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Sunaina Rana/ Emirates Business
Braun, the leading provider for international beauty and grooming products for women and men, has stepped into the Middle East market under the flagship of The New Store LLC (TNS) of Mustafa bin Abdullatif Holding LLC company(MBAL Holding).
Braun’s Lifestyle range has been catering to the beauty industry for over 60 years. The latest store established in 3,000 square foot store is located on Jumeirah beach road that features Braun’s high-end products –allowing visitors to experience Braun’s products and service through live demonstrations/workshops as well as get the best of beauty trends from the studios’ in-house experts.
The boutique aims to enhance Braun’s premium market position in the UAE. Mostafa Eshaq, Executive Director, The New Store LLC, talks to Emirates Business regarding the company’s more innovative value-based offerings to the UAE market.
As the UAE has witnessed a very rapid and exponential growth in the retail sector, how do you aim to capture one of the world’s most influential markets?
Offering world class premium brands backed by premium service is key to success. Today’s success depends on the difference you can make for the customer and as Braun’s slogan states ‘Designed to make a difference’,which is alsoThe New Store motto.
What section of the population would you be trying to target?
Our target is to cater to each and every segment, as our brand and product portfolio very well covers Good, Better and Best. Assuring the best in class brand portfolio, meeting every price point, need to ensure every customer walks out with guaranteed satisfaction from The New Store — that’s our goal.
What kind of investment have you made so far in the region?
The New Store is a division owned and operated by Mostafa Bin Abdullatif Investments, a group that has been in trading for over 90 years with strong roots and heritage. The business portfolio covers diversified sector that include majority investments in the property development. Currently, the group is looking to invest additional AED100million to cater to the expansion plan for the logistics and distribution network in line with meeting the demand for Expo 2020.
What business strategy have you adopted?
Honesty, simplicity andself-reliance is the motto laid down by the founder (Late) Sheikh MostafaBin Abdullatif, and the management follows and works on the same principle as defined by the founding father. MBAL Holding’s culture, structure andorganisation are all firmly bound by the doctrine of value, responsibility and fair play.
Retailers can expect a year of softer retail sales, mainly due to macroeconomic factors, the analysts have suggested. What is your opinion on the same?
In our opinion it is the time and opportunity to grow and glow. Our targets set for the year 2016 is to grow the business by 20 percent and to capture the category share in its core brand category. Braun leads the world in female hair removal (silk epil), power oral care (Oral B), Braun health care (Thermoscan) and the world famous Braun Minipimer the hand held blenders. In 2016, the task is to ensure over 65 percent of UAE brand category share across all channels. The first five months we have grown the business at the rate of 22 percent comapred to the same period in last year, and we are putting all efforts to grow with the momentum. Brands have their own strength and we know well how to flow with the need of time by adjustments and fine tuning to meet and every challenge put forward.
Do you have any future plans of expansions in the region?
We are working on soft plans to expand our trading division network in the MENA region as well as exploring the possibility of laying foot into the South East Asian markets.
Who are your local partners and how does that benefit your business in the region?
The New Store is a local group company owned by the heirs of late Sheikh Mostafa Bin Abdullatif. We are proud to be partners with the DeLonghi Group, Proctor & Gamble, KAZ – Helen of Troy, who all have their regional base in the UAE. We have won several awards over the years from our Partners, in recognition as
evidence of our ongoing success.
Can you share a little bit about yourself, the company and your journey so far?
The New Storeis the first exclusive sole distributor for Braun brand in the UAE, till date over 54 years of partnership. Today TNS represents Braun complete portfolio in the UAE which includes —Braun LifeStyle– complete range by Delonghi, Braun Beauty– the personal care range by P&G, Braun Oral B– power oral care range by P&G, Braun Health Care– by Helen of Troy from KAZ and Braun watched an clocks — Line today handled by Zeon. Other brands include Ariete by Delonghi, Leifheit Home Essentials, Soehnle – Weighing Scales, Libratone – Sound System, SURE & DOLPHIN – Water Dispensers, RUST – Ultimate Kitchen for every Emirati Home.
