Lebanese fashion designer to the stars, Zuhair Murad, is considering an initial public offering (IPO) for his Beirut-based multi-million dollar fashion house.
Speaking to Arabian business, the designer said he plans on taking the company public "someday". However, he expressed concerns of brand authenticity following the sale of shares.
“[I often think that] when I am older, I would want to close down my company. I wouldn’t want to continue, because I don’t think any designer can take my place. It’s not about trust. It’s just very personal,” he said.
But the fashion designer, whose creations are often worn by the likes of Jennifer Lopez, Nicole Kidman and Celine Dion, said selling the brand name to a prominent investor is also an option he is considering.
“Sometimes I say, because I worked very hard in my life, why don’t I sell my name to a good company to really take care of the brand later?... It depends. You have to be smart [when it comes to selling],” he said.
Murad also revealed a five-year growth plan which includes the expansion of the label’s ready to wear lines, the opening of new stores in Europe and the launch of offerings such as perfumes.
“We just opened our first boutique in Dubai in the Dubai Mall and are now planning to open another store in Europe and maybe London,” he said.
While the Middle East remains among the brand’s top markets, it is Europe and the US which act as Zuhair Murad’s strongest markets respectively, followed by the region.For all the latest fashion trends from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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