Retail

The retail industry has played a key role in the rapid development of Dubai over the past four decades and remains a firm pillar underpinning economic growth. The interplay between retail, real estate, air transport and tourism is fundamental to Dubai’s value proposition for consumers and investors. The city has established itself as the Middle East’s shopping capital, but the same developers that created malls of astounding proportions on the site of Silk Road souqs are now determined to innovate and expand, generating new opportunities for investment and fresh experiences for shoppers. Dubai’s retail ecosystem is driven to a large extent by the franchise model, which brings together global brands and privately owned family firms that represent their interests in the country and region. The emirate also serves as the headquarters of regional retail and wholesale giants that may have started with a single small shop in Damascus, Basra or Manama, while brands born in Dubai itself are making their mark across the region.

This chapter contains an interview with Colm McLoughlin, Executive Vice-Chairman and CEO, Dubai Duty Free.