that a positive work environment and a healthy work-life balance are essential for our employees to thrive and excel in their roles. Hence, we invested in our workspace and our employees’ development, growth, and happiness as we seek to create a culture of excellence and innovation that benefits both our employees and our clients”, Jamjoom explained.

Kinan’s commitment to its employees’ well-being is reflected in the design of its office space, which was tailored to meet their needs and foster productivity, creativity, and collaboration.

“We are proud to raise a culture of transparency, recognition, and work-life balance, which enables our employees to achieve their full potential and contribute to the success of our company and the accomplishment of our vision to raise the quality of communities by providing real estate properties with a distinctive lifestyle”, Jamjoom added.

Kinan renovated its head office located in Jeddah to create a comfortable and collaborative work environment for its employees. The headquarters design covers an area of 1500 square meters and is a demonstration of the company’s commitment to prioritizing employee well-being. The design aimed to promote creativity, innovation, and collaboration among employees in spaces made for learning and knowledgesharing, which encouraged employees to develop their skills and share their knowledge. Creating a designated area for employees to unwind and rejuvenate can have a significant impact on their stress levels, mental health, and overall job contentment. The office space is well-planned and caters to employees’ needs, from the reception to the boardroom. Kinan invests in its employees and fosters a culture of openness, appreciation, and work-life balance.

WE EMBARKED ON REAL ESTATE PROJECTS A WHILE AGO WITH THE AIM OF CREATING CONTEMPORARY LIVING EXPERIENCES FOR COMMUNITIES. WE MADE SIGNIFICANT EFFORTS TO ANALYZE THE MARKET’S DEMANDS AND OFFER SUPERIOR-QUALITY REAL ESTATE THAT RESIDENTS CAN TAKE PRIDE IN.

NAMAR GHOUTH, COO, KINAN

Kinan Leadership Team: From left to right: Mahmoud Abumansour, Namar Ghouth, Nidal Jamjoon and Mohammad Domyati

COVER EXCLUSIVE SIGNATURE SPOTLIGHT

Kinan’s commitment to innovation and modernization extends to all its residential projects, including the Telalah Residence, which is a testament to its dedication to providing real estate properties with a distinctive lifestyle. The Telalah Residence is a luxurious residential community that embraces the finest modern villas and integrated services to suit the lifestyle and aspirations of individuals who desire to live in an elite society in a harmonious and calm environment. With 165 villas with panoramic views and six main design models, each with two different facades to cater to all high-end tastes, the Telalah Residence is a true reflection of Kinan’s innovative approach towards community development and management.

“We embarked on real estate projects a while ago with the aim of creating contemporary living experiences for communities. We made significant efforts to analyze the market’s demands and offer superior-quality real estate that residents can take pride in”, said Namar Ghouth, the Chief Operation Officer of Kinan.

The residential area known as Telalah Residence takes its name from the surrounding topography of hills. The development boasts an extensive 36,000 square meters of lush greenery, in addition to 72,000 square meters of commercial space. Residents can enjoy several playgrounds, parks, and other nature-related activities. Moreover, there are many opportunities for residents to immerse themselves in nature.

“Telalah Residence, situated in the northern city of Riyadh, is a strategically positioned project. It benefits from being in a central position between three major roads, which provide it with excellent access to King Salman Road, Abi Baker Alsiddiq Road, and Othman Bin Affan Road. Additionally, it is conveniently situated near the King Khalid Airport,” Ghouth explained.

NAMAR GHOUTH

COO

KINAN INTERNATIONAL REAL ESTATE DEVELOPMENT CO.

Namar Ghouth, COO at Kinan, began at Procter & Gamble before transitioning to human resources. He focuses on empowering local organizations and optimizing talent. Currently, he oversees improving residential communities covering 1.7 million sqm and innovating home designs at Kinan. With 230 homes built, he’s developing 300 more with cutting-edge designs and infrastructure for master layouts spanning 2.5 million sqm. Namar prioritizes customer satisfaction and shareholder returns, guided by financial indicators.

Telalah Residence Park

COVER EXCLUSIVE

Kinan is a highly esteemed Saudi Arabian company that has carved a niche for itself in the field of developing and managing residential communities. With its exceptional expertise, the company has won the trust of homeowners and investors alike, and its communities are known for their quality, comfort, and security. Kinan is also involved in the development and management of commercial centers located in various cities throughout the Kingdom of Saudi Arabia. These commercial centres are designed to cater to the needs of businesses of all sizes, and they offer a wide range of state-of-the-art facilities and services to ensure the smooth running of businesses. Whether it is a residential community or a commercial centre, Kinan is committed to providing the highest level of quality and satisfaction to its clients.

“Kinan is dedicated to incorporating modern facilities and concepts into its projects on a continuous basis. As part of this effort, we have partnered with Elaf Group to operate hotel services at Aliat Mall. These agreements are significant steps towards achieving our goals”, Ghouth added.

In addition to residential communities, Kinan is also involved in the development and management of commercial centres located in various cities throughout the Kingdom of Saudi Arabia. These centres are designed to cater to the diverse needs of businesses of all sizes. The company offers a wide range of state-of-the-art facilities and services to ensure the smooth running of businesses, including advanced IT infrastructure, modern office spaces, and various amenities. Kinan is committed to providing the highest level of quality and satisfaction to its clients, both in the residential and commercial sectors. Kinan’s team of experienced professionals works tirelessly to ensure that every aspect of their projects is of the highest standard, from design and construction to management and maintenance. Whether a homeowner looking for a luxurious living experience or a business owner seeking a world-class workspace, Kinan has the technical know-how and experience to provide reliable and effective real estate solutions.

Aliat Mall

THE FUTURE OF LIVING AND LIFESTYLE:

THE SHOPPING MALL DEVELOPMENTS DRIVING GROWTH ACROSS KSA

From Dolce & Gabbana’s seminal 2022 show in Al-Ula, to Valentino’s choice of Jeddah to launch its global retail concept, Saudi Arabia has established itself as a focal point for the international fashion and lifestyle industry – with further expansion only inevitable.

As the strongest growing G20 economy, the Saudi market has become increasingly attractive to international brands eager to capitalize on the most exciting opportunity in the sector in decades – with the fashion industry worth US $12.5 billion, accounting for 1.4 per cent of KSA’s GDP. And while many brands have already secured a foothold across the Kingdom, new and ambitious shopping centre developments are playing a critical role in advancing the growth of the industry, in line with Vision 2030 goals.

Take Cenomi Centers’ new development - Jawharat Riyadh.

Seeking to redefine the consumer experience and set new standards in both Riyadh and the Kingdom of Saudi Arabia, Jawharat Riyadh is set to promote Riyadh on the local, regional, and international stage with its best-in-class experiential retail offering.

Boasting over 300 stores, Jawharat Riyadh will bring luxury, lifestyle brands, entertainment, and dining to the capital at a scale not seen before in the Kingdom. It will host 70 plus flagship stores and more than 30 first to KSA retailers. Jawharat Riyadh will feature the first and largest luxury wing inside a shopping centre spanning over 25,000sqm with more than 60 luxury stores as well as services from handsfree shopping to personal styling.

MYF BAGNOLD Group Chief Marketing Officer CENOMI GROUP

Myf brings over 25 years’ experience in marketing leadership to her role as Group Chief Marketing Officer. She joined Cenomi Group in August 2022 and leads a team of over 30 marketers across the business to develop insight-based marketing campaigns to drive the performance of both operating and development assets.

With 185,000 sqm of total mixed-use space, not only will the Luxury District delight visitors from far and wide, Jawharat Riyadh will boast additional distinct lifestyle districts, including the Fashion & Lifestyle Avenue; Youth & Innovation Zone; the Leisure & Entertainment District and four F&B zones. With exceptional landscaping, customers will have the feeling of space and time as they browse the variety of fashion, dining, and entertainment options – making it a true lifestyle destination catering to every customer’s need.

Technology’s influence on the customer experience is front of the mind across each district, with, for example, unique, all-age and world-class entertainment concepts on offer. As customers explore Jawharat Riyadh, they will also come across numerous digital offerings, including 3D holographic digital screens with generative art and mixed reality features, all designed to wow and delight.

Cenomi Centers’ Jawharat Riyadh is truly offering the retail experience of tomorrow. To this end, the development is expected to play an important role in helping drive tourism to the country – a key pillar of Vision 2030. Indeed, this centre alone is expected to attract 24 million visitors a year, a figure adding to Cenomi Centers’ total 124 million customers that visited its

22 shopping centre destinations across 10 cities in 2023. And all importantly, the development is set to create 4,000 jobs for local people – another key cornerstone of Vision 2030.

Opening in the second half of 2025, the launch will be a milestone moment as Cenomi Centers pushes ahead with its ambitious growth pipeline to develop a number of next-generation retail and lifestyle assets in Saudi Arabia. Only in February, Cenomi Centers held the Grand Opening of U Walk Jeddah – the city’s very first hybrid mall concept that seamlessly integrates indoor and outdoor experiences. Cenomi Centers’ growth pipeline includes 6 new centres featuring three flagships and three lifestyle centers which will add a further 44% of GLA by 2027 taking to the total GLA to around 2 million sq ft.

As the KSA retail industry moves from strength to strength, the advent of new and innovative retail developments will play a critical role in spearheading both the growth of the sector and wider initiatives to diversify the economy.

Already, retail has become one of the fastest growth industries in the Kingdom – and this trend is only expected to grow. With Saudi Arabia’s young, vibrant population predicted to double in the first half of the 21st century, retail demand is set to soar. From 2021 to 2025, fashion sales in Saudi Arabia are expected to surge by 48%, representing an annual growth rate of 13%.

The future of the KSA retail sector is bright. And for precisely this reason, the global fashion sector is turning its attention to our shores. To harness the industry’s potential, and catalyze growth at this critical juncture, prioritizing future-facing shopping center developments will be essential to deliver a new world of retail opportunities.

CENTRE STAGE BUZZ

LAVANDA PARK SAUDI ARABIA’S ARCHITECTURAL

RADIANCE REDEFINING LUXURY

In the heart of Saudi Arabia’s Aseer region, where the air carries a cool whisper of the surrounding mountains and the economy pulses with potential, stands Lavanda Park— an emblem of commercial innovation and modern architectural splendor. Managed by Hamat Holding, a leader in commercial real estate innovation, Lavanda Park emerges as a centerpiece in the Aseer Region Development Strategy, setting a new standard for shopping and entertainment experiences in the Kingdom.

Strategically located between the bustling cities of Abha and Khamis Mushait on King Fahd Road, Lavanda Park is not just a mall, but a sophisticated cultural gateway that reflects the rich heritage and contemporary zest of its surroundings. The facility boasts a massive built-up area of 68,156 square meters, with a gross leasable area (GLA) of 41,933 square meters, designed to cater to the needs and luxuries of over two million visitors annually.

The design of Lavanda Park incorporates a variety of specialized zones that seamlessly integrate with the enchanting natural landscape. The Valley Area, a vast space topped with an immense glass dome, offers an airy and open shopping experience, reflecting the Saudi cultural renaissance. Meanwhile, the Boulevard Area enchants itself with its beautiful jacaranda trees and dazzling installations, providing a picturesque backdrop for both leisurely walks and luxurious shopping experiences.

For dining aficionados, the Terrace Area extends an invitation to enjoy exceptional cuisine in the open air, accompanied by breathtaking views of Abha’s natural scenery. This area is a testament to Lavanda Park’s commitment to providing a unique dining experience that aligns with the captivating ambiance of its locale.

The economic impact of Lavanda Park extends beyond mere consumerism; it’s a beacon for potential investment across various sectors due to the unique climatic characteristics and the diversity of tourism attractions in the region. Lavanda Park is expected to play a crucial role in transforming the Aseer region into a prime tourist destination throughout the year, bolstered by modern, historical, and entertainment projects.

Hamat Holding’s initiative in redefining the shopping and entertainment experience at Lavanda Park is a bold step

Since its inception in 2012, Hamat has rapidly established itself as a powerhouse in commercial real estate across the Kingdom of Saudi Arabia. Known for owning, developing, and operating a substantial portfolio of shopping centers, Hamat sets the standard in creating spaces that meet international benchmarks.

This visionary company has significantly altered the retail landscape by developing modern, culturally infused rental spaces that elevate the shopping experience to new heights. Each Hamat center is more than a mere shopping location; it’s a dynamic community hub designed for shopping, socializing, and entertainment, reflecting the unique cultural fabric of the local community.

Committed to excellence, Hamat continues to innovate, ensuring their centers are not only market leaders but also integral parts of the communities they serve. Their dedication to enhancing the consumer experience and community engagement makes Hamat a true leader in the field of commercial real estate development.

LAVANDA PARK SERVES NOT ONLY AS A RETAIL AND ENTERTAINMENT CENTER

BUT ALSO AS A VIBRANT CULTURAL HUB THAT ENRICHES THE COMMUNITY AND ELEVATES THE VISITOR EXPERIENCE IN THE KINGDOM OF SAUDI ARABIA.

towards enhancing the quality of life in the Aseer region. With a focus on innovation and excellence, Hamat Holding continues to foster environments that resonate with the preferences of visitors, creating modern, unique, and appealing commercial spaces that meet global standards.

As Lavanda Park opens its doors, it invites residents and tourists alike to immerse themselves in a shopping experience like no other. This project not only underscores the economic ambitions of the Kingdom but also showcases the cultural heritage and hospitality that Saudi Arabia has to offer.

Adding to its allure, Lavanda Park’s proximity to significant city centers and transportation hubs, such as being just minutes away from the airport and major city centers, makes it highly accessible. The park also features a diverse array of

entertainment options, including a centrally located animated fountain, which adds to the festive atmosphere, making it a lively hub of activity that appeals to all age groups. With its expansive parking facilities and comprehensive layout that includes a hypermarket, grand stores, and a variety of dining and leisure options, Lavanda Park caters to both local shoppers and international tourists, enhancing its role as a key player in the region’s development.

