Asian Wealth Magazine Spring 2014 issue

THE LUXURY BUSINESS MAGAZINE FOR ASIAN ENTREPRENEURS

Vol. 3

Issue 2

Spring 2014

Tasmin luciaKhan UPWARDLY MOBILE

Gamucci STEPPING OUT FROM THE SMOKESCREEN

Illy Jaffar A GLASS HALF FULL

Also in this issue

My business: Sipra Deb

10 of the best ad campaigns Perfect your business swagger O Build a successful brand O Leap over 21st century barriers O O

THE ASIAN AWARDS ISSUE £4.99

A s i a n We a l t h M a g . c o . u k

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A s i a n We a l t h M a g . c o . u k

A s i a n We a l t h M a g . c o . u k

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Contacts THE LUXURY BUSINESS MAGAZINE FOR ASIAN ENTREPRENEURS

Vol. 3

Issue 2

PUBLISHER Kalpesh Patel kp@media-36.com

Spring 2014

EDITOR Jo Shorthouse jo@media-36.com

Tasmin luciaKhan UPWARDLY MOBILE

Gamucci STEPPING OUT FROM THE SMOKESCREEN

Design & Art Direction Christine Sullivan

Illy Jaffar A GLASS HALF FULL

Photography Sanjay Jogia Phil Bourne

Also in this issue

My business: Sipra Deb

O O O O

10 of the best ad campaigns Perfect your business swagger Build a successful brand Leap over 21st century barriers

THE ASIAN AWARDS ISSUE ÂŁ4.99

AW_Cover_Spring14.indd 1

26/03/2014 10:19

Cover Tasmin Lucia-Khan Photography Eyejogia.com Makeup and Hair Lubna Rafiq Academy

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Š Asian Wealth Media Ltd Suite 4B, 43 Berkeley Square Mayfair, London W1J 5FJ United Kingdom ISSN 2051-9230

Digital Marketing Manager Nemash Patel Editorial Contributors Pinky Lilani Melissa Stewart Shaz Memon Nima Suchak Beth Holmes Andrew Stone Zeeshaan Shah Rajeev Sharma Pinnacle Advisory Services The Sethi Partnership Varun Sharma Ellie Parsons Advertising Abby Ghafoor ag@media-36.com T: +44 (0)7748 983 331 Ash Krishnan ak@media-36.com T: +44 (0)7852 415 625 Office Support Team Beenta Patel Hema Patel www.AsianWealthMag.co.uk for all enquiries, please contact +44 (0)20 8406 8992 or email info@media-36.com AWM – Official Publication for:

All Rights Reserved No copy without the written consent of the publishers first given, can be lent, resold, hired out or otherwise disposed of in a mutilated condtion or in any unauthorised cover, by way of trade, or affixed to or as any part of a publication or advertising, literary or pictorial matter whatsoever. Asian Wealth Media publications are fully protected by copyright and nothing may be printed wholly or in part without permission. Every possible effort has been made to ensure the information contained in this publication is accurate at the time of going to press and neither the publishers nor any of the authors, editors, contributors or advertisers can accept responsibility for any errors or omissions, however caused. No responsibility for loss or damage occasioned to any person acting, or refraining from action, as a result of the material in this publication can be accepted by the editors, authors, the publisher or any of the contributors or sponsors.

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Editor’sLetter

How would you want to be remembered?

IN  THE  PAST  MONTH  WEâ&#x20AC;&#x2122;VE  SEEN  THE  PASSING  of  two  high  SUR¿ OH SXEOLF ¿ JXUHV ±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± DQG WKH DFFRPSDQ\LQJ ZHDOWK WKDW FRPHV ZLWK LW ± LV ZKDW D ORW RI XV VWULYH IRU QRW MXVW WR OLYH D OLIH RI FRPIRUW RU OX[XU\ ZKHQ ZH¶UH DOLYH EXW DOVR WR OHDYH D VHFXUH OHJDF\ IRU RXU FKLOGUHQ %XW ZKDW DERXW WKH OHJDF\ RI PHPRU\" 0DQ\ RI XV ZRUN ORQJ KRXUV WUDYHO ORQJ GLVWDQFHV DQG VSHQG SHUVRQDO WLPH VRFLDOLVLQJ ZLWK FOLHQWV 7LPH ZLWK ORYHG RQHV FDQ VRPHWLPHV FRPH VHFRQG WR VHFXULQJ WKH QH[W GHDO RU FRQWUDFW 1RW ZLOOLQJO\ ,¶P VXUH QRERG\ ZRXOG SXW WKHLU KDQGV XS DQG DJUHH WKDW WKH\¶G SUHIHU WR VHQG WLPH ZLWK FXVWRPHUV WKDQ FRXVLQV %XW WKH IDFW LV WKDW WRGD\¶V EXVLQHVV ODQGVFDSH LV JOREDO DQG ZRUNV WR D KRXU FORFN DQG VR PXVW ZH 7KH HQWUHSUHQHXU¶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¶UH JRQH 0RUH VR WKDQ H[SHQVLYH SUHVHQWV DQG WKH ODWHVW IDVKLRQV :H DUH MXVW SDUW RI D SDVVLQJ JHQHUDWLRQ SRHWLFDOO\ SXW E\ RQH RI RXU VXSSRUWHUV WKH ZDWFK EUDQG 3DWHN 3KLOLSSH LQ LWV DGYHUWLVLQJ FDPSDLJQ ³<RX QHYHU DFWXDOO\ RZQ D 3DWHN 3KLOLSSH <RX PHUHO\ ORRN DIWHU LW IRU WKH QH[W JHQHUDWLRQ ´ $IWHU DOO \RX FDQ¶W WDNH LW ZLWK \RX

Editor of Asian Wealth Magazine

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Ahead of the curve 80 Sport Yacht

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Sunseeker London 36 Davies Street, Mayfair, London W1K 4NF Telephone +44 (0) 20 7493 3441

www.sunseekerlondon.com Luxury motor yachts from 40ft to 155ft

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Contents 10 10 Glass half full ,OO\ -DIIDU KHDG RI EUDQG DGYRFDF\ DW 3HUQRG 5LFDUG WHOOV AWM DERXW KLV H[KLODUDWLQJ FDUHHU LQ PXVLF GULQNV  DQG 35 DQG KRZ KH LV VSUHDGLQJ WKH &KLYDV ORYH 16 Brains, beauty and building global empires 7DVPLQ /XFLD .KDQ LV D UHFRJQLVDEOH IDFH RQ %ULWLVK 79 EXW WKLV 2[IRUG HGXFDWHG EHDXW\ LV DOVR D WHFK VDYY\ EXVLQHVVZRPDQ DW WKH FHQWUH RI GLJLWDO DGYHUWLVLQJ WHFKQRORJ\ 24 The web game 7KH ZRUOG RI PRELOH DSSV LV ¿OOHG  ZLWK LQWULJXLQJ DYHQXHV IRU DFFHVVLQJ XQLTXH LQIRUPDWLRQ DQG VHUYLFHV WR LQWHJUDWH LQWR \RXU SHUVRQDO DQG  SURIHVVLRQDO OLIH 6KD] 0HPRQ  WDNHV D ORRN DW KRZ WR EXLOG \RXU  RZQ LGHD

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27 Publisherâ&#x20AC;&#x2122;s diary

39 Business NEWS

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32 A very modern misfortune ,I \RX VWDUWHG D EXVLQHVV LQ WKH V V RU V WKH EDUULHUV WR JURZWK ZRXOG KDYH EHHQ YHU\ GLIIHUHQW WR ZKDW ZH IDFH WRGD\ :H ORRN DW WKH VW FHQ WXU\ LVVXHV WKDW NHHS EXVLQHVVHV MXPSLQJ WKURXJK KRRSV 37 Fortune Footsteps =HHVKDDQ 6KDK LV &(2 RI 2QH Â ,QYHVWPHQWV D SURSHUW\ GHYHORSPHQW Â ,Q WKH QH[W IHZ PRQWKV KH ZLOO EH NHHSLQJ AWM UHDGHUV XSGDWHG RQ WKH VXFFHVVHV SULRULWLHV DQG FKDOOHQJHV IRU KLV EXVLQHVV

44 A lawyer for all seasons *6& 6ROLFLWRUV DGYLVHV PDQ\ KLJK QHW ZRUWK $VLDQ LQGLYLGXDOV DQG EXVLQHVVHV 6HQLRU SDUWQHU 6DOHHP 6KHLNK WHOOV AWM KRZ OHJDO LVVXHV KDYH FKDQJHG LQ WKH \HDUV VLQFH KH¶V EHHQ LQ WKH EXVLQHVV 49 Wonder Women!

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VOL 3 ISSUE 2

49 51 Health or wealth?

5DMHHY 6KDUPD WKH QHZ SUHVLGHQW RI WKH ERDUG RI GLUHFWRUV DW 7L( 8. GLVFXVVHV WKH SDUDGLJP EHWZHHQ KHDOWK DQG ZHDOWK IRU WKH HQWUHSUHQHXU 54 How to avoid the moneypit :KHQ EX\LQJ D KRXVH LW LV LPSHUDWLYH WR EH DZDUH RI WKH GLIIHUHQW W\SHV RI VXUYH\ DYDLODEOH DQG ZKDW NLQG RI DVVXUDQFHV WKH\ FDQ RIIHU WKH EX\HU 59 Oxfam raising awareness in Asia $VLDQ $ZDUGV FKDULW\ SDUWQHU 2[IDP ZRUNV WLUHOHVVO\ LQ $VLD WR JHW RQH VWHS FORVHU WR LWV GUHDP RI HUDGLFDWLQJ SRY HUW\ IRU JRRG 60 Play time has just begun )DPLO\ WUDJHG\ FDWDO\VHG WKH Â HQWUHSUHQHXULDO GUHDPV RI 6LSUD 'HE Â DQG DV D UHVXOW KHU EXVLQHVV 7KH 3OD\

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60 $UHQD FRQWLQXHV WR EULQJ IDPLOLHV WRJHWKHU 63 Whatâ&#x20AC;&#x2122;s in a name? :HOO LW WXUQV RXW TXLWH D ORW %XW WKHUH Â LV PRUH WKDQ MXVW D FDWFK\ SOD\ RQ Â ZRUGV WR EXLOGLQJ DQ HIIHFWLYH DQG Â UHFRJQLVDEOH EUDQG 68 Rising smoke 3LRQHHUV RI HOHFWURQLF FLJDUHWWHV 7D] DQG 8PHU 6KHLNK KDYH SDYHG WKH ZD\ IRU WKH QRZ ERRPLQJ VHFWRU AWM Â PHHWV WKH EURWKHUV ZKR DUH QRW UHDG\ WR H[KDOH \HW 74 Advertising is dead?

Long live advertising!

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Nima Suchak meets Illy Jaffar, head of brand advocacy at Pernod Ricard, and finds out how his exhilarating career in music, drinks and PR has equipped him to spread the Chivas love.

Photographs  by  Eyejogia.com On  location  at  Meridian  West  London

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We were supposed to be there for two weeks and came back a year and a half later. You can only hang out on Sunset Strip, living a rock ‘n’ roll lifestyle for so long.

A s i a n We a l t h M a g . c o . u k

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Meridian West London 535 Kings Road, London, SW10 0SZ meridian-westlondon.com A s i a n We a l t h M a g . c o . u k

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People are a big part of what I do. Finding and creating collaborations is really important to me, and I work with some great partners.

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15

b BRAINS, BEAUTY AND BUILDING GLOBAL EMPIRES

Tasmin Lucia-Khan is a recognisable face on British TV but this Oxford-educated beauty is also a tech-savvy businesswoman at the centre of digital advertising

technology. She tells Ellie Parsons how a student trip to Silicon Valley led to her current business AdMaxim, and why mobile is the next revolution for consumer content.

Photographs by Eyejogia.com On location at Sanctum Soho Hotel

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I was totally gripped by the experience. Dealing with live callers... interviewing correspondents who were at the scene.

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Behind the scenes I was this invisible entrepreneur

still looking at business ideas, innovation, investment opportunities and build-

ing a network of contacts.

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S O YO U WA N T TO C R E AT E A MOBILE APP . . .

The world of mobile apps is filled with intriguing avenues for accessing unique information, services, and one-of-a-kind compilations of just about everything you might ever want to know, use or integrate into your personal and professional life.

Shaz Memon takes a looks at the main considerations when building your own idea.

G

ood apps offer solutions to problems, broker brands, and engage users. Great apps provide unique solutions to industry- or user-specific problems, push brands into iconic realms, and produce a symbiotic, interactive experience for users.

Developing an app tied to your business or area of expertise which addresses oft-discussed, but never acted upon problems or dilemmas you or your clients and customers face can elevate your branding to literal cuttingedge status. To ensure your app idea fulfils a sharply defined need, follow a few simple steps.

Determine if your app is exclusive or unique. Great minds think alike and in the enormously creative ocean of apps it is highly unlikely that your idea has never popped into anyone else’s head before. Researching your app is

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important and will reveal if your app idea (as you envision it) already exists or if other apps exist but are not as comprehensive or as well integrated as yours.

From this point, and using the information you have gathered, you may either re-think your app idea or proceed with developing it. Since your app should solve a user problem, you will also need to consider the key words and phrases that potential users would enter to search for your app.

Additionally, you will want to utilise some of the available online resources that reveal user feedback on existing apps that resemble or are within your app idea’s range.

User feedback and existing apps that cover one or more of your app idea’s functions or target-user can be invaluable in exposing weaknesses in those existing apps, allowing you to strengthen your own app. Even if

you discover this type of information following your app’s launch, you can implement it, along with user feedback, for future versions.

Create a prototype of your app.

Whether you pursue developing your app on your own or with the support and guidance of a professional designer, using the services of an experienced animator to create an app prototype is vital. This prototype will be an interactive video that produces a demonstration of your app’s functionalities. It can be used as part of an investor pitch package, an operational trouble-shooting tool, and as a concept testing module.

Testing your concept is essential.

Before investing further time and capital in your app, you need to gain some real-time, live feedback from your target audience. Armed with your prototype app, contact representative individuals – personally whenever

A s i a n We a l t h M a g . c o . u k

Marketing

possible – and note their questions, concerns, and compliments. If personal access is unavailable, consider opening your prototype to feedback via social media avenues using a survey approach. Small gratuities, such as gift cards from well-known retailers (Amazon, Starbucks, etc), can also

and establish a new plateau of user interaction. To kickstart that potential, keep a few things in mind: O Identify the problem you are solving with your app.

O Research your app to determine if it is unique.

O Create an app prototype for trouble-

free, purchased, or an extension of your brand marketing. If it is going to be a free app, would you want to make money from it through advertisers? If a purchased app, what makes it worth buying? If being used to strengthen and add value to your brand, will it accomplish that goal?

“TESTING YOUR CONCEPT IS ESSENTIAL. YOU NEED TO GAIN SOME REAL-TIME, LIVE FEEDBACK FROM YOUR TARGET AUDIENCE.” provide incentive for more in-depth feedback. Concept testing is the fine-tuning that can turn your app from good to great. Remember: Your target users will always think of something you missed or could add, so be prepared and open to re-designs.

Your app idea may break the mould

A s i a n We a l t h M a g . c o . u k

shooting and concept testing.

O Test your app’s concept by obtaining

Striking out into the app realm can be exciting and taking this journey

target user feedback.

O Be prepared to re-design throughout

with the support of a professional designer can ensure that the excite-

development.

O Utilise the skills and expertise of professional animators and designers.

Finally, consider if your app will be

ment holds true throughout your experience – and can be the key to a successful launch.

digimax.co.uk

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KEEP IT IN THE FAMILY. There’s a very good reason that we know so much about family businesses; we are one.

MIDDLE EAST

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Perfect swagger YOUR BUSINESS

Clinching that all-important business deal can be all the easier if you project confidence and style. Here, we give you our hot tips on how to dress to succeed.

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RENOWNED STYLE BLOGGER PRINCE CASSIUS HAS A SIGNATURE STYLE; SHOES BY BOBBIES

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A very modern

misfortune If you started a business in the 1960s, 1970s or 1980s the barriers to entry and growth would have been very different to what businesses, especially SMEs face today. Beth Holmes takes a look at the very specific 21st century issues that keep businesses jumping through hoops.

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In Business

â&#x20AC;&#x2DC;â&#x20AC;&#x2DC;

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A s i a n We a l t h M a g . c o . u k

A s i a n We a l t h M a g . c o . u k

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ALL AIRCRAFT OFFERED BY NETJETS ® EUROPE ARE MANAGED AND OPERATED BY NETJETS TRANSPORTES AÉREOS S.A., AN EU AIR CARRIER. NETJETS IS A REGISTERED SERVICE MARK. NETJETS INC. IS A BERKSHIRE HATHAWAY COMPANY. © 2014 NETJETS INC. ALL RIGHTS RESERVED. EMAILS SENT TO THIS ADDRESS WILL BE VIEWED BY NETJETS AND ASIAN WEALTH MAGAZINE FOR THE PURPOSES OF MONITORING REFERRALS.

Tr u s t c a n n o t b e b o u g h t ,

BUT IT CAN BE EARNED.

Relying on the integrity of another is something that evolves over time – when there’s a good reason to in the first place.

That’s what only the highest investment in safety and the reputable backing of Berkshire Hathaway can do for you.

f o r b u s i n e s s , f o r f a m i l y, f o r l i f e

F I N D36 O U T W H AT C O R N E R S W E D O N O T C U T, E V E R / + 4 4 ( 0 ) 2 0 3 5 5 3 5 4 7 2 / A S I A N W E A LT A sHi a@nN WEe TJ a lEt hT SMEaUgR. cOoP. E u k. C O M

Fortune Footsteps

PHOTOGRAPH: FAHAD SHAH

O

NE INVESTMENTS is a developer and master agent of investment property both in the UK and internationally. The development side of our business is predominantly UK based; however, our investors have a keen appetite to invest internationally when there are healthy returns to be made.

