DFF and Richemont's Call to Innovators: Transforming Luxury Retail with Tech Excellence
Dubai Future Foundation collaborated with Swiss luxury brands holding company Richemont to address challenges in the luxury retail experience. The "Future of Luxury Retail Technologies" program, comprising two distinct challenges, has been extended to start-ups, scale-ups, and SMEs globally, as well as those based in the UAE.
The challenges presented in this program involve devising innovative solutions to enhance the efficiency of managing waiting times in boutiques while simultaneously elevating client experience and engagement. Additionally, participants are tasked with creating inventive solutions to attract a younger clientele through unique and engaging experiences.
Overseen by the Dubai Future Accelerators, an initiative of DFF, the program seeks to facilitate collaborations between start-ups, private entities, and government. The submission deadline for proposals is set for Sunday, January 28, 2024, and interested parties can apply through the DFF website.
The selected finalists will embark on a five-week program, with DFF covering air travel, visas, and accommodation for two representatives from each company. During this program, participants will gain access to creative facilities, engage with regional investors, receive advice from senior personnel at Richemont, and be guided in establishing a company outpost in Dubai.
Abdulaziz AlJaziri, Deputy CEO of DFF, emphasised the significance of the collaboration, stating, "The challenge addresses the importance of developing innovative solutions catering to customers’ demands."
Pierre Fayard, CEO of Richemont MEIA, expressed enthusiasm about the partnership's renewal, stating, "We will continue to work together to develop innovative experiences and reimagine the future of luxury retail."
The evaluation process for entries will be conducted by a specialised committee, considering criteria such as quality, practicality, economic feasibility, and potential future impact. Finalists will then be invited to partake in the intensive five-week program in Dubai.
Participants in the challenge can anticipate valuable connections with government entities, institutions, and investment firms in the UAE and beyond. Additionally, support will be provided for obtaining commercial licenses for those looking to operate in Dubai, solidifying the commitment for innovation and shaping the future of the luxury retail sector.
