A timely craft
From September 9-13, several leading brands descended on China for the year’s first on-ground luxury watch exhibition. Here are some of the finest pieces to emerge from Shanghai’s West Bund Art Centre
A. Lange & Söhne
Turbograph Perpetual Honeygold “Homage to F.A. Lange”
It’s a tough year for watchmakers to market their concept of luxury watches – but Saxonian watchmaker F.A. Lange didn’t have it easy either when he started his company in the impoverished mining town of Glashütte in 1845 with a team of 15 apprentices. Now, 175 years on, for a watchmaking house whose reputation has been forged in the core of a furnace, it won’t have much trouble in drawing attention to the Turbograph Perpetual in Honeygold.
The 18-carat Honeygold dial has been given a black rhodium treatment, with the dial consisting of five layers including the dial ring, the sub-dials and main dial. The L133.1 movement meanwhile comprises of
Submersible Goldtech Orocarbo 44mm Carbon, gold, titanium and platinum – the watchmaker brings all of these materials together in this 44mm timepiece with an unmistakable silhouette. The case is made from goldtech, a proprietary material which is an alloy of 75 per cent gold and 24 per cent copper, along with 0.5 per cent of platinum – a material from Panerai’s experimental Laboratorio di Idee department.
The bezel, the crown and the crown bridge lever are made from carbotech, another proprietary material that consists of carbon sheets layered and fused. The dodecagonal screwed titanium caseback protects the in-house P.900 calibre with a three-day power reserve at depths of up to 300 metres. Visible on the caseback is an image of the manned torpedo missions with navy divers astride it – Panerai was, after all, a brand that was exclusively available to the military until the nineties when it became available to civilians.
Portugieser Chronograph with Stainless Steel Bracelet
Every year, the Schaffhausen watchmaker overhauls one of its six families of timepieces – this is the year of the Portugieser. In April, IWC released a tourbillon retrograde chronograph, a perpetual calendar and even a time-only 40mm automatic model. But it wasn’t until Watches & Wonders Shanghai that it showcased this Portugieser Chronograph with a stainless-steel bracelet.
The chronograph made its way into IWC’s Portugieser collection over two decades ago, but for the first time, it is now offered with a stainless-steel bracelet.
The new 41mm timepiece, which is fitted with a stainless-steel case, silverplated dial and blue hands, features an automatic winding IWC-manufactured 69355 calibre with a column-wheel chronograph, which has a power reserve of 46 hours.
Recently, IWC launched a virtual boutique experience for customers in the Middle East which is based on its concept at The Galleria Al Maryah Island shopping centre in Abu Dhabi. You can click on displays, compare products and book viewing appointments too.
Vacheron Constantin
Overseas Self-winding in Pink Gold
From resort wear, to tuxedo to office smart casual – typically, you’d rely on three different watches, each with a different strap to match the occasion. But bringing in versatility and allowing you to toggle between three different looks is this new Overseas Selfwinding in pink gold which comes with three interchangeable straps: blue rubber, blue alligator leather and a pink gold bracelet. The Overseas collection has its roots in the Ref 222 from 1977. While other timepieces from the Overseas collection have evolved to include several complications, this new time and date model is closest in its appearance and appeal to that of the original Ref 222.
Like the 222, it too features a slim case, thanks to a 4.7mm thin automatic winding 5100 movement. Just beyond the 22k oscillating weight in the caseback, you’ll catch sight of that exceptional finishing on the movement which has earned this watch a Hallmark of Geneva certification.
Haitham Canawati Managing partner, Inspirex
What did you do before you became an entrepreneur?
I was the head of project management and production for GES Middle East. For more than 15 years, I had a dream of starting my own company. I worked hard during the past years in Jordan and the UAE to increase my knowledge, skills and network to make this dream come true. It wasn’t easy to gain this knowledge and experience, but ‘passion’ is the secret word that helped me make this move and establish the company in 2019 with my business partner Jaison Joseph.
What is the concept behind Inspirex and what services does it offer?
Inspirex is an exhibitions’ design and build events contracting and project management company offering services to firms and individuals in different sectors. With our local, regional and international experience, we identify each client’s specific requirements and come up with the most effective and creative solutions to meet their business objectives.
What is the USP of your business?
It’s a small established company built on a dynamic and capable team, able to adapt to the market changes and requirements. Unlike bigger compa- nies that are prone to bureaucracy when making decisions to alter their course, a startup like ours
Haitham Canawati, managing partner Inspirex can do so very quickly and make decisions independently when it comes to course-correcting.
Which are some of the major projects you have undertaken?