On an international front our role is to find the latest emerging market, carry out due-diligence processes and forge partnerships with the relevant industry leaders. Within our international portfolio we have an array of opportunities from oil workers housing projects in the US oil boom state of North Dakota to luxury hotel apartments in downtown Dubai.

In 2014 my focus is to grow our UK-based operations both in London and the prime regional markets. For a relatively young company like ours, it has been difficult to make a dominant mark in the London property market, and thus we had to turn elsewhere. We have carved out a niche for ourselves selling over 350 buy-to-let properties in the UK’s prime regional cities (Birmingham, Manchester, and Liverpool) through private investor events in Singapore and Hong Kong.

Although investors in Asia have traditionally been interested in London, through the education of organisations like One Investments, they are beginning to recognise the opportunities the rest of the UK presents in terms of superior yields and growth opportunity. Not only do buy-to-let property investments in a city like Birmingham or Manchester yield almost double a like-for-like property in London but over the next five years almost all experts are in consensus that they will also outpace London in terms of capital growth.

I’m not denying the strength of London, the security it offers as a global capital is unrivalled. Indeed, our flagship development of 2014 is a 131-room hotel in North Greenwich on which we will be breaking ground in July. However, shrewd investors will make strong gains outside of London as well in the coming years.

In 2013 I was a candidate on BBC’s The Apprentice. It was always something I wanted to do and with close

A s i a n We a l t h M a g . c o . u k

FORTUNE footsteps

Zeeshaan Shah is CEO of One Investments, a property development and investment company.

In the next few months, he will be keeping AWM readers updated on the successes, priorities and challenges for his business in the regular Fortune Footsteps column.

friends and family pushing me I finally applied in 2012. I was 26 years old, business was going well and it seemed like the perfect time. I am a great believer in making the most of life in all areas, and as someone with a relatively well-established business my interest in The Apprentice was to experience being part of the world’s most popular business show, something money can’t buy.

I thoroughly enjoyed every minute of the experience from the filming and time spent with fellow candidates to the airing of the show and the media frenzy that surrounds it. On a development front it was a great learning curve for me and I learned a lot about myself, my strengths and my weaknesses. I believe the biggest lesson I learned was that you have two ears and one mouth for a reason, listen more!

oneinvestments.co.uk

37

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38

A s i a n We a l t h M a g . c o . u k

BUSINESS news T O D AY ' S N E W S F O R T O M O R R O W ' S B U S I N E S S

“BREATH-TAKING” LEVEL OF MIGRANT ENTREPRENEURS REVEALED Migrant entrepreneurs are behind one in seven British businesses, they are twice as entrepreneurial as British-born citizens of the same working age, they are on average much younger than British entrepreneurs and Indian migrants are among the most successful of this group.

This is according to a new report, released

by DueDil and the Centre for Entrepreneurs, which found that almost half a million people from 155 countries have settled in the UK and launched businesses. Among the SME segment, migrant-founded companies are responsible for creating 14% of all jobs.

Migrants from India and Pakistan were among the top migrant entrepreneurs, with 32,593 and 16,617 company founders respectively. In fact, India was only beaten to the top spot by Irish migrants.

Matt Smith, director of the Centre for Entrepreneurs, said: “The contribution of migrant entrepreneurs is, to be frank, breath-taking.

Presented with such irrefutable evidence, it is now the responsibility of politicians of all parties to celebrate migrant entrepreneurs’ contributions and restate their commitment to maintaining pro-entrepreneurship immigration policies.”

The survey found that 50% of those asked

“The contribution of migrant entrepreneurs is, to be frank, breathtaking. Presented with such irrefutable evidence, it is now the responsibility of politicians of all parties to celebrate migrant entrepreneurs’ contributions”

believe that the UK government is doing the right amount or should do more to attract new migrant entrepreneurs to the UK, versus 28% who believe that the government should do less.

Entrepreneurial activity amongst the migrant community was found to be nearly double that of UK-born individuals, with 17.2% having launched their own businesses, compared to 10.4% of those born here. They are also, on average, eight years younger than indigenous entrepreneurs at 44.3 years old, compared to 52.1.

Unsurprisingly, London was found to be the city with most migrant entrepreneurs. It benefits disproportionately from this group, with 20 times the number of migrant-led businesses (188,000) than Birmingham.

HAATHEE FOUNDERS AWARDED BY PUBLIC LIFE AWARDS

IMAGE: ASIAN VOICE

AWM cover stars Sunny Patel and Meraj Alam were honoured with the Entrepreneur of the Year award at the recent Asian Voice Political and Public Life Awards. The ceremony, held at the House of Commons, celebrates those people that have made a significant contribution in both public and politic domains, irrespective of race or ethnicity.

Other winners on the night included X Factor winner Sam Bailey who won the Breakthrough Woman of the Year award, owner of Bobby Restaurant Dharmesh Lakhani was awarded for Innovation of the Year, and Vivek Chadha, director of the S&J Group, was the recipient of the Young Entrepreneur of the Year prize.

A s i a n We a l t h M a g . c o . u k

39

BUSINESS news INDIAN BANKS IN UK FACE REGULATORY SHAKEUP Indian banks in Britain may face new hurdles to doing business under proposals for a shake-up of the way foreign lenders are regulated.

The Bank of England’s Prudential Regulation Authority has proposed new rules which could mean nonUK banks may be forced to overhaul their legal structure. The new scheme would make it much harder for foreign lenders to offer customer banking through branches rather than subsidiaries.

The PRA has a clear framework for all types of firms it supervises, which takes into account the different legal requirements for branches and subsidiaries. For branches from outside the European Economic Area (EEA), this framework focuses on two main tests: whether the supervision of the firm in its home state is equivalent to that of the PRA; and whether the PRA has assurance from the home supervisor over the

INDIAN ANGELS SWOOP TO UK SHORES

T

he Indian Angel Network (IAN), Asia’s largest angel network of over 250 investors comprising a who’s who of successful entrepreneurs and CEOs, is about to make its first investment in a UK company.

The successful London-based company, SwiftShift, has invented a software solution that allows companies to quickly fill short notice shifts using their own staff through SMS, email, and mobile technology.

The announcement, which is

firm’s resolution plan in a way that reduces the impact on financial stability in the UK. In line with these tests, the PRA will determine whether the firm undertakes any critical economic functions in the UK. Depending on what these are, and their potential impact on UK financial stability, the PRA will make a judgement about whether it is content for the firm to operate as a branch in the UK. Andrew Bailey, CEO of the PRA, said: “The UK is one of the most open places for banks to operate in the world and we want that to continue. This document sets out our approach to supervising international banks, particularly branches from outside the EEA. It is important that we get the right balance between maintaining our place as an open financial market while delivering our statutory objective of promoting safety and soundness in the firms we supervise. This is crucial for the stability of the UK financial system.”

subject to due diligence, follows a reception for the IAN investor group at Number 10 attended by the Prime Minister David Cameron, and Business Secretary Vince Cable. In November 2013, the Prime Minister met the IAN Network in India where they agreed to set up a UK base to invest in British start-ups.

Minister for Government Policy Oliver Letwin said: “There is a wealth of British talent and potential that needs the right investment and bringing the Indian Angel Network to this country forms part of our efforts to ease access to finance for

“There is a wealth of British talent and potential that needs the right investment and bringing the Indian Angel Network to WKLV FRXQWU\ IRUPV SDUW RI RXU H֕ RUWV WR HDVH DFFHVV WR À QDQFH for startups and attract foreign capital.”

40

start ups and attract foreign capital.”

Indian firms are now the fifth largest investors in the UK and more than 50% of Indian investment into Europe goes to the UK. The IAN has already invested in start ups in countries including the USA, Canada, France, Hong Kong, Singapore, Sri Lanka and India.

The IAN invests in start ups and early stage ventures, has an investor base of over 250 angels from India and 10 other countries around the world.

The audit and tax advisory firm KPMG also announced that it is supporting this initiative by becoming a corporate partner for the IAN network, which will see them provide support services for the IAN in the UK.

A s i a n We a l t h M a g . c o . u k

BOOHOO GOES PUBLIC Shares in the online fashion retailer Boohoo.com jumped by more than 50% on the first day of trading on London’s alternative investment market (AIM) on 14th March.

The shares first started at 70% above the offer price of 50p each before easing slightly. The company is now valued at approximately £870m.

The company, which has found a niche selling ownbrand fashion and accessories to the teen and young adult market, is majority owned (82%) by the Kamani family. It was started by Mahmud Kamani, pictured, and Carol Kane in 2006.

Last month, rival online retailer ASOS lost its director Peter Williams to Boohoo.com. He will now become chairman of the ‘e-tailer’ as it navigates its place as a public company.

WEALTH GAP WIDENS IN BRITAIN A report from the charity Oxfam has shown that the five richest families in Britain, of which the Hinduja family – worth an estimated £6bn is one, have more wealth put together than the poorest 20% of the population.

Oxfam is using the data to lobby the Chancellor George Osborne to make it more difficult for tax avoidance.

Oxfam’s figures show that over the past two decades the wealthiest 0.1% have seen their income grow nearly four times faster than the poorest 90% of the population. In real terms, that means the wealthy have seen their income grow by £24,000 a year, while the bottom 90% of Britons’ incomes have gone up by only a few pounds a week.

The British Chambers of Commerce has upgraded its UK GDP growth forecasts for the next two years – from 2.7% to 2.8% in 2014 (a pre-recession peak) and from 2.4% to 2.5% in 2015.

John Longworth, BCC director general, says that the economy is “gaining momentum” and pays tribute to businesses across the UK that have fought hard to grow and create jobs. However, he also warns that major issues remain as the economy still faces longterm challenges despite recent progress.

7KH À UVW LQFUHDVH LQ 8. LQWHUHVW rates expected in Q3 2015 to 0.75%, the organisation says, while predicting that wage growth will exceed LQÁ DWLRQ IURP mid-2014.

A s i a n We a l t h M a g . c o . u k

&

QUOTES anecdotes Q Life is pretty simple: <RX GR VRPH VWX֕ Most fails. Some works.

You do more of what works.

If it works big, others quickly copy it.

Then you do something else.

The trick is the doing something else.

Leonardo da Vinci

Q I’M NOT A BUSINESSMAN. I’M A BUSINESS, MAN. Jay-Z

Q Don’t pray for an easy life, Pray for the strength to HQGXUH D GL֖ FXOW RQH Bruce Lee

Q I FAILED IN SOME SUBJECTS AND EXAMS, BUT MY FRIEND PASSED IN ALL. NOW HE IS AN ENGINEER IN MICROSOFT AND I AM THE OWNER OF MICROSOFT. Bill Gates

41

OVER 30 MILLION CHILDREN IN SOUTH ASIA DO NOT GO TO SCHOOL. MOST OF THEM ARE GIRLS.

Education is a priority for The British Asian Trust.

We help poor children, especially girls, go to school.

We do that by investing in local charities — like Educate Girls in Rajasthan, India — that are making the greatest impact on poverty in South Asia.

Our unique approach aims to encourage philanthropy amongst the British Asian community by:

Since 2008, Educate Girls has touched the lives of more than 37,000 girls. Through our portfolio of high-impact charities like Educate Girls, the Trust has reached out to more than 350,000 people in Bangladesh, India, Pakistan and Sri Lanka.

s 3HOWCASING GRASSROOTS CHARITIES THAT do not have adequate visibility in the UK

Founded by British Asian business leaders at the suggestion of HRH The Prince of Wales, the Trust promotes effective giving that creates lasting change in South Asia.

s #OMBATING SCEPTICISM IN THE IMPORTANT sector of charitable giving in South Asia

s 3HARING THE PROGRESS OF DONATIONS through regular reports

Help us bring lasting change to South Asia.

“The British Asian Trust supports innovative and inspirational organizations and projects in South Asia and in the United Kingdom to address issues of long term sustainability.”

Visit www.britishasiantrust.org to learn more and donate online or call: +44 (0)20 7024 5646

02%3)$%.4 (2( 4(% 02).#% /& 7!,%3

THE BRITISH ASIAN TRUST IS A UK REGISTERED CHARITY (1127366)

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A s i a n We a l t h M a g . c o . u k

â&#x20AC;Ś..BECAME  POPULAR  IN  THE  MOVIE  JERRY  MAGUIRE  BACK  IN  1996.  A  football  player  was  pushing  his  agent  to  negotiate  a  better  contract  by  saying  repeatedly,  â&#x20AC;&#x153;Show  me  the  money!â&#x20AC;?  Today,  people  use  the  phrase  when  they  want  evidence  that  something  is  worth  the  asking  price.  So  what  is  your  business  worth?  The  answer  is  quite  simple;  your  business  is  worth  what  somebody  is  willing  to  pay  for  it.

Recently  Facebook  bought  Whatsapp  in  a  deal  worth  a  total  of  $19bn  (ÂŁ11.4bn)  in  cash  and  shares.  Why  such  a  hefty  price?  Well,  Facebook  saw  that  What-­ sapp  had  managed  to  do  what  Facebook  hadnâ&#x20AC;&#x2122;t.  It  employs  a  subscription-­based  revenue  model.  There  is  also  a  zero-­ advertising  commitment  and,  presum-­ ably,  no  commercial  exploitation  of  user  data.  This  acquisition  could  help  Facebook  understand  how  to  success-­ fully  execute  a  business  model  that  could  replace  its  own.  Only  time  will  tell  if  they  got  the  valuation  right.  If  you  donâ&#x20AC;&#x2122;t  create  the  alternative  or  bring  innovation  to  your  business  model,  others  will  disrupt  it.

Here  are  some  key  points  to  cover  when  valuing  your  business: The valuation techniques. In  terms  of  techniques  investors  use  to  value  your  business,  investors  will  study  things  like: O UHYHQXH FDVK Ă&#x20AC; RZ RU QHW LQFRPH PXOWLSOHV IURP UHFHQW Âż QDQFLQJV LQ \RXU industry  O UHYHQXH FDVK Ă&#x20AC; RZ RU QHW LQFRPH multiples  from  recent  M&A  transactions  in  your  industry O D GLVFRXQWHG FDVK Ă&#x20AC; RZ DQDO\VLV RI IRUH FDVWHG FDVK Ă&#x20AC; RZV IURP \RXU EXVLQHVV These  multiple  ranges  can  be  very  wide,  and  vary  substantially,  within  and  between  industries.  Forecasted  earnings  growth  is  typically  the  number  one  driver  of  your  valuation.  If  there  are  no  earnings  yet,  with  your  EXVLQHVV SORXJKLQJ SURÂż WV LQWR ORQJ WHUP growth,  then  revenue  multiples  or  some Â

A s i a n We a l t h M a g . c o . u k

â&#x20AC;&#x153;Show ME THE

money!â&#x20AC;? other  metric  would  be  used.  Revenue  multiples  can  be  from  the  0.5x-­1x  range  to  1x-­3x  range,  and  in  extreme  scenarios,  FDQ JHW DV KLJK DV [ IRU KLJK Ă&#x20AC; \LQJ businesses  with  explosive  growth.

If  there  are  no  revenues  for  your  business,  raising  funds  for  your  business,  DW DQ\ YDOXDWLRQ ZLOO EH YHU\ GLI¿ FXOW Investors  need  some  initial  proof  of  concept  to  get  their  attention.

Supply and demand. The  scarcer  the  supply,  the  higher  the  demand.  Multiple  interested  investors  competing  for  the  deal  can  drive  up  the  valuation  of  your  business.  Perceived  demand  can  also  work  in  the  same  way  by  ensuring  your  business  will  be  perceived  as  new  and  unique  to  maximize  your  valuation.

Research your industry. Each  industry  typically  has  its  unique  valuation  methodologies.  Before  you  put  a  valu-­ ation  on  your  business,  make  sure  you  have  studied  the  valuations  achieved  in  UHFHQW Âż QDQFLQJV RU 0 $ WUDQVDFWLRQV LQ your  industry.  Knowing  the  benchmark  for  your  industry  will  help  you  compare  your  value  to  other  businesses  in  your  sector.  If  you  feel  you  do  not  have  access Â

to  relevant  valuation  statistics  for  your  LQGXVWU\ HQJDJH D ¿ QDQFLDO DGYLVRU WKDW can  assist  you.

Think about your growth rate.

Long-­term  growth  rate  can  factor  into  your  businessâ&#x20AC;&#x2122;  value,  and  could  account  for  why  your  business  is  actually  worth  more  than  the  market  says.

Donâ&#x20AC;&#x2122;t only use the buyerâ&#x20AC;&#x2122;s valuation. When  youâ&#x20AC;&#x2122;re  ready  to  sell,  a  buyer Â

may  make  an  offer  based  on  their  valua-­ tion  of  your  business.  Before  completing  the  sale,  be  sure  to  get  another  third-­party  value  assessment  to  ensure  youâ&#x20AC;&#x2122;re  not  underselling  your  company. ,Q YDOXLQJ D EXVLQHVV Âż QDQFLDO SURIHV sionals  donâ&#x20AC;&#x2122;t  all  use  the  same  formula  for  determining  a  businessâ&#x20AC;&#x2122;  value.  When  trying  to  value  a  business  you  need  to  think  more  broadly  about  what  issues  PLJKW LQKLELW FDVKĂ&#x20AC; RZ JURZWK \HDUV into  the  future.  You  should  address  both  ¿ QDQFLDO DQG VXVWDLQDELOLW\ LQIRUPDWLRQ WR obtain  a  meaningful  valuation.

At  the  end  of  the  day,  the  investor  will  have  a  very  good  sense  of  what  a  business  is  worth,  and  what  they  are  willing  to  pay  for  it.

Chartered Certified accountants

43

PEOPLE BEHIND THE PROCESS

A LAWYER FOR ALL

seasons GSC Solicitors LLP advises many high-net-worth Asian individuals and businesses. Here, senior partner Saleem Sheikh tells AWM how legal issues have changed in the 30 years since he’s been in the business and why his own journey gives him a unique perspective on the changing landscape.

