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AW Rostamani Lifestyle expands retail offerings

Dubai - Spending by local and regional residents increased in 2015

AW Rostamani Lifestyle has announced a number of local and regional expansion plans for 2016, and the coming years, including two new openings in the new extension of City Walk.
"Our most important announcement this year is the launch of Georg Jensen, the famous Danish Jewelry brand, that represents craftsmanship and unique design, not only in jewelry, but also in watches and hollowware," Joseph Faddoul, general manager of AW Rostamani Lifestyle, told Khaleej Times.
"On the other hand, we will be opening our second Graffiti Fashion Zone, a multibrand kid's store in Dubai Festival City; this comes after the success of the first store launch in Dubai Mall last year. This year AW Rostamani lifestyle will also launch Apartment 51 in City Walk 2, a home-grown multibrand store which will offer UAE customers urban and stylish home ware pieces while bridging the gap between design and affordability," he highlighted.
Faddoul also spoke on how 2015 was a good year, in terms of performance, for AW Rostamani Lifestyle brands. He revealed that AW Rostamani Lifestyle had achieved a 12 per cent growth in sales, in comparison to the year before. He also noted that despite the lag in tourism in the last two years and the strengthening of the dirham, which is pegged to the strong dollar, against other weak currencies such as the Russian Ruble and the Chinese Yuan, consumer spending went up by 13 per cent in 2015, in comparison to 2014.
Spending by local and regional residents specifically increased by 23 per cent in 2015, while GCC tourists contributed heavily to these figures, especially those from Qatar, followed by Saudis with over 1.54 million visitors from all across the kingdom.
"There's no doubt that the UAE is pioneering the retail industry, as we have seen new shopping trends in the local market in the last few years, one of which is the increase in outdoor/open shopping areas. We are seeing more retailers preferring to locate in open-air shopping centers, where their customers can park near, or in front of the store, and just walk in. Shopping malls will still preform, however people are looking for different shopping experiences," he said.
Another trend that Faddoul highlighted was the growth in e-retail, which he noted was growing faster in the UAE than anywhere else in the region. "As people are becoming occupied with what they have to do on a daily basis, this has become an easier means of purchase," he said.
Asked about consumer buying behaviour, Faddoul said the recent drop in oil has had an impact on consumers' income in the region, and the change in their spending habit is expected as we witnessed many consumers being more conservative when spending.
"Geographically, we are located in one of the world's highest disposable income regions and I believe what is happening in our market is just a change in how people are spending their disposable income, when it comes to luxury shopping and fine dining," he said.
"If you take look at the last 10 years in the UAE retail market, especially in Dubai, you will see that the country has witnessed a number of new retail concepts offering different shopping experiences. Our aim is to differentiate our offerings and services and offer new brands and retail concepts," he added.
- rohma@khaleejtimes.com