ArabWeeks

Reaching out to international markets and tapping into a global audience, was the main driver of the expansion strategy adopted by Arabian Oud, the largest retail chain specialized in eastern perfumes.

Its main mission is to carry the Saudi Flag to more than 35 countries and counting and recently set a new benchmark by opening its first store in times Square, New York city, one of the most prominent landmarks in the world confirming Arabian Oud’s international positioning as leading brand in the Eastern perfume industry.

In this context, Mr. Mazen Khalil, Technical General Manager, said” Arabian Oud has finalized all the procedures with the property owner, Sherwood Equities, the real estate company specialized in real estate development and which owns and manages a prime portfolio of properties in New York City and Long Island, including Two Times Square, 1600 Broadway, One Times Square, The Coronado (Broadway and 70th Street) and The Saratoga (1st Avenue and 75th Street). The times square is the most famous landmark of New York City, and renting this property in this strategic location is just the initial step in our plan to open several branches for Arabian Oud in the United states of America. We are very proud of this new achievement being recorded for a Saudi Company working according to international standards.”

It is worth mentioning that Arabian Oud, established in 1982, is the largest company operating in the eastern perfume industry. It was recently ranked first as the most selling perfume company in the MENA region, and the 11th globally as per the certified report issued by Euromonitor. Arabian Oud operates more than 750 stores in more than 35 countries across the world, and it is recognized as the most famous brand in the world. This was due to its proficiency and uniqueness in producing incense, eastern perfumes and aromatic oils.

The German Catalogue Show and Breakfast in Riyadh, organised by the German Saudi Arabian Liaison Office for Economic Affairs (GESALO) in cooperation with the Riyadh Chamber of Commerce and Industry, was a very successful event. 18 German companies representing sectors like architecture, automation technology, chemical industry, construction, consulting, energy generation, environmental technology and services, engineering, filtration, food processing, ICT, infrastructure, interior design, iron and steel industry, petrochemical industry and pharmaceutical industry presented their products and services to an impressive audience of Saudi businessmen and Chamber officials. The opening ceremony was attended by the Delegate of German Industry and Commerce for Saudi-Arabia, Bahrain and Yemen, Mr. Oliver Oehms, the German Ambassador to the Kingdom of Saudi Arabia, H.E. Boris Ruge and the Secretary General of Riyadh Chamber of Commerce and Industry, Dr Mohammed H. Al Kathiri. “Today’s catalogue show is not just a presentation of German products and services but also a proof of the long lasting and sustainable business relations between our two countries”, Mr. Oehms said. “The German economy is not only an important trade partner for Saudi Arabia, but equally an important technology and know-how provider supporting the diversification process of the Saudi economy”, he added. Also commenting on the importance of the annual event, Volkswagen and Porsche Executive Director in Saudi Arabia, Michael Muller, said: “As one of the leading German companies with a strongly established presence in the Kingdom of Saudi Arabia, Volkswagen is proud to be automotive sponsor of the German Breakfast and Catalogue Show for the third successive year, an event which we believe significantly enhances our relations with our Saudi partners and opens the doors for other German companies to showcase their products and services to the largest market in the region.” The German Catalogue Show and Breakfast has been a huge success for the last 12 years. Since 2004 GESALO is successfully hosting this exclusive event for business guests covering various industries and the public sector. The show is a major platform for German as well as Saudi business people and VIPs to get together and to mingle. It offers an outstanding opportunity for German companies to get in touch with key players on the Saudi market. The Catalogue Show creates and deepens relations between German companies seeking to enter the Saudi market. At the same time, it features Saudi companies looking for new and innovative products and partners. GESALO’s German Catalogue Shows and Breakfast are supported by the Platinum Sponsors Lufthansa, MAN, ThyssenKrupp as well as the Automotive Sponsors VW in Saudi Arabia and Mercedes-Benz in Bahrain. Our events will continue on 16.05. in Dammam, 17.05. in Al Jubail, 19.05. in the Kingdom of Bahrain and finally ending on 23.05. in Jeddah, Saudi Arabia.

Globalization and the economic openness policies adopted by the Kingdom during the past decades were the main drivers of economic diversification and increasing competitiveness, thus affecting positively the growth of companies operating in the market, who became aware of the importance of building a strong identity that distinguishes it in the market, determines its economic value and ensures quality is maintained at all times.

This importance led companies to invest heavily in creating and developing strong brand identities, to maximize the value of their companies, develop its business, and enhance its contribution to the economy.  

And a strong brand identify is not only beneficial for the company itself, but it also has a positive impact on the Kingdom’s economy overall. Companies who expanded their business Regionally and globally carry the Saudi flag and highlight the economic significance of the Kingdom and the investment opportunities available.