Photographs by PhilBourne.com

W

HEN SALEEM SHEIKH’S DREAMS of becoming a commercial airline pilot were gently quashed by his father, he decided to take his interest in the law further. Today, many of Saleem’s clients must be very grateful to Mr Sheikh Senior for his advice.

His father, Manzoor-ul-Haq Sheikh, had been worried for his teenage son’s safety. Saleem’s uncle had tragically died while flying over his sisal farmlands in East Africa in 1963, leaving a 28-year-old widow and young children. With this accident fresh in Manzoor’s mind, he advised his son that he may want to pursue a safer career path.

Stability was important for the Sheikh family. Originally from Amritsar in northern India, when partition came in 1948 they were forced to move to the new Muslim state of Pakistan. Whilst in Lahore, the family gave up their businesses and assets left in India as it was too dangerous to stay behind. Since the early 1900s, Saleem’s mother’s family had been in Kenya and had established successful businesses in the country. They encouraged the couple, Hamida and Manzoor, to move to Africa and in 1949 they settled there.

Having an academic background, Manzoor became a senior civil servant for the British government in Nairobi.

When Kenya’s independence came in 1963 he worked for the President, Jomo Kenyatta, but his position was ‘Africanised’, whereby he taught a Kenyan to do his job in his place.

The British government anticipated problems in Africa and in 1965 when Manzoor retired, he was invited to come to England. The family did not take up Kenyan passports but retained their British citizenship.

The Sheikh family left its idyllic lifestyle in Africa and arrived in Britain on 7th August 1967, to a rainy August morning, Saleem recalls. Although Kenya didn’t have the

44

problems of Uganda, the British government were proved correct in their anxieties about the future of the country for non-ethnic Africans. “It was a choice to leave Kenya, but it was ‘Hobson’s choice’. If he had left it two years later it would no longer have been a choice. So at least our move was orderly,” Saleem explains.

Life in Britain was difficult in the beginning, he says.

“It was the time of Enoch Powell and discrimination and a lot of immigrants were coming to the UK, but I personally never experienced discrimination. The key was that we blended in well; we weren’t going to be just a little segment of a community. My father always felt that we had to be part of the host community, just like we had been in Africa; we always intermingled with different cultures so it was a fairly smooth transition.”

Living in the west London town of Isleworth, a young Saleem still harboured his dreams of becoming a pilot.

When the ambition was denied, his extended family, made up of successful entrepreneurs and lawyers, suggested Saleem look into his second passion: the law. Brought up on courtroom TV shows such as Crown Court and Perry Mason, Saleem has always been intrigued by the dynamics of a courtroom and was encouraged further by the wise words of his businessman uncle. “He was always saying how important it was to have the right lawyer, that he was worth his weight in gold, and how he could be an absolute strength in any businessman’s arsenal,” Saleem remembers.

Saleem attended the London School of Economics in 1977 to read law. He joined GSC (Green David Conway & Co, as it was) in 1981 on a training contract, qualified in 1983 and by 1985 was a partner in the firm. Since that time, the law firm has changed significantly.

Saleem describes a “sea change” in the type of wealth ad-

A s i a n We a l t h M a g . c o . u k

PBTP

â&#x20AC;&#x2DC;â&#x20AC;&#x2DC;

He was always saying how important it was to have the right lawyer, that he was worth his weight in gold A s i a n We a l t h M a g . c o . u k

45

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A s i a n We a l t h M a g . c o . u k

vice he has been asked for over the past 30 years. In the early days, particularly in the Asian community, it was all about wealth creation, he says. “A lot of Asian businesses had come to the UK in the 1970s and 80s and really uprooted themselves, so it was a case of putting the building blocks of a business into place. It was about asset protection and having a good structure in the business to make sure it could grow and a lot of those companies have now done amazingly well.”

Over the past 30 years, the advice has become more sophisticated, the wealth has grown and the asset base has become more diverse. Asian-owned businesses have gradually moved into manufacturing,

‘‘

distribution, service industries, care industries and the food business. Over the last 10 years, these businesses have also become more international.

“It’s become a multi-jurisdictional approach,” Saleem explains.

I understand how Asian minds work, I under-

stand how Asian businesses work, I understand their

s Asian businesses have evolved, the situations that Saleem consults on have become more complex. For example, there may be a family business made up of three or four brothers that worked well in the beginning, but as the families have grown and children have different aspirations, the situation changes. “These circumstances raise a lot of questions about how wealth is structured, and often things like offshore trusts or onshore businesses are considered,” explains Saleem. “I think in the early days, the community worked very much on handshakes and not so much with written documentation. Regretfully, if there was a fall-out or a death, it would cause a problem. Now, people are savvier about getting the right advice and getting things documented and having a shareholders’ agreement in place.”

Not only is the type of legal issue for high-net-worth individuals changing,

agreements, writing Wills and a lasting power of attorney, tax-efficient gifting to children and inheritance tax.

Nowadays it’s about wealth preservation in many cases, Saleem explains.

“Sometimes we deal with a situation whereby the second or third generation have rights over the money for education or property, but they don’t actually have access to the capital.”

Over time, Saleem’s role has morphed from that of lawyer to a consultant. Clients talk to Saleem openly and freely; he jokes that it is a bit like

the range is growing hugely. Saleem commonly deals with issues including: succession planning for children coming into the business, protecting assets for married clients through prenuptial agreements or trusts, partnership

seeing the family doctor. “You have to be many things in this business,” he explains. “You become part of the family; they share things confidentially with me: their fears, their concerns, their secrets and their aspirations.”

A

A s i a n We a l t h M a g . c o . u k

ethos and their ethics

The changing approach to clients has catalysed the launch of GSC’s consulting business this year. “They trust me through the whole process.

We discuss what to do with the money, what to invest or put into a trust or give to charity,” says Saleem, highlighting the amount of philanthropy that is involved in the Asian business community.

Currently high-net-worth individuals make up approximately 65% of GSC’s business. Saleem is seeing a rise in British Asian entrepreneurs and businesspeople referred to his firm. He is recommended through existing clients and through big private banks such as Coutts. There is a big rise in Asian families whose wealth has grown with their business, be it a hotel that has now turned into a chain or a cash and carry which has now turned into a string of retail outlets. “With that, they need to get specific advice,” says Saleem. “Maybe they have used their high street firm historically. But the bank will advise them to get sophisticated advice; they need someone who understands their culture, their background and also the fact that you sit in a western environment today. I’m quite unique – I act as a bridge between both cultures.”

Saleem is multi-lingual, speaking six languages in all, which is an asset he uses every day. Many foreign clients have assets in the UK, and increasingly clients who traditionally work and invest in the UK are turning to places such as East Africa or India as a result of the financial crisis. In these situations, Saleem’s cultural knowledge and understanding make him a vital asset.

“I understand how Asian minds work, I understand how Asian businesses work, I understand their ethos and their ethics. I understand the sweet spots and the crunch points that arise in their thinking and in their business lives.” In the office there are 16 languages spoken. This international flavour is something the firm is keen to capitalise on. Not only is GSC providing advice for all seasons in business, but now for all geographies too.

gscsolicitors.com

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A s i a n We a l t h M a g . c o . u k

Wonder Women

wonder women

Pinky Lilani is AWMâ&#x20AC;&#x2122;s newest columnist. Her years of experience running her Spice Magic business, as well as establishing the Asian Women of Achievement and Women of the Future awards, makes her the perfect voice for successful

m

and ambitious women in industry, business and beyond.

ARCH  IS  ONE  OF  MY  FAVOURITE  MONTHS;  it  marks  the  beginning  of  spring  and  the  blooming  of  daffodils  and  apple  blossoms.  But  it  is  also  the  month  when  organisations  go  into  over  drive  to  celebrate  International   Womenâ&#x20AC;&#x2122;s  Day.  Endless  panel  discussions  and  receptions  later,  we  still  donâ&#x20AC;&#x2122;t  have  much  to  celebrate.  Women  make  up  46  %  of  the  work  force  but  take  just  a  third  of  management  roles  and  the  pay  gap  still  exists.  Often  it  is  im-­ plied  that  the  lack  of  female  progress  is  entirely  down  to  a  pau-­ FLW\ RI UROH PRGHOV DQG ZRPHQ EHLQJ LQVXIÂżFLHQWO\ DVSLUDWLRQDO I  simply  donâ&#x20AC;&#x2122;t  agree.  Saritha  Arunkumar  is  IBMâ&#x20AC;&#x2122;s  leading  security  and  subject   PDWWHU H[SHUW +HU ZRUN LV LQ WKH FULWLFDO ÂżHOGV RI LGHQWLW\ Â

A s i a n We a l t h M a g . c o . u k

access,  federation  management  and  enterprise  security   solutions  â&#x20AC;&#x201C;  ensuring  the  privacy  of  services  and  devices  in  a  mobile  world.  Not  only  a  mother  and  wife,  she  is  also  a   part  time  PHD  student  in  mobile  security  and  has  great   communication  skills.

Eleni  Antoniadou  is  one  of  the  worldâ&#x20AC;&#x2122;s  most  innovative  UHVHDUFKHUV ZRUNLQJ LQ WKH ÂżHOG RI DUWLÂżFLDO RUJDQ GHYHORSPHQW as  a  therapeutic  pathway  for  transplantation.  Her  interest  in  space  exploration  has  led  her  to  conducting  research  for  NASA.  She  volunteers  in  medical  missions  helping  children  who  have  been  victims  of  illegal  organ  trading.  Melissa  Morris  has  launched  Network  Locum,  an  online  plat-­ form  that  connects  locum  doctors  and  GP  practices.  Already  900  GP  practices  have  signed  up  and  monthly  revenues  are  soaring.

All  these  women  are  under  35.  I  rest  my  case.

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50

A s i a n We a l t h M a g . c o . u k

‘

TiEUK

HEALTH OR

wealth.

MUST WE PICK?

‘‘

WHAT MAKES THE BODY AND MIND TICK IN UNISON? &DQ RXU KHDOWK UHDOO\ EH WKH NH\ WR ¿QDQFLDO success? Surely, the brain power triumphs above all with its smartness and quick thinking, clinching those many business deals as rewards. Rippling abs and toned glutes may appeal in several (obvious) ways but yet are not immediately associated with wealth and riches.

Resisting the urge to name names, we see our wealthiest displaying their fortunes with lavish lifestyles and luxurious suits, albeit perhaps a little too tight at the seams.This begs the question: Is our wealth really synonymous with our health?

The effort to postpone our “use by” dates for as long as possible and to enjoy those luxuries of wealth to its entirety is no hidden secret. Expanding our lifespans has been successfully achieved since the early 20th century when our average life expectancy was a bleak 31. Our current world average life expectancy nears a level of 70, with UK measuring at an impressive 80 and increasing every year. The average reader of AWM today ranges from 30 to 60 and each of us reading this now should have a logical aspiration to live to 100 and beyond!

Previous studies on longevity by Boeing and Shell and observational studies focused on professionals seem to indi-­ cate that an early retirement age of 55 increases the chances of that individual reaching their normal life expectancy; a stark comparison to those passing within a few years of their

A s i a n We a l t h M a g . c o . u k

‘

PHOTOGRAPH BY PHILBOURNE.COM

Rajeev Sharma is a consultant orthopaedic surgeon at the East and North Hertfordshire NHS Trust and president of the board of directors at TiE UK. He discusses the paradigm between health and wealth for entrepreneurs.

retirement at 65. Is this an established correlation? Perhaps not, though the trend has not gone unnoticed. What does this imply and what can we do to reverse this trend? The outlook is reassuringly positive and encouraging for every one of us, however the question remains ‘what are my chances and how do I ensure the best possible outcome?’

Recent studies have shown how keeping a positive attitude and persisting in some form of gainful activity, tricks our mind and body to continue performing and not give up. This is depicted in the population groups that have taken up new challenges in their 50s and have also enjoyed longer lifespans.

Perhaps this is the key to having it all. I am reminded of the very clichéd phrase ‘Never say die attitude’ and this certainly forms the benchmark for the entrepre-­ neur’s immortality!

The heart keeps us ALIVE and the brain keeps us LIVE. We owe it to ourselves to keep SK\VLFDOO\ ¿W DQG HQMR\ WKH wealth of life and prosperity.

We are a very resilient species, as entrepreneurs have proven, by beating the recent recession and surviving. So I urge all of you reading this to start loving your body, get exercising and get that health kick – today.

Now go and make that billion and enjoy it for eternity.

Look out for further articles on topics such as health in the work place, enterprise in the health industry and how to main-­ WDLQ ¿WQHVV LQ D VWUHVVIXO ZRUN HQYLURQPHQW uk.tie.org; www.limbs.co

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A s i a n We a l t h M a g . c o . u k

D U B A I

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53

HOW TO

avoid the When buying a house it is imperative to be aware of the different types of survey available, and what kind of assurances they can offer the buyer.

Solicitor Ranjeev Saluja of The Sethi Partnership discusses the best way to be safe when investing in property.

54

CONSIDER THE SCENE, AFTER MUCH SAVING AND SEARCHING you have just bought your dream home, the furniture is being manoeuvred into place by removal men, the children are FODPRXULQJ WR ¿QG WKH EHVW EHGURRP IRU themselves, and you and your partner are gazing in awe at the sight of your hard work and accomplishments.

Now imagine it all crumbling away from you before your eyes because of the fact you cut corners with your legal transaction, also called a “conveyance”.

A solicitor has the duty to make sure that you are aware of all the possibili-­ ties that may occur when you purchase your property, but certain decisions can be left to the buyer, such as the extent of the searches to be carried out, the type of survey they wish to have, and the extent of insurances the solicitors may have recommended the client to take out.

Short-­term thinking never provides

long-­term gains, and saving a few pounds on your conveyance is an ex-­ ample of this. There are three different types of survey. They give you differ-­ ent amounts of information and detail.

Some may seem like a saving but you are risking possibly the biggest asset you will own.

If someone is buying with the help of a mortgage, the lender would recommend a valuation survey, and most would assume that what is good for the bank would be good for the client. This is not necessarily the case.

A survey carried out for the purpose of a loan may bring some certainty to a purchaser but the main intention of the valuation is to secure the bank’s interest in the property.

A valuation by a mortgage lender gives the least amount of information. It is only done to see if the price you have offered is close to the property’s value,

A s i a n We a l t h M a g . c o . u k

Legal

money pit so that the lender can recover the loan if the property has to be sold.

A house buyer’s report is more de-­ tailed. A full structural survey or build-­ ing survey is the most thorough type of survey. This may take more time, but will give assurances to you , and if requested can be a negotiating point between the seller and buyer before the exchange of contracts.

As a purchaser you should check carefully what a survey covers and what

‘‘

it does not. For example, there may be parts of the property that have not been checked because the surveyor could not get access to them. $OO TXDOL¿HG VXUYH\RUV VKRXOG EH D member of a professional association of Royal Institution of Chartered Survey-­ ors (RICS) and if you lose out because of a surveyor’s negligence, then there is a complaints procedure and arbitration scheme that you can use.

If you discover further faults with

A house buyer’s report is more detailed. A full structural survey or building survey is the most thorough type of survey.

A s i a n We a l t h M a g . c o . u k

the property before the exchange of contracts, then you should get these brought up in discussion and included as a term of the contract and can negotiate a delayed completion until the faults have been repaired by the vendor, or alterna-­ tively, a reduction in the purchase price.

On exchange of contracts the buyer usually has to pay 10% of the purchase price, and the balance on comple-­ tion, usually 4-­6 weeks thereafter. The property must be insured by the buyer as soon as contracts are exchanged.

We have a very dynamic team of property lawyers, advising on both residential and commercial property, please call us at The Sethi Partnership Solicitors on 0208 866 6464 or info@sethi.co.uk to discuss any property matter.

55

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A s i a n We a l t h M a g . c o . u k

IN ASSOCIATION WITH THE SETHI PARTNERSHIP SOLICITORS

TWENTY YEARS OF MAKING IT WORK The Sethi Partnership Solicitors is a professional law firm with traditional values. Based in the heart of West London, the firm is celebrating its 20 year anniversary in 2014.

R

ITU  SETHI  ESTABLISHED  THE  SETHI  PARTNERSHIP  IN  1994.  Despite  a  number  of  business  obstacles  at  the  outset,  the  eponymous  head  of  this  legal  ¿UP KDV UHPDLQHG H[WUHPHO\ IRFXVHG DQG KDV WDNHQ WKH ÂżUP IURP IRXU PHPEHUV RI staff  to  more  than  30.  â&#x20AC;&#x153;When  we  started  this  company,  we  were  up  against  turbulent  times  and   immense  adversity  but  through  sheer  drive  and  determination  and  great  sup-­ port  and  commitment  by  the  staff  and  loyal  clients,  we  have  achieved  sustain-­ able  growth,â&#x20AC;?  Ritu  recalls.   â&#x20AC;&#x153;I  therefore  felt  that  our  20  year  anniversary  was  an  appropriate  time  to  say  thank  you  to  all  who  have  been  part  of  the  journey   to  success.â&#x20AC;?

The  Sethi  Partnership  Solicitors  is  an  award-­ winning  practice  with  extensive  expertise  and  has  advised  over  1000  VDWLV¿HG FOLHQWV D \HDU ,W LV WKHUHIRUH OLWWOH ZRQGHU WKDW WKH ¿UP KDV notched  up  a  string  of  awards.  It  is  the  ¿UVW :HVW /RQGRQ ¿UP WR EH DZDUGHG WKH Lexcel  accreditation  for  legal  excellence  by  the  Law  Society,  an  Investors  in  Peo-­ ple  award  and  a  Legal  Aid  Franchise  all  in  the  same  year.  It  has  also  recently  been  included  in  the  prestigious  Legal  500.

