Posted inRetail

Former Emaar Malls CEO predicts strong rebound for Dubai Mall

Patrick Bousquet-Chavanne, who was recently appointed president and CEO of eShopWorld (ESW) Americas, was at the helm of Emaar Malls for a year before departing in 2019

Dubai Mall (pictured) and Mall of the Emirates have their own apps that allow visitors to view movie timings, store details, and restaurant menus; book activities; and take part in the events each mall organises.

Dubai Mall (pictured) and Mall of the Emirates have their own apps that allow visitors to view movie timings, store details, and restaurant menus; book activities; and take part in the events each mall organises.

Dubai Mall will rebound strongly from the crippling impact of the coronavirus pandemic, according to Patrick Bousquet-Chavanne, who was previously in charge of the emirate’s giant retail and entertainment hub.

At this time last year the hundreds of shops had shuttered, escalators had stopped and the buzz of activity had disappeared into the sound of silence as the government’s Covid-19 restrictions saw shopping malls close their doors.

And although they reopened to the public in April, with strict limitations on capacity and working hours, before resuming normal hours in June, under continued stringent health and safety guidelines, the mall saw visitor numbers crash from 16.73 million in 2019, to 5.51 million for 2020, while overall profits for Emaar Malls tumbled from $1.272 billion in 2019 to $955 million last year.

Indeed, Covid-19 – which has infected over 470,000 people in the UAE – turned Dubai’s famous malls from a shopper’s paradise into retailer’s nightmare.

However, former CEO of Emaar Malls, Bousquet-Chavanne, who was recently appointed president and CEO of eShopWorld (ESW) Americas, told Arabian Business he was confident Dubai Mall would see a swift recovery.

Bousquet-Chavanne was at the helm of Emaar Malls for a year before departing in 2019.

He said: “Dubai Mall is best in class. It is a rare asset. It’s provided for millions of visitors and has been a magnet for Dubai. People come from all over the region to visit Dubai Mall and spend time there. I think it is an exceptional asset.

“Obviously during the pandemic times, with lower traffic, like most malls, even the leading malls in the world have suffered. But I think the quality of the brands that it has under one roof. The services it provides which are exceptional as a mall, and the experience overall I think it will obviously rebound and I’m confident.

“I think it’s one of those retail beacons and I think the company is dedicated to investing in Dubai Mall. It is an asset that will see continuing transformation, evolution.”

Patrick Bousquet-Chavanne, former CEO of Emaar Malls.

Bousquet-Chavanne also previously worked as executive director, customer, marketing and M&S.com, for Marks & Spencer.

However, even a man steeped in the digital transformation admitted he has been taken aback by the surge in its popularity, accelerated by the huge increase in ecommerce as a result of the pandemic – the booming regional online shopping market is expected to grow by more than a third to reach a gross value of $30 billion this year, according to a report from Wamda and the Massachusetts Institute of Technology.

He said: “I think the Middle East has been catching up very fast and it’s been visible as well during the last year. I think you have very smart enterprises in the Middle East, you have very solid, knowledgeable retailers and you have entities, like my former company Emaar, that are pushing the boundaries of innovation in their areas of expertise.

“When I was running Dubai Mall we were already trying to accelerate the digitalisation. The mall no longer has to remain a physical entity, if it’s to become a digital ecosystem, that’s what the mall of the future will be all about.”

Dubai is synonymous with shopping malls and they are as much a feature of the emirate as iconic structures such as the Burj Khalifa and Burj Al Arab.

Bousquet-Chavanne, who officially opened Fashion Avenue in Dubai Mall during his tenure with Emaar, insisted that, to adapt effectively to the changing world, mall owners will need to continue investing in digital platforms to make things simple for shoppers – Dubai Mall and Mall of the Emirates have their own apps that allow visitors to view movie timings, store details, and restaurant menus; book activities; and take part in the events each mall organises.

Dubai is synonymous with shopping malls and they are as much a feature of the emirate as iconic structures such as the Burj Khalifa and Burj Al Arab (pictured).

He said: “There’s no turning back. I think the main task today if you own physical retail is to make sure that you get connected and that you work at differentiating the experience that you’re providing in the mall in your store. That’s what’s really critical so that you can keep your customers engaged and there is a raison d’etre when they come to the mall, because it’s so social and we’re all social creatures.”

One of the cornerstones of shopping malls in the region, in general, is the ‘value-add’ for visitors, who can choose to go shopping in the myriad of stores, dine at the many restaurants, visit the cinema, bowling, ice-skating, even spending time on the slopes skiing.

And Bousquet-Chavanne admitted that was the future in the high-wire balancing act between bricks-and-mortar retail and ecommerce.

He said: “I think the idea of someone saying, ‘I’m going shopping now’, I think that’s an antiquated view. I think that people want to spend a great day with friends or with family members and want to basically enjoy entertainment and great food and discover what’s new around the mall and go and visit some of their favourite brands.

“It’s a much more enjoyable day that you’re experiencing. Shopping is part of it, but shopping is not the primary driver any longer.”

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