In this context, we can’t but highlight Arabian Oud Company which has succeeded during its journey to become a leading company in the perfume market where it excelled in the perfume industry which gave the company a unique competitive advantage among its peers.

More than 755 branches across 35 countries, Arabian Oud, with its diversified products, have creatively blended the East and the West cultures, to become the most popular brand in the Kingdom, and gained clients’ satisfaction by adhering to the highest quality standards and excellent customer service.

Arabian Oud has also gained international recognition, by concluding agreements with renown companies such as Walt Disney, in addition to being granted several awards, to be the Ambassador of High Quality Saudi Products.

Makarem Hotels, the Saudi-grown Hotel Brand designed by Dur Hospitality, specialized in operating in the cities of Makkah and Madinah, is participating in the leading Arabian Travel Market Exhibition in Dubai, from the 25th till 28th of April 2016 to showcase its expertise in operating hotels in Saudi Arabia.

Makarem, unveiled, on the sidelines of the Arabian Travel Market, its unique services, the spiritual concierge and the Karam Club Card and launched its 7 languages website to cater to its diversified clients’ portfolio visiting Makarem from all over the world.   These services are dedicated to fulfill Makarem’s mission of becoming the hotel that shares your personal experience.

Dr. Sorin, President Hotel Operation, Dur hospitality Said: “Year After year we take advantage to communicate major announcements from this prominent platform. We are here this year to affirm our leading role in the Saudi hotel operations market as we keep pace with the latest Hospitality trends, and address the ever changing guests’ expectations and needs, whether they are Businessmen looking for a strategic location with practical services, or pilgrims seeking guidance and tranquility during their spiritual journey, or families looking for spacious rooms during their holidays. Accordingly, we innovate exclusive services that aim at delivering world class hotel experience with a local spirit.”

He added: “Our hotel operation is expanding in line with Dur strategic vision of upgrading the hospitality sector in Saudi Arabia by developing, operating and managing hotels across the kingdom.”

The Kingdom of Saudi Arabia’s financial sector is likely to encounter significant disruption from new financial technologies in the coming years, but could emerge stronger and more streamlined, according to experts gathering for the Euromoney Saudi Arabia Conference this May.  

Financial technology – or “FinTech” – is generating huge opportunities for banks, investors and new start-up companies around the world, but is also generating a new range of risks for central banks and financial institutions.

Progress on implementing FinTech in the Kingdom has been relatively slow until recently, but new initiatives designed to enhance the business environment, reform regulatory support and provide access to capital are helping to create a positive ecosystem for FinTech deployment in Saudi Arabia.

In a special panel at the Euromoney Saudi Arabia Conference, senior experts from within the Kingdom and leading international companies will discuss the growing influence and impact of FinTech on the financial sector.

Mamdooh Al Sedairy, Chief Information Officer of Tadawul, will bring his experience in implementing and managing one of the world’s most sophisticated trading systems for the Saudi Stock Exchange. In 2014, Tadawul and NASDAQ began a major project to replace the SAXESS trading platform with NASDAQ’s latest trading platform, X-stream INET Trading, which was launched in September 2015. The new platform is fastest recorded trading engine in the world.

He will be joined by Frans van Eersel, Founder and Chief‎ Executive Officer of dopay International, which provides a cloud-based payroll service that enables employers to calculate salaries and pay all employees – banked and unbanked – electronically.

“The financial service industry is reaching its ‘Uber moment’. The wide acceptance of smartphones, cloud-computing and technologies like blockchain are fundamentally changing the way financial services will be delivered. The disruptive nature of technology that we have already seen in so many industries is now reaching the financial service industry and is set to have a major impact. Banking as we know it today will never be the same again,” said Frans van Eersel.

The challenge to manage the issues that result from FinTech is an international one. In its global banking annual review, the consultancy firm McKinsey warned that banks face a “high-stakes struggle” to defend their business models against digital disruption.

It is estimated that some 20,000 FinTech start-ups and companies are operating in the global ecosystem, offering a range of services including online cash payments and securities trading, crowdfunding and peer-to-peer lending, blockchain and digital identities.

The panel discussion at The Euromoney Saudi Arabia Conference will be one of the best opportunities to date to understand the progress made on this key issue and the new wave of initiatives in progress to boost the growth of the Kingdom’s ecosystem.  

The 2016 Euromoney Saudi Arabia Conference is co-hosted with the Ministry of Finance and takes place on 3 and 4 May at the Al Faisaliah Hotel in Riyadh.

For more information on the Euromoney Saudi Arabia Conference, visit www.euromoneyconference.com/saudi.html.