The  Sethi  Partnership  Solicitors  can  boast  an  experienced  team  of  lawyers  who  can  assist  in  all  areas  of  law.  Having  committed  to  an  Investors  in  People  DFFUHGLWDWLRQ \HDUV DJR WKH ÂżUP KDV invested  in  staff  training,  resulting  in  less Â

A s i a n We a l t h M a g . c o . u k

LEFT: RITU SETHI AND THE TEAM IN 1999, AND TODAY, ABOVE.

staff  turnover  and  a  boost  in  morale.  The  vast  majority  of  its  work  comes  from  personal  recommendations  by   VDWLV¿HG FOLHQWV 7KH ¿UP LV ZHOO NQRZQ in  the  area  and  by  communities  both  locally  and  nationally.  It  has  business  contacts  with  banks,  building  socie-­ ties,  surveyors,  estate  agents,  brokers,  accountants,  courts,  police  stations,  and  agencies  whose  specialised  expertise   can  help  its  clients.

7KH ÂżUP ZRUNV FORVHO\ ZLWK LWV FOLHQWV whether  they  are  embarking  on  buy-­ ing  freehold  or  a  leasehold  property  or Â

business,  navigating  the  intricacies  of  immigration  law,  entering  into  divorce  proceedings,  probate  law,  civil  or  commercial  litigation  or  criminal  law.  Its  clients  are  always  kept  informed  of  matters  and  have  regular  communication  with  the  solicitor  dealing  with  their  case.  It  is  determined  to  deliver  an  impeccable  level  of  service  ensuring  clients  receive  the  best  possible  outcome,  whatever  their  situation,  with  care  and  integrity.

The  Sethi  Partnership  teamâ&#x20AC;&#x2122;s  aim  is  to  give  to  its  clients  the  care,  courtesy  and  competent  attention  which  their  affairs  merit  and  ensure  that  they  receive  impartial  and  independent  legal  advice  at  competitive  prices.

Contact  us  now  on  info@sethi.co.uk   or  020  8866  6464  to  discuss  all  your  legal  matters.

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A s i a n We a l t h M a g . c o . u k

Charity

Oxfam works tirelessly in Asia to get one step closer to its dream of eradicating poverty for good. Here, its south Asian engagement manager, Kalyani-Ghandi Rhodes, tells AWM about its history in the region.

RAISING AWARENESS IN ASIA THINK  OF  ANY  MAJOR  EMERGENCY  in  Asia  since  1951  and  Oxfam  has  been  there.  From  famine  in  India  in  the  1950s  to  post-­war  Kampuchea  in  the  1970s;  from  the  Vietnam  war  in  the  1960s  to  the  Bhopal  gas  tragedy  in  1984.  We  have  helped  SHRSOH DIIHFWHG E\ WKH (DVW DQG :HVW 7LPRU FRQĂ&#x20AC;LFW LQ DQG provided  vital  aid  following  the  Indian  Ocean  tsunami  in  2004.  Over  the  years,  Oxfam  has  helped  millions  of  people  caught  up  in  Asiaâ&#x20AC;&#x2122;s  worst  disasters.

Our  approach  has  grown  from  emergency  responses  to   long-­term  development,  working  through  partners  and  directly  with  communities  to  help  poor  people  solve  their  own  problems.  For  example,  a  small  dairy  project  that  Oxfam  supported  in   India  in  1962  (pictured,  above)  has  thrived  and  grown  to   become  AMUL  (Anand  Milk  Union),  the  biggest  milk  producer  in  the  country.  In  Sri  Lanka,  weâ&#x20AC;&#x2122;ve  helped  over  1700  women  whose  livelihoods  were  destroyed  by  the  tsunami  to  get  back   RQ WUDFN UXQQLQJ SURÂżWDEOH FRLU EXVLQHVVHV $FURVV VRXWK $VLD  a  campaign  to  raise  awareness  about  violence  against  women  and  changing  both  attitudes  and  behaviour  has  reached  six   million  people.

Bringing  about  the  changes  poor  people  want  and  need  means  speaking  out  for  their  interests  and  with  them  at  the  highest  lev-­ els.  Thanks  to  the  way  Oxfam  works  directly  with  communities,  we  are  well  placed  to  lobby  in  support  of  the  poorest  people  â&#x20AC;&#x201C;  be  it  with  local  authorities,  government  ministers  or  at  the  UN.  Our  global  reach  and  years  of  experience  give  us  the  authority  and  credibility  to  talk  to  the  people  at  the  top  about  what  is  happen-­ ing  right  at  the  bottom. Â

A s i a n We a l t h M a g . c o . u k

As  Oxfam  has  been  working  in  the  subcontinent  since  1951,  this  creates  a  natural  impetus  to  work  closely  with  Asian  leaders  and  communities  in  the  UK  in  supporting  our  programmes  in  Asia.  Asian  diasporas  are  powerful  drivers  of  development,  investment,  innovations  and  skills  and  we  are  increasing  our  engagement  through  philanthropy,  corporate  partnerships  and  support  from  trusts  and  foundations.  Our  partnership  with  the  Asian  Awards  supports  us  in  achieving  these  ambitions.   Oxfam  CEO,  Mark  Goldring  recently  said  of  the  Awards:  â&#x20AC;&#x153;Oxfam  is  honoured  to  be  working  with  the  Asian  Awards  to  KLJKOLJKW VLJQLÂżFDQW DFKLHYHPHQWV LQ WKH JOREDO $VLDQ FRP-­ munity.  We  also  recognise  and  support  the  achievements  of  people  who  have  lifted  themselves  out  of  poverty  all  around  the  world.  Oxfam  have  been  working  in  Asia  for  over  60  years  and  will  continue  to  work  closely  with  the  Asian  community  to  help  alleviate  poverty.â&#x20AC;?  Oxfam  is  a  global  movement  of  passionate  people  with  a   single  objective:  To  end  poverty.  It  is  a  massive  challenge.  Weâ&#x20AC;&#x2122;re  ambitious,  but  with  good  reason:  more  than  one  billion  people  worldwide  face  poverty  and  hunger  every  day.  In  a  ZHDOWK\ ZRUOG SRYHUW\ LV SUHYHQWDEOH DQG XQMXVWLÂżDEOH Âą DQG everyone  has  the  responsibility  to  end  it.  We  are  winning  the  battle  in  all  sorts  of  ways,  big  and  small.  Supporting  Oxfam  can,  and  does,  make  a  difference.  Together,  we  can  lift  lives  for  good.

2[IDP LV WKH RIÂżFLDO FKDULW\ RI WKH $VLDQ $ZDUGV 7R ÂżQG RXW PRUH DERXW LW DQG WR KHOS WR VXSSRUW LWV ZRUN JR WR oxfam.org.uk.

59

Sipra Deb, founder of The Play Arena, went from molecular biologist to teacher, mother and entrepreneur. Family tragedy made her realise the importance of living life to the full and as a result her business continues to succeed by bringing families together.

Ellie Parsons reports.

Play time has SIPRA  DEB  WAS  AN  ACCIDENTAL  ENTREPRENEUR.  Losing  a  parent  and  having  children  of  her  own  reinforced  the  importance  of  family  and  prompted  her  to  set  up  The  Play  Arena,  which  is  among  the  largest  childrenâ&#x20AC;&#x2122;s  entertainment  centres  in  the  country.  Sipra  was  born  in  Ethiopia  and  spent  her  childhood  in  Africa.  Her  Indian  parents  were  teachers  and  came  to  the  UK  when  she  was  14.  She  became  a  molecular  biologist  specialising  in  genetic  engineering  and  genetic  disease  mechanisms.  â&#x20AC;&#x153;My  parents  wanted  me  to  become  a  doctor,  and  I  came  close  but  the  path  from  scientist  to  entrepreneur  really  happened  as  a  force  of  circumstance,â&#x20AC;?  she  says.  In  2004,  Sipraâ&#x20AC;&#x2122;s  father,  Protul  Deb,  was  kidnapped  in  Assam,  India  while  on  a  business  trip.  Sipra  battled  with  the  %ULWLVK DQG ,QGLDQ DXWKRULWLHV WR ÂżQG KLP â&#x20AC;&#x153;In  a  country  like  India,  this  task  was  like  looking  for  a  needle  in  a  haystack.  How-­

60

ever,  I  never  believed  I  would  fail,â&#x20AC;?  she  says.  Shortly  after  the  abduction,  Sipra  went  to  India  to  negotiate  with  the  kid-­ nappers  and  paid  a  ransom,  however  her  father  was  not  returned.  â&#x20AC;&#x153;Twenty  months  of  struggle  and  heart-­wrenching  pain  resulted  in  an  enquiry  by  Indiaâ&#x20AC;&#x2122;s  Central  Bureau  of  Investigation,  which  eventu-­ ally  led  to  the  discovery  of  the  remains  of  my  beloved  father.  To  the  world,  I  had  won  a  battle,  to  me  I  had  lost  my  most  precious  possession.â&#x20AC;?

Sipraâ&#x20AC;&#x2122;s  father  is  believed  to  have  been  murdered  for  political  reasons  and  the  trial  continues.  â&#x20AC;&#x153;This  tragedy  changed  my  outlook,â&#x20AC;?  she  says.  â&#x20AC;&#x153;I  began  to  question  what  path  my  life  was  going  in.  Through  my  loss,  I  gained  my  most  valu-­ able  insight:  To  succeed,  you  need  to  be  driven  but  as  long  as  you  are  true  to  your  cause  and  work  ethically  then  victory  will  be  yours.â&#x20AC;?

6LSUD PRYHG WR 6KHIÂżHOG WR PDUU\ DQG

KDG WKUHH ER\V QRZ DJHG VHYHQ ÂżYH DQG two.  Jobs  in  research  were  scarce  so  she  retrained  as  a  science  teacher  and  taught  for  six  years.  As  a  mother,  she  found  it  GLIÂżFXOW WR ÂżQG JRRG FKLOGUHQÂśV HQWHU-­ tainment  in  the  city  and  The  Play  Arena  plugged  a  gap.  â&#x20AC;&#x153;We  visited  so  many  events  and  every  time  I  came  away  think-­ ing  there  was  a  lack  in  the  market.  We  seemed  to  be  stuck  between  unimagina-­ tive  play  barns  or  massive  theme  parks.  Eventually  my  thoughts  crystallised  into  what  became  The  Play  Arena,  which  opened  in  August  2011,  when  I  was  39.â&#x20AC;?

It  took  a  year  and  a  half  to  plan  and  re-­ search  the  business  â&#x20AC;&#x201C;  the  cost  of  childcare  has  risen  19%  in  the  last  year  and  soared  by  77%  over  the  past  decade  â&#x20AC;&#x201C;  which  has  since  exceeded  forecasts  and  continued  to  increase  in  visitor  numbers.  Some-­ times  the  simplest  business  concepts  are  the  best  but  it  wasnâ&#x20AC;&#x2122;t  easy  launching  The  Play  Arena.  â&#x20AC;&#x153;With  no  previous  experi-­

A s i a n We a l t h M a g . c o . u k

Interview

just begun ence  in  business  and  very  little  funding  to  get  such  a  massive  project  off  the  ground,  things  at  times  did  feel  impossible,  but  I  donâ&#x20AC;&#x2122;t  believe  in  giving  up.  I  wrote  a  com-­ prehensive  business  plan  and  approached  six  banks.  Incredibly,  all  six  came  up  with  offers  of  funding  and  so  that  set  the  pace  and  I  forged  ahead.â&#x20AC;?

At  the  time,  Sipra  was  pregnant  with  her  third  son  and  when  her  company  opened  she  would  take  her  two-­month-­ old  to  work  every  day.  â&#x20AC;&#x153;It  was  harder Â

â&#x20AC;&#x2DC;â&#x20AC;&#x2DC;

than  I  ever  imagined  it  to  be,â&#x20AC;?  she  says.  Last  year,  Sipra  gained  recognition  for  her  efforts,  winning  local,  regional  and  na-­ tional  awards,  including  the  Asian  Women  of  Achievement  accolade  for  entrepre-­ neurship.  â&#x20AC;&#x153;It  was  a  boost  for  my  team  and  gave  me  the  will  to  carry  on.  Iâ&#x20AC;&#x2122;ll  continue  to  make  a  difference,â&#x20AC;?  she  says.  The  Play  Arena  makes  innovation  D SULRULW\ Âą LW ZDV WKH ÂżUVW WR ODXQFK 6N\5LGHU ZKLFK DOORZV SHRSOH WR ÂľĂ&#x20AC;\Âś with  the  use  of  a  harness.  Sipraâ&#x20AC;&#x2122;s  also Â

To succeed, you need to be driven but as long as you are true to your cause and work ethically

then victory will be yours.

A s i a n We a l t h M a g . c o . u k

forward-­thinking  when  it  comes  to  digital  technology,  with  an  interactive  play  area.  â&#x20AC;&#x153;We  need  to  accept  that  this  is  the  age  of  digital  technology  and  rather  than  seeing  it  as  a  negative,  we  need  to  embrace  it  and  where  children  are  concerned,  we  need  to  channel  it  correctly,â&#x20AC;?  she  says.  The  centre  could  well  be  moulding  the  entrepreneurs  and  scientists  of  tomorrow  DQG WKHUH DUH ERXQG WR EH PRUH ÂżUVWV LQ childcare  from  Sipra.  â&#x20AC;&#x153;The  initial  few  years  of  any  start-­up  business  are  always  WKH PRVW GLIÂżFXOW :H DUH MXVW FRPLQJ through  this  period.  The  Play  Arena  ZDV DOZD\V VHW XS DV WKH ÂżUVW VWHSSLQJ stone  along  the  journey,â&#x20AC;?  she  says.  â&#x20AC;&#x153;Iâ&#x20AC;&#x2122;m  now  looking  at  various  possibilities  of  expansion  both  on  a  national  as  well  as  international  platform.  Itâ&#x20AC;&#x2122;s  early  days   yet,  so  youâ&#x20AC;&#x2122;ll  have  to  keep  watching   this  space.â&#x20AC;? theplayarena.com

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ICONIC HOTELS IN ICONIC PLACES

TIMELESS GLAMOUR THE EXQUISITE DECOR. THE ATTENTION TO DETAIL THE SPARKLE OF CRYSTAL. A DRAMATIC BACKGROUND. A LASTING IMPRESSION. WEDDINGS AT THE DORCHESTER.

62

LONDON

I

+44 20 7629 8888

I

DORCHESTERCOLLECTION.COM A s i a n We a l t h M a g . c o . u k

Branding

WHATâ&#x20AC;&#x2122;S IN A

name?

w

HEN  YOUR  COMPANY  name  is  synonymous  with  the  main  generic  drink  it  sells,  something  about  the  branding  has  worked,  and  if  I  said  I  was  popping  out  for  a  Starbucks,  you  would  not  expect  me  to  come  back  with  a  paper  cup  full  of  wine.  So  when  CEO  of  Starbucks,  Howard  Schultz,  talks  about  branding,  the  busi-­ ness  world  would  do  well  to  listen.  â&#x20AC;&#x153;In  this  ever-­changing  society,  the  most  pow-­ erful  and  enduring  brands  are  built  from  the  heart.  They  are  real  and  sustainable.  Their  foundations  are  stronger  because  they  are  built  with  the  strength  of  the  human  spirit,  not  an  ad  campaign.  The  companies  that  are  lasting  are  those  that  are  authentic,â&#x20AC;?  claims  Howard.

There  are  some  business  concepts  that  DUH GLIÂż FXOW WR SXW D UHDO YDOXH RQ EXW D companyâ&#x20AC;&#x2122;s  brand  is  not  one  of  them.  According  Millward  Brown  Optimoâ&#x20AC;&#x2122;s  2013  BrandZ  list,  last  yearâ&#x20AC;&#x2122;s  most  valu-­ able  brands  hit  an  incredible  $2.6tn.

While  Apple  kept  its  top  slot  in  the  rankings  this  year  because  of  the  strength  of  its  brand,  with  a  value  of  $185.1bn,  others  in  the  top  10  brands  included  Google  ($113.7bn),  IBM  ($112.5bn),  McDonaldâ&#x20AC;&#x2122;s  ($90.3bn)  and  Coca-­Cola  ($78.4bn). Â

A s i a n We a l t h M a g . c o . u k

Well, it turns out, quite a lot. But there is more than just a catchy play on words to an effective and recognisable brand, as Beth Holmes finds out.

Global  BrandZ  director  Peter  Walshe  believes  that  the  most  successful  brands  are  a  balance  of  local  and  global  strength,  diversifying  into  new  areas  of  business,  having  a  strong  corporate  brand  and  either  being  a  premium  or  everyday  brand.

The  highest  riser  was  sandwich  brand  Subway  with  a  value  of  $16.7bn  and  showing  growth  of  5,798%  since  the  rankings  began  in  2006.  The  most  valuable  British  brand  is  Vodafone  coming  in  at  $39.7bn In  banking,  global  banks  were  worth  $107bn  (up  23%  in  the  past  year),  while  regional  banks  were  worth  $236bn  (up  15%).

Meanwhile,  although  the  technology  DQG WHOHFRPV FDWHJRULHV UHPDLQHG Ă&#x20AC; DW LQ value,  they  still  dominated  the  top  100.  Half  of  the  top  10  brands  and  28  out  of  the  top  100  are  in  this  sector.  Together  they  account  for  40%  by  value  of  the  top  100.

One  of  the  reasons  for  the  success  in  WHOHFRPV LV GLYHUVLÂż FDWLRQ DQG WKLV LQ particular  paid  off  for  Chinese  internet  service  portal  Tencent,  which  expanded  its  offering  to  compete  with  the  likes  of  Facebook,  Twitter  and  Google.  It  is  worth  $27.3bn  this  year,  up  $9.3bn  from  last  year.  The  UKâ&#x20AC;&#x2122;s  big  newcomer  BT  is  a  good  example,  being  worth  $9.5bn.  For  all  the  brands,  customers  in  Russia,  China,  India  and  the  Middle  East  have Â

63

â&#x20AC;&#x2DC;â&#x20AC;&#x2DC;

become  global  customers  according  to  the  report.

