Titan Company, the luxury products entity of the Indian conglomerate Tata Group, is looking to set up an international hub in Dubai to cater to the Middle East and other regions around the world – a move which could be a shot-in-the-arm for the UAE’s efforts to attract foreign investors and top talent to the country.
The Tata Group company is also planning to invest in getting the best talent to man its ambitious Gulf region expansion, and also generate employment opportunities across the Middle East region, a senior company executive said.
The Dubai Airport Freezone Authority (DAFZA) is among the facilities being considered by Titan to locate its proposed international hub.
“We are evaluating how we can use DAFZA and other facilities in Dubai to create a world class hub that can serve the MENA region as well as other locations around the world,” Kuruvilla Markose, CEO – international business division, Titan Company, told Arabian Business.
“As we expand our presence across our five categories of businesses, we will make significant investments [in the UAE and beyond in the MENA region] in world class, fully digital stores and off-course inventory. We will also invest in the best of human resources to provide our customers with the signature Titan and Tanishq experiences, thus creating employment opportunities across the region,” Markose said.
Titan’s five business categories are watches, jewellery, eyecare, fragrances & accessories, and occasion-wear.
Markose said the company planned to open three more stores of its jewellery arm Tanishq, besides focusing on increasing its e-commerce presence.
The three new stories are to come up in Al Barsha neighbourhood, La Maison Du Luxe at Dubai Mall and one in Abu Dhabi.
“We believe in the strong potential of the UAE and GCC market and plan to add many more Tanishq stores in the region,” Markose said.
Tanishq has just completed the first year of operations of its first store at Meena Bazaar in the Bur Dubai neighbourhood.
As for its e-commerce expansion plans, Markose said the company is working with Jumia to increase its presence across Africa.
The company already has a major e-commerce presence across the GCC through Amazon.ae, Noon and Namshi.
The UAE has recently launched a new international campaign to attract foreign investment and talent, highlighting its capabilities, services, infrastructure, legal frameworks and resources available to international investors, entrepreneurs and professional talent.
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, also announced the ‘United Global Emirates’ initiative, inviting in talent from across the globe.
The campaign also highlighted the benefits to entrepreneurs, start-ups and investors of all sizes and stages of choosing the UAE as a launch platform.
There are more than 40 free zones in the UAE. Dubai airport free zone, established in 1996, offers the gateway to the Middle East and also unrivalled connectivity to Europe, the Indian subcontinent and the Far East, benefitting from direct access to the world’s busiest international airport.
DAFZA is currently home to more than 1,800 registered businesses from over 20 sectors.
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