By combining modern architecture with elements of Aseer’s rich cultural heritage, Lavanda Park serves not only as a retail and entertainment center but also as a vibrant cultural hub that enriches the community and elevates the visitor experience in the Kingdom of Saudi Arabia.

It is worth mentioning that Hamat Holding, the management company of Lavanda Park is a key player in the field of commercial centers’ development, management, and operation, with more than 15 commercial centers under its management and with decades of industry expertise, Hamat Holding has established itself as a leader in transforming retail environments and enhancing consumer experiences. Their strategic vision encompasses a forward-thinking approach to urban development, integrating innovative design with functional spaces that attract millions annually. Their portfolio showcases their commitment to excellence and sustainable practices. Hamat’s influence extends beyond mere construction; they play a critical role in shaping regional shopping habits and contributing significantly to economic growth.

CENTRE STAGE BUZZ

TURNING CHALLENGES INTO TRIUMPHS

CITY WALK SHINES AS A VIBRANT HUB OF POSSIBILITIES

The City Walk that first greeted Dubai’s ever-evolving population in 2016 bears little resemblance to the vibrant destination you will visit today. This metamorphosis of what was once a pedestrian plaza into a thriving lifestyle hub mirrors the dynamism of the city and its people.

But let’s rewind for a moment. With a lacklustre tenant occupancy at around 41%, coupled with a conventional mix of retailers, City Walk faced its fair share of challenges. And then came the pandemic, adding another layer of challenges. But here’s the thing about challenges – they have a way of bringing out the best in us. So, instead of throwing in the towel, we embraced the opportunity for transformation. We set out to reimagine City Walk as a dynamic mixed-use retail destination, one that would cater to the diverse needs and desires of our global community.

At the outset, City Walk’s initial tenant mix was chosen for a more homegrown demographic. However, as the population of the city continued to grow and diversify, it became evident that City Walk needed to undergo a transformation to address the needs of its increasingly multifaceted and youthful customers, 55% of which now fall in the 18 to 30 age group range. This generation seeks novelty and vitality beyond conventional

SHAHRAM SHAMSAEE Chief Executive Officer MEREX INVESTMENT

With over 28 years of real estate experience spanning the Middle East and the USA, Shahram Shamsaee currently holds the position of CEO at Merex Investment. In this role, he oversees the management of Dubai’s renowned lifestyle destinations, including City Walk, The Beach, JBR, and the upcoming beachfront destination - J1 Beach.

shopping. That was our real game-changer. We knew that we had to create experiences – a destination that people would want to flock to, not just for transactions, but for the vibe and community. So, we began introducing new categories and concepts tailored to these evolving needs.

From educational and co-working spaces to wellness centres and more youthful brands, we went about curating a tenant mix that is enriching and memorable for everyone. As a result of this strategic shift, the occupancy at the destination has surged from under half occupancy to now 98%, indicating the success of our decision to stay relevant for our visitors.

CENTRE STAGE BUZZ

Our engagement with fashion-forward customers revealed a strong demand for athleisure brands that seamlessly blend comfort and style. Introducing the popular trio Lululemon, Adidas, and Puma at City Walk was a natural decision so that we could cater to the active lifestyle of the city. Such brands are the perfect fusion of fashion and versatility and, when complemented with wellness concepts, such as the Aspris Wellbeing Centre, HELT Fitness, Fitness Zone, Boost and The Free Spirit Collective, allow our customers to achieve a healthy and balanced life they want. Our new lineup of lifestyle brands like Studio 971, NOK Home and Forma Italy resonate with their modern aesthetics and refined living.

As someone deeply passionate about food, revitalizing the dining landscape at City Walk with our C2 Licensed District brought me immense pleasure. Spanning 25,000 sq ft, this vibrant food haven features lush trees for natural shade and pergolas draped with climbing creepers, creating a cool ambiance for alfresco dining day and night. Whether craving Greek, Italian, French, Mediterranean or Japanese, our 11 distinctive international and homegrown casual dining restaurants, including Baku Café, Brass Monkey, Daikan Izakaya, La Antica Pizzeria Da Michele, La Serre, Myata, Mythos Urban Greek Eatery, Nola Bijou Bistro & Bar, Nox, Primi Cucina Italiana, and Rare, bring a new dimension to the eating out experience and suit every palate and preference.

We’ve also successfully attracted automotive brands like AMG, Cadillac, Fiat & Abarth, Al Damani, TechArt, Bizzarini, Carugati Automobiles, Lucid Motors, Brabus Middle East and the pioneering experimental hub by Al-Futtaim Automotive, which hosts a curated calendar of bespoke events and exclusivity that customers won’t find anywhere else. And to enhance our mixed-used charm, we have added 22 purpose-

OUR

LIFESTYLE DESTINATIONS

CANNOT JUST BE ABOUT BRICK AND MORTAR, IT’S ABOUT FOSTERING A COMMUNITY AND LEAVING A LASTING IMPACT.

built office spaces, creating an environment of innovation and collaboration. This casual and inviting environment aligns with the aspirations and work style of a younger demographic and fast-growing remote businesses.

City Walk to us has been a testament of resilience and adaptability. It is more than a retail space; we’ve designed a lively destination where residents and visitors can thrive, unwind, make connections and enrich their lives. It is about offering endless possibilities and shaping the future of our industry. By bringing together experiential shopping with elevated living, work hubs, entertainment and dining, we’ve created a synergy that enhances their quality of life.

Our lifestyle destinations cannot just be about brick and mortar, it’s about fostering a community and leaving a lasting impact. I believe this integrated approach contributes to the overall wellbeing of the public and is the pinnacle of modern urban living.

Brabus Showroom

Lululemon Store

C2 at City Walk Nola

Brass Monkey

Exceptional Partnerships & Potential Strategy

Azad Properties upcoming project, Rabwa Boulevard in Riyadh, spanning 20 – 50 K sqm, is poised to revolutionize urban living. With its enticing pedestrian pathways, verdant landscapes, and atmospheric lighting, it guarantees to be an enchanting destination for community engagement and contemporary living essentials.

Azad Properties, PROPER Developments, and Hilton announced today the official signing of a transformative real estate collaboration, further contributing to the evolution of Jeddah’s thriving real estate landscape. Held at the Retail Leaders Circle conference in Riyadh. Azad Properties, known for its innovative urban developments, has partnered with PROPER Developments, a forward-thinking developer specializing in visionary mixeduse projects, and Hilton, a global leader in hospitality, to introduce a pioneering project within the vibrant Souq7 precinct in Jeddah.

The management of Azad properties and Souq7 held a fruitful annual meeting with the investors and partners of success an Souq7, where the marketing, strategic plans and cooperation plans were discussed among all

We prioritize innovation and flexibility in our operations, striving to maximize benefits for stakeholders by developing sustainable properties through the integration of local and international expertise.

UAE’S F&B INDUSTRY FLOURISHES AS A GLOBAL CULINARY POWERHOUSE

In 2024, the United Arab Emirates (UAE) will solidify its status as an epicurean destination with ultra-luxurious food, culture and lifestyle. The country’s Food & Beverage (F&B) industry is experiencing unprecedented growth, offering a rich tapestry of diverse gastronomic experiences.

latest report, “A comprehensive look at the evolution and trends in the UAE’s F&B sector”, delves into the economic forces shaping this landscape. The report analyses the evolution of the sector and the latest trends driving consumer engagement.

Our latest report, “A comprehensive look at the evolution and trends in the UAE’s F&B sector”, delves into the economic forces shaping this landscape. The report analyses the evolution of the sector and the latest trends driving consumer engagement.

Culinary Diversification and Multicultural Consumer Bases

Propel Dubai and Abu Dhabi to the Forefront

The UAE’s F&B industry has shown remarkable resilience and innovation, driven by economic stability and favourable

TECHNOLOGY HAS PLAYED A PIVOTAL ROLE IN THE EVOLUTION OF THE F&B SECTOR, DRIVING THE DEMAND FOR GHOST KITCHENS

THAT FOCUS ON STREAMLINED ONLINE ORDERS.

KOSTAS PAPADAKIS Manager – Foodservice Consulting JLL

Kostas embarked on his professional journey after completing his hospitality degree, where he began his career in F&B Operations, later transitioning towards ancillary revenue management at Atlantis the Palm Dubai. In early 2020, Kostas joined JLL’s Foodservice Consulting department, where he has successfully expanded his skill set to encompass the realm of F&B real estate.

regulations. With their multicultural consumer base and surging tourist arrivals, Dubai and Abu Dhabi stand at the forefront, celebrating culinary diversification. These cities create an enticing environment for both renowned concepts/chefs and aspiring food entrepreneurs.

Economic resilience backs UAE’s impressive F&B rise, with Mordor Intelligence predicting the market to reach $43.98 billion by 2029, growing at a CAGR of 17.09%. Notably, Dubai captured the spotlight in 2022 with a substantial annual growth of 29%. After clinching the fourth-best destination in TripAdvisor’s 2022 Travellers’ Choice Awards, the city further bolstered its reputation as a premier food tourism hub. Abu Dhabi ensures its niche in the vibrant F&B scene, with its unique offerings slated for expansion in the future.

INTERACTIVE TREND REPORT

On the global gastronomy map, the UAE expands its presence through milestones such as the inclusion of the Michelin Guide and the hosting of international events like Expo 2020 and COP28. These recognitions signify the country’s growing influence in the world of fine dining, with homegrown concepts like Avli by Tashas, Salt, and Kinoya, which are venturing beyond national borders, showcasing the international allure of the UAE’s culinary offering.

Technological Advancements and Sustainability

Technology has played a pivotal role in the evolution of the F&B sector, driving the demand for ghost kitchens that focus on streamlined online orders. The digital shift, accelerated by the pandemic, has enhanced operational efficiency and customer convenience.

One emerging trend in the UAE is the emphasis on food transparency. Discerning diners now desire to understand the origins of their food and the environmental impact of their dietary choices. Esteemed establishments like Boca in DIFC have set benchmarks by offering transparency in using locally sourced and sustainable ingredients. This is aligned with the heightened consumer consciousness around sustainability and is recognised by awards such as the Michelin Green Star.

Moreover, concepts resonating with consumer values are gaining traction, indicating a step beyond demographic targeting to include psychological and value-based preferences.

The personal narratives of chefs and the origin of their dishes now play a significant role, amplified by social media platforms. Authentic dining connections are generated as chefs engage audiences with their stories, as seen in places like Ossiano’s Four Hands Experience and TERO (The Experience by Reif Othman).

In conclusion, the UAE’s F&B sector is a dynamic example of adaptation and progression in response to emerging global and local trends. The rapid expansion of the industry, embracing technology and aligning with sustainable and ethical practices, has forged a vibrant, forward-looking food services landscape poised to capture local and international markets.

The UAE’s rising influence as a culinary powerhouse on the global stage is validated by its commitment to quality and innovation. As our report affirms, the future of F&B in the UAE is not just promising; it’s already unfolding.

CREATING SAFE & RESILIENT SHOPPING ENVIRONMENTS

BEST PRACTICES FOR DISASTER RESPONSE AND RECOVERY

The escalating incidents of climate change serve as a start reminder of future challenges, not only for malls and public spaces but also for all types of dwellings. Climate change is not just accelerating rain and storm-related perils in malls and other public spaces but also giving rise to ancillary safety concerns such as fires and the risk of electrocution emanating from such incidents.

The Middle East region faces looming threats of extreme water and heat threats resulting from climate changes, necessitating meticulous planning to confront potential crises. The recent rainfall in Dubai, the heaviest in 75 years, has spurred property managers to a unanimous realization: proactive preparation is paramount.

With the Middle East heating at a rate of 0.45 degrees annually, significantly surpassing the global average of 0.2 degrees, mall operators are poised to encounter a host of challenges. An integrated approach is imperative for all mall and property managers to navigate these emergent contingencies.

Globally, sea-surface temperatures are reaching unprecedented highs, signaling a distressing trend. Moreover, projections indicate a substantial increase in rainfall in the Middle East and East Mediterranean, amplifying the urgency for preparedness measures. Even seemingly minor incident which we faced in one of our assets, a fire incident exacerbated by extreme heat, underscore the vulnerability of existing infrastructure as it put out one of our chiller plants in the district cooling out of work and essentially affecting the capacity of the remaining plants.

GOGI GEORGE General Manager Development & Leasing Lulu Group

International

With a career spanning over two decades in the Middle East’s dynamic retail and shopping mall industry, Gogi George stands as a distinguished figure within the retail fraternity. Recognized for his remarkable contributions, he has successfully overseen a myriad of projects, spanning from regional and super regional malls to hospitality assets and lifestyle ventures.

The capacity disruptions caused by such events emphasize the need for robust contingency planning.

Outlined below are some key strategies for mall and property owners to address these evolving conditions:

Emergency Response Protocol (ERP):

Establish a leadership team to oversee the ERP, delineating common and rare incidents, their severity, and corresponding response measures.

CLIMATE CHANGE IS NOT JUST ACCELERATING RAIN AND STORMRELATED PERILS IN MALLS AND OTHER PUBLIC SPACES BUT ALSO GIVING RISE TO ANCILLARY SAFETY CONCERNS SUCH AS FIRES AND THE RISK OF ELECTROCUTION EMANATING FROM SUCH INCIDENTS.

Develop a structured process flow outlining step-by-step procedures for various scenarios. Implement trigger-based protocols, e.g. predefined wind grade thresholds triggering specific actions.