So  how  and  why  is  branding  so  impor-­ tant  and  how  can  companies  of  all  sizes  make  sure  they  develop  their  brand  to  the  best  of  their  abilities?

Andrew  Lawrence,  creative  direc-­ tor  at  branding  consultancy  Elmwood,  says:  â&#x20AC;&#x153;In  its  base  form,  branding  enables  consumers  to  identify  goods  and  services  that  a  company  is  selling.  A  logo  is  the  initial  step  as  it  enables  the  consumer  to  identify  the  company  and  product.  â&#x20AC;&#x153;A  brand,  however,  allows  consum-­ ers  to  not  only  identify  the  company  but  elevates  and  differentiates  the  products  or  services.  Branding  is  imperative  for Â

Coca Cola has its own original signature

and unique graphic marque, these can be used on their own or together

and the customer will still know who it is

64

the  storm.â&#x20AC;?

If  you  look  at  todayâ&#x20AC;&#x2122;s  retail  space,  it  is  easy  to  point  out  thousands  of  fruit-­ ful  brand  stories.  A  successful  existing  brand  that  understands  what  they  stand  for  and  knows  their  core  brand  assets  are.  The  classic  example,  says  Andrew,  is  Coca  Cola.  â&#x20AC;&#x153;Coca  Cola  is  able  to  use  these  brand  assets  as  its  core  strengths,  i.e.  colour  â&#x20AC;&#x201C;  red;  shape  â&#x20AC;&#x201C;  bottle/can.  The  brand  has  its  own  original  signature  and  unique  graphic  marque,  these  can  be  used  on  their  own  or  together  and  the  customer  will  still  know  who  it  is.  To  be  able  to  achieve  this  is  a  clear  example  of  successful  branding.â&#x20AC;?  â&#x20AC;&#x153;Then  there  are  the  challenger  brands,â&#x20AC;?  he  adds.  â&#x20AC;&#x153;Smaller  brands  that  take  on  the  might  of  the  bigger  brands  but  with  a  unique  or  distinctive  point  of  view.  A  great  example  of  this  is  The  Saucy  Fish  Company.  The  companyâ&#x20AC;&#x2122;s  aim  was  to  PDNH SHRSOH WKLQN DJDLQ DERXW IUHVK Âż VK and  take  some  of  the  fear  out  of  cooking  it.  Elmwood  worked  with  The  Saucy  Fish  Company  to  identify  a  unique  proposi-­ tion.  The  brand  and  pack  design  created  something  new  in  the  marketplace  and  presented  the  product  on  shelf  in  a  way  that  not  been  seen  before.  The  Saucy  Fish  Company  is  now  viewed  as  a  â&#x20AC;&#x2DC;cool  brandâ&#x20AC;&#x2122;  with  both  consumers  and  industry  alike.â&#x20AC;?

e

businesses  because,  when  implemented  successfully,  the  consumer  will  choose  your  brand  over  your  competitors.  A  strong  brand  generates  a  connection  with  the  consumer,  the  emotional  desire  state  shifts  from  needing  the  brand  into  wanting  the  brand.â&#x20AC;?

Regardless  of  size,  a  company  can  measure  brand  strength  through  a  variety  of  factors;  market  share,  price  VHQVLWLYLW\ SURÂż WDELOLW\ UHYHQXHV PDU keting  investments,  growth  rate,  cost  to  acquire  new  customers  and  cost  to  retain  customers.  â&#x20AC;&#x153;One  of  the  most  interesting  measures  I  have  seen  in  recent  years  is  the  meas-­ urement  of  brand  love,â&#x20AC;?  says  Andrew.  â&#x20AC;&#x153;Elmwood  calculated  and  increased  â&#x20AC;&#x2DC;brand  loveâ&#x20AC;&#x2122;  for  Andrex  back  in  2012  with  the  rebrand  and  redesign  of  the  toilet  roll  product.  Following  the  rebrand,  the  consumer  bonding  rate  with  the  Andrex  brand  increased  by  32%.  Brand  strength  is  particularly  important  in  the  current  market  as  consumers  can  easily  trade  down  to  save  money.  Brands  that  con-­ sumers  truly  love  and  wonâ&#x20AC;&#x2DC;t  do  without  despite  their  price  tag,  are  set  to  weather Â

ntrepreneur  Rashid  Ahmad  faced  an  interesting  branding  challenge  a  few  years  ago  after  founding  a  new  sport  â&#x20AC;&#x201C;  touchtennis.  â&#x20AC;&#x153;The  sport  itself  began  as  a  means  of  amusing  my  daughter  when  she  was  two  or  three  years  old,â&#x20AC;?  he  explains.  â&#x20AC;&#x153;When  my  friends  came  by  we  would  play  this  odd  adaptation  of  tennis  for  so  long  weâ&#x20AC;&#x2122;d  forget  our  tennis  court  booking  and  stay  in  the  garden  battling  it  out.â&#x20AC;?

6R 5DVKLG GHFLGHG WR PDNH LW RIÂż FLDO and  launch  touchtennis  as  a  brand  new  sport.  â&#x20AC;&#x153;The  game  developed  more  and  PRUH XQWLO Âż QDOO\ ZH VWDQGDUGLVHG WKH court  size  and  the  racquet  length.  We  also  GHFLGHG RQH EDOO VKRXOG EH WKH RIÂż FLDO EDOO :KHQ ZH Âż UVW KDG D ORJR LW ZDV MXVW something  knocked  together  by  the  web  designer.  The  second  logo  â&#x20AC;&#x201C;  the  one  you  see  today  â&#x20AC;&#x201C;  was  much  more  aggressive.â&#x20AC;?  Like  many  entrepreneurs  and  start  ups,  Rashid  has  used  technology  to Â

A s i a n We a l t h M a g . c o . u k

PHOTOGRAPH BY ROB SMITH

CONSISTENT LOGOS ON SOCIAL MEDIA, SUCH AS FACEBOOK, WAS VITAL WHEN RASHID, RIGHT, STARTING THE SPORTING BRAND

help  create  and  promote  the  touchten-­ nis  brand.  â&#x20AC;&#x153;Predominantly  through  the  use  of  Facebook,  Youtube  and  Twitter,  weâ&#x20AC;&#x2122;ve  captured  attention  from  tennis  professionals  and  amateur  park  players.  Iâ&#x20AC;&#x2122;ve  stuck  to  brand  guidelines  and  asked  people  to  use  the  wording  â&#x20AC;&#x153;touchtennisâ&#x20AC;?  rather  than  separate  the  words  so  that  we  top  the  google  searches.  This  has  helped  immensely.  The  sport  would  never  have  grown  this  fast  were  it  not  for  social  me-­ dia  and  the  banter  associated  with  it.â&#x20AC;?  There  are  40  tour  events  a  year  around  the  world  and  the  sport  is  played  in  21  countries.  Rashidâ&#x20AC;&#x2122;s  dream  â&#x20AC;&#x201C;  that  the  touchtennis  brand  will  be  seen  as  the  equivalent  of  cricketâ&#x20AC;&#x2122;s  20:20  or  5-­a-­side  football  and  be  the  cheap  and  accessible  side  of  tennis  â&#x20AC;&#x201C;  is  on  its  way  to  becoming  a  reality.

Meanwhile,  his  use  of  technology  is  mirrored  by  businesswoman  Alison  Ramsay,  who  started  up  The  Art  Agency  almost  18  months  ago,  and  is  a  huge  proponent  of  brand  building.  â&#x20AC;&#x153;We  are  building  our  brand  as  more  than  just  an  art  gallery,â&#x20AC;?  she  says.  â&#x20AC;&#x153;We  fo-­ cus  on  great  customer  service,  a  friendly  approach  and  lots  of  interaction  with  our  local  community  via  Meet  the  Artists  events,  art  classes  and  workshops  run  by  our  featured  artists.   We  are  a  refreshing  experience  rather  than  an  intimidating  or  stuffy  one.â&#x20AC;?

Alison  explains  she  uses  Facebook, Â

A s i a n We a l t h M a g . c o . u k

Twitter,  the  company  website  and  blog  to  keep  the  information  about  the  company  and  its  artwork  current.  â&#x20AC;&#x153;We  try  to  be  imaginative  with  our  posts  rather  than  just  trying  to  sell,  sell,  sell  â&#x20AC;&#x201C;  although  we  have  made  sales  as  a  direct  result  of  Facebook  posts.   We  also  advertise  regu-­ larly  in  local  magazines  and  of  course  we  are  shameless  in  our  personal  promotion  of  our  brand  â&#x20AC;&#x201C;  we  make  sure  we  tell  everyone  we  meet  about  the  gallery  even  when  in  the  dentistâ&#x20AC;&#x2122;s  chair!â&#x20AC;? â&#x20AC;&#x153;We  are  attracting  new  artists  to  show  with  us,  despite  being  a  small  gallery,  be-­ cause  we  have  a  very  proactive  approach  to  representing  their  work  and  we  are  building  a  loyal  customer  base  because  of  the  breadth  of  our  portfolio  and  the  service  we  offer,â&#x20AC;?  she  explains.

This  idea  of  giving  a  brand  a  personal-­ LW\ EH\RQG WKH FRQÂż QHV RI D WXUJLG EXVL ness  model  is  something  that  the  team  at  Elmwood  are  passionate  about,  and  they  work  with  clients  of  all  sizes  to  help  them  realise  their  potential. â&#x20AC;&#x153;We  help  companies  build  their  brand  by  not  only  working  with  the  graphic  equities  but  by  looking  at  the  values  and  personality  that  a  brand  expresses,â&#x20AC;?  says  Andrew.  â&#x20AC;&#x153;A  big  part  of  this  is  tone  of  voice,  how  a  brand  speaks  and  expresses  itself  in  the  written  word  i.e.  on  packag-­ ing,  advertising.  This  is  a  key  factor  that  many  companies  underestimate  in  build-­ ing  their  brand,  on  many  occasions  we Â

have  conducted  workshops  with  internal  stakeholders  if  we  feel  a  change  in  tone  of  voice  is  necessary,â&#x20AC;?  he  explains.  And  whether  you  have  one  employee  or  many  hundreds,  it  is  important  to  get  everyone  associated  with  the  company  on  board. â&#x20AC;&#x153;Building  a  strong  brand  culture  starts  with  people,â&#x20AC;?  says  Andrew.  â&#x20AC;&#x153;When  it  comes  to  creating  a  company  culture,  people  are  your  greatest  asset.  The  look  of  a  companyâ&#x20AC;&#x2122;s  website  design,  mobile  app  and  advertising  campaigns  are  all  important  but  the  voice  of  the  companyâ&#x20AC;&#x2122;s  employees  is  even  more  important.  â&#x20AC;&#x153;Everyone  in  a  company  may  not  be  likeminded  so  persuading  those  to  embrace  company  culture  can  be  tricky  but  the  companies  that  nurture  a  distinct  brand  culture  in  the  work  place  will  have  a  distinct  brand  culture  in  the  market-­ place.  Every  rebrand  is  followed  by  a  colleague  engagement  plan,  companies  that  focus  on  developing  its  people  and  relationships  to  work  together  under  one  roof  will  strengthen  the  companyâ&#x20AC;&#x2122;s  identity.â&#x20AC;?

As  Sudio  Sudarsan,  a  brand  reality  strategist  at  Manhattan-­based  brand  FRQVXOWLQJ Âż UP SRZHU1 FRQFOXGHV â&#x20AC;&#x153;Brand  is  a  noun.  It  is  a  verb.  It  may  be  about  what  we  do.  But,  overall,  it  is  all  about  what  is  in  the  mind  â&#x20AC;&#x201C;  the  mind  of  the  consumer  and  the  mind  of  the  employee.â&#x20AC;?

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Rising smoke Pioneers of electronic cigarettes, Taz and Umer Sheikh have paved the way for the now booming sector. Nima Suchak meets the brothers who are not ready to exhale yet.

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A s i a n We a l t h M a g . c o . u k

Interview

t

HE SMOKING BAN SPELLED MISERY FOR THOSE THAT TREASURED THEIR NICOTINE HIT. But entrepreneurs Taz and Umer Sheikh capitalised on England going smoke-­free and founded Gamucci, the 8.¶V ¿ UVW HOHFWURQLF FLJDUHWWH EUDQG “Prior to starting Gamucci I was smoking 10-­20 a day depending on how stressful my day was,” says Umer as he exhales on his electronic cigarette. “But I haven’t smoked a combustible FLJDUHWWH IRU RYHU ¿ YH \HDUV QRZ ´ Announced in 2006, England became the last part of the UK to introduce legislation banning smoking in workplaces and enclosed public spaces. The aim was to reduce passive smok-­ ing, or exposure to second-­hand smoke, which is known to be harmful.

Umer read about a company in China that had invented an electronic cigarette, which was not available in Europe or the USA. “I managed to get the product, followed the instructions, and put it in my mouth,” he recalls. “It was an interesting experience but it broke within two hours. Disap-­ pointed to say the least, I ordered a replacement and it only lasted about a week.” That initial ex-­ perience was a ‘light bulb’ moment. “We thought we could do better than this – and that it could potentially be the future of smoking.”

Taz and Umer went to China and hired an engineering team to help them understand how electronic cigarettes worked. Over the next nine to 12 months, they worked on various prototypes and design technologies to try and make a better product than they had initially seen.

“I immersed myself into the technology,” says

A s i a n We a l t h M a g . c o . u k

69

Inspired by a rich family heritage originating from the deserts of 7th century Rajasthan, Ajmere is an exciting new luxury fusion dessert brand which combines the very best of British and exotic Indian f lavours.

Our exclusive dessert concierge service allows our specialist patisserie chefs to handcraft elegant, mouth-watering and self-indulgent dessert experiences for the hospitality industry as well as your prestigious corporate events and special occasions.

Ajmere’s luxurious gourmet desserts will ensure a perfect sweet end to your truly memorable event.

Call us today or f ind us online:

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/Ajmereltd

@Ajmereltd

www.Ajmere.co.uk 70

info@ajmere.co.uk

A s i a n We a l t h M a g . c o . u k

POTENTIAL CUSTOMERS LEARN ABOUT THE BENEFITS OF THE PRODUCTS AND HOW TO USE THEM

Umer.  â&#x20AC;&#x153;I  was  excited  about  the  product,  and  even  without  an  engineering  back-­ ground  â&#x20AC;&#x201C;  needed  to  understand  how  the  technology  worked.  We  are  creative  and  NQHZ ZH ZRXOG ÂżQG D ZD\ WR DFKLHYH something  if  we  put  our  minds  to  it.â&#x20AC;?

The  team  took  the  bare  bones  of  the  weaker  technology  and  worked  to  integrate  the  atomizer  into  the  nicotine  cartridge,  pioneering  the  cartomizer  e-­cigarette  technology.  Gamucci  has  re-­ cently  been  awarded  the  UK  patent  for  its  technology,  which  includes  the  integrated  HOHFWURQLF FLJDUHWWH DQG FDUWRPL]HU UHÂżOO The  brothers  attribute  their  business  ethics  to  their  upbringing.  â&#x20AC;&#x153;Our  parents  were  business  owners  who  ran  a  retail  clothing  business  which  then  developed  into  wholesale  and  manufacturing,â&#x20AC;?  says  Taz.  â&#x20AC;&#x153;From  a  very  early  age,  it  was  normal  for  us  to  go  with  them  on  stock-­ buying  trips  to  the  wholesalers.â&#x20AC;?