We have worked with many clients, such as Aura Living, Leem, 57 Boutique – The Dinner Club, MP3 International and others. We have done an event management project with DC Aviation for the launch of their new warehouse in Dubai South with around 200 people in attendance, during which we looked after everything from the concept, execution and delivery across all areas including entertainment, physical setup, catering and production.
How has your business been impacted by Covid-19?
It has not been easy in 2020. Our business plan is to pass 2020 with the lowest costs and expenses until the market situation recovers. The Covid19 pandemic affected our industry very hard. However, we first made sure that all our suppliers got their payments without any delays. Maintaining that relationship with our suppliers was very important.
Our clients and partners were very supportive too, and we kept communication open with them to understand how their requirements have changed. It was a good time for us to learn new skills that will help us in upgrading our business solutions to our clients.
Do you have expansion plans in place?
Based on the latest updates in the market and the support from the government and its entities, we have a plan to focus our operations in the UAE and Saudi Arabia. Inspirex already worked with Flow Events in delivering their project at Diriyah Oasis during Riyadh Festival from October-December 2019. Our scope of work was mainly onsite project management and operations during the build-up, the actual event period and then dismantling it. We are now working with other IT companies for solutions that can be adapted into our industry.
What will be your measure of success to realise you’ve accomplished your initial targets?
Our company was established in July 2019 and we began with strong projects. In 2020, we expected to increase that by 30 per cent, but unfortunately due to the Covid-19 pandemic, our sales revenue
dropped significantly. In 2021 though, we hope to increase our revenues by 50 per cent over 2019 because of the expected support from the government and its entities to the events and exhibitions industry, and because of events such as IDEX 2021, MEBAA, Dubai Expo, Dubai Airshow and ADIPEC. In 2022, we expect sales to be back to normal and to grow another 30 per cent.
Inspirex worked with DC Aviation for the launch of their new warehouse in Dubai South all aspects of mind, body and energy, and aligns these to unleash the true powers within each of us.
Give us a sense of the scale of your business and the potential to scale it.
I don’t look at this initiative as a commercial project which needs scalability. If this initiative can make a lasting change for even one human a day, my mission for that day is achieved.
How has your business been impacted by Covid-19?
Like all businesses, my initiative has also been adversely impacted by Covid-19. We were planning to launch our Ananda programme in March, but then the lockdown was declared, which ensured that no one would venture out of their homes - and rightfully so. Some of the activities like life coaching have moved online and we have done a lot of pro bono work for people who were finding it difficult to cope with such challenging times and didn’t know how to deal with the stress and anxiety.
But not all programmes, such as Hatha Yoga, are as effective online as opposed to when it’s delivered in person. Hence we have opened our doors with Covid precautions in place and accept small batches. We have implemented various safety practices including sanitising the institute after each class and maintaining the required distance at all times.
Do you have expansion plans in place?
We will be shortly launching Ananta, which is our corporate wellness programme. If the client wants that the goals of their employees are better aligned with the organisation but find them low on energy, they can opt for their employees to undergo this programme.
We are also launching our Ananda programme which is focused on children between the age of 6-18, and project to increase our enrollment by 10 per cent this quarter, i.e. 50 kids.
For the FY year 2021, our target is to reach a minimum of six major schools. For Ananta, we plan to reach at least five major corporates by next year. Over the next couple of years, we also intend to reach out to Abu Dhabi, Sharjah and Ajman.
Motivate Media Group is set to reveal the beneficiaries of its SME Revival initiative, which will provide US$1 million in advertising and marketing support to 20 homegrown UAE SMEs. The team has assessed all the entries and passed on the shortlist to an expert panel, which will deliberate and choose the finalists. The panel includes:
Founder and managing partner, Motivate Media Group
Having launched the UAE’s first magazine in June 1979, Fairservice set up his media business, Motivate Publishing, over 40 years ago. Together with his partner HE Obaid Humaid Al-Tayer, he has overseen the company’s growth into one of the most successful media houses in the region. With a diverse media portfolio spanning magazines, books, digital, events and cinema, Motivate now has a network of offices across the Middle East and several successful joint venture partnerships.
Executive board member, director and COO, AW Rostamani Group
Dr Amina Al Rustamani oversees group HR, IT and strategy functions at conglomerate AW Rostamani Group, and also serves as the CEO of AWR Properties. One of the UAE’s most prominent businesswomen, she also serves as a nonexecutive board member at HSBC Bank Middle East Limited, Al Jalila Foundation and Sandooq Al Watan. An acknowledged authority on wireless technologies, her contributions have been published in several publications and journals.