Utilization of Technology:

Leverage technology, including alerts and alarms integrated into Building Management Systems (BMS), to enhance threat identification and response capabilities.

Preparedness Phase:

A checklist on different risks and threats would include emergency preparedness for incidents such as:

1. Storm hurricanes and Rain damages etc

2. Fire related incidents

3. Earthquake and related incidents

4. Threat from other natural calamities

5. Threats from public disorders and acts of vandalism etc.

Create comprehensive guidelines and policies for reviewing and inspecting checklists covering a range of potential incidents, from storms to public disorders.

Implement regular inspections of critical infrastructure elements, such as gutters, rainwater ducts, and fire-prevention systems.

Response Phase:

Clearly define roles and responsibilities for business continuity measures, prioritizing human safety above all else.

Establish protocols for handling emergencies, including overflow management and securing retail outlets to minimize downtime.

Mitigate third-party risks and ensure compliance with regulatory requirements, including reporting for insurance purposes.

In essence, proactive planning, leveraging technology, and swift, coordinated responses are essential for mitigating the impacts of climate change-related incidents on malls and properties. By adopting a holistic approach encompassing preparedness and response measures, stakeholders can better safeguard lives, assets, and the continuity of operations in the face of escalating climate risks.

Luxury fashion retail has always had a major presence and for decades, the UAE has helped to shape luxury retail trends on the world stage. Local consumers in the GCC spend 60 per cent of their luxury spending in-country, a significant shift since pre-COVID. Due to this demand, the region is now adopting AI and social platforms to revolutionize trends prediction, supply chain optimization, and customer experience in fashion retail. Technologies like generative AI and ChatGPT are preparing the market for a more personalized luxury fashion industry.

Within the region, the United Arab Emirates (UAE) is a global leader in fashion luxury, with Dubai the city of choice for fashion shows held by Louis Vuitton and Gucci to name a few. Recent research conducted by Redseer indicates that luxury represents $5.4 billion in a $64 billion retail market, making it one of the highest-spending markets in the world. The Kingdom of Saudi Arabia hosted its first-ever Fashion Week in October last year established by the Saudi Fashion Commission.

This penchant for luxury fashion is therefore on the rise in the region. Leading this charge is the platform TikTok which shows that in KSA, 66 per cent of TikTok users use the app for discovery and inspiration of luxury products. Redseer’s data shows that 90 per cent of purchases are influenced by online content which is a huge play for marketers and operators considering their digital spend.

FASHION,

AI AND TIKTOK:

LUXURY FASHION IN THE MIDDLE EAST IN 2024

VANESSA HINTON

Retail Marketing Expert / Adjunct Faculty, Marketing Hult Business School

Entering the region in 2016, Vanessa has spearheaded the delivery of new brands for major projects across

retail, real-estate destinations, entertainment and hospitality brands holding Executive Group Director positions at Dubai Holding, Nakheel and Al-Futtaim Real Estate, working across the Middle East, Europe and Australasia regions.

TikTok

In an industry where brands have historically dictated the trends, now consumers and creators are now leveraging digital platforms to create their own rules and narrative about luxury. TikTok provides an outlet for these views to be authentically expressed by its community. This is leading to the emergence of what TikTok describes as “Community Commerce,” the next evolution of social commerce playing a critical role in how brands are perceived, not just promoted and sold.

MARKET MIX

POP UP EXPERIENCES ALSO CONTINUE TO REPRESENT BLENDING OF WELLKNOWN DUBAI ICONIC DESTINATIONS WITH NEW LUXURY FASHION CAMPAIGNS TO DRIVE ATTENTION. “

The Mall of Emirates TikTok campaign #MYMOEDance is a good example of an initiative that is playful and encouraged audience participation. It featured key influencer Karen Wazen, during Dubai Shopping Festival in 2021 who drove the trending campaign in the region delivering millions of impressions for the mall’s luxury retail tenants.

Localisation of Content

The importance of understanding local tastes and culture is also being recognised by the Luxury brands. Embedding luxury into a celebration of cultural or traditional forms allows brands to reach and appeal to a mass audience, including future new generation luxury consumers. A good example is Gucci, which created a Ramadan campaign the #GucciGameNight series which showcased its latest Ramadan fashion capsule collection, “Nojum” (meaning “stars”), integrating content from celebrities and creators from the region, including TikTokers, the Twins Hadban.

Pop Up experiences also continue to represent blending of well-known Dubai iconic destinations with new luxury fashion campaigns to drive attention. Recent examples of this is the takeover of Atlantis The Royal by Louis Vuitton, Kulture House (Miu Miu), Matcha Padel Club (Maison Valentino), Palm West Beach (Burberry / Michel Kors). Connecting locally, visually and authentically to maximise impact.

Fighting Fake Products

AI is being used to authenticate items, helping to prevent the sale of counterfeit fashion products, including shoes and

bags. An example of this technology is seen in LVMH-owned brand Patou’s launch of the AI-verification system called “Authentique Verify”. The process commences at the production chain, where the products are chipped to allow for tracking and prevention of return fraud, where counterfeit items are sent back instead of the original ones. Akin to fingerprints, uploading a picture to app, the system processes microscopic properties to authenticate the product.

AI-Powered Recommendations

Recommendation systems fueled by Generative AI analyse customer data to propose products that mirror the consumers personal style and preferences. Zegna has recently launched “Zenga-X” an AI-powered recommendation system creating an impressive 49 billion potential outfit combinations.

Another example is Christian Dior, who is using AI algorithms to produce individualized product suggestions based on substantial data such as a user’s purchasing history, online browsing tendencies, and social media posts. This is introduced in the form of the “Dior Insider”, an AI beauty assistant launched via Facebook Messager.

The potential of AI and Tik Tok in the luxury fashion industry is immense. It promises a future where retail, customer satisfaction, and operational efficiency will be at the forefront of the fashion industry. The question will be what businesses will prioritise these platforms with haste in order to have the first mover advantage and have the investment to support.

SOCIAL MEDIA SHAPING THE FUTURE OF LUXURY FASHION

It was a frosty February in Milan. As the CEO of Beymen—a luxury department store in Turkey—I was at Prada’s Fall/Winter 2009 fashion show. Among the elite guests were Vogue magazine’s fashion editors, owners of exclusive boutiques such as 10 Corso Como, and chief buyers from upscale department stores like Bergdorf Goodman. No smartphones, just pens and notepads to capture “the look.”

The show opened with a cascade of dramatic music as Prada’s models paraded down the runway in elegant lace dresses, lacey skirt-and-blouse ensembles, and lace-adorned satin dresses. The show lasted barely 15 minutes. Immediately, we began strategizing ways to wow our customers with the show’s highlights. The New York Times fashion critic Cathy Horyn predicted, “Those [satin] dresses will probably be the commercial bread and butter.”1 The new styles would hit the stores in late July or early August, ready for eager fashionistas to make their purchases and boast about being the first to wear Prada’s lace creations.

ESEL ÇEKIN Board Director & Advisor, Retail Expert & Leadership Coach, Author and Lecturer

Esel Çekin is a board director and advisor, a retail expert, an author and lecturer. Cekin serves on the boards of Migros Turkey and Coca Cola Icecek. She is the ex-CEO of Beymen, a luxury department store. She is an ex-Bain & Co. consultant and holds a Ph.D. in Economics.

THESE DAYS, DESIGNERS’ CREATIONS, WHICH TAKE MONTHS OF HARD WORK TO PRODUCE, ARE TRANSLATED QUICKLY INTO FASTFASHION ITEMS.

Fast-fashion retailers were constantly on the lookout for fresh, new styles. To replicate the catwalk trends, they had to browse fashion magazines, visit designer shops when the collections hit the luxury retailers, tweak the originals to create their own designs, manufacture the products, and finally, display them on shelves. The star of this concept in the late 2000s was Zara, the flagship brand of the Inditex group. Zara ran a tight ship on the supply chain, which allowed them to produce fashion

The idea of bringing luxury designer creations—from concept to sketch to materials and finished products—to massmarket shoppers is not a new phenomenon. In late 1940s and early 1950s, during the ready-to-wear revolution, U.S. department stores had a heyday offering French designers’ collections at affordable prices, a concept that was beyond the comprehension of French couturiers! Of course, copying designers’ fabrics, prints, colors, and shapes is always a sticky issue. We all saw in the Disney+ TV series how Cristóbal Balenciaga went ballistic over replicas of his styles.

These days, designers’ creations, which take months of hard work to produce, are translated quickly into fast-fashion

items. Thanks to social media and fast fashion’s streamlined production cycle, they are available everywhere to everyone in just a matter of weeks. And with ultra-fast-fashion retailers, the time can be as short as a few days. (China’s Shein has it down to 5 days, for example.) So the mass-market shopper got to enjoy the latest trends almost six months before the luxury shopper had access to the exclusive, one-of-a-kind designer creations.

Designers face yet another challenge: millions of influencers around the world—some macro, some micro or even nano— popularize new looks on digital platforms. Take, for example, 23-year-old Madeline Argy, a British university studentturned-influencer with over 5 million followers on TikTok. Her fans are keen to imitate her style, including the sweatshirt she’s sporting and the make-up she uses. The trend-setting pyramid has been upended. So we see that designers are no longer the only ones to hold sway over fashion trends. They now have to share that privilege with social media influencers, most of whom started out as ordinary individuals who gained popularity and status through their relatability.

Unable to ignore the power of social media influencers and their ability to set and popularize trends, luxury brands are now embracing the challenge influencers pose. The 110-yearold Prada, now with 1.3 million TikTok followers, has opened a dialogue to make the most of this new phenomenon. Argy happily accepted Prada’s invitation to its Fall/Winter 2024 fashion show. Wearing a rose-pink Prada design paired with a sleek black Prada bag, she confidently settled into her frontrow seat.

The inverted pyramid appears to be working for the luxury designer brands. Like Prada, other luxury brands have decided to capitalize on the appeal of social media platforms to showcase their work and stay on top of their game.

EXCEEDING CUSTOMER EXPECTATIONS IN STYLE & FASHION

In today’s fashion retail landscape, meeting customer expectations is no longer enough. Consumers now expect tailored experiences that resonate with their individual preferences. Globally, 71% of consumers desire personalized communications and products, and dissatisfaction arises when this isn’t offered. From personalized recommendations to bespoke styling services, the demand for customization has never been higher.

In this article, we explore the strategies fashion companies can employ to exceed these expectations, from embracing digital innovation to mastering the art of personalized panache. Join us as we uncover the secrets to crafting unforgettable experiences in style and fashion.

Changing Consumer Psyche: Customers now expect swift and seamless transitions from inspiration to acquisition. Amazon’s Prime service has set the bar for next-day or even same-day delivery. Whether it’s hailing a taxi, streaming a movie, or enjoying a meal, immediacy is the new norm.

Fragmented Inspiration: In the past, consumers often looked directly to brands or in-store assistants for purchase ideas. Today, inspiration comes from a diverse range of sources: social media, celebrities, influencers, and street style. Millennials, for instance, find inspiration more from external sources than directly from brands or retailers.

The Challenge for Fashion Companies: Unlike digital-native platforms, fashion companies often struggle to streamline the customer decision journey. The process remains fragmented, making it challenging for customers to shop based on their ideas and inspirations.

AAYAT KHAN Chief Operating Officer

LIGHTHOUSE

MIDDLE EAST

TRADING FZE

Experienced Senior Retail Leader with a proven track record in driving growth and leading international brand operations. Skilled in delivering exceptional customer service, empowering teams through coaching and training, and thriving in challenging environments.

The Need for Speed: Customers expect immediacy across various experiences. For instance, 61% of respondents in the UK won’t wait more than 45 minutes for food delivery. Google searches for businesses that are “open now” have tripled, reflecting this shift in mindset.

Creative Genesis: The journey begins with a burst of creativity as designers draw inspiration from diverse sources – art, culture, nature, or even everyday life. They infuse their designs with flair and originality, setting the stage for a stylish venture.

Fashionable Branding: Brands weave their unique narratives, creating an aura of allure and exclusivity around their products. Through sleek logos, sleek packaging, and captivating marketing campaigns, they captivate the imagination of fashion enthusiasts and set themselves apart in a crowded market.

Savvy Merchandising: Fashion retailers orchestrate immersive shopping experiences that tantalize the senses and ignite desire. From stylish storefront displays to carefully curated collections, they showcase their merchandise with flair, inviting customers into a world of sartorial splendor.

Trendsetting Retail Spaces: Retail environments become havens of style, where every corner exudes sophistication and glamour. With chic decor, ambient lighting, and plush furnishings, stores become more than mere shopping destinations – they are immersive showcases of fashion excellence.

Digital Glamour: In the digital realm, fashion retailers harness the power of technology to create seamless and stylish online experiences. From sleek websites to engaging social media

recommendations and bespoke styling services. With a keen eye for detail and a passion for fashion, they help customers express their individuality with panache.

Technological Enablers: Real-time tools allow businesses to work with diverse data across channels. Cloud-based platforms leverage AI and machine learning for processing and analyzing customer behavior data.

Hyper-Personalization: Advanced techniques set a high bar for brands. Going beyond basic segmentation, hyperpersonalized experiences across touchpoints drive customer lifetime value.

Everlasting Glamour: As the journey unfolds, fashion retailers leave an indelible mark on the world of style, creating timeless pieces that transcend trends and endure through the ages. With grace and glamour, they shape the landscape of fashion retail, leaving a legacy of elegance and innovation.

As we conclude our exploration into the world of fashion retail, one thing becomes abundantly clear: style is not just a commodity but a way of life. It’s a celebration of creativity, beauty, and self-expression that transcends mere transactions. From the drawing board to the runway, every step of the journey is imbued with meaning and purpose.