Taz  started  his  career  in  IT  recruitment  and  Umer  followed  in  his  footsteps.  They  ODXQFKHG WKHLU ÂżUVW EXVLQHVV YHQWXUH together  â&#x20AC;&#x201C;  an  IT  recruitment  consultancy  DQG VRIWZDUH GHYHORSPHQW ÂżUP 5 ,QWHU-­

â&#x20AC;&#x2DC;â&#x20AC;&#x2DC;

a  long-­term  view  so  we  started  with  the  end  in  mind.â&#x20AC;?  Gamucci  was  launched  in  2007.  It  was  one  of  only  three  global  brands  selling  HOHFWURQLF FLJDUHWWHV DQG WKH ÂżUVW WR HQWHU the  European  market.  All  products  are  QRQ Ă&#x20AC;DPPDEOH DQG XVH PLFUR HOHFWURQLF technology  to  provide  an  alternative  VPRNLQJ H[SHULHQFH ZLWKRXW WKH Ă&#x20AC;DPH ash,  tar,  and  4000  chemicals  found  in  tobacco  smoke.  The  brothers  took  the  opportunity  to  launch  the  product  at  a  trade  show  at  the  NEC  Birmingham  in  February  2008.  â&#x20AC;&#x153;The  exhibitors  were  unsure  whether  to  let  us  exhibit  electronic  cigarettes  on  WKH SUHPLVHV DQG LW ZDV DOVR GLIÂżFXOW IRU

Within  18  months,  Gamucci  products  were  sold  in  55  countries  worldwide.  As  with  any  new  business,  and  particu-­ larly  in  any  new  technology,  the  journey  has  not  been  without  challenge.  â&#x20AC;&#x153;Thereâ&#x20AC;&#x2122;s  always  going  to  be  challenges,â&#x20AC;?  says  Taz.  As  pioneers  in  the  industry,  we  were  the  ¿UVW WR IDFH WKH PDLQ REVWDFOHV LQ JURZLQJ an  electronic  cigarette  brand. â&#x20AC;&#x153;As  it  gained  momentum,  we  realised  we  were  the  victims  of  our  own  success.  As  a  brand,  Gamucci  helped  to  spawn  a  new  industry  and  many  of  our  early  dis-­ tributors  ended  up  being  brands  in  their  own  right.  As  the  business  grew,  so  did  the  competitive  landscape,â&#x20AC;?  he  adds. â&#x20AC;&#x153;It  was  a  real  learning  experience,â&#x20AC;? Â

We had no idea what the market reaction would be towards electronic cigarettes, but ...our instincts told us that this definitely was an opportunity

QDWLRQDO ZLWK RIÂżFHV LQ %DQJDORUH 7KH experience  of  creating  an  international  business  and  building  international  teams  proved  to  be  invaluable  in  their  venture  into  electronic  cigarettes.  â&#x20AC;&#x153;We  had  no  idea  what  the  market  reaction  would  be  towards  electronic  cigarettes,  but  having  come  from  a  busi-­ ness  family,  and  having  launched  our  own  business,  our  instincts  told  us  that  WKLV GHÂżQLWHO\ ZDV DQ RSSRUWXQLW\ &RP-­ ing  from  the  IT  software  service  sector,  we  were  unfamiliar  selling  a  product  like  an  electronic  cigarette  within  the  FMCG  sector.  We  decided  to  invest  in  this   business,  and  see  where  it  went.  We  took Â

A s i a n We a l t h M a g . c o . u k

them  to  categorise  us,â&#x20AC;?  says  Taz.  Though  they  had  a  small,  unassuming  stand,  by  the  end  of  the  event,  Gamucci  was  the  talk  of  the  show  â&#x20AC;&#x201C;  not  just  among  the  exhibitors,  but  also  among  the  trade  FXVWRPHUV ,W ZDV FRQÂżUPDWLRQ WKDW WKHLU concept  had  serious  potential.  Because  of  the  infrastructure  of  their  existing  business,  Taz  and  Umer  were  able  to  set  up  a  small  team  of  salespeople  based  in  Bangalore  who  also  acted  as  FXVWRPHU VHUYLFH DQG EDFN RIÂżFH RSHUD-­ tions.  The  business  grew,  not  only  in  the  hospitality  sector,  but  online,  and  within  the  pharmacy  sector.  They  were  getting  international  enquiries  almost  daily. Â

says  Umer.  â&#x20AC;&#x153;There  were  pending  regula-­ tions  within  the  UK  and  the  US,  and  because  of  the  nature  of  the  industry,  we  had  to  stay  ahead  by  evolving  the  prod-­ uct.  We  realised  very  quickly  that  in  order  to  tap  into  the  mass  market,  we  would  have  to  bring  the  price  point  down,  but  DOVR ZRUNHG WR ODXQFK WKH ZRUOGÂśV ÂżUVW disposable  electronic  cigarette,  an  idea  spurred  by  the  nature  of  the  US  market.â&#x20AC;?

Working  with  third-­party  contract  manufacturers  and  ensuring  they  would  PDNH WKH SURGXFW WR WKHLU VSHFL¿FDWLRQV was  a  huge  challenge  so  they  decided  to  set  up  their  own  manufacturing  plant.  They  recruited  a  good  team  and  im-­

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â&#x20AC;&#x2DC;â&#x20AC;&#x2DC;

Our ambitions are large, and we believe that electronic cigarettes are the future for the smoking landscape,

mersed  themselves  into  the  process  of  becoming  manufacturers.   â&#x20AC;&#x153;From  2006,  I  spent  every  other  month  out  in  China.  We  had  the  overall  exper-­ tise  for  our  contract  manufacturers  to  grasp  and  understand  the  core  processes  of  taking  our  technology  to  manufactur-­ ing  on  a  bigger  scale.  But  we  didnâ&#x20AC;&#x2122;t  have  the  expertise  of  setting  up  our  own  facil-­ ity  in  China,â&#x20AC;?  says  Umer.  By  2011  the  company  had  established  its  wholly-­owned  manufacturing  facility  in  Shenzhen,  China,  at  which  it  now  employs  more  than  400  people.  As  the  business  grew,  demand  was  increasing.  The  brothers  were  spread  thinly  and  decided  to  graduate  Gamucci  from  be-­ ing  a  family-­run  business,  to  adopting  a  corporate  model.  They  strengthened  their  management  WHDP ZLWK D QXPEHU RI KLJK SURÂżOH appointments.  CEO  Tony  Scanlan  has  worked  in  director  level  positions  in  big  tobacco  for  over  20  years.  They  also  took  RQ D &)2 WR WDNH FRQWURO RI WKH ÂżQDQFH function,  and  added  further  senior  level  executives,  a  head  of  sales,  and  a  CEO  for  US  operations.  Due  to  pending  regu-­ lation  within  the  sector,  they  also  took  on  an  associate  director  of  corporate  and  regulatory  affairs.  â&#x20AC;&#x153;Our  ambitions  are  large,  and  we  believe  that  electronic  cigarettes  are  the  future  for  the  smoking  landscape,â&#x20AC;?  says  Taz.  â&#x20AC;&#x153;We  realise  that  to  become  a  major  player,  we  have  to  grow  our  business  and  to  do  that,  we  need  investment.â&#x20AC;?  *DPXFFL LV FXUUHQWO\ LQ WKH ÂżQDO VWDJHV of  a  fundraising  exercise,  looking  to  raise  £20m  to  increase  manufacturing  capabili-­ ties  and  develop  its  main  markets.  It  is  looking  for  a  second  round  of  investment  9-­12  months  after  that.  The  team  is  now  looking  to  manufac-­ ture  the  â&#x20AC;&#x2DC;next  generationâ&#x20AC;&#x2122;  of  electronic  cigarette  and  vapour  devices,  and  also  looking  to  market  to  the  medical  world  for  licensed  medical  devices.  Though  electronic  cigarettes  are  likely  to  come  under  new  regulation,  WKH EURWKHUV DUH FRQÂżGHQW WKDW *DPXFFL

A s i a n We a l t h M a g . c o . u k

is  uniquely  prepared  for  this.  â&#x20AC;&#x153;The  manufacturing  side  of  the  business  comes  under  the  most  scrutiny,â&#x20AC;?  says  Taz.  â&#x20AC;&#x153;Our  facility  only  makes  Gamucci  products  and  as  we  own  and  manage  that  facility,  we  are  well-­positioned  to  adapt  to  any  changes  required.â&#x20AC;?

A  few  months  ago,  Gamucci  intro-­ duced  the  â&#x20AC;&#x2DC;Gamucci  Electronic  Cigarette  Zoneâ&#x20AC;&#x2122;  at  London  Heathrow.  Located  DLUVLGH LW LV WKH ÂżUVW GHVLJQDWHG LQGRRU area  where  passengers  can  enjoy  elec-­ tronic  cigarettes.  â&#x20AC;&#x153;We  are  both  frequent  travellers  and  understand  the  frustrations  smokers  have  once  they  go  through  security.  If  you  are  a  smoker,  youâ&#x20AC;&#x2122;re  stuck,â&#x20AC;?  says  Umer.  â&#x20AC;&#x153;We  are  in  some  way  allowing  smokers  who  havenâ&#x20AC;&#x2122;t  experi-­ enced  vaping  to  try  our  productsâ&#x20AC;Śwhat  better  place  than  an  airport  where  you  canâ&#x20AC;&#x2122;t  smoke.â&#x20AC;?  Gamucci  products  are  now  available   in  over  55  countries  worldwide  and   in  10,000  outlets  in  the  UK  alone,   including  stores  such  as  Waitrose,   Tesco  and  WHSmith.  Taz  tells  me  that  they  are  looking  at  rolling  out  the  vaping  lounge  model  to  other  transport  hubs.  â&#x20AC;&#x153;We  are  the  brainchild  behind  the  electronic  cigarette  industry  within  the  UK  and  honestly  believe  that  within  the  next  decade  or  so,  traditional  tobacco  cigarettes  will  become  obsolete,â&#x20AC;?  he Â

RELAXING IN THE VAPING ZONE IN LONDON HEATHROWâ&#x20AC;&#x2122;S TERMINAL 4.

says.  â&#x20AC;&#x153;People  will  be  consuming  nicotine  through  a  number  of  different  types  of  devices  minus  the  tobacco.  Currently  electronic  cigarettes  are  the  product  driv-­ ing  that  forward.â&#x20AC;? â&#x20AC;&#x153;We  believe  that  the  reason  we  are  different  is  because  not  only  do  we  have  a  good  management  team  that  mixes  entrepreneurial  talent  and  big  brand  tobacco,â&#x20AC;?  adds  Umer.  â&#x20AC;&#x153;We  are  the  only  vertically  integrated  electronic  cigarette  brand  where  we  own  our  manufacturing  facility,  have  full  control  over  our  supply  chain  and  distribution,  and  are  the  only  company  with  a  patent  for  the  cartomizer  technology.  Fundraising  will  allow  us  to  capitalise  on  these  fundamentals  to  become  a  major  player  worldwide.â&#x20AC;?  Gamucci  has  recently  launched  in  Spain  and  the  Netherlands,  and  is  in  the  process  of  launching  in  Russia.  The  brothers  are  now  looking  forward  to  launching  in  India.  â&#x20AC;&#x153;India  is  a  huge  op-­ portunity,â&#x20AC;?  says  Taz.  â&#x20AC;&#x153;The  USA  and  the  UK  are  a  core  focus,  but  India  could  be  largest  electronic  cigarette  market  in  the  future.â&#x20AC;?   gamucci.com

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With the surge in popularity of marketing through social media and online formats, one might be forgiven for believing that the only way to get your brand the coverage it deserves is through websites. However, as Andrew Stone finds out, traditional advertising still has some way to go before the party is over.

ADVERTISING IS DEAD?

long live

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Advertising

advertising!

A s i a n We a l t h M a g . c o . u k

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QUINTESSENTIAL BRITISH LEATHER GOODS SINCE 1934 www.ettinger.co.uk Tel: +44 (0)20 8877 1616

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t

Advertising

HE  INTERNET  HAS  KILLED  TRADITIONAL  ADVERTISING.  Traditional  ads  canâ&#x20AC;&#x2122;t  be  measured.  Young  people  hate  being  sold  to.  Everything  is  now  all  about  word  of  mouth  and  itâ&#x20AC;&#x2122;s  all  free  anyway.  That,  at  least,  is  the  received  wisdom  youâ&#x20AC;&#x2122;ll  hear  these  days  when  it  comes  to  marketing  your  products  or  services  or  building  a  brand.  And  there  is  no  doubt  that  the  advent  of  the  internet  and  social  media  have  changed  the  game.  They  have  challenged  traditional  advertising  and  massively  added  to  the  armoury  or  marketing  weapons  that  businesses  can  use.

But  reports  of  the  death  of  advertis-­ ing  have  been  greatly  exaggerated  and  traditional  advertising  mediums  still  have  a  powerful  reach.  A  report  from  US  advertising  company  MRI,  for  instance,  found  that  magazines  hold  the  biggest  LQĂ&#x20AC; XHQFH RYHU FRQVXPHUV

Itâ&#x20AC;&#x2122;s  counterintuitive  to  think  that  online  advertising  is  not  always  the  most  effec-­ tive  medium  but  print  has  a  tangibility  that  appeals  to  many  consumers,  giving  it  longer  life  as  they  are  passed  on  to  QHZ UHDGHUV VD\V 86 PDUNHWLQJ Âż UP Mcdaniels. â&#x20AC;&#x153;Magazines  offer  possibilities  for  incisive  targeting,  by  geography,  hobby,  profession,  interest  and  more,  as  well  as  high-­quality  advertising  thanks  to  high-­ quality  production.  Tendencies  toward  keeping  magazines  as  a  reference,  keep-­ sake  or  simply  for  future  reading  pleasure  give  them  an  extended  shelf  life  hard  to  match,â&#x20AC;?  it  states.

This  is  all  backed  up  by  research  from  software  company  Adobeâ&#x20AC;&#x2122;s  recent  Click  Here:  State  of  Online  Advertis-­ ing  study,  which  found  consumers  still  prefer  traditional  print,  TV  and  outdoor  advertising  to  newer  online  channels.  Print  magazines  were  voted  the  most  SRSXODU DGYHUWLVLQJ PHGLXP RI WKH SROO LQ WKH 8. DKHDG RI 79 DGV

DQG ZHEVLWHV

A s i a n We a l t h M a g . c o . u k

â&#x20AC;&#x2DC;â&#x20AC;&#x2DC;

Magazines offer possibilities for incisive targeting, by geography, hobby,

profession, interest and more, as well as high-quality advertising thanks to

high-quality production.

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Creative. Beautiful.

Made in London, desired Worldwide.

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indian inspired confectionery

devnaa.com

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Advertising The  good  news  for  entrepreneurs  and  owner  or  managers  of  growing  busi-­ nesses  is  that  they  are  likely  to  get  more  from  their  advertising  spend  whether  online,  in  print  or  broadcast  than  larger  ULYDOV $ UHSRUW FRQGXFWHG IRU WKH UK  Advertising  Association  found  that  VSHQGLQJ DQ DGGLWLRQDO Â&#x2026; RQ DGYHUWLVLQJ ZRXOG EHQHÂżW DQ 60( QHDUO\ HLJKW WLPHV as  much  relative  to  its  size  as  an  equiva-­ OHQW Â&#x2026; VSHQW E\ D ODUJHU EXVLQHVV In  fact,  a  lack  of  investment  in  ad-­ vertising  could  even  be  holding  SMEs  EDFN 7KH\ DFFRXQW IRU RQO\ RI WRWDO UK  advertising  spend,  even  though  they  FRQWULEXWH QHDUO\ RI 8. WXUQRYHU The  report  suggested  that  using  advertis-­ ing  could  help  to  raise  UK  SME  exports  WR WKH (8 DQG DGG Â&#x2026; EQ WR WKH HFRQRP\ â&#x20AC;&#x153;The  research  strongly  suggests  that  small,  high-­growth-­potential  businesses  are  under  investing,â&#x20AC;?  says  Ian  Barber   a  spokesman  for  the  Advertising   Association. Â

t

he  survey  found  that  SMEs  which  adver-­ tise  are  more  likely  to  achieve  growth,  yet  many  are  understandably  held  back  by  concerns  over  cost  and  the  pros-­ pect  of  getting  a  return  on  investment.  Two-­ WKLUGV RI 60(V which  do  not  advertise  believe  that  advertis-­ ing  is  â&#x20AC;&#x153;too  expensiveâ&#x20AC;?  and  additionally,  EHOLHYH LW LV ³¿QDQFLDOO\ ULVN\´ Fewer  than  one-­third  of  SMEs  invest  in  any  form  of  advertising  and  even  DPRQJ EXVLQHVVHV ZLWK PRUH WKDQ Â&#x2026; P WXUQRYHU IHZHU WKDQ RQH LQ WZR

currently  advertise. <HW WKH ¿JXUHV VXJJHVW WKDW WKRVH WKDW GR LQYHVW DUH EHQH¿WWLQJ +LJK JURZWK SMEs  are  more  likely  to  advertise  and  RI 60(V WKDW KDYH DGYHUWLVHG VD\ LW was  a  success,  the  survey  found.

It  suggests  that  companies  which  simply  try  to  market  their  services  to  customers  via  social  media  are  missing  out.  While  it  is  true  that  social  media  offer  ways  to  reach  customers  easily  and  inexpensively,  this  is  nothing  new,  adds  Ian  Barber.  â&#x20AC;&#x153;There  have  always  been  free  media  opportunities  using  boards,  company  vehicles,  shop  windows.â&#x20AC;?  If  free  media  is  nothing  new  and  yet  advertising  still  worked  in  the  days Â

A s i a n We a l t h M a g . c o . u k

before  digital  media  that  suggests  it  still  has  its  place  now.  In  fact,  it  can  offer  even  better  value  today,  says  Ian.  â&#x20AC;&#x153;What  is  different  today  is  the  cost  of  advertis-­ ing.  The  entry  cost  into  a  more  strategic  paid-­for  ad  or  media  campaign  is  lower  than  it  used  to  be,  even  for  mainstream  media  like  radio  and  TV,  while  the  cost  of  online  advertising  is  extremely  low  and  extremely  targeted.â&#x20AC;?

Many  high-­growth  SMEs  have  had  success  with  low-­cost  and  local  adver-­ tising  including  radio  and  newspapers  which  offer  an  opportunity  to  attract  a  UHJLRQDOO\ VSHFL¿F DXGLHQFH RU RQOLQH pay-­per-­click  services  that  allow  them  to  monitor  their  advertising  closely.

Advertising  creates  and  sustains  relationships  between  consumers  and  companies.  It  informs  consumers  about  existing  products  and  innovations,  help-­ ing  the  best  ideas,  products  and  brands  to Â

â&#x20AC;&#x2DC;â&#x20AC;&#x2DC;

succeed.  It  helps  companies  to  commu-­ nicate  their  prices  and  products,  allowing  people  to  make  informed  choices  about  who  they  buy  from  and  at  what  price.  It  also  still  plays  an  important  role  in  helping  businesses  build  their  brands  and  differentiate  their  products.  It  can  also  play  a  key  role  for  SMEs  looking  to  enter  new  overseas  markets,  in  particular,  sup-­ porting  market  entry  and  helping  to  build  larger  market  shares.

So  how  do  businesses  decide  whether  to  advertise  and  how  do  they  make  the  most  of  their  advertising  when  they  do  spend  on  it?  The  key  is  to  create  a  coherent  and  considered  plan,  says  the  Advertising  Associationâ&#x20AC;&#x2122;s  Ian  Barber.  SMEs  fail  to  extract  the  maximum  value  from  their  campaigns  when  they  are  designing  each  advert  in  isolation  and  where  they  donâ&#x20AC;&#x2122;t  measure  the  results  of  their  advertising. Â

While it is true that social media offer ways to reach

customers easily and inexpensively,

this is nothing new.

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Failing  to  do  this  makes  it  more   GLI¿FXOW IRU WKHP WR FDOFXODWH DQ DFFXUDWH return  on  investment  and  harder  for  them  WR LPSURYH DQG UH¿QH WKHLU FDPSDLJQV over  time.

