The luxury Swiss retail brand Bally expects growth in the Middle East to outpace China.
The retailer, which is renowned for its leather shoes and bags, has opened three stores in the UAE in the past year.
"I see the Middle East growing faster than China for us in terms of business in general, in terms of percentage of growth," said Mimmo Mariottini, the global sales director for Bally on a visit to the UAE last month.
Bally has operated in China for 30 years, he said, so the business was more consolidated.
The Swiss brand has about 70 outlets in China, including Hong Kong and Macau, compared with a much smaller number in the Middle East. Regionally, Bally has operations in Kuwait, one in Bahrain, one in Jordan and plans for additional boutiques in Qatar and Saudi Arabia. "We hope to grow in China as well. But I think in the Middle East, as a percentage, growth will be higher because this also is an area that is coming back," added Mr Mariottini.
In the past, Bally did not view the UAE as important, said Mr Mariottini. But it has since revised that view. "Looking at the future it is very important. We believe that it is a fast-growing market and most of the brands are coming here and interested in this part of the world and so we are," he said.
The brand opened its first store in the UAE in partnership with the Jashanmal Group in November last year in Mirdif City Centre.
And it has since opened two more boutiques with Jashanmal, one in Dubai Mall and the other in Abu Dhabi's new luxury mall, Avenue at Etihad Towers.
"The strongest demand is definitely Dubai Mall. But you also need the brand exposure and the brand image in other areas."
gduncan@thenational.ae
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Notable cricketers and political careers
- India: Kirti Azad, Navjot Sidhu and Gautam Gambhir (rumoured)
- Pakistan: Imran Khan and Shahid Afridi (rumoured)
- Sri Lanka: Arjuna Ranatunga, Sanath Jayasuriya, Tillakaratne Dilshan (rumoured)
- Bangladesh (Mashrafe Mortaza)
THE SPECS
Aston Martin Rapide AMR
Engine: 6.0-litre V12
Transmission: Touchtronic III eight-speed automatic
Power: 595bhp
Torque: 630Nm
Price: Dh999,563
Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
- Stay invested: Time in the market, not timing the market, is critical to long-term gains.
- Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
- Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