As fashion retailers, our mission is not just to sell products but to create experiences that captivate hearts and inspire minds. By embracing innovation, personalization, and a relentless pursuit of excellence, we can exceed customer expectations and leave a lasting impression on those we serve. Together, let us continue to craft unforgettable experiences and shape the landscape of fashion retail for generations to come.

ELEVATING THE CINEMA EXPERIENCE TO NEW HEIGHTS OF LUXURY

For decades, going to the movies has been a beloved form of entertainment, allowing people to escape into different worlds and stories on the big screen. However, as technology advances and home viewing experiences become more immersive, cinemas have had to adapt and innovate to keep audiences coming back. VOX Cinemas, a leading cinema chains in the Middle East, has taken this challenge head-on with the unveiling of its newly reimagined THEATRE at Mall of the Emirates in Dubai – a game-changing luxury cinema experience that promises to redefine the way we think about moviegoing.

From the moment you step into the THEATRE, you’re transported into a world of sophistication and indulgence. The reimagined THEATRE, which has been meticulously designed with audiences in mind and promises to deliver an elevated guest experience, marks another milestone in VOX Cinemas’ renovation and underscores its commitment to invest in and enhance its existing portfolio.

THEATRE guests can enjoy access to the exclusive Private Lounge, which features a range of stylish seating options, a billiards table and shuffleboard, creating the perfect

environment to socialize or savor a pre-movie meal in laidback luxury. The new-look Private Lounge décor pays homage to the world of cinema, with walls adorned with digital posters from iconic movies and film memorabilia, immersing you in the cinematic experience before you even enter the auditorium.

Once inside one of the four renovated auditoriums, you’ll be treated to a level of comfort and technology that rivals the finest home theatre setups. Gone are the standard cinema seats of old – THEATRE boasts enhanced seating with additional legroom and a choice of single, double, or group seating configurations. But these aren’t just any seats; they’re outfitted with plush blankets, pillows, wireless chargers, swivel tables, personal lighting, and privacy screens between the armrests of neighbouring guests, ensuring an unparalleled level of comfort and privacy.

In addition to the transformation of THEATRE, VOX Cinemas has been elevating the overall customer experience at Mall of the Emirates through various touchpoints. Earlier this year, VOX Cinemas upgraded its Standard experience to Premier, which promises movie-lovers unrivalled comfort and the latest A/V technology. Guests can choose from gliders or reclining seats for the perfect viewing angle and enjoy life-like visuals with stateof-the-art laser projectors. Following the completion of the renovation of Mall of the Emirates, VOX Cinemas will roll out enhancements across its flagship destinations in other markets across the region.

The auditoriums themselves have undergone a complete transformation, featuring state-of-theart large format screens, 4K Laser Projectors, and Dolby Atmos Sound. These cutting-edge technologies work in concert to create a truly immersive audiovisual experience that will make you feel like you are part of the on-screen action. The crystalclear visuals and enveloping audio will transport you into the heart of the story, captivating your senses and drawing you deeper into the narrative.

But the luxury doesn’t stop there. VOX Cinemas’ in-house chefs have crafted a diverse gourmet menu to complement

THEATRE AT MALL OF THE EMIRATES REPRESENTS THE NEXT GENERATION IN LUXURY CINEMA AND UNDERSCORES VOX CINEMAS’ COMMITMENT TO PUSH THE BOUNDARIES AND SET A NEW BENCHMARK IN ENTERTAINMENT EXCELLENCE.

IGNACE LAHOUD, CEO, MAJID AL FUTTAIM ENTERTAINMENT

the elevated cinema experience. With just a touch of a button, you can order a variety of delectable dishes and have them delivered directly to your seat, ensuring that you never have to miss a moment of the action.

According to Ignace Lahoud, Chief Executive Officer of Majid Al Futtaim Entertainment, the company behind VOX Cinemas, “THEATRE at Mall of the Emirates represents the next generation in luxury cinema and underscores VOX Cinemas’ commitment to push the boundaries and set a new benchmark in entertainment excellence.” And this is just the beginning – over the next two years, VOX Cinemas plans to roll out similar transformations across its flagship destinations throughout the region, ensuring that moviegoers everywhere can experience the ultimate in luxury cinema.

In an age where home entertainment systems are becoming increasingly sophisticated, VOX Cinemas’ THEATRE is a bold statement that the cinema experience is not only alive and well but evolving to new heights of luxury and immersion. By combining cutting-edge technology with impeccable design and unparalleled comfort, THEATRE offers a cinematic experience that simply cannot be replicated at home. It’s a testament to the enduring power of the big screen and a reminder that sometimes, the best way to escape into a story is to surrender yourself completely to the magic of the cinema. The newly reimagined THEATRE is now open at VOX Cinemas Mall of the Emirates, Level 2. For more information or to book tickets visit voxcinemas.com or the VOX Cinemas App.

THE BENTLEY EFFECT:

STEERING MALLS TOWARD A HIGH-END SHOPPER EXPERIENCE

MIn some markets, this might work, but often, it neutralizes the shopping experience. Everything is on sale or ridiculously low priced, but your online competitors Temu and Shein are even lower.

The malls I’ve worked with, including Newport Fashion Island and South Coast Plaza, have a broad mix of retailers, as shoppers often trade down for some things but up for others.

The money is in those who trade up.

And with so much money flowing into malls because, as Placer.ai notes, “Malls are back,” the renovation of storefronts is table stakes. Malls offer a unique experience as visitors seek a different identity.

To move the sales needle, you’ll need to convert lookers to buyers, specifically luxury buyers.

I recently had the honor of driving a 2024 Bentley W12 Speed for a three-day weekend courtesy of Bentley Paramus. It was a level of craftsmanship I’d never experienced, from the hand-stitched seats that molded to my back to the bespoke

Bob Phibbs

The Retail Doctor

Bob Phibbs is globally recognized as one of the world’s top retail experts with a core focus on supporting brick-and-mortar merchants. He is the author of 3 retail books, routinely trains retailers to gain 20-50% more in sales, speaks worldwide to various retail decision-makers and across multiple retail categories, and is known for helping to accelerate success through selling, merchandising, and marketing strategies. Learn more at RetailDoc.com

customizations of ride and comfort. Of course, 0-30 in 3 seconds is amazing.

When I worked with Omega timepieces, I learned that it isn’t uncommon for a master watchmaker to take nine months to complete one watch. Dozens of craftspeople and painstaking work often create the pride and heritage inherent to many brands customers covet.

The product then lands in a store, often where an associate treats it as stuff. Without passion and excitement, the merchandise sits, waiting.

TO MOVE THE SALES NEEDLE, YOU’LL NEED TO CONVERT LOOKERS TO BUYERS, SPECIFICALLY LUXURY BUYERS.

Your customers are waiting, too. They have been hoping the world news would turn positive and that they would not feel like Superman encountering kryptonite daily, yet every morning, their social alerts tell them nothing has changed.

They come into your store hoping to feel like Superman again.

In the old days, associates would be told the product was the hero, but since the pandemic, customers have become the heroes. They want to feel their purchase helps them become someone else. What does it add to their toolbelt to adapt so that they’ll get the girl, get the guy, get settled in a new home, get acquainted with the area, or get used to life with a new baby?

What they want is to feel better.

That can only happen when associates feel confident in their work in a store and understand that being brilliant at the basics is essential in the game of retail. In short, only heroes can sell to heroes.

I entered a luxury boutique in the cold of January winter in Manhattan. My teeth were chattering from the wind as I entered. The young woman said from across the counter, “Would you like a bottle of water?”

I thought to myself, out of the hundreds of things this person could have said to me at the moment, she either felt this was the very best or said the same thing every day, every month, every season.

I declined, and she watched me from afar with her hands behind her back.

You are seriously mistaken if you think you can get away with that and get someone to buy a $1000 cotton hoodie.

I can only guess she feels it’s just a hoodie like some jewelers feel it’s just a watch, or, like some clothiers feel it’s just a suit. No, luxury is more than that. Check out my video here, where I explain this in more depth, and you can also see the Bentley Speed.

When shoppers come to your store or mall, you better be ready to sell them that new identity with associates who enjoy making superheroes out of their customers.

Anything less, and you’ll be waiting around, hoping someone will come to your warehouse looking for exactly what you carry.

Ralph Simons, then CEO of Chopard North America, said, “The learning exercises Bob has developed, as well as his focus on looking at every interaction in the store from a client perspective, were as impressive as they were effective. It is why I hired Bob for several intensive in-store follow-up days to work directly with the teams.”

If you’re looking to take your store, brand, or mall to a new level of sales to match your facility, find a time to speak with Bob here.

FROM CLICKS TO BRICKS:

THE SYNERGY OF PHYSICAL AND ONLINE RETAIL ENVIRONMENTS

As the world grappled with the impact of the pandemic in 2020, online shopping became a necessity, leading retailers to enhance their e-commerce platforms. The high streets and shopping malls were deserted, and it looked like bricks-and-mortar stores might be a thing of the past. When they did eventually open again, social distancing and changing consumer behaviour left many brands wondering what the future would hold.

BY EMBRACING THIS HYBRID APPROACH, BUSINESSES CAN NOT ONLY ADAPT TO CHANGING CONSUMER BEHAVIOR BUT ALSO ENHANCE THE OVERALL SHOPPING EXPERIENCE.

Karl Escritt Chief Executive Officer

Like Digital & Partners

Karl boasts 20+ years of expertise in digital transformation. He excels in guiding brands through dynamic digital landscapes, delivering projects for notable brands including Atlantis, Majid Al Futtaim, Vodafone, McLaren, LVMH, The Macallan, and more. A prominent speaker and columnist, Karl champions future trends as well as and AI-enhanced customer experiences and has secured numerous accolades, including the 2021 Sitecore Experience Award for Intelligent Content Optimization.

1. Mall culture is still thriving

But what has naturally evolved since then is a hybrid retail landscape that I get asked about everyday as head of a digital agency. Blending the physical and digital shopping experience is no mean feat and there are certain lessons retailers should take into consideration when navigating this area of their strategy:

In the GCC, the mall experience is still extremely powerful. A place to go with family and friends to socialise in the evenings and at the weekends, a physical presence is still very important for retailers in this part of the world. In Saudi Arabia, for example, there is a huge appetite for lifestyle destinations which centre on retail as well as food and beverage and entertainment. A relatively young population - the majority of whom are under 35 - and a focus on making the kingdom more accessible for tourism and new business as part of Vision 2030,

offers retailers a great opportunity to create connected digital and physical experiences.

2. Don’t let technology control your business

The nature of my role of course means that I believe all businesses need to focus on their digital transformation and in retail this needs to be at the centre of their strategy. But I also believe in a tailored approach where one size does not fit all, and every digital trend does not suit every business. My aim is to put businesses back in control of technology rather than letting it control them.

3. Find the right support to help with personalisation

Hyper-personalization is everywhere from food delivery apps to Netflix to Amazon and consumer data is constantly being utilised to enhance purchasing experiences. In business, there’s no excuse not to know your customer but this goes one step beyond to using predictive analytics to help personalise their journey. If we are looking at a hybrid model, how do we ensure this process is seamless between online and offline touchpoints? Finding the right technical support on this is crucial.

4. Think virtual

From IKEA using augmented reality to show you how a piece of furniture would fit into your living room to BMW offering virtual test drives of their latest models and ASOS’s virtual fitting rooms, blended reality experiences are one of the most exciting transformations we are seeing. In 2023, Doha Festival City introduced their Virtual Mall which transports customers through a digital interpretation of its actual physical stores

where they can chat with store experts and shopping assistants before purchasing online.

By embracing this hybrid approach, businesses can not only adapt to changing consumer behavior but also enhance the overall shopping experience. As we navigate this evolving landscape, it’s essential for retailers to stay agile, leveraging technology to complement, rather than overshadow the humantouchinretail.

MARKETHALLSAN ANCIENT FORMAT ON THE RISE

The tradition of market halls is experiencing a revitalization in today’s modern society. These vibrant spaces, where people gather to buy and sell fresh produce and artisanal products, have been a cornerstone of civilization for centuries. In recent years, market halls have seen a resurgence in popularity worldwide, becoming not just places to shop, but destinations in their own right for locals and tourists alike.

Historically, market halls served as essential community hubs, providing a centralized location for exchanging goods and fostering social interaction. They were a reflection of local culture, offering unique flavors, culinary traditions, and heritage of a region. However, with the rise of supermarkets and industrialization, many traditional markets lost their appeal. But then, a shift occurred.

People began to realize the importance of reconnecting with their food sources and supporting local producers. The movement towards sustainable and ethical consumption gained momentum, and market halls emerged as ideal platforms for promoting these values. They became synonymous with the farm-to-table movement, offering a direct link from the producer to the consumer.

The resurgence of market halls can be attributed to factors such as the increased emphasis on quality and authenticity. Consumers are seeking out unique products that differentiate them from mass-produced items. Market halls provide the

Will Odwarka Chief Excitement Officer/Founder Heart@Work

Will Odwarka, CEO of Heartatwork Hospitality Consulting, brings 30+ years’ expertise in global strategic growth, franchise management, and F&B operations. With a track record of opening 1000+ outlets across 40+ countries for major brands like McDonald’s and Starbucks, he specializes in international market entry and hospitality development across the globe.

perfect environment for small-scale producers or restaurateurs to showcase their goods and connect with consumers seeking these unique offerings. They also offer exceptional presentation and access to outstanding craftsmanship.

Another factor contributing to the popularity of market halls is the growing interest in experiential consumption. In an era dominated by technology, market halls offer a tangible and multisensory encounter. The sights, sounds, and aromas of a

bustling market create an immersive experience that cannot be replicated online. Market halls have become vibrant social spaces, where people can indulge in communal dining experiences, meet local producers, and interact with fellow food enthusiasts.