Among  SMEs  that  advertise,  the  ones  that  achieve  the  best  results  are  the  ones  that  use  multiple  advertising  channels  and  which  develop  a  structured  cam-­ paign,  rather  than  relying  on  an   occasional  advert  or  just  using  one   FKDQQHO 7KH RI DOO 60(V WKDW  believe  their  advertising  has  been  a   VXFFHVV ULVHV WR IRU WKRVH ZKR KDYH a  structured  multi-­channel  campaign. â&#x20AC;&#x153;The  report  shows  that  when  they  get  advice  and  put  in  place  multi-­channel  campaigns,  their  advertising  is  more   effective,â&#x20AC;?  says  Ian. Deciding  whether  to  spend  on   advertising  and  how  to  do  it  must  also  be  informed  by  a  wider  and  carefully  thought  out  marketing  strategy,  says  marketing  and  brand  expert  Paul  Bay,  of  consultancy  Citizen  Bay. â&#x20AC;&#x153;There  will  always  be  a  place  for  the  advertising  message.  The  power  of   effective  advertising  is  in  the  way  it  can  help  to  trigger  a  rethinking  about  a  par-­ ticular  brand  and  build  awareness  rapidly  but  it  has  to  justify  itself  more  than  ever,â&#x20AC;?  says  Paul. â&#x20AC;&#x153;People  have  the  power  to  seek  infor-­ mation  about  products  and  services,  pric-­ ing  promotions  and  quality.  The  old  style  business  funnel  from  awareness  to  clos-­ ing  a  sale  is  not  really  around  anymore.  More  than  ever  before  it  is  about  what  people  say  about  your  product  online,  so  advertising  has  to  be  challenged  at  more  levels  now.â&#x20AC;?

e

ach  advertising  medium  has  to  be  challenged  about  the  EHQH¿WV LW ZLOO RIIHU Magazines  must   demonstrate  knowl-­ edge  of  how  their  readers  react  to  the  ads  in  them  and  websites  must  be  able  to  justify  what  their  ads  will  return.

But  before  any  marketing  activ-­ ity  takes  place,  and  especially  before  embarking  on  an  ad  campaign,  it  must  be  underpinned  by  some  research  on  your  customers  that  offers  you  insights  about  them,  explains  Paul.   Finding  out  what  people  are  saying  to Â

A s i a n We a l t h M a g . c o . u k

â&#x20AC;&#x2DC;â&#x20AC;&#x2DC;

Advertising

People have the power to seek information about products and services, pricing promotions and quality.

each  other  about  your  sector,  products  or  competitors  can  be  free,  relatively  simple  and  will  offer  a  wealth  of  insights.  â&#x20AC;&#x153;Analysing  what  people  are  saying  to  each  other  gives  you  an  amazing  insight  into  what  makes  people  tick.  Start  with  customer  insights  whether  thatâ&#x20AC;&#x2122;s  from  people  coming  into  the  shop,  from  your  sales  team  or  in  online  surveys,â&#x20AC;?   advises  Paul. â&#x20AC;&#x153;They  will  give  you  amazing  nuggets  from  that  can  work  out  the  best  forms  of  reaching  them.  Itâ&#x20AC;&#x2122;s  all  about  building  long-­term  customer  relationships  and  revenues.  Focus  on  that  bit  and  every-­ thing  else  will  fall  into  place.â&#x20AC;?

Once  youâ&#x20AC;&#x2122;ve  done  this,  getting  the  mix  of  â&#x20AC;&#x153;earned,  owned  and  paid-­forâ&#x20AC;?  market-­ ing  is  important.  Owned  marketing  is  the  effort  you  put  into  your  own  assets  in-­ cluding  your  website  and  physical  space  -­  shop  windows  and  displays,  earned  marketing  is  the  conversations  others  are  having  about  your  product  between  themselves,  and  paid-­for  is  advertising.

Keep  trying,  testing  and  measuring  to  ¿QG WKH ULJKW PL[ RI WKHVH WKUHH IRU \RXU

business,  says  Paul.  â&#x20AC;&#x153;For  one  company  Facebook  might  work,  for  another  it  will  EH DQ ROG VFKRRO SULQW DG <RX RQO\ ÂżQG out  by  testing.â&#x20AC;?

Measure  the  response  to  the  campaign  LQ WHUPV RI KDUG QXPEHUV FODVVLF PHGLD metrics  like  the  number  of  website  clicks  LW JHQHUDWHG EXW DOVR SHRSOHœV HPRWLRQDO response,  says  Paul.  Did  they  like  it?   Did  it  make  them  rethink  your  busi-­ ness?  You  can  pick  that  up  in  the  social  space  or  when  your  sales  teams  speak  to  customers.

Having  a  common  sense  attention  to  detail  will  also  help  you  get  the  most  from  an  ad  campaign,  says  Paul.  Think  about  the  journey  you  want  a  customer  to  take  when  they  respond  to  an  ad  and  make  it  an  easy  one.  Make  sure  web  links  on  the  ad  take  customers  to  the  relevant  SDJH ZKLFK LV RIWHQ QRW \RXU KRPH SDJH

Make  ads  simple  and  uncluttered.   Effective  use  of  things  like  font  and   colour  will  aid  clarity,  says  Paul.   â&#x20AC;&#x153;Simplicity  works  and  all  too  often   we  over-­complicate  things.â&#x20AC;?

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{ {

TEN OF THE BEST

advertising campaigns

Viral, print or TV, featuring cute characters or record-breaking stunts, nobody forgets a good advertising campaign. Andrew Stone looks back through history at ten of the best marketing campaigns which have benefitted the companyâ&#x20AC;&#x2122;s revenue, value or market share.

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A s i a n We a l t h M a g . c o . u k

Ten of the best

DE BEERS

â&#x20AC;&#x153;A  diamond  is  foreverâ&#x20AC;?

Used  by  diamond  giant  De  Beers  in  HYHU\ FDPSDLJQ VLQFH WKLV  elegant  phrase  established  diamonds   as  a  token  of  enduring  love  and  of   betrothal.  Its  success  is  hard  to   overstate;  the  ad  basically  created   the  market  and  became  part  of  the  cul-­ ture  and  language,  celebrated  in   VRQJ DQG ¿OP

RED BULL

Felix  Baumgartner  stunt As  daredevil  Felix  Baumgartner   SOXPPHWHG PLOHV WR HDUWK ODVW  year  in  his  record-­breaking  freefall   from  the  edge  of  space,  his  sponsor   Red  Bull  notched  up  its  single  most  Â

A s i a n We a l t h M a g . c o . u k

effective  high-­adrenaline  marketing  coup.  The  event  was  said  to  have   instantly  added  tens  of  millions  of   dollars  to  the  brand.

NIKE

â&#x20AC;&#x153;JUST Â DO Â ITâ&#x20AC;?

The  simple  slogan  transformed   Nikeâ&#x20AC;&#x2122;s  ability  to  sell  to  men  and  women  of  all  ages.  In  the  decade  after  Nike  ODXQFKHG WKH ÂżUVW DG ZLWK WKH VORJDQ LW increased  its  North  American  market  VKDUH IURP WR DQG ZRUOG ZLGH VDOHV IURP XQGHU EQ WR PRUH  WKDQ EQ

VOLKSWAGEN

â&#x20AC;&#x153;Think  Smallâ&#x20AC;? ,Q WKH V 9: 86$ ZDV VWUXJJOLQJ WR

sell  its  Beetle  â&#x20AC;&#x201C;  an  odd  looking  small   car  designed  in  Nazi-­era  Germany   compared  to  the  luxury  all-­American  chrome  gas  guzzlers  on  sale  at  the  time.  The  minimalistic  Think  Small   print  campaign  boosted  sales,  helped  build  lifetime  brand  loyalty  among   buyers  and  laid  the  way  for  a  new  style  of  advertising.

APPLE

â&#x20AC;&#x153;Get  a  Macâ&#x20AC;?

The  entertaining  and  extensive  series  RI DGV DLUHG EHWZHHQ DQG elegantly  and  amusingly  highlighted  the  simplicity  of  the  user  experience  of  Macs  compared  to  PCs  featuring  a  comic  duo  personifying  each  machine.  $SSOHÂśV PDUNHW VKDUH JUHZ E\  during  and  after  the  campaign. Â

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The fragrant scent from an

English Rose in regent’s park

Strawberries and Cream

at Wimbledon

A cold, crisp Ginger Beer

at your favourite Pub Afternoon Tea

in one of London’s

finest hotels

Salt & Vinegar

on your chips

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Jour ney into some of Britain’s iconic flavour combinations at lond on ch o c.com Also available at Har rods A s i a n We a l t h M a g . c o . u k

A d D e s igned by: am ove o.tv

Gin & Tonic at a swanky night club

Best before: anyone else gets home.

â&#x20AC;&#x2DC;â&#x20AC;&#x2DC;

Chocolate and Vanilla Cheesecake.

It paid for itself nearly six times over and tripled the value of Radley in less than two years.

TOURISM QUEENSLAND

â&#x20AC;&#x153;Best  Job  in  the  Worldâ&#x20AC;?

A  massive  hit  because  it  encouraged  everyone  to  imagine  what  it  would  be  like  to  be  paid   to  spend  time  on  a  tropical  island  in  the  Great  Barrier  Reef,  Tourism  Queenslandâ&#x20AC;&#x2122;s  Best  Job  in  the  World  campaign  secured  massive  press  FRYHUDJH ZRUOGZLGH JHQHUDWLQJ P in  global  publicity  value. Â

RADLEY

â&#x20AC;&#x153;Truly  Radley  Deeplyâ&#x20AC;?

A  guerilla  ad  and  PR  campaign   enabled  the  British  handbag  maker  to   JHW WDONHG DERXW E\ FXVWRPHUV DQG LQĂ&#x20AC;X-­ ential  fashion  buyers.  It  paid  for  itself Â

A s i a n We a l t h M a g . c o . u k

nearly  six  times  over  and  tripled  the   value  of  Radley  in  less  than  two  years.  Not  a  global  classic  but  a  great  example  of  the  effective  use  of  small  budgets. Â

REESEâ&#x20AC;&#x2122;S PIECES

ET  the  Movie 5HHVHœV 3LHFHV VDOHV URVH DIWHU  the  brand  was  famously  and  memorably  PHQWLRQHG LQ WKH ¿OP (7 ,W ZDV D  product  placement  opportunity  rival  confectioner  M&Ms  turned  down  to  its  enduring  regret.

HAXAN FILMS

â&#x20AC;&#x153;Blair  Witch  Projectâ&#x20AC;? &RVWLQJ MXVW WR VKRRW WKH VPDVK KLW %ODLU :LWFK 3URMHFW KRUURU

PRYLH WRRN P LQ VDOHV WKDQNV LQ great  part  to  a  series  of  low-­cost   missing  person  style  ads  and  online   message  board  postings  that  helped   FRQYLQFH SHRSOH WKDW WKH ÂżOP ZDV  true.  One  of  the  earliest  and  still   most  successful  â&#x20AC;&#x2DC;viralâ&#x20AC;&#x2122;  online   campaigns.

GĂ&#x153;

â&#x20AC;&#x153;Give  in  to  a  GĂ&#x153;â&#x20AC;? $QRWKHU VPDOO VFDOH KLW WKH  premium  dessert  campaign  brilliantly  targeted  affordable  everyday  luxury   treats  at  recession  hit  consumers.   The  campaign  achieved  a  return  of   Â&#x2026; IRU HYHU\ Â&#x2026; VSHQW ERRVWLQJ  UHYHQXHV E\ Â&#x2026; P DQG KHOSHG * GRXEOH sales  within  three  years.

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Maseratiâ&#x20AC;&#x2122;s 86

A s i a n We a l t h M a g . c o . u k

On The Road

Inspired and encouraged by the considerable success of the GranTurismo MC Stradale, the new Maserati GranCabrio MC completes the open-top range with a sporty and aggressive look.

NEWEST FAMILY MEMBER A s i a n We a l t h M a g . c o . u k

87

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T

HE  NEW,  SPORTY  LOOK  OF  THE  GRANCABRIO  MC  can  be  seen  in  each  stylistic  element  of  its  bodywork.  Inspired  directly  by  the  cars  of  the  Maserati  Trofeo  MC  World  Series  and  the  GT4  version,  the  new  design  perfectly  blends  sportiness,  dy-­ namism,  the  search  for  aerodynamic  perfection,  elegance  and  style.  These  stylistic  elements  are  already  partly  characterised  in  the  GranTurismo  MC  Stradale  and  the  GranTurismo  Sport,  and  seamlessly  unite  form  and  function.

The  car  has  a  front  end  inspired  directly  by  the  MC  Stradale,  DGRSWLQJ D SURÂżOH GHVLJQHG WR RSWLPLVH WKH DHURG\QDPLF OLIW DQG Ă&#x20AC;RZ 7KHVH GLIIHU IURP WKRVH RQ RWKHU YHUVLRQV RI WKH *UDQ-­ Cabrio  due  to  the  increased  car  length  and  other  aerodynamic  elements  at  the  rear  end.  The  bonnet  incorporates  two  generous  air  outlets  at  the  centre  WR RSWLPLVH FRROLQJ RI WKH SRZHUIXO 9 DQG WZR PRUH DLU RXWOHWV to  cool  down  the  brake  discs  have  also  been  added  to  the  two  front  wings.  Initially  introduced  on  the  GranTurismo  Sport  the  new   headlights,  which  adopt  LEDs  for  the  daytime  running  light  function,  complete  the  new  look  of  the  GranCabrio  MC.  Though  they  maintain  the  external  shape  seen  on  the  other  three  versions  in  the  GranCabrio  range,  the  new  headlights  adopt  the  most  modern  technology,  perfectly  enhanced  with  an  extremely  sporty  look  thanks  to  the  matt  black  colour  of  the  structure.  The  rear  is  characterised  by  the  large  spoiler,  for  greater   negative  lift  at  high  speeds.  Inside  the  spoiler,  built  into  the   luggage  compartment,  is  the  third  brake  light.  The  standard  ver-­ sion  comes  in  the  same  colour  as  the  body  and  it  is  also  avail-­ able,  within  the  various  car  customisation  packages,  with  Â

A s i a n We a l t h M a g . c o . u k

D FDUERQ ÂżQLVK The  bumper  has  been  completely  redesigned  at  the  bottom  to  make  the  new  model  even  sportier  and  at  the  same  time  ensure  RSWLPDO DHURG\QDPLF HIÂżFLHQF\ 7KH FLUFXODU H[KDXVWV KDYH EHHQ PRYHG WR WKH FHQWUH RI WKH EXPSHU DQG WKH VSHFLÂżF OD\RXW of  the  air  ducts,  built  into  the  lower  part  of  the  bumper,  ensure  JUHDWHU VWUHDPOLQLQJ VWDELOLVLQJ WKH DLU Ă&#x20AC;RZ IURP WKH XQGHUERG\ $V ZLWK WKH PRVW VSRUW\ *UDQ7XULVPR LQ WKH UDQJH WKH *UDQ7XULVPR 6SRUW WKH *UDQ&DEULR 0& DOVR DGRSWV WKH QHZ OLWUH 9 HQJLQH ZKLFK GHOLYHUV N: +3 WRJHWKHU ZLWK VXEVWDQWLDO WRUTXH RI 1P DW USP 7KH SLVWRQV SRVLWLRQHG DW DQ DQJOH RI Â&#x192; DUH PDGH RI UHLQ-­ forced,  hardened  aluminium,  as  is  the  engine  block.  The  crank-­ VKDIW ZLWK ÂżYH SRLQW EDODQFLQJ LV PDGH RI KLJK VWUHQJWK VWHHO The  timing  system,  with  two  chains  per  bank,  features  dual  variable  valve  timing.  The  new  power  unit,  in  combination  with  the  MC  Auto  Shift  transmission,  is  now  able  to  propel  the  GranCabrio  MC,  in  FORVHG VRIW WRS FRQÂżJXUDWLRQ WR D WRS VSHHG RI NP K ZLWK DFFHOHUDWLRQ RI WR NP K LQ VHFRQGV The  Maserati  GranCabrio  MC  is  available  for  £111,745.   For  dealer  information  go  to  Maserati.co.uk.

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gem THE UKâ&#x20AC;&#x2122;S NO 1

With the winter rain battering at his door, Varun Sharma did not have to tread too far afield to find this monthâ&#x20AC;&#x2122;s luxury hideaway.

THE  GREAT  BRITISH  WEATHER  has  put  me  on  tenterhooks  and  I  am  â&#x20AC;&#x201C;  almost  on  a  daily  basis  â&#x20AC;&#x201C;  subjected  to  that  very  unnerving  choice  between  ¿ JKW RU Ă&#x20AC; LJKW )LJKW Âą DQG VWD\ LQ WKH 8. DQG VHH ZKDW WKH FRXQWU\ ORRNV OLNH XQGHUZDWHU RU FKRRVH WR Ă&#x20AC; \ VRPHZKHUH Âą DQ\ZKHUH Âą ZKHUH WKHUH LV little  precipitation  and  a  big  pot  of  glorious,  hot  sunshine.

While  the  latter  is  the  obvious  and  saner  option,  I  decided  a  few  week-­ ends  ago  to  escape  to  the  Cotswolds  â&#x20AC;&#x201C;  one  of  the  more  famous  luxury  country  destinations.

Model  Kate  Moss,  actress  Kate  Winslet  and  fashion  designer  Stella  McCartney  have  all  made  homes  in  this  area  of  England  because  of  its  FORVH SUR[LPLW\ WR /RQGRQ WKH VWXQQLQJ FRXQWU\VLGH VHFRQG RQO\ WR 'RUVHW

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Travel

THE ROLLING COTSWOLDS HILLS ATTRACT THE GREAT AND GOOD FROM LONDON ON A REGULAR BASIS FOR A WEEKEND BREAK

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THE DECOR AT NO 1 OAK HOUSE IS ECLECTIC AND BOLD

LQ P\ ERRN DQG OLNH %HYHUO\ +LOOV FHOHEV OLNH WR EH LQ FORVH proximity  to  their  own  â&#x20AC;&#x153;kindâ&#x20AC;?.  It  is  also  worth  pointing  out  that  the  likes  of  Jane  Austen,  William  Shakespeare  and  Gustav  Holst  had  connections  to  the  area.

