“If you want to be successful in the world, you have to be successful in Dubai first”


March 24, 2022 | By RetailME Bureau

French public investment company BPI France, in partnership with luxury retailer Chalhoub Group recently brought 22 French companies from the fashion, cosmetics, design, culture, and creativity sectors to Dubai in order to prospect the UAE market. For four days, the chosen companies were given a unique opportunity to test the Emirati market and confirm their strategy to settle in the Middle East.

“Retail is a very important sector and we would like for them to explore the opportunities they have in this region. Some of the brands have a huge influence in Europe but they have to understand all the opportunities they have here. In Dubai, they will be able to find all the transitions in which retail sector is accelerating today with regards to climate change, decarbonisation, digital transformations etc.” said Pedro Novo the Executive Director in charge of the Export at Bpifrance.

“This is the right place to be. If you want to be successful in the world, you have to be successful in Dubai, when you are in the retail industry,” he added.

The UAE ranks 11th globally in the World Bank’s annual ease of doing business ranking. It has introduced a number of reforms and legislations in recent years order to improve its attractiveness as a business hub. Some of the measures it introduced include improving online registration, eliminating all costs for commercial and industrial connections of up to 150 kilo-Volt-Amperes (kVA), making registering property easier by increasing the transparency of the land administration system, and strengthening access to credit.

“In the UAE, all the government reforms introduced in the last two years helps improve its attractiveness for French companies and other foreign companies. It would also push these brands to function in a competitive market, considering the competition is tough here. Dubai is a place where you accelerate your model, and that’s why they are here now,” he said.

Echoing the sentiments, Geoffroy Bunetel, Chief of Staff to the President at Chalhoub Group and President of CCI France UAE said, “Dubai is the number one city globally when it comes to the number of brands present here. Niche brands that are unique and creative would be a great fit for a place that is overwhelmed by the big franchises. There is a strong appetite for newness, especially among the young crowd.”

Moreover, he believes that Dubai’s adaptation of technology and willingness to experiment and innovate makes it an even attractive hub for new businesses and startups to set up here.

“Technology will support new business models. Blockchain and circular economy in the luxury business has a very important stake. Circular economy, which instigates changes towards pre-loved, rental and other such business models can be supported by blockchain. So there is a strong link between technology and how we can grow new business models in retail,” he said.

Previous Article Next Article

SHARE

YOU MAY ALSO LIKE /


Sunil Kumar and Debashish Mukherjee at MRF 2024

What does it take to sustain profitable growth in the post-IPO phase? 

Continue Reading

October 23, 2024 | By Anurima Das

Mahalle began its operations in 2022 as an “Authentic Turkish Grocery in 

Continue Reading

October 7, 2024 | By Anurima Das
Naresh Kumar Bhawnani, Founder & Chairman, West Zone Group

“Retail is a people’s business. When building a retail brand or the 

Continue Reading

October 3, 2024 | By RetailME Bureau
Sunil Kumar, CEO, Spinneys

From being one of the first retailers in Dubai to ban single-use 

Continue Reading

October 1, 2024 | By RetailME Bureau
Walid Shabana, Co-founder & CTO, Rabbit

For starters, Rabbit is a growing e-commerce grocery platform in Egypt always 

Continue Reading

September 30, 2024 | By RetailME Bureau
Arunachalam Palaniappan, CTO, Choithrams

In 2024 grocery retail major Choithrams has achieved several milestones underscoring its 

Continue Reading

September 12, 2024 | By RetailME Bureau
#Topshelftalks session at Food Business Forum 2024

Industry pioneers are embracing a comprehensive strategy that integrates consumer insights, digital 

Continue Reading

July 3, 2024 | By Anurima Das
#EdgeOfTomorrow session at Food Business Forum 2024

The regional grocery retail market is evolving fast keeping pace with constantly 

Continue Reading

July 3, 2024 | By Rupkatha B
#CartToCouch session at Food Business Forum 2024

If anything, the Middle East market is excited about quick commerce – 

Continue Reading

July 2, 2024 | By Rupkatha B
#EcoEchoes session at Food Business Forum 2024

From ethical and local sourcing to adopting cutting-edge technologies to curb food 

Continue Reading

July 2, 2024 | By Rupkatha B
#ByteSizedBreakthroughs session at Food Business Forum 2024

The regional grocery retail market is becoming more and more diverse, offering 

Continue Reading

July 2, 2024 | By Rupkatha B

Spinneys, the leading premium fresh food retailer, has announced the opening of 

Continue Reading

June 24, 2024 | By RetailME Bureau




Download Images RetailME Magazine