Market halls have also become popular due to their role in promoting cultural exchange and diversity. They offer a taste of global flavours under one roof, showcasing different culinary traditions and fostering mutual understanding. This exposure to different food cultures broadens culinary horizons and adds to the overall experience.

The hospitality industry has seen both exceptional and subpar examples in market halls. Timeout Market, Manifesto, LaFelicita, Mercato Metropolitano, Boxpark, and IconSiam’s floating market are among the outstanding players in the market. The recently unveiled Al Mamlaka social dining hall in Riyadh, Saudi Arabia, has also joined the league of awe-inspiring experiences, highlighting the ability of certain establishments to deliver exceptional and unforgettable experiences within the hospitality industry.

The rise of food tourism has further fuelled the international development of market halls. Travelers are increasingly seeking authentic food experiences when visiting a new destination, and markets have become culinary landmarks attracting tourists looking to savour local flavours and learn about a region’s

AS MARKET HALLS CONTINUE TO GROW AND EVOLVE, THEIR SIGNIFICANCE IN THE GLOBAL FOOD LANDSCAPE WILL BECOME EVEN MORE PROMINENT.

With their newfound popularity, market halls have evolved to cater to the changing needs and demands of consumers. Many now incorporate trendy food stalls, fusion cuisine, and avantgarde dining concepts to ensure there is something for everyone. However, it is crucial to approach the planning and curation of market halls with care. Proper preparation and curation are necessary to create a compelling experience for visitors.

In conclusion, market halls have experienced a remarkable international resurgence in recent years, offering quality, authenticity, experiential consumption, cultural diversity, and appeal to food tourism. They provide a means for individuals to connect with their food sources, support local producers, and embark on culinary adventures. As market halls continue to grow and evolve, their significance in the global food landscape will become even more prominent. Proper planning and curation are essential to ensure the success of these vibrant spaces, which

MARKET MIX FEATURED

GROWING TREND WORLDWIDE

FRANCHISE SECTOR AND SERVICE

EXPORTS ACROSS BORDERS

The spirit of entrepreneurship is spreading across the world and turning into success stories in different geographies.

The franchise sector stands out as an important actor in this global journey, offering entrepreneurs the chance to start their own business while at the same time benefiting from the power of a brand. This risk-reducing business model is preferred by entrepreneurs around the world.

By 2024, the franchise sector is increasingly becoming a global phenomenon. Franchising gives operators the opportunity to start their own business by offering the recognition, business model and support services of a corporate brand. This model allows entrepreneurs to reduce risk when starting their own business and operate under a solid brand. Investors have the chance to reap the benefits of an established business model combined with the desire to start their own business.

Franchise, which is growing not only nationally but also internationally, brings together different cultures and geographies. Big brands gain a competitive advantage in the international market by preserving their local texture. This situation brings not only the trade of goods but also the export of services.

The added value created by the services sectors on the gross product is also much higher. In 2021, our services exports, which amounted to 61.4 billion dollars, had a share of 1.1% worldwide and ranked 24th. Our exports of services increased by 61% in 2021 compared to 2020 and the balance of services

PROF. DR. MUSTAFA AYDIN President

UFRAD Franchising

Derneği / Turkish Franchise Association

Born in 1956 in Trabzon, Prof. Dr. Mustafa Aydın pursued education at Cairo and Ankara Universities. He served in the Turkish Armed Forces before venturing into academia in 1995. Aydın founded BİL Holding and its subsidiaries, leading Istanbul Aydın University and Cyprus Science University, receiving numerous awards for his contributions to education and serving in various national and international organizations. Married with three children, Aydın is multilingual with 13 written works and continues to advance education through multiple platforms.

in the same period reached 31.8 billion dollars. In 2022, our international trade in services, which reached its historical peak with an export figure of 89.0 billion dollars with an increase of 45%, increased to 49.7 billion dollars in the balance of services and ranked 23rd in the world with a share of 1.3%.

In a digitalized world, training, consultancy and support services provided through online platforms reach consumers across borders. This export of services further strengthens the franchise system and contributes to the global recognition of brands.

Among the lessons to be learned from this success story for entrepreneurs are to analyze potential markets well,

“

FRANCHISING GIVES OPERATORS THE

OPPORTUNITY TO START THEIR OWN BUSINESS BY OFFERING THE RECOGNITION, BUSINESS MODEL AND SUPPORT SERVICES OF A CORPORATE BRAND.

understand local cultures and take advantage of operating under a strong brand. These dynamics in the global economy allow entrepreneurs to grow and write success stories with a perspective that transcends borders.

The support provided by the Ministry of Commerce for the international expansion of our brands is increasing day by day. With the momentum brought by these supports, we will see many more of our brands as active players in foreign markets in the coming years.

As brands, it is extremely important to gain more knowledge and experience by taking part under the roof of experienced and supportive non-governmental organizations such as UFRAD.

We firmly believe that we will reach our service export targets together with the long-term global branding strategy that we will determine together, in addition to the government supports and the overseas experiences and experiences that our brands have gained over the years.

MAKING ENTERTAINMENT THE DESTINATION

In a world where the digital echo can sometimes drown out the warmth of human connection, the retail industry stands at a crossroads. The rapid evolution of consumer expectations, fueled by the endless feeds of online entertainment, has cast a shadow over the once-thriving communal hubs of our malls. It’s a challenge that resonates deeply with me, not just as the CEO of Pop Up Global but as someone who has lived on the pulse of audiences around the world.

My journey into the heart of live entertainment began on the stages of cruise ships, where every performance was delivered to an audience from every walk of life. It was here, amidst the waves and under the spotlight, that I discovered the irreplaceable impact of live connection. This magic, this ability to touch hearts and leave an indelible mark on memories, became my compass as I navigated my way from performer to entrepreneur.

When I founded Pop Up Global, it was with a vision to weave this magic into the fabric of retail—a sector I saw yearning for revival. Our first venture, transforming the UK’s grand Trafford Centre into a stage for brands like MAC, Bobbi Brown, and Charlotte Tilbury, was a leap of faith. It was also a testament to the power of live entertainment. We didn’t just increase footfall, extend dwell time and improve customer engagement; we reignited the spark of excitement and anticipation that comes from experiencing something truly extraordinary, together.

AMY MORRIS CEO & Founder Pop Up Global

A visionary leader in entertainment with 14 years of expertise. She prioritizes performer well-being, sets industry standards, and delivers exceptional entertainment solutions globally. Amy’s impact spans the UK and UAE, showcasing her talent for transformative entertainment experiences on land and at sea.

The move into the Middle East was a coming together of cultures and creativity, a partnership with Majid Al Futtaim that marked our commitment to transcending borders and expectations. Together, we embarked on a journey to redefine retail spaces not just as places of transaction, but as arenas of unforgettable experience. This partnership was the catalyst for our full-time expansion into the region and our fast-growing presence within the retail sector is proving to be hugely impactful.

At Pop Up Global, we believe in the transformative power of live entertainment to bridge the gap between brands and the hearts of their customers. Our creations are not mere performances; they are emotive conversations, curated with a deep understanding of the stories our clients wish to tell. This is our art, our passion, and our promise—to turn every space into a stage, every brand into a story, and every visit into a cherished memory. Every live moment created and delivered must be developed with these stories in mind as without this, there really is no meaning.

As I reflect on our journey and the impact of our work, I am reminded that the true measure of success lies in the smiles, the applause, and the shared moments of the magic - many of which are shared across social media for all to see. These are the metrics that matter, the testimonials to the enduring allure of live entertainment.

As we look towards the future, it’s evident that entertainment will play a pivotal role in the retail industry. In a world increasingly leaning towards digital consumption, the unique draw of live entertainment offers a compelling reason for consumers to visit and revisit malls.

It’s an experience that cannot be replicated online, underscoring the importance of integrating well-executed live entertainment into the DNA of

My journey from the stages of cruise ships to revolutionizing retail experiences in malls across the globe underscores a simple truth: the essence of retail success lies in creating memorable experiences. As the founder of Pop Up Global, I am committed to championing this cause, ensuring that live entertainment remains at the forefront of the retail evolution. The future of retail is not just about transactions; it’s about creating spaces that offer unparalleled experiences, where entertainment and emotion unite to keep customers coming back for more. It is about Making Entertainment The Destination.

From the Frontlines

ANOOP GOPAL

BUSINESS HEAD, OASIS MALLS Landmark Group

“Work hard and be good to people and enjoy life.”

BRIEFLY INTRODUCE YOURSELF AND YOUR ROLE. WHAT INITIALLY DREW YOU TO RETAIL?

I hold an MBA from Ascencia Business School, with 18+ years in the Middle East and India’s retail and shopping mall industry. Currently, I serve as the Business Head for Oasis Malls under Landmark Group, overseeing 8 GCC malls. My entry into retail was fortuitous, sparked by an invitation from LuLu Group’s chairman, igniting a lasting passion.

TELL US ABOUT A SIGNIFICANT TURNING POINT IN YOUR LIFE OR CAREER.

Transitioning from mall operations to retail development marked my career’s pivotal moment. Leading real estate at Americana, I oversaw the expansion of brands like KFC, Pizza Hut, and more across ten countries, while managing a portfolio of 2,000 restaurants, offering invaluable experience and growth.

HOW HAVE YOU SEEN THE RETAIL LANDSCAPE CHANGE THROUGHOUT YOUR CAREER?

Dubai and the UAE serve as a global case study in mall evolution, from Burjuman to the innovative Dubai Hills Mall. Malls have transformed into lifestyle hubs, integrating co-working spaces, universities, and unique concepts like food halls. Additionally, the UAE’s retail landscape boasts 90% of global brands, propelling Dubai into the top five destinations for retail investment. Notably, this evolution has nurtured the growth of homegrown brands like MAX, Centrepoint, LULU, and Bateel, elevating them to international acclaim.

WHAT VALUES GUIDE YOUR SUCCESS? SHARE AN EXAMPLE OF HOW THESE PRINCIPLES TRANSLATE INTO YOUR DECISION-MAKING BOTH IN BUSINESS AND IN LIFE.

I attribute my success to a positive attitude and hard work. Upon assuming leadership at Oasis Mall Dubai in Dec 2022 with 72% occupancy, I instilled positivity and worked diligently, increasing occupancy to 95%. This mindset translated to my team, fostering support for our vision of a thriving community mall.

DID A MENTOR OR EXPERIENCE SHAPE YOUR LEADERSHIP STYLE?

Mr. Prakash Balakrishnan, my former boss and General Manager at Line Investments & Property LLC, was my esteemed mentor. I gleaned invaluable insights into retail and mall management from him, for which I am deeply grateful. Sadly, he passed away a year ago.

HOW DO YOU MAINTAIN WORK-LIFE BALANCE AND FIND INSPIRATION OUTSIDE OF WORK? WHAT POSITIVE IMPACT DO YOU HOPE TO HAVE ON THE INDUSTRY’S FUTURE?

Balancing work and personal life is crucial. I’ve made it a priority to disconnect from work emails on my phone after work, ensuring quality time with family and personal well-being. Additionally, as retail and malls evolve rapidly, professionals must remain adaptable. The next decade presents immense opportunities, especially in the Middle East. With Dubai’s growth mirroring Singapore’s, the region will witness a surge in retail and mall developments, alongside the global expansion of homegrown brands, marking a pivotal moment for industry professionals.

From the Frontlines

AYMAN AL BURTI CHIEF EXECUTIVE OFFICER Azad Properties

“Ultimately, the pursuit of perfection is not merely about achieving flawless outcomes, but rather about cultivating a mindset of integrity, passion, and conscientiousness in everything we do.”

BRIEFLY INTRODUCE YOURSELF AND YOUR ROLE. WHAT INITIALLY DREW YOU TO RETAIL?

With over two decades of experience in real estate and retail, I’ve navigated various roles from strategy to operations. As CEO of Azad Properties, I lead innovative projects to maximize our portfolio’s potential. My journey includes leadership at AWJ Holding and Anan Holding before joining Azad in 2017. Currently, I serve on the board and NRC of Jeddah Central Markets Company. Growing up in a real estate and retail-oriented family ignited my passion for this industry, shaping my career trajectory with dedication and drive.

TELL US ABOUT A SIGNIFICANT TURNING POINT IN YOUR LIFE OR CAREER?

After university, I initially ventured into the banking industry, but my shift to real estate was transformative. Immersed in its dynamic world, I found a passion for retail and property development. This fueled my commitment to advancing in these realms, leading to a journey of continuous growth and excellence in an industry that deeply resonates with me.

HOW HAVE YOU SEEN THE RETAIL LANDSCAPE CHANGE THROUGHOUT YOUR CAREER?

The transition not only changed my career path but also transformed development strategies. With the rise of e-commerce and changing consumer behaviors, retail and real estate evolved significantly. This required innovative and adaptable development approaches to meet digital-age consumer needs. Embracing these changes, I focused on pioneering projects integrating traditional retail with online platforms, driving forward-thinking solutions in a dynamic market.

WHAT VALUES GUIDE YOUR SUCCESS? SHARE AN EXAMPLE OF HOW THESE PRINCIPLES TRANSLATE INTO YOUR DECISION-MAKING BOTH IN BUSINESS AND IN LIFE?

My work thrives on core values: ownership, focus, integrity, and passion. They guide every aspect, from planning to execution, ensuring clear objectives and strategies. Ownership means taking full responsibility, driving projects with accountability. Passion infuses enthusiasm, fostering innovation and excellence. Integrity upholds honesty and ethics, earning trust and respect.

DID A MENTOR OR EXPERIENCE SHAPE YOUR LEADERSHIP STYLE?

