Dubai: His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, the First Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance of the UAE, met with Nicolas Bos, the Group Chief Executive Officer of Richemont, a prestigious luxury goods conglomerate.
The discussions underscored the UAE's dedication to forging strategic alliances with international firms that drive the expansion of high-value economic sectors. Conversations focused on Dubai’s favorable business climate, cutting-edge infrastructure, and interconnected global market, which consistently draw luxury brands aiming for regional proliferation.
Both parties delved into potential avenues for enhancing collaboration between Dubai and Richemont, utilizing the city’s burgeoning luxury sector and its rising status as a key platform for innovation, commerce, and investment. The luxury market is vital in achieving the objectives outlined in the Dubai Economic Agenda D33, targeting to secure Dubai’s position among the top three urban economies and to double foreign trade to AED25.6 trillion by 2033.
Participants in the meeting included His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs; His Excellency Helal Almarri, Director General of the Dubai Department of Economy and Tourism; His Excellency Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD Group; and His Excellency Mohammed Al Zarooni, Executive Chairman of the Dubai Integrated Economic Zones Authority (DIEZ).
Established in 1988, Richemont is based in Switzerland and boasts a diverse range of renowned luxury brands spanning jewellery, watches, fashion, and accessories. Its Maisons feature Cartier, Van Cleef & Arpels, Piaget, Jaeger-LeCoultre, IWC Schaffhausen, Montblanc, Chloé, and Dunhill.
Richemont runs over 2,400 monobrand boutiques worldwide and employs more than 40,000 individuals across over 150 locations globally. As of the financial year concluding on March 31, 2025, the Group announced sales of €21.4 billion. Richemont’s regional headquarters for the Middle East, India, and Africa are situated in the Dubai Airport Free Zone.
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