Geneva-based brand De Grisogono, known for its jewellery and luxury watches, has opened its first-ever subsidiary in Dubai with the support of the Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economic Development (DED), and Dubai-based M/Advocates of Law, an associate firm of Ali Ibrahim Advocates. The brand aims to leverage Dubai’s regional hub advantage and affinity for luxury to build a network of subsidiaries and representative offices in new markets. The brand is already well-represented in the Middle East retail market.
According to Fahad Al Gergawi, CEO of Dubai FDI, Dubai’s world-class infrastructure, tourism boom, thriving retail sector and high disposable incomes provide further opportunities for luxury brands to develop and expand to promising markets. “Dubai accounts for a major share of the local and regional luxury market today. The leadership in Dubai see the brand-consciousness and appetite for luxury among residents and visitors as strong grounds to promote economic diversification and further infrastructure development, as reflected in initiatives such as the Dubai Design District,” he observes.
“Dubai is in the heart of a very active and growing region – we are almost four hours away from Istanbul, Cairo or New Delhi. Moreover, the Dubai infrastructure in terms of free zones, airports and administrative services makes it a reliable location for us. That’s why it made absolute sense to open the first-ever subsidiary in Dubai given the constant growth in the region. New York, Hong Kong and Tokyo would be next in line for the company. The Dubai office will be looking after a wide variety of markets to the advantage of our partners and clientele,” says Omar Chaoui, managing director – Middle East & India region for De Grisogono.
“There is a clear trend among jewellers and watchmakers to bridge gaps by establishing a presence in high growth markets to provide support to existing distributors, better react to market trends and cater for clients’ needs. De Grisogono’s proactive strategy is consistent with this trend,” adds Yann Mrazek, managing partner of M/Advocates of Law.
How much technology is too much technology? Tech has inevitably become asApril 15, 2021 | By Shruthi Nair
According to a report by the United Nations, the fashion industry accountsFebruary 18, 2021 | By Shruthi Nair
UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand
Locally owned supermarket Spinneys celebrates 60 years of doing business in the
UAE-based Carrefour will become the first retailer in the region to offer new levels
The Organic Farmers’ Market is back in Bay Avenue for its 12th
UAE-based Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah,
Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones
UAE-based Al Maya Supermarkets is hosting a two-week food festival at select
Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the
Carrefour UAE has launched “Cookit Yourself” — a curated recipe box created
UAE-based Al Islami Foods, one of the largest frozen food companies in
Marks & Spencer’s plant-based range now offers over 25 vegan products including meat-free
World’s largest fully integrated online brand in fresh fish and meat e-commerce
Who isn’t a sucker for discounts? Customers today are spoiled for choice
The various e-commerce and virtual retail stores that cater to different product
A private helicopter carrying the chairman and managing director of Lulu Group,
With the inauguration of 11 new stores in 2020 and 14 more
Vacheron Constantin has announced the official opening of its first boutique in
‘Skinification of beauty’ is the key trend that every retailer in the
On March 8th 2021, Reebok unveiled its new store opening and launched
British brand Marks & Spencer, operated by the Al-Futtaim Group has launched
According to a report by the United Nations, the fashion industry accounts
The issue of climate change and the environmental crisis we are in
Unprecedented – that’s probably one of the most common adjectives for the
Tighter restrictions on hotels, restaurants, shopping malls and entertainment venues on account of