The Business Year

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Luc Decroix

General Manager, Tag Heuer Middle East

The role of any company is to generate a profit. However, at Tag Heuer, and more globally within our group, Louis Vuitton Moí«t Hennessy (LVMH), we try to go beyond this and give back to the community. We have been here for many years, having partnered with non-profit organizations including Save the Children. We now have Cameron Diaz and UN Women promoting equality for women around the world. In that respect, it is good for us to be there. Around 40% of our customers are women, meaning that they make up a huge part of our business. At LVMH and Tag Heuer, women hold 60% of our top positions. The executive committee of TAG Heuer is composed of four people; two men and two women. We are also promoting green issues. If you visit our factory in Switzerland, you will observe that the roof is covered in solar power cells, which generate a large part of the energy we use.

Karim Merchant

CEO, Pure Gold Jewelers

In general, consumers have become more brand conscious, and want to know that the stores where they are buying their products or services from are credible. Especially after 2009, this became very important. We actively launch a strong campaign before entering a country, and especially when we open a store, to give as much information as possible about ourselves to the general stakeholders of the country. We want people to understand who we are, why we are planning to enter the market, and what services and products we plan to offer. One thing is clear, and that’s the fact that if a company cannot clearly identify or state why someone should buy from them, there will be trouble. If we are just trying to fill a gap and do something because other companies are doing it as well, then it will not work. You have to be very clear on why someone should come to your store.

Christophe Nicaise

CEO, Christophe Nicaise

Today, the region—and Dubai in particular—is no different to any other strategic market in the world. Dubai is a shopping window for the whole region, and as such the product lines, launch timing, availability, and marketing campaigns to back these products are no different to those you would find in New York, Milan, Tokyo, Singapore, or Hong Kong. Dubai is now on the luxury-shopping map as one of the favorite destinations. There is no longer any different perception between the Middle East and the rest of the world. This said, a strong partner in the market like Ahmed Seddiqi & Sons, due to the long-established relationship with certain brands, would tend to create opportunities for specific products to be made available for the Dubai market. As such, the company has been particularly innovative, and the first retailer in the Middle East requesting special limited editions in certain key brands created for this market. But this is because of the relationship we hold with Swiss brands due to the power we represent in the market, the number of prime locations we hold, and the extensive database of clients that we have built for over 60 years.

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