Mentoring and networking with experts have shaped my journey, aiding in overcoming obstacles. Through mentors, I gained insights and guidance, navigating challenges with confidence. Engaging with my network provided knowledge and resources, fostering collaborative problem-solving. Access to specialized insights allowed for informed and strategic approaches to complex issues.

HOW DO YOU MAINTAIN WORK-LIFE BALANCE AND FIND INSPIRATION OUTSIDE OF WORK? WHAT POSITIVE IMPACT DO YOU HOPE TO HAVE ON THE INDUSTRY’S FUTURE?

Adopting “work hard, play hard” blends dedication with a zest for exploration. Traveling inspires me, especially observing global retail environments. This exposure fuels creativity, informing strategies for customer satisfaction. Enjoyment in work fosters innovation; it’s crucial for enhancing customer experiences.

From the Frontlines

NADA GHAOUI

CO-FOUNDER

Fikra Consultants

“My philosophy in life centres around the belief that life is a continuous learning journey, defined by a series of experiences where attention to detail is paramount.”

BRIEFLY INTRODUCE YOURSELF AND YOUR ROLE. WHAT INITIALLY DREW YOU TO RETAIL?

My name is Nada Ghaoui Abousaab and I have been immersed in the vibrant world of retail for the last 17 years and counting. With over 28 years of Marketing experience, my passion for creating meaningful partnerships drives my daily endeavours. What drew me to retail initially was its dynamic nature— the constant evolution, the blend of creativity and strategy, and most importantly, the opportunity to connect with people on a profound level.

TELL US ABOUT A SIGNIFICANT TURNING POINT IN YOUR LIFE OR CAREER?

A significant turning point in my life and career was witnessing the impact of my leadership on individuals within my team. Seeing them grow and shine under my guidance, and instilling in them the vision to think big and embrace collaboration, reshaped my perspective entirely. It reinforced my belief in the power of togetherness and the potential of each person as an asset.

HOW HAVE YOU SEEN THE RETAIL LANDSCAPE CHANGE THROUGHOUT YOUR CAREER?

Throughout my career, I’ve witnessed the retail landscape undergo remarkable transformations, particularly driven by technological advancements and shifting consumer behaviors. From the days of manual processes and traditional strategies to the current era dominated by AI and VR, the retail industry has embraced innovation while holding onto the enduring principles of partnership and trust.

WHAT VALUES GUIDE YOUR SUCCESS? SHARE AN EXAMPLE OF HOW THESE PRINCIPLES TRANSLATE INTO YOUR DECISIONMAKING BOTH IN BUSINESS AND IN LIFE?

Courage, honesty, transparency, and a belief in the power of togetherness are the values that underpin my success. These principles manifest in my decision-making by fostering an environment of trust and collaboration, both in business and in life. For instance, when faced with tough decisions, I prioritize transparency and open communication, ensuring that all stakeholders are informed and involved.

DID A MENTOR OR EXPERIENCE SHAPE YOUR LEADERSHIP STYLE?

I’ve been fortunate to have had mentors who have shaped my leadership style, but equally important has been the influence of my team members who served as mentors themselves. This reciprocal relationship has taught me the value of continuous learning and humility in leadership.

HOW DO YOU MAINTAIN WORK-LIFE BALANCE AND FIND INSPIRATION OUTSIDE OF WORK? WHAT POSITIVE IMPACT DO YOU HOPE TO HAVE ON THE INDUSTRY’S FUTURE?

I don’t view work and life as separate entities; rather, I believe in giving my all to everything I do. My family is always a priority, but they are also an integral part of my life and inspiration. In terms of the industry’s future, I aspire to leave a positive impact by fostering a culture of collaboration, innovation, and trust, where partnerships thrive, and stakeholders’ flourish.

From the Frontlines

PHIL

McARTHUR FOUNDER AND CHAIRMAN McARTHUR Retail Development Specialists

“Approach everyday with a positive and balanced mindset. I also firmly believe that strong character, courage and conviction will lead to many accomplishments.”

BRIEFLY INTRODUCE YOURSELF AND YOUR ROLE. WHAT INITIALLY DREW YOU TO RETAIL?

I am the Founder and Chairman of McARTHUR Retail Development Specialists. My role is to assist our clients with planning, developing, leasing and operating retail real estate assets. I work with our in-house team and external advisors to develop planning, feasibility, and leasing strategies for new projects and to rescue older malls. As a teenager, I had a strong interest in music and marketing. In 1981 I was introduced to the idea that I could transition my skills into the shopping centre industry. In the same year, I started as the Operations Manager of Burlington Mall, a 700,000-sf regional mall in Ontario Canada. I learned every aspect of the retail real estate business including Operations, Budgets, Collections, Marketing, Property Repairs, Sales Performance and Leasing. It was truly a university of shopping centres. I was hooked and the rest is history.

TELL US ABOUT A SIGNIFICANT TURNING POINT IN YOUR LIFE OR CAREER?

After spending 1981-1995 with various developers in Canada, I had the opportunity in 1996 to become the Vice President and General Manager of Deira City Centre. I will always be appreciative of Mr. Majid Al Futtaim’s leadership and guidance. The move to Dubai had an extremely positive impact on our family as we gained new knowledge about different cultures and traditions. We also had the unique opportunity to live in Cairo and New Delhi.

HOW HAVE YOU SEEN THE RETAIL LANDSCAPE CHANGE THROUGHOUT YOUR CAREER?

Most amazing is the rapid expansion of high-quality retail mixed-use projects in so many emerging markets. Also quite incredible is the high standards that have been achieved by the leading developments like the Dubai Mall, Mall of the Emirates, as well as many projects throughout the MENA region.

WHAT VALUES GUIDE YOUR SUCCESS? SHARE AN EXAMPLE OF HOW THESE PRINCIPLES TRANSLATE INTO YOUR DECISIONMAKING BOTH IN BUSINESS AND IN LIFE?

1) Do what you know. Being a specialist is an important attribute in business.

2)Never give up. As an entrepreneur, we must constantly persist. 3) Failure is part of success. Learn from your experiences and come out stronger.

4) Be curious and keep learning. To be relevant it is important to understand and embrace new technologies and ideas.

DID A MENTOR OR EXPERIENCE SHAPE YOUR LEADERSHIP STYLE?

As a young musician, I learned a great deal about teamwork, harmony, performance, sharing, contributing and individual responsibility. In business, I have had so many excellent bosses and colleagues who have all contributed to my knowledge and understanding of the retail industry.

HOW DO YOU MAINTAIN WORK-LIFE BALANCE AND FIND INSPIRATION OUTSIDE OF WORK? WHAT POSITIVE IMPACT DO YOU HOPE TO HAVE ON THE INDUSTRY’S FUTURE?

I have focused on recruiting a great team at McARTHUR Retail Development Specialists. Knowing that the team is fully committed provides me with a level of comfort and balance. My escape from the daily work routine is a round of golf at the Dubai Creek. I’m proud to have worked with industry professionals who started with me and are now leaders in retail development.

From the Frontlines

LARA KHARRAT

BUSINESS DEVELOPMENT MANAGER –MIDDLE EAST & AFRICA

Sensormatic Solutions

“To live authentically with purpose, embrace challenges as opportunities and pursue aspirations with passion and resilience while maintaining a positive outlook and finding joy in the journey.”

BRIEFLY INTRODUCE YOURSELF AND YOUR ROLE. WHAT INITIALLY DREW YOU TO RETAIL?

I’m Business Development Manager for Middle East and Africa at Sensormatic Solutions, and my world revolves around the dynamic fusion of business, marketing, and retail. I found my professional calling after diving into the vibrant retail sector. I thrive on the energy and constant evolution of the industry. Despite the challenges that come with being one of the youngest in my network, I’m fueled by my passion for retail, constantly seeking new opportunities for growth and innovation.

TELL US ABOUT A SIGNIFICANT TURNING POINT IN YOUR LIFE OR CAREER?

A pivotal moment occurred when I transitioned from the construction and design industry to retail. It was a confident move that allowed me to pursue my passion and leverage my skills in a new and dynamic environment. This shift not only opened doors to exciting opportunities but also ignited a deeper sense of purpose and fulfillment in my professional journey.

HOW HAVE YOU SEEN THE RETAIL LANDSCAPE CHANGE THROUGHOUT YOUR CAREER?

In just a few years in the industry, I’ve witnessed significant transformations in the retail landscape, driven by technological advancements and evolving consumer preferences. From the rise of e-commerce and omnichannel strategies to the increasing emphasis on data-driven insights and personalized experiences, retailers have had to adapt and innovate to stay ahead in a fiercely competitive market.

WHAT VALUES GUIDE YOUR SUCCESS? SHARE AN EXAMPLE OF HOW THESE PRINCIPLES TRANSLATE INTO YOUR DECISIONMAKING BOTH IN BUSINESS AND IN LIFE?

Integrity, empathy, and a client-centric approach are the cornerstones of my success. Whether in business or in life, I prioritize building genuine relationships based on trust and mutual respect. I aim to provide value and foster positive outcomes for all parties involved.

DID A MENTOR OR EXPERIENCE SHAPE YOUR LEADERSHIP STYLE?

My leadership style has been shaped by a combination of mentorship and personal experiences. I take pride in leading by example and empowering others through collaboration and shared goals. As a woman in a male-dominated industry in the Middle East, I strive to challenge stereotypes and inspire positive change by advocating for diversity, inclusivity, and equal opportunities for all.

HOW DO YOU MAINTAIN WORK-LIFE BALANCE AND FIND INSPIRATION OUTSIDE OF WORK? WHAT POSITIVE IMPACT DO YOU HOPE TO HAVE ON THE INDUSTRY’S FUTURE?

Balancing work and life can be challenging, especially with a packed travel schedule and the workload and responsibilities our market demands. However, I find inspiration and rejuvenation outside of work through travels, spending time with loved ones, and pursuing my passions. Looking ahead, my goal is to continue making a positive impact on the future of the retail industry by driving innovation, fostering meaningful connections, and championing values that resonate with both clients and colleagues alike.

From the Frontlines

DAVID

MACADAM CHIEF EXECUTIVE OFFICER MECS+R

“Keep busy, help people, and engage in positive outcomes. Always look for the good because the good is always there.”

BRIEFLY INTRODUCE YOURSELF AND YOUR ROLE. WHAT INITIALLY DREW YOU TO RETAIL?

David Macadam CEO of the Middle East Council of Shopping Centres and Retailers. Have been passionate about the retail industry and shopping centres for 40+ years. Retail is a very complex business which is perpetually in “change mode”. Understanding the retail industry while keeping abreast of the constant change has made an exciting and rewarding career for me.

TELL US ABOUT A SIGNIFICANT TURNING POINT IN YOUR LIFE OR CAREER?

In 1982 being fired from my employment as retail leasing manager in the Vancouver retail market was a seminal moment for me. Unlike the executive team, my intuition told me that my leasing performance was above and beyond the current market conditions. With courage and conviction, establishing my own business in the retail leasing industry in Vancouver was the result of being fired. A successful career history and lifetime satisfaction have confirmed to me that my decision those many years ago was correct.

HOW HAVE YOU SEEN THE RETAIL LANDSCAPE CHANGE THROUGHOUT YOUR CAREER?

The retail landscape has changed without exception multiple times per year over the past 42 years. From the early 1980’s in Vancouver through to the MENA region and beyond, retail has become infinitely more sophisticated and complex today. Successful retail however remains constant in how the customer is made to feel when purchasing the goods, products, or service. When the customer is satisfied and feels great about his or her purchase is the best and most successful outcome then and now.

WHAT VALUES GUIDE YOUR SUCCESS? SHARE AN EXAMPLE OF HOW THESE PRINCIPLES TRANSLATE INTO YOUR DECISIONMAKING BOTH IN BUSINESS AND IN LIFE?

Building solid relationships and establishing trust is the basis of my life in business and socially. Everyone knows more than me and is smarter than me. With this premise my life has soared. With the trust given to teams I’ve led has propelled me to heights unobtainable operating as a ‘one man band’ and infinitely quicker.

DID A MENTOR OR EXPERIENCE SHAPE YOUR LEADERSHIP STYLE?

Through my career many mentors have shaped my life. From early days in my career working in mundane roles to senior executive roles, mentors have provided me fabulous role models. My intention is to always provide mentorship to anyone seeking improvement to play it forward.

HOW DO YOU MAINTAIN WORK-LIFE BALANCE AND FIND INSPIRATION OUTSIDE OF WORK? WHAT POSITIVE IMPACT DO YOU HOPE TO HAVE ON THE INDUSTRY’S FUTURE?

My mindset is always how to help people. Keeping busy, engaged, and helpful provides a never-ending level of inspiration for me. Helping people is my work-life balance. My wish is that even one person will have benefitted by their association with me.

One Za’abeel achieves the Guinness World Records™ title for the ‘Longest Cantilevered Building’ in the world

One Za’abeel, the iconic landmark developed by ICD (Investment Corporation of Dubai), proudly announces it has achieved the GUINNESS WORLD RECORDSTM title for the ‘Longest Cantilevered Building’ in the world with its panoramic sky concourse, The Link. The achievement was cemented on 1st March 2024, making One Za’abeel the latest development to add a unique and imaginative first to Dubai’s long list of record-breaking buildings.

The Link stretches an impressive 230 metres in length, dissecting One Za’abeel’s skyscrapers 100 metres above the ground, while its record-breaking cantilever extends 67.277 metres beyond the development’s main tower. A feat of engineering, construction and assembly of The Link was completed

in two phases over a total of 16 days without disruption to the 4 lanes of live traffic below the operation. Phase one of The Link lift marked one of the heaviest lifts in the region, where the steel structure weighing over 8,500 tonnes was lifted into place over 12 days. Over 110 special jacks and heavy-duty strand jacks were used, calling for a concerted effort by a team of global experts in the fields of construction, engineering, and contracting. Phase two saw the 900+ ton cantilevered structure lifted into place over four days.

