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UAE's top Business Leaders and Entrepreneurs from a variety of industries met with
Nick Peel, Marka CEO to gain an exclusive insight into Marka's successful acquisitions, strategy for navigating downturns in the market and rewarding advice for entrepreneur's looking to expand in the region.
"The Power is with the Customer"
Dubai, U.A.E. - The Entrepreneurs' Organization (EO), a global network of more than 10,000 business owners with 75 members in their UAE chapter, hosted an in-depth dialogue with Nick Peel, CEO of Marka Holding PJSC (DFM: MARKA), the first public joint stock retail operator in the UAE.
The event saw Nick detailing Marka's eclectic acquisition and franchise portfolio as well as explain the company's dedication to continually enhance the retail experience of customers by operating exciting and unique fashion, hospitality and sports brands. He also explained the company's strategy of further acquiring more startups and expanding certain properties globally over the next five years.
This was followed with some from-the-heart advice from Nick to EO members in the room about the retail sector:
"Before considering any retail endeavor, you must understand the discerning customers of today. They yield all the power and once you understand that, you can work backwards to ensure success. Even during slowdowns in the economy, rather than toy with margins - which isn't sustainable- try to engage customers instead through innovative customer service at each possible transaction point."
Even amidst the current drop in consumer confidence and spending, in particular in the retail sector, Peel underscored Marka's confidence in startup retail businesses as well complete faith in the UAE.
"Startups and original local businesses will always take precedence for Marka, upon finding the right fit we come in and instill our retail management expertise or capital injection, squire some of those businesses and scale them very quickly - with a focus first on expanding in the UAE before anywhere else."
Marka currently has their eyes set on properties heavily involved in digital as well as e-commerce - as these are going to see a huge surge in popularity in the foreseeable future.
Furthermore, Marka will continue to invest in the lucrative hospitality sector, which continues to grow year on year. Nick also suggested a prospective major franchise deal that will that will change the fashion & beauty frontier for Marka as well.
He concluded the morning with some sage advice to prospective retailers about securing space in key malls:
"Newer entrants should consider the growing number of community malls in the region which if managed properly could promise to be equally lucrative."
Commenting on the event, Mrs. Saima Khan, Owner and Managing Director of Cheeky Monkeys Said, "This was truly an eye-opening experience for me and our respected members. Marka's growth within the past year alone has been astounding - as a franchise owner myself, working first hand with Nick, he left an indelible impression behind and valuable advice for us all."
About The EO:
The Entrepreneurs Organization is a dynamic, global, non-profit network of more than 10,000 business owners in 48 countries. Founded in 1987 by a group of young entrepreneurs, EO is the catalyst that enables entrepreneurs to learn and grow from each other, leading to greater business success and an enriched personal life. EO members create a constant flow of news on a daily basis, all of which speak to their commitment to entrepreneurial excellence.
For more please visit: www.eonetwork.ae/
About Marka:
Founded in 2014 and listed on the Dubai Financial Market, Marka PJSC (DFM: MARKA) is a world-class company headquartered in Dubai. Our mission is to enhance the retail experience of customers by operating exciting and unique fashion, hospitality and sports brands.
We strive to achieve this by creating strong partnerships with renowned global names that have developed a reputation for quality. Ultimately, Marka's overall objective is to consolidate our position as the leading company in the mid-to-high range retail and hospitality sectors in the Middle East.
Passionate about retail, we develop relationships with leading global fashion, hospitality and sports brands to deliver the very best products and services. Our operational strategy is based around franchise agreements, unique retail concepts and carefully considered acquisitions with the most exciting and dynamic brands from around the world.
Marka is committed to generating loyalty from its discerning customers through providing only the highest quality offerings. In addition to building value for our shareholders, we place a special focus on ensuring that all our employees are happy, productive and dedicated ambassadors for the company. Everything we do is underpinned by a dedication to serving the communities in which we operate.
© Press Release 2016