7KH &RWVZROGV DUH D UDQJH RI KLOOV LQ VRXWK VRXWK ZHVW  England  and  take  in  the  counties  of  Gloucestershire,  Oxford-­ shire,  Worcestershire,  Warwickshire,  Wiltshire  and  parts  of  Somerset.  But  the  name  now  represents  an  area  synonymous  with  a  luxury  lifestyle.

There  are  many  â&#x20AC;&#x153;famousâ&#x20AC;?  towns  and  villages  in  the  Cotswolds  including  Chipping  Campden,  Chipping  Norton,  Cirencester  and  Broadway  but  on  my  wee  sojourn  I  headed  to  Tetbury,  home  to  Prince  Charlesâ&#x20AC;&#x2122;  Highgrove  Estate.

A s i a n We a l t h M a g . c o . u k

I  left  my  home  under  dark  skies  and  imminent  doom  and  by  WKH WLPH , DUULYHG RXWVLGH 2DN +RXVH 1R WKH VXQ ZDV VKLQLQJ the  sky  was  blue,  the  air  was  fresh  and  I  could  feel  that  I  was  about  to  enjoy  a  special  couple  of  days.

7HWEXU\ PDGH LWV IRUWXQH LQ WKH WK FHQWXU\ IURP WKH ZRRO WUDGH $ VWXQQLQJ WRZQ ZDV HUHFWHG ¿OOHG ZLWK LPSUHVVLYH EXLOG-­ ings  that  were  visibly  constructed  to  stand  the  test  of  time.

Sitting  on  the  townâ&#x20AC;&#x2122;s  most  opulent  square  sits  a  grandiose  WK FHQWXU\ WRZQKRXVH WKDW IURP WKH RXWVLGH ORRNV OLNH LW LV ÂżW for  a  King,  and  on  the  inside  The  King  of  Rock  and  Roll.

Oak  House  has  just  four  bedrooms  and  is  the  smallest  bou-­ WLTXH SURSHUW\ % % KRWHO , KDYH HYHU UHYLHZHG ,W ZDV RSHQHG LQ DIWHU IRXU \HDUV RI GHVLJQ %XW DV ZLWK PDQ\ VPDOO

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IN ASSOCIATION WITH PREMIER

HAWAII AND THE GREAT US OF A THE FOUR BEDROOMS MATCH TRADITIONAL FURNISHINGS WITH INROOM TECHNOLOGY

things,  there  is  so  much  to  say.

It  is  owned  by  Gary  and  Nicola  King.  They  have  lived  and  travelled  everywhere  in  the  world.  They  have  stayed  in  as  many  luxury  hotels  as  anyone  I  know.  They  love  their  art  ERWK PRGHUQ :DUKRO DQG FODVVLFDO 7KH\ KDYH WDVWH 7KH\ have  class.  They  can  cook  an  amazing  breakfast.  They  have  a  superb  dog  called  Woody.  They  understand  service.  If  I  were  an  hotelier  and  wanted  to  go  it  alone,  the  Kings  would  be  my  inspiration.

Each  of  the  four  bedrooms  is  tastefully  decorated  with  ODUJH FRPIRUWDEOH EHGV LQ URRP WHFKQRORJ\ WKDW ZRUNV

beautiful  but  practical  furniture,  homely  bathrooms  and  yes  â&#x20AC;&#x201C;  that  wonderful  feeling  that  you  are  staying  in  your  richest  and  classiest  friendâ&#x20AC;&#x2122;s  home. , VWD\HG LQ WKH &DYDOLHU 5RRP ZKLFK FDQ VOHHS XS WR IRXU JXHVWV Âą VXUHO\ WKH ÂłVH[LHVW´ KRWHO URRP LQ WKH ZRUOG I  could  have  explored  the  nearby  attractions  and  I  could  have  taken  long  country  strolls  but  instead  I  stayed  in  my  room,  drank  fantastic  red  wine,  took  long  baths,  enjoyed  the  peace  and  tranquillity  of  my  surroundings  and  contemplated. ,I P\ OLIH ZHUH ÂżOOHG ZLWK WKH FRPSDQ\ WKH FXLVLQH DQG the  atmosphere  of  Oak  House,  then  my  life  would  be  truly  perfect.

THE HIGHS O  The  afternoon  tea O The  breakfast O The  bedrooms O The  dining  room O The  art O The  books O Woody  the  pooch O The  peace THE LOWS O Tetbury  does  not  â&#x20AC;&#x153;buzzâ&#x20AC;?

O Oak  House  can  get  too  quiet O You  â&#x20AC;&#x153;knowâ&#x20AC;?  you  are  in  a  home,  not  a  hotel   O 1R GLQQHU ZKLFK , DP VXUH LI WKH\ GLG RIIHU  ZRXOG EH DPD]LQJ

O The  farewell

Experience the wonders of Las Vegas before heading to the famed beaches of the Hawaiian Islands!

W

hat makes Las Vegas fabulous? Could it be shopping in designer boutiques set in chic malls? Could it be the larger-than-life resident shows like Cirque du Soleil? Or the world famous casinos and nightlife that will mesmerise your senses for long after you have left this amazing playground of decadence. Famed as the entertainment capital of the world, Las Vegas also enjoys 300 days of sunshine, which makes it an ideal year round destination.

A walk along the Strip will have you pointing and shouting â&#x20AC;&#x153;Wow â&#x20AC;&#x201C; look at that!â&#x20AC;? Where else can you go to the top of the Eiffel Tower, visit St Marks Square, watch dancing fountains at the Bellagio, and see the Beatles perform?

Aloha Hawaii! Exotic beaches, the surf, the hula and natural beauty are all wrapped in the flower garland of friendship.

Hawaii is also home to lush landscapes, rich rainforests and towering cliffs that conjure up images of care free days.

Honolulu, for instance, treats you with an exciting cultural and dining diversity in a mountainous backdrop. Waikiki is another Hawaiian paradise for those looking to be pampered.

While away the hours topping up your tan, exploring chic spas and enjoy a meal right on the beach with your loved one; take life at your own pace in enchanting Hawaii.

Call Premier by Brightsun on 0208 819 9852 to book your luxury holiday or email us on premier@brightsun.co.uk.

Varun  Sharma  is  the  host  of  Inside  Luxury  Travel  â&#x20AC;&#x201C;   a  television  show  on  Travel  Channel  that  focuses  on  high-­ end  travel.  His  new  series  starts  airing  in  July  2014.

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corporate gala dinners O award ceremonies O conference production O set & stage design O event design & production O

To arrange a meeting please contact our sales team on 0208 664 1133.

Alternatively visit our interactive website at mevents.co.uk

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MERIDIAN WEST BOUTIQUE OPENING Meridian Audio celebrated the formal opening of its latest boutique store, and the first in London in February.

Located in the heart of the Chelsea Design Quarter, the Meridian West London Boutique opened its doors with a week of celebratory occasions.

World-renowned violinist Diana Yukawa performed her revolutionary interpretation of classical music played in harmony with her own compositions courtesy of the new Meridian Special Edition DSP Digital Active Loudspeakers.

The Boutique, which will feature the complete range of Meridian Audioâ&#x20AC;&#x2122;s

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systems, is set across dedicated zones housing the multi award-winning line up including DSP Digital Active Loudspeakers, Meridian Reference Series, Meridian Streaming Systems and the newly introduced Personal Audio range.

One of the keystones of the launch event programme was the UK unveiling of the new Special Edition DSP Digital Active Loudspeakers. Marking the 25th anniversary of the introduction of the worldâ&#x20AC;&#x2122;s first digital loudspeaker, 2014 sees Meridian launch this special edition series.

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Events

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Events

20 YEARS OF SETHI

The Sethi Partnership Solicitor celebrated its 20 years anniversay in style at a London hotel last month.

Founding partner Ritu Sethi also toasted a special birthday and along with her husband, Sudhir, welcomed over 350 family, friends and associates to a champagne reception and poolside jazz, followed by dinner and entertainment.

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1 1 The new Porsche Design Store; 2 Full house at the launch event; 3 Spring-Summer Collection 2014; 4 Sophie Charbonneau , UK Country Manager Porsche Design, Boris Becker, Dr Juergen Gessler CEO of Porsche Design; 5 Massato, Japanese Haidresser for Celebrities - Jeanne Marine (wife of Bob Geldof); 6 Gail Porter, TV Presenter

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PORSCHE DESIGN OPENS

Porsche Design has celebrated the grand opening of its new flagship store on Brompton Road, located in the heart of Knightsbridge. It is the luxury brand’s first flagship store worldwide, featuring Porsche Design’s newly reimagined retail concept, which reflects the brand’s expansion into additional product offerings such as readyto-wear collections and women’s accessories.

The full house was attended by an eclectic mix of people, including Dr Juergen Gessler, CEO of the Porsche Design Group, Gail Porter and Boris Becker.

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Events

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BRITISH ASIAN TRUST DINNER

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In early February, Naughty Boy led the entertainment alongside his guest performer and Brit Award winning artist, Emeli Sandé, at The British Asian Trust Dinner held at The Victoria and Albert Museum.

The dinner raised over £500,000 for the Trust’s work in South Asia and was attended by fellow British Asian Trust Ambassadors, Preeya Kalidas, Sanjeev Bhaskar OBE, Mishal Husain, Laila Rouass and Ronnie O’Sullivan.

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MAGES COURTESY OF GREG FUNNELL AND ANDREW YOUNGSON.

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6 A s i a n We a l t h M a g . c o . u k

1 The Victoria and Albert Museum; 2 Patrons and ambassadors of BAT; 3 Tasmin Lucia-Khan; 4 Sanjeev Bhaskar OBE; 5 Naughty Boy, Emeli Sandé with HRH The Prince of Wales; 6 HRH The Prince of Wales; 7 Preeya Kalidas, DJ Nihal, Naughty Boy and Emeli Sandé; 8 Preeya Kalidasw with HRH The Prince of Wales

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INDEPENDENT MORTGAGE ADVISORS www.avenue-pf.com

Ketan Yadav BA(Hons) Cert.PFS Cert CII(MP) Specialised Lending Director Qualified Member of The Society of Mortgage Professionals, The Personal Finance Society and The Chartered Insurance Institute Avenue & Co Private Finance | AAC House | 212 Regents Park Road | London | N3 3HP Reception: 0845 230 9091 D: 0845 230 9092 Fax: 08715942039 Blackberry: 07817 886 052 ( N\DGDY#DYHQXH SI FRP

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A s i a n We a l t h M a g . c o . u k

BUSINESS DIRECTORY

Spice up your trip with a visit to Gaylordâ&#x20AC;&#x2122;s. *D\ORUG ± 6HUYLQJ ¿QHVW ,QGLDQ FXLVLQH VLQFH

Memorable food...

for every occasion For information on our Catering Packages please contact us today.

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BUSINESS DIRECTORY

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BUSINESS DIRECTORY

ENTREPRENEUR BRAND ACCELERATOR

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Join us for an 8 hour Brand Accelerator along with 400 other business owners, where each speaker will deliver a potent 40 minute talk on their step of the KPI 5-step method. They will arm you with an elegant and proven strategy for becoming highly valued, connected and visible in your industry.

Itâ&#x20AC;&#x2122;s a content packed, no-nonsense event, delivered by business leaders.

-XVW EHLQJ ÂľJRRG DW ZKDW \RX GRÂś LV QR ORQJHU HQRXJK WR FRPSHWH LQ WKH QHZ HFRQRP\ This event will show you how to stand out, scale up and take full advantage of the extraordinary times we are in. Build and leverage your personal brand.

See entrevo.com/aw1304 for more details. Seating is limited. Book now >>

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UP TO 60% DISCOUNT

FOR ASIAN WEALTH READERS. SEE MORE BY VISITING: WWW.ENTREVO.COM/AW1404

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BUSINESS DIRECTORY

ACCIDENTS CAN CHANGE LIVES â&#x20AC;&#x201C; CHOOSE THE BEST SOLICITOR

Accidents can happen to anyone, at work, on the road or even when in hospital. When you suffer because of someone elseâ&#x20AC;&#x2122;s negligence you need the right legal representation to help with your recovery and your claim for compensation. At Levenes Solicitors, our dedicated legal team headed by the award winning Mr Mitesh Patel Partner/ Solicitor can help you recover loss of earnings, medical expenses, care and assistance following an accident.

If you or someone you know has suffered a serious accident or injury contact us now, our nationwide presence means that we can visit you at your home and our database of specialist experts are at hand to provide key reports to assist your claim and ultimate recovery. We recover millions of pounds in compensation each year for our clients.

An accident is an something you cannot do anything about, but choosing the right solicitor to help you win your case, is in your hands. Call Now.

MITESH PATEL PARTNER Winner of: Best in Legal Services (British Indian Awards 2013) Lawyer of the Year (Asian Achievers Awards 2013) Email: mpatel@levenes.co.uk

A s i a n We a l t h M a g . c o . u k

www.levenes.co.uk Direct dial: 0208 826 1375

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Upcoming events O BRITISH INDIAN AWARDS

Advertisers Index Ajmere Asian Women of Achievement Awards Asian Wealth Magazine Avenue & Co Bi-fold Door Factory British Asian Trust Chivas Regal Chopard Coutts Currencies Direct De Beers Devnaa Digimax Dutton Gregory Ettinger Eye Jogia Photography Gaylord Restaurant Grange Hotels Haathee Group Hublot India Dining KPMG Levenes Solicitors Links Legal London Chambers ABA London Chocolate Company Madhu’s Magic Bus May Fair Hotel Meridian Audio Mistique Events Mont Blanc Net Jets Patek Philippe Phil Bourne Photography Pinnacle Advisory Services Porsche UK Premier (Bright Sun) Travel Santoshi Designs SecretSales.com Sextons Sunseeker The Dorchester The Sethi Partnership Trident Insurance Vertis Aviation Yum Yum

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70 IBC 107 104 56 42 28, 29 20 26 38 48 78 106 108 76 110 105 94 66, 67 46 105 72 109 108 105 84 100 58 34, 35 14 96, 97 OBC 36 2, 3 111 104 IFC, 1 92 80 50 107 6, 7 62 108 88 52, 53 105

Date: 16 May 2014 Venue: St Johns Hotel, Birmingham The second annual awards will be an evening of recognition, rewarding the continuing strength of the British Indian community, recognising those who thrive, evolve and capture the multicultural spirit of Great Britain.

For more information: thediversityawards.info/britishindian

O THE ASIAN WOMEN OF ACHIEVEMENT AWARDS Date: 4 June 2014 Venue: Hilton Park Lane, London The Asian Women of Achievement Awards, co-founded by Pinky Lilani OBE in 1999, were conceived to celebrate the often unsung Asian heroines in many walks of British life, including entrepreneurship, social and humanitarian work. Held in association with the Royal Bank of Scotland, the nationwide search to find 2014’s breakthrough Asian females has begun.

For more information: awa.realbusiness.co.uk E: events@caspianmedia.com T: 0207 045 7600

O ASIAN WEALTH MAGAZINE 2ND ANNIVERSARY

BY INVITATION ONLY Date: 19 June 2014 Venue: Secret location, Mayfair, London On June 19th we along with our partners at Porsche will be holding an EXCLUSIVE event at a secret location in London’s Mayfair to celebrate AWM’s 2nd anniversary. Guests will enjoy a spectacular evening filled with fine wine, food, friends and of course fantastic networking.

O MAGIC BUS GALA DINNER Date: 9 October 2014 Venue: The Dorchester, London

Join Magic Bus for an exclusive evening of entertainment and networking at the annual gala dinner and help reach even more children and young people living in poverty in India.

For more information: Ellen Brooks on 020 7922 7717 E: ellen@magicbusuk.org. magicbusuk.org

O THE SIKH AWARDS Date: 18 October 2014 Venue: The Park Plaza Hotel, London The brainchild of Navdeep Singh Bansal, founder of The Sikh Directory media organisation, the awards recognise the special contribution that Sikhs have made worldwide in the fields of business, sport, entertainment, charity, media, service and education.

For more information: E: info@sikhawards.com sikhawards.com

O LONDON CHAMBERS OF COMMERCE ASIAN BUSINESS ASSOCIATION DINNER Date and venue: TBC The Asian Business Association (ABA) Dinner brings together guests from a range of industries and is the premier gathering in the Asian business calendar. Open to Asian and non-Asian businesses, this year’s annual dinner will take place in the autumn with a date and venue to be confirmed.

Up to 450 guests will attend this event from a variety of industries including professional services, marketing, media, property, recruitment and training, transport and logistics. Rub shoulders with key figures from business, central and local government, arts and media, high commissioners, life peers and many top Asian entrepreneurs.

For more information: Jenny Crouch, event manager E: jcrouch@londonchamber. co.uk T: +44 (0)20 7203 1874

A s i a n We a l t h M a g . c o . u k

Celebrating the achievements of Asian woman in business, entrepreneurship and social and humanitarian work.

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See the 2014 shortlists at awa.realbusiness.co.uk Winners to announced at the 15th annual Awards night on June 4th at the London Hilton on Park Lane.

To book your table contact katie.allner@caspianmedia.com / 020 7045 7600 or visit awa.realbusiness.co.uk

BROUGHT TO YOU BY

“The AWA Awards really is an incredible platform in finding and promoting women who have for so long worked so hard in silence and contributed so much in today’s society.”

Farida Gibbs, CEO, Gibbs S3 - AWA Entrepreneur

SPONSORED BY

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