Floating above the city, The Link’s monumental 230 metres is home to 8 Michelin-inspired restaurants, the UAE’s longest suspended infinity pool, and a chic destination bar. Offering 360º views of the Emirate of Dubai, The Link is quickly solidifying itself as a mustvisit destination in Dubai where visitors can indulge in luxurious fine dining experiences and magnificent views.

Issam Galadari, Director of One Za’abeel Holdings, says of the achievement: “Over the past few months, we’ve proudly watched as One Za’abeel fills with life and activity. Our endeavours to deliver One Za’abeel with innovation, excellence, and ambition have come to fruition. Achieving the

Jacquemus Opens First Store In Middle East

French label Jacquemus is keen to strengthen its international presence, and has now inaugurated a boutique in the Middle East. After opening in Paris and South Korea, the new store is the brand’s third.

Jacquemus’ new, 280-square-metre store is located in the Dubai Mall in the city of Dubai, United Arab Emirates, and is steeped in “the essence of Provence.” The store has been designed by architects Ellen van Loon and Giulio Margheri.

The interiors are characterised by natural textures and a beige and white palette. They feature wooden furniture, a travertine floor and a brick façade. To decorate the walls of this warm, minimalist space, Jacquemus has picked works of art and design objects,

Guinness World Records™ title for the ‘Longest Cantilevered Building’ serves as a badge of recognition that we have successfully delivered on the promises we set for the development from the very beginning.

Shaddy Gaad, Senior Marketing Manager at Guinness World Records™, added: “Dubai has transformed into a record-breaking hub, and thereby serving as a model in overcoming limitations and achieving the seemingly impossible. The Link at One Za’abeel showcases this relentless determination and innovative vision that defines the Emirate. As we celebrate this remarkable achievement today, we look forward to the future filled with boundless opportunities that Dubai has to offer.”

Source: (EMIRATES 24/7 - https://bit.ly/3UfX0ko)

such as the Croisillon chair by designer Jean Royère, and pottery from the town of Anduze, France, created by family workshop Le Chêne Vert.

The store commercialises Jacquemus’ latest men’s and women’s readyto-wear collections, as well as its

accessories line, including handbags and shoes.

Jacquemus established an online retail presence in the region last December, when it made its e-shop accessible to United Arab Emirates customers.

Source: FashionNetwork (https://bit.ly/49IjqAb)

GMG and VF Corporation to Expand Across MENA and SEA

GMG, a global retail conglomerate, has expanded its well-established partnership with VF Corporation, a global leader in branded lifestyle apparel, footwear and accessories, across MENA and South East Asia (SEA).

Building on more than 12 years of partnership, as part of the distributorship & retail development agreement, GMG will expand the presence of VF’s brands in the region via a growing network of new monobrand partner stores across the Middle East and North Africa ( MENA) and SEA markets over the next five years to offer the VF’s brand experience to a broader consumer base.

Currently, GMG operates 90 VF’s mono-brand stores in MENA and SEA. Overall, GMG aims to roll out over 300 stores during the next five years. GMG will introduce VF’s brands across key Southeast Asian markets, open monobrand stores, and drive E-commerce business for selected VF brands.

Renowned brands

In the MENA region, VF’s renowned brands, including Vans, The North Face, and Timberland, will expand their monobrand footprint, primarily focusing on the UAE and KSA. VF’s brands will also expand their presence in North Africa, strategically focusing on Egypt to reinforce the brands’ presence in this market. The agreement will oversee VF’s The North Face brand entering the North African market for the first time.

Mohammad A. Baker, Deputy Chairman and CEO of GMG, said: “Continuing our strategic expansion and adding new markets across SEA signifies a pivotal chapter in our successful long-standing partnership with VF Corporation. Aligned with our shared vision, commitment to exceptional consumer experiences, and the

empowerment of active lifestyles, we anticipate continued achievements on this transformative journey together.”

The global retail market was valued at $28.3 billion in 2023 and is expected to grow to $37.7 billion by 2027. The Mena region is experiencing steady growth due to the growing population, strong spending power and a stronger affinity to high-quality international brands. On the other hand, the retail industry in SEA is poised to enter a new phase of growth, driven by the rise in disposable income, developing infrastructure, favorable business environments, and an increase in tourism.

Source: Trade Arabia (https://bit.ly/3xRKCPJ)

Al Hamra Launches Premium Waterfront Project In Its Flagship Al Hamra Village Community

Al Hamra, the leading lifestyle developer and real estate investment company in Ras Al Khaimah, has announced the development of Al Hamra Waterfront, a waterfront residential project within its flagship and award-winning residential community of Al Hamra Village. Located along the shores of the Royal Yacht Club of Ras Al Khaimah, the project comprises 622 apartments across five 18-floor buildings and 19 townhouses encompassing four clusters, with each residence featuring sea view and a balcony.

With a starting price of AED 1.1M, Al Hamra Waterfront consists of studios, one-, two-, and three-bedroom apartments and four-bedroom, duplex

townhouses. The project comes with a plethora of amenities, including a promenade, coworking space, entertainment room, swimming pools, jogging track, padel tennis courts, gym, parks, kids play area, BBQ area, pet park and grooming area.

Benoy Kurien, Group CEO of Al Hamra, said: “The launch of Al Hamra Waterfront perfectly aligns with Al Hamra’s five-year growth strategy and underscores our commitment to delivering elevated lifestyle experiences to Ras Al Khaimah amidst ever-increasing demand for waterfront living in the Emirate. Embracing a contemporary design approach, this project capitalises on its location in Al Hamra Village, a community already sought after by individuals worldwide. We anticipate that Al Hamra Waterfront will set a new standard for modern waterfront living in Ras Al Khaimah.”

Source: Zawya (Read More: https://bit.ly/3wa1aSM)

Spinneys Kicks Off IPO To Raise Dh1.375 Billion

The offer price for the initial public offering of Spinneys’ franchisee in the UAE and Oman has been set between Dh1.42 and Dh1.53 per share as the subscription opened on Tuesday.

The supermarket chain, which operates 75 premium grocery retail supermarkets under the ‘Spinneys’, ‘Waitrose’ and ‘Al Fair’ brands in the UAE and Oman, seeks to raise as much as Dh1.375 billion from the sale of 900 million shares or 25 per cent stake. It also plans to expand into Saudi Arabia this year and open stores in Riyadh and Jeddah.

The IPO subscription period is expected to close on Monday, April 29, 2024 for UAE retail investors and on Tuesday, April 30, 2024 for professional investors.

The company said the final offer price will be determined through a book building process and is expected to be announced on Wednesday, May 1, 2024. Admission of shares to trading on DFM is expected to take place on Thursday, May 9, 2024.

The price range implies that the retail operator’s market capitalisation at time of listing is between Dh 5.11 billion and

Dh5.51 billion. A total of 900 million shares, each with a nominal value of Dh0.01 will be made available in the offering. All shares to be offered are existing shares held by the selling shareholder, Al Seer Group, who reserves the right to amend the size of the offering at any time prior to the end of the subscription period at its sole discretion, subject to applicable laws and the approval of the SCA, a statement from Spinneys said.

On Tuesday, Spinneys and the selling shareholder entered into cornerstone investor agreements with Emirates International Investment Company (EIIC), Templeton Asset Management and Franklin Templeton Investments as investment managers on behalf of

certain funds and accounts, will be cornerstone investors in the IPO with a total commitment of Dh 275 million, the statement said.

“We have seen very strong interest in our IPO since announcing our intention to float, and we are delighted to be opening subscriptions to investors in the UAE and international markets. We believe this is a truly unique offering, a rare private sector listing for the local market and an opportunity for investors to participate in the story of a much-loved household name that is committed to fresh products and high standards of customer service,” said Sunil Kumar, CEO of Spinneys.

Source: Khaleej Times (Read More… https://bit.ly/4dbHX3T)

Cegid Launches its Point of Delivery to Serve the Middle East Market

Cegid, a European leader in cloud management solutions for professionals in the Finance, Human Resources, Accountancy, Retail and Entrepreneurship sectors, is to launch a new Point of Delivery (PoD) in Dubai for retailers based in the Middle East.

Cegid is strategically extending its global footprint by investing in the Middle East—a move that not only underscores its commitment but also positions the company as an industry pioneer in the region. By situating its newest PoD in Dubai, Cegid is poised to play a significant role in the fashion and luxury market of the Middle East, which is projected to flourish, reaching an impressive €30-€35 billion as per insights by the Boston Consulting Group (BCG). Cegid’s investment in the region’s

infrastructure is a testament to its confidence in the market evolution and its dedication to not just meeting but exceeding the needs and expectations of its customers.

Cegid customers operating across the Middle East, including Clarins, as well as leading regional retailers that include

Abu Issa, Ahmed Seddiqi & Son, Al Malki, L’azurde and Asia Jewellers are set to benefit from this strategic investment.

The PoD will help customers comply with local laws and regulations concerning data privacy and localisation across the Middle East. It will also future-proof against upcoming ‘Executive Regulations’ which are expected to add further layers to the UAE’s consumer rights protection in e-commerce transactions and tougher consumer data protection offering guarantees on how and where customer data can be used.

Source: Zawya (Read More…https://bit.ly/3W2Vc0s)

Roshn Group Launches ALMANAR, its First Integrated Community in Makkah

The first phase of ALMANAR, the release said, will provide 4,149 residential units that will house over 17,000 people on a footprint of 2.5 million square meters

ROSHN Group has launched ALMANAR, its fifth integrated mixeduse community and its first venture in Makkah, the group said in a press release.

The first phase of ALMANAR, the release said, will provide 4,149 residential units that will house over 17,000 people on a footprint of 2.5 million square meters.

ALMANAR is located at Makkah’s western gate, between the old and new expressways linking the city to Jeddah, 20 minutes from the Holy Mosque and under an hour from King Abdulaziz Airport in Jeddah.

The first phase will feature a wide range of amenities, including a regional mall supplemented by eight neighbourhood commercial centres, a business park that will boost the city’s economic development and several mosques.

Diriyah Company

Unveils Zallal: A New Mixed-Use Development In Bujairi District

D iriyah Company has announced on 21 April the launch of Zallal, its premier mixed-use commercial office and retail development slated to open in early 2025 in the Bujairi District of Riyadh.

The project will feature two low-rise office buildings and twelve retail and food & beverage outlets, encompassing over 14,000 square meters of leasable space designed to accommodate around 500 employees.

Zallal is strategically positioned

ROSHN offers a variety of residential options in ALMANAR, including 3- to 5-bedroom townhouses, duplexes, and villas. The architectural design of ALMANAR draws inspiration from the heritage of the Western Province; it features intricate details, like elliptical and geometric patterns on the facades.

The seamless blend of history and modernity creates a harmonious connection between “Makkah’s unparalleled heritage and the limitless potential of its future”.

According to the release, ALMANAR prioritizes sustainability and natural

beauty. It includes carefully designed green and open spaces, covering 12% of the community’s total footprint, and providing comfortable areas for relaxation.

ROSHN developments promote community well-being by offering shaded walkways for walking, cycling, and sports activities, making it easier for residents to access amenities conveniently located throughout the area.

Source: Zawya (Read More..https://bit.ly/3UmALJo)

adjacent to the bustling Bujairi Terrace and near landmarks such as Diriyah Art Futures and the upcoming Bab Samhan Hotel. This location is expected to attract significant foot traffic, benefiting tenants and visitors alike.

The development is well into its construction phase, with a positive reception from potential tenants already being reported.

Advanced leasing negotiations are ongoing, highlighting the strong commercial interest in the project. The

new development promises to enhance the vibrancy of the area, with its design incorporating elements of traditional Najdi architecture.

It will also offer a 1,400-space underground parking facility, ensuring accessibility and convenience for visitors and workers. Diriyah Company aims to position Zallal as a key player in the ongoing development of Diriyah, transforming it into a hub for culture, entertainment, education, and the arts.

Source: Zawya (https://bit.ly/3waCiu8)

Cenomi Retail Appoints Deloitte As Advisor For Aleph Sell-Off

Cenomi Retail, Saudi Arabia’s pioneering retail brand partner, has announced the appointment of Deloitte to manage the forthcoming sale of its Aleph brand.

This appointment is a crucial step in the execution of the brand divestment program previously announced by Cenomi Retail. Currently Aleph has 19 stores with a 20th to open in UWalk Jeddah in June 2024 and it is the largest Apple mono-brand partner in the kingdom. As an Apple premium partner, Aleph provides access to the latest Apple hardware and software solutions, 3rd party offering and after sales support.

Cenomi Retail recently announced the sale of a further 18 brands which are in addition to the previously announced 21 brands as part of its turnaround strategy. The expectation is that these brand sales, including the sale of Aleph will close during 2024.

Managing end-to-end

Deloitte, a world-class management advisory firm will manage the process end-to-end. They have been appointed

to work with Cenomi Retail to market the business, manage the bid process from interested parties, support in due diligence and lead the closing of the transaction once awarded.

The ongoing brand divestment programme is a key pillar in improving the financial performance of the business whilst protecting topline sales. This is a significant milestone for the company in undertaking an aggressive program of brand divestment, store closures and operational efficiencies to simplify the portfolio, improve profitability and clearly deliver on the

turnaround strategy.

All proceeds from the sale of Aleph will be utilised to continue the deleveraging of the company.

Salim Fakhouri, Acting Chief Executive Officer, commented: “As a cornerstone of our turnaround strategy, the appointment of Deloitte is a major milestone in executing the brand divestment of Aleph. As international consultants, Deloitte will be working closely with the Cenomi Retail Executive Management team over the coming months.

