Lal Ganwani, Founder & Chairman, Lals Group
“For new entrepreneurs, I’d say before taking risks first understand the risk factors to make sure you don’t take on or sign things that can create a liability” – IMAGES RetailME’s exclusive interview with Lal Ganwani, Founder & Chairman of UAE-based regional retail conglomerate Lals Group
I came to Dubai in 1975 and have seen the UAE evolve in different phases. I think we are blessed with a government that is innovative, adapts to change and performs phenomenally. I think we’ve had great leaders right from Sheikh Zayed to Sheikh Rashid and even now we have some great leaders. I think they have come up with innovations that are incomparable, and Dubai has become a world city. This has helped businesses immensely. I think the UAE is a great place, with great leaders who day-by-day come up with surprises that add dynamism to the business landscape.
But one must be watchful when entering anything new. For new entrepreneurs, I’d say before taking risks they should first understand the risk factors to make sure they do not take on or sign things that can create a liability. I only get worried with people who take chances with liabilities. In this part of the world there is no bankruptcy law, so they have to be very careful when signing liabilities. In case they do not succeed, it could break them completely. I know many instances where people have run into problems which they could not come out of for years. It took them years to get back on even keel.
Also, technology is something that entrepreneurs should look at. There is no business where you cannot make quick and large bucks with technology. Be innovative and leverage technology smartly. You have to grow with technology, and you have to adopt everything into the system.
Finally, I think the strength of a company is its people. In today’s world you have to adapt to changes fast but trust your people. A lot of my colleagues have been with us for over 35-40 years. I don’t like to lose people. After all, a company’s strength is its people.
The full story was published in the November 2014 edition of IMAGES RetailME and the excerpt is part of the September 2023 ‘Leadership Stories Collector’s Edition’.
Link to purchase a copy: https://www.imagesretailme.com/e-magazine/
Watsons to open 20 new stores in the GCC
In 2020, global health & beauty retailer AS Watson Group signed its
April 29, 2024 | By Rupkatha B / 
What does it take to sustain profitable growth in the post-IPO phase?
Mahalle began its operations in 2022 as an “Authentic Turkish Grocery in
“Retail is a people’s business. When building a retail brand or the
From being one of the first retailers in Dubai to ban single-use
For starters, Rabbit is a growing e-commerce grocery platform in Egypt always
In 2024 grocery retail major Choithrams has achieved several milestones underscoring its
Industry pioneers are embracing a comprehensive strategy that integrates consumer insights, digital
The regional grocery retail market is evolving fast keeping pace with constantly
From ethical and local sourcing to adopting cutting-edge technologies to curb food
The regional grocery retail market is becoming more and more diverse, offering
/ 
Regional retail conglomerate Landmark Group is celebrating its 50th anniversary in the
By harnessing the power of artificial intelligence (AI), data and digital innovation,
During his SOLOx session at IMAGES RetailME Awards 2024, Gaurav Mahajan, Chief
During his SOLOx session, Mark Tesseyman, Chief Executive Officer of LIWA Trading
In conversation with Lee Clark from IMAGES RetailME, Steve Vickerstaff, Chief Operating
This panel discussion at the Middle East Retail Forum (MRF) 2024 brought
“Retail is a people’s business. When building a retail brand or the
Newly named Chief Executive Officer, Nurtac Afridi is all set to take
One of the UAE’s prominent and respected business leaders and Chairman of
Previous Article
