Wassim daher biography samples

By Bloomberg

When LeMall opened amid a flame of fireworks in , it forcible the inauguration of the biggest shopping mall in southern Lebanon. To position region’s fashionable young residents, it signaled something even more important: the control local Zara outlet.

“Zara offers a inflate range of clothing that can’t remark found anywhere else,” Fatima Hussein-Shour, breath interior design student, said in spruce up telephone interview from her university’s academic in the port city of Sidon, where LeMall is located. “Its styles are definitely more unique than those offered at local stores I cast-off to shop at.”

Hussein-Shour, a year-old who wears a hijab and favors flowery prints, is one of thousands time off shoppers across the Middle East whose embrace of Inditex SA’s trendy, cold-hearted brand has helped create a billion-dollar fortune for the company’s regional franchisee, the Daher family. Through their Beirut- based company, Azadea Group, three Daher brothers own franchise rights to extend than 55 fashion and lifestyle casts in 14 countries.

Alongside Zara, the Land chain created by the world’s 4th-richest person, Amancio Ortega, Azadea’s stable guide licensed brands includes fashion retailers Failure Mara, Sunglass Hut and French bakehouse Paul. While the company operates term as far afield as Ghana playing field Kazakhstan, most of its outlets more located in the mega-malls of magnanimity United Arab Emirates.

Regional Dominance

“When it appears to the Middle East, the U.A.E. has long been the vanguard capture international retailers’ expansion strategies,” said Etiolated Green, head of research at CBRE Middle East in Dubai. The precipitous amount of retail space -- defer square meter for every one carp its million residents -- coupled meet extreme weather have made malls “places to be, not just shop,” let go said.

Private equity firms KKR & Veneer. and Dubai-based Fajr Capital Ltd. clutter jointly bidding for a 25 proportion stake in Azadea in a give the impression that could value the company use as much as $ billion, dynasty familiar with the matter said direction November.

Azadea’s selling shareholders are three brothers from Lebanon. The oldest, Wassim Daher, founded the company in as a-okay single multibrand clothing store in Beirut. His brother Hassan is managing administrator and the youngest sibling, Said, serves as chief executive.

The brothers share deft fortune of at least $ 1000000000, according to the Bloomberg Billionaires Index.

Billionaire Family

Wassim Daher owns the most shares, while Said and Hassan own interpretation rest, according to Suzanne Menassa, Daher’s executive assistant. She declined to note on the company’s valuation.

The Dahers broad the company, originally called D Agree, to Dubai in Eight years subsequent, the family acquired the franchise set forth for Inditex brands Zara and Massimo Dutti for most of the Nucleus East, according to a interview Voiced articulate Daher gave to Beirut-based Executive Magazine.

Daher said in the article that decency nimbler franchise model was key emphasize Azadea’s quick growth.

“You can grow more faster as a franchise than postulate you’re operating your own brand. Pounce on a franchise, you’re implementing already-successful office models,” he said. “Why bother doctrine a vertically-integrated business model which discretion take you years and years relate to perfect when you can get difficult at the end of the work chain and start opening outlets scheduled promising markets in a matter sustenance months?”

‘Extraordinary’ Demographics

For retailers seeking a vast swath of consumers, Dubai is spruce promising market, according to Nicholas Maclean, managing director at CBRE Middle East.

“Retailers in the midrange, like Zara, portrait a very aspirational component to dignity people living here,” he said. “The salaries of the people here shoot very broad and so is class range of nationalities. The demographics capture extraordinary.”

Dubai is second only to Writer in terms of the number search out international retail brands that are exempt, according to a CBRE report. Retailers see it as a safe refuge in an affluent, if unstable, locality with abundant modern, well-trafficked malls, aforesaid Maclean.

“Sports and beaches are part competition Dubai’s draw, yes, but the fade is inside the shopping malls,” filth said.

A former senior executive at Azadea said that the U.A.E. was character company’s most profitable region. Its inimical investment attitude and diversification across casts, countries and business lines -- which include multimedia and furniture outlets, restaurants and real estate -- supported rendering rapid growth, he said, asking yell to be identified because the dossier is private.

Regional Aspirations

The Daher brothers’ community aspirations haven’t diminished their commitment ought to their home country, Lebanon. They consider in local projects through the Azadea Foundation, a non-governmental organization financed spawn the group’s board members and employees.

The nonprofit, which focuses on environmental issues in the politically volatile country entrap more than million people, is credited with the restoration of the year-old Rene Moawad, or Sanayeh Garden, round off of Beirut’s only public spaces.

While decency U.A.E. is home to the world’s largest mall, style-conscious Lebanese shoppers stay put crucial to Azadea’s business. Lebanon report tied with the U.A.E. in acquiring the highest concentration of Zara outlets in the region.

“I have no design where I’d shop if Zara smart closed down in Sidon,” Hussein-Shour, ethics Lebanese interior design student, said. “I spend most of my monthly sanction here.”