Source: Trade Arabia (Read More…https://bit.ly/3UmnDUM)

Turkish Group Arçelik Acquires Whirlpool’s Mena Operations

Arçelik, a Turkish multinational household appliances manufacturer, has announced that it has acquired the full ownership of Whirlpool’s Morocco and Middle East and North Africa (Mena) operations, thus marking a significant milestone in its growth strategy.

The parent company of consumer brand Beko, Arçelik said through this transaction, it now owns Whirlpool’s UAE and Morocco entities and manages Whirlpool’s MDA business operations in the MENA region.

With the integration of Whirlpool’s MENA business, Arçelik achieves another significant milestone in its transformative growth journey, reaffirming its standing as a leading global provider of sustainable home appliances, as part of

its commitment to growth and delivering market-leading products and services to consumers and partners.

By leveraging Arçelik’s deep industry expertise in combination with Whirlpool’s regional infrastructure and market presence, Arçelik said it will work to solidify and expand its footprint in this high-growth region.

The brands Arçelik will offer in the MENA market through this acquisition are Whirlpool, Ariston, Indesit, Hotpoint, Hotpoint-Ariston, Bauknecht and Ignis, while Whirlpool’s Insinkerator, KitchenAid, Maytag business are excluded, and Whirlpool and Ariston are limited to licensee in the certain jurisdiction, it stated.

Source: Trade Arabia (https://bit.ly/3vYdKnY)

EazyPay Among Top 50 Fintech Companies in Middle East: Forbes

The Forbes Middle East Fintech 50 is a highly anticipated annual list that recognizes the most disruptive and influential players transforming the financial technology sector in the Middle East. With 23 entries dedicated to payment gateway firms, EazyPay secured the No. 19 spot, solidifying its position as a distinguished leader in the realm of online payment solutions.

Established in 2016, EazyPay’s innovative technology is revolutionizing digital transactions, establishing it as a leader within the MENA fintech landscape. The company’s success hinges on a comprehensive suite of payment solutions catering to the specific needs of both established businesses and agile startups. This adaptability ensures seamless integration and fosters a thriving digital ecosystem. EazyPay’s impact extends beyond facilitating transactions, establishing themselves as strong advocates for financial inclusion. By creating accessible payment solutions, EazyPay empowers previously unbanked or underbanked individuals to

participate in the digital economy. This not only broadens the customer base for businesses but also fosters a more equitable financial landscape in Bahrain.

Nayef Tawfeeq Al-Alawi, Founder, Managing Director, and CEO of EazyPay, said: “We are incredibly honored to be recognized by Forbes Middle East. This recognition is a testament to the dedication and hard work of our entire team, who are passionate about making financial services easier and more accessible for everyone in the region.”

Being listed on Forbes Middle East FinTech 50 marks a significant milestone for Eazypay and further reinforces its position as a leading force shaping the future of finance in the Middle East. The company remains committed to continuous innovation and collaboration to create a more inclusive and prosperous financial ecosystem for the region.

Source : Arab News (https://bit.ly/447Epex)

Targeting Major Growth in Middle East, Trendyol Attends The Retail Summit in Dubai

Türkiye’s e-commerce platform

Trendyol attended The Retail Summit held in Dubai this week, gathering the world’s foremost leaders in the retail sector, the company said in a statement on Friday.

The summit provided a platform for discussing the challenges and opportunities within the retail world, hosting over 1,000 industry leaders.

Speaking at a panel, Entering the Middle East - What’s the Winning Recipe?

Caglayan Cetin, President of Trendyol Group, shared insights into the company’s strategic goals in the region.

Moderated by Founder and CEO of Liminal Retail John Scott, the panel also featured notable figures such as General Manager of Estater Sanjay Goyal and CEO of Majid Al Futtaim Lifestyle Fahed Ghanim.

Since entering the Gulf market last year, we have quickly reached 1.5 million customers with the support of local and international investors. Our target by the end of 2024 is to hit 6 million customers,” Cetin said.

He noted the shift from physical shopping to online platforms, emphasizing that despite high foot traffic in shopping malls, consumer habits are evolving.

The panel discussion revealed that the internet penetration rate in the UAE stands at 98%, compared to 84% in Türkiye, with a significant portion of the population engaging in online shopping monthly.

“The UAE remains an exciting market for us, showing higher online shopping

penetration compared to global giants like the US and China,” Cetin added.

Trendyol has introduced thousands of Turkish brands to the Gulf region within six months of its operation, boosting the availability of diverse products, Cetin said.

“We believe that online and physical retail complement each other, and we expect brands that are currently only digital to start opening physical stores in the region,” he added.

Highlighting the cultural impact, Cetin noted a strong interest in Turkish products and culture in the Gulf, significantly influenced by the popularity of Turkish TV series in the region. “The engagement at our recent pop-up store, attended by wellknown Turkish actors, was overwhelming,” he said.

Source Yeni Safak

(Read More: https://bit.ly/3xVOWO8)

Coca-Cola Sparks AI Transformation With $1.1b Microsoft Cloud Expansion

Coca-Cola invests $1.1 billion in cloud-based and AI technologies over five years to enhance global productivity and innovation. The company partners with Microsoft to leverage platforms like Power BI and Dynamics 365 for generative AI use cases across various functions, including workforce productivity. This expansion builds on an initial $250 million investment and aims to accelerate enterprisewide AI adoption, benefiting both Coca-Cola and its bottling partners. Neeraj Tolmare, SVP and global CIO for Coca-Cola, emphasizes the move towards a digital-first enterprise powered by emerging technologies.

Source: Consumer Goods (Read More: https://bit.ly/3y4EL9R)

Unilever, Mondelez, Nestle, Ben & Jerry’s Among Brands Piloting DTC Delivery

Several consumer goods manufacturers are piloting a new DTC delivery platform that provides fulfilment services from their owned and operated e-commerce stores in as quickly as 15 minutes. Among the companies are Ben & Jerry’s, Unilever, Mondelēz, Nestlé, The J.M. Smucker Company, Haleon, The Ferrara Candy Company, Tums, and Jif. The latter two leveraged the platform during the Super Bowl, reportedly selling through their allocated inventory in under 60 minutes. Through the platform, provided by instant commerce company Gopuff, the CPGs launched their own, white-labeled DTC sites, from which users could order delivery. These sites can be customized to align with a brand’s messaging and design and tap into first-party data to foster consumer engagement.

Source: Consumer Goods Technology (Read More: https://bit.ly/3yrlaB9)

Estee Lauder Opens AI Innovation Lab To Expedite R&D And Social Listening

The Estée Lauder Companies is bolstering its R&D strategy and social and consumer listening through tech-powered efforts in a new AI Innovation Lab. The lab was created alongside Microsoft, which expands Estée Lauder’s relationship, first established in 2017. It will help the beauty company expedite product innovation for the 20 brands across its portfolio. As part of the effort, the company has created an internal gene-rative AI-enabled chatbot that uses conversational technology to bolster marketing, combing through Estée Lauder’s product and claim database to pinpoint trends that could turn into relevant campaigns.

Source: Consumer Goods (Read More: https://bit.ly/3xVH9zS)

EU Toughens Safety Rules For Online Retailer Shein

The European Union on Friday added Chinesefounded online retailer Shein to its list of digital companies that are big enough to come under stricter safety curbs. The company joins Facebook, TikTok, X, YouTube and others on a list of “very large online platforms” which have more than 45 million monthly active users in the European Union. From the end of August - four months after the designation - Shein will have to abide by tougher rules set out in the Digital Services Act (DSA), one of the EU’s landmark laws against online platforms. They include implementing measures to “protect consumers from purchasing unsafe or illegal goods, with particular focus on preventing the sale and distribution of products that could be harmful to minors,” the European Commission said.

Source: GulfNews (Read More: https://bit.ly/3V7Ogyp)

TikTok Announces PreOwned Luxury Category, Uk’s ‘Big 5’ Resellers Sign Up

TikTok Shop has just launched a Preowned Luxury category in the UK and US, which it said will “enable the community to browse and purchase authentic luxury fashion without ever having to leave TikTok”. It’s a big move for the business that’s a key forum for fashion trends and comes at a time when demand for pre-owned high-end bags, clothes and shoes has never been greater. The social media giant said the new category will mean that people can “learn more about luxury fashion, find style inspiration and purchase those must-have pieces” while they’re on the platform.

Source: Fashion Network (Read More: https://bit.ly/3QjOwHu)

Foot Locker Debuts ‘Store Of The Future’ As It Looks To Win Back Wall Street’s Confidence

Anew and improved Foot Locker debuted at a New Jersey mall on Wednesday as the sneaker retailer looks to reverse a sales slump, keep brand partners loyal and win back Wall Street’s confidence by revamping the footprint for its all-important stores. The new concept Foot Locker bills as its “store of the future” turns the retailer’s tired mall format on its head through a streamlined layout that’s more immersive than the typical format, which tends to be two walls of shoes with a middle section used for trying on sneakers. The new format also includes a “drop zone” that shows off new sneaker releases, a communal try-on area, elevated brand product displays and a “sneaker hub” for customized options like specialized lacing.

Source: CNBC (Read More: https://bit.ly/4dd6jKl)

Adidas Shares Rise 8% After First-Quarter Profit Hike, Improved Outlook

Adidas shares surged 8.2% on Wednesday following an unexpected boost in full-year guidance and a profit rise in Q1. The German sportswear giant now anticipates currencyneutral revenues to grow at a mid-to highsingle-digit rate in 2024, up from a previous mid-single-digit projection. Operating profit for the year is now expected to reach around 700 million euros ($745 million), Adidas said in its unscheduled trading update published late on Thursday. It had previously forecast operating profit near 500 million euros. Adidas has been selling off its loss-making Yeezy inventory since breaking ties with Ye, the rapper formerly known as Kanye West.

Source: CNBC (Read More: https://bit.ly/4baYZNy)

Partners Capital & CNR Retail To Replace Offices With Mall In Henderson

The Los Angeles-based investor and Las Vegas-based brokerage and developer have filed plans to convert the site with U-shaped offices into a shopping centre at 2500 to 2550 Paseo Verde Parkway at Green Valley Ranch, in Henderson. The two-building complex was built in 2000 and 2002 in the master-planned neighbourhood off the 215 Beltway at St. Rose Parkway. Plans now call for making it into an outdoor mall with more than 25 retail shops and restaurants, including health and wellness stores and a 26,000-square-foot covered outdoor dining lounge. The $30 million project, dubbed The Cliff, will include “a curated collection of crafted cuisine, artful spaces and brands off the beaten path,” according to a marketing brochure.

Source: The Real Deal (https://bit.ly/3UmoOoo)

GenAI Virtual Shoppers Cindy by imaginuity boots online and in-store foot traffic

Imaginuity developed and launched a virtual shopper named Cindy for JLL Retail Property Management that enhances the shopping experience by sharing recommendations, sales and discounts, and details on upcoming events. Just one month after launch, the “virtual shopping bestie” boosted year-over-year online website sessions across participating shopping centers by 500%, new site users by over 1000% and page views by nearly 500%. “Cindy is now an integral part of each center’s website presence and social media strategy, giving these important platforms a fresh new voice and personality that will build engagement with shoppers,” says Corbett Guest, President and Chief Strategy and Innovation Officer for Imaginuity.

Source: Trendhunter (https://bit.ly/3wchEcW)

SPAR Gran Canaria Optimising Retail Network’s Energy Efficiency

During the renovation, a special emphasis was placed on energy efficiency. This includes the installation of new LED lighting, the inclusion of electronic shelf labels to reduce paper usage, updates to the refrigeration units and the installation of advanced closed and vertical refrigerators to optimise energy consumption. These measures reflect SPAR Gran Canaria’s renowned commitment to sustainability and reducing carbon footprint. With an investment of approximately EUR 325,000, SPAR Gran Canaria continues its commitment to developing more environmentally friendly stores.

SPAR Gran Canaria continues to roll out its modern store layout concept which integrates numerous sustainable features, reflecting its focus on meeting certain sustainable goals. The retail chain’s network of stores on the island is committed to the local community as seen by the focus on supporting local producers.

Source: SPAR Gran Canaria (https://bit.ly/3Q8Iiu8)

Nordstrom Family Tries Again To Take Department Store Private, Forms Special Committee

The Nordstrom family is considering taking the department store private again, forming a special committee to assess bids, the company announced Thursday. CEO Erik Nordstrom and president Pete Nordstrom expressed interest in a privatization deal for the 123-year-old store, prompting the board to create an independent committee to review proposals. Nordstrom’s board aims to maximize shareholder value, evaluating bids’ alignment with company interests. The store cautioned that a deal’s approval is uncertain. In 2017, a similar deal with Leonard Green & Partners collapsed. Nordstrom seeks privatization to navigate a challenging retail landscape.

Source: CNBC (Read More: https://bit.ly/3UlC0Zt)

The Future of In-Store Technology: Embracing the Change

Retailers require creativity to be one step ahead of everyone and to survive in a dramatically changed global scenario. Companies that experiment with technologies to determine which ones improve operational efficiency and which improve the customer experience are more likely to succeed. Technology is to be a driving force behind change in the physical structure. This is because technology not only enhances both the shopping and customer experience but also changes customer requirements. The retail industry will have to keep up with emerging technologies and customer demands due to the changing underlying structure of technology. This is key to ensuring a future for high-street retail.

Source: The Retail Bulletin (https://bit.ly/3U4tM7R)

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SOUKS TO MALLS INVITES YOU

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Be part of a legacy! Souks to Malls: Retail Evolution in the Gulf - “The People” is a testament to our industry's growth. Your insights, challenges, and successes are key to our narrative. Share your journey and inspire future leaders in this remarkable publication!

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