AHMED RAMDAN Group CEO, Roya International
The founder of GCC hospitality advisory firm Roya International, Ramdan’s expertise covers all aspects of hotels commencing from concept to preopening to managing properties. He has led the company to serve as a key advisor for major masterplans such as Dubai International Financial Centre, Dubai Media City, Reem Island and Saadiyat Island. Prior to starting Roya International in 1998, Ramdan held senior positions in Emaar Properties, InterContinental Hotels, Le Meridien Hotels & Resorts and Forte Grande Hotels.
CEO and founder, Mumzworld
Having launched Mumzworld in 2011, Ataya has managed to grow the e-commerce site to a brand that reaches more than two million mothers across the region with over 250,000 products. Mumzworld has received six rounds of funding and is currently the number one funded women-led e-commerce company in the Middle East. Ataya is on a mission to “change the region, one mum at a time”.
HAMDI A OSMAN Chairman, CEO and director, Ho Holding
A veteran in the Middle East logistics industry, Hamdi A Osman currently leads Ho Holding, which has diversified operations in the UAE and Tunisia. Previously, he served as the senior vice president and CEO for Europe, Middle East, the Indian sub-continent and Africa at Federal Express (FedEx). A former president of the American Business Council, he is currently a board member and investor at various organisations including Okadoc, Realopedia, The Health Bank, Innoventures Educational Investments and Global Ventures.
DONNA BENTON Entrepreneur and founder, The Benton Group
Having launched the Entertainer app in 2013, Benton drove its transition from a print publication to a datadriven technology firm. Under her leadership, the Entertainer contributed $1.3bn to the economy and experienced 25 to 30 per cent profit growth each year. She has also established holding company The Benton Group in Dubai, which invests in businesses with the potential to scale. Its latest addition is Caha Capo, which creates swimwear and accessories for women, men and children.
It’s unlikely an entrepreneur is going to completely overlook an essential cost – most of what you encounter should have been planned for ahead of time. But what can be difficult is just these costs can expand into areas that you hadn’t anticipated. And how one cost can then overlap onto another. So let’s look at five costs which you assumed had been covered, only to realise that it goes a little bit deeper than first imagined.
BUSINESS INSURANCE
When it comes to insurance, it’s important to get the right advice for your particular company’s needs, ensuring that you are successfully mitigating any future risks.
Here are a few key areas:
Health insurance is mandatory for all employees in your UAE business, but there are many different options. Finding the right insurance to suit both parties is critical.
A group policy will cover all employees under a single master policy, and can include compensation in the event of the death of
Group health insurance: Group life insurance:
help sales, nurturing warm leads until they’re ready to purchase.
Content isn’t a replacement for the usual digital advertising approaches. Rather, it’s a way of supercharging it to ensure you’re getting the most for your money.
OFFICE SPACE
This may feel all under control if you’re launching your startup from your kitchen table. But what happens when you hire your first employee, or you need to take a business meeting, or your partner can’t stand you cluttering up the kitchen or spare room?
Quite quickly an expense which you didn’t anticipate comes knocking. There are a number of solutions here:
• Co-working space
• Flexi desk
• Fixed desk
• Office
Whichever you choose, ensure that your contract is flexible and you can scale up or down as needed. The good news is that with many of these spaces, meeting rooms and cafés are also on-site for your use, cutting down the need for you to buy furniture and bring in catering. It also means that you get a certain amount of support – particularly technical – should there be issues with the internet, printing, and other business services.
Another benefit of a co-working space is you meet likeminded startup founders, possible future collaborators and even potential employees.
PROFESSIONAL CONSULTANTS
At times, you just need to ask a professional. Whether it’s setting up your UAE startup or just needing advice on an area where you don’t have expertise.
Hence it’s important to ensure you budget for consultations with accountants, lawyers and company setup specialists. Accountants are particularly important as a good one can help you navigate what could be quite complex regulations. They will also be able to advise on benefit programmes for your workforce, to ensure you are complying with the UAE laws.
SETUP FEES
You may be inclined to ‘go it alone’ when it comes to setup, but paying a company formation specialist will help. They can provide advice on your licence application, assist with the opening of corporate bank accounts and suggest the most appropriate financial institution to suit your specific needs. They may also offer visa and immigration services and can handle all government formalities, permissions, work permits and visas applications. 27% of investors have indicated that they shifted their focus to industries that are more ‘positively impacted’
Rest of MENA
SHARE OF FUNDING
UAE
of them had not previously invested in the region
UAE and Egypt are at the forefront when it comes to value and volume of deals
SHARE OF DEALS
UAE
Egypt