UAE’s e& acquires $400m stake in Careem
UAE’s Emirates Telecommunications Group Company (e&) has announced the acquisition of a majority stake worth $400 million in the Careem super-app, owned by Uber. e& will become a majority investor alongside Uber who will still remain the whole owner of Careem. The move accelerates Careem’s plans towards becoming an “everything app” in the region. Currently, […]
Ralph Lauren pledges employee diversity & sustainability
Ralph Lauren might not be known as an environmentally-friendly clothier that celebrates diversity within its ranks, but the brand just unveiled new goals that certainly steer in that direction. On Wednesday, the New York-based brand published its annual report, which promises the brand will solely use “sustainably-sourced key materials” by 2025 and achieve gender parity, […]
Digital Disruption in The Middle East
The Middle East is on the verge of a massive digital disruption. In the past decade, the cross-border data flow, connecting the Middle East to the rest of the world, has increased more than 150-fold. Several countries—including Bahrain, Qatar, and the UAE are leading the digital consumer charge, with high smartphone-adoption rates and social-media use. […]
Swiss Watches Hope For A better Year
It’s been a tough few years for the world of watches, even with more luxury brands embracing technology. But as fans flock this week to Basel world, the Swiss watch industry’s annual showcase, leaders are predicting uplift in sales. Last year, sales of Swiss watches fell nearly 10% to about $19.7 billion, François Thiébaud, told […]
The Changing Landscape of the Luxury Goods Industry
How do we define luxury? By price? A particular set of attributes? Or by distribution and exclusivity? Though its characterisation may be ambiguous, one thing is for certain; luxury has made its way into the hands of the masses. This is partly due to corporations taking ownership of luxury brands and lowering price points of […]