Dubai Future Foundation And Richemont Invite Startups To Solve Challenges In The Luxury Retail Experience UAE-based and global startups, scaleups, and SMEs are invited to participate in the Future of Luxury Retail Technologies program.
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In a bid to solve challenges faced in the luxury retail sector, Dubai Future Foundation (DFF) has partnered with the Swiss luxury brands holding company Richemont to create the Future of Luxury Retail Technologies program.
Overseen by the Dubai Future Accelerators (DFA), an initiative of Dubai Future Foundation, the program includes two challenges and is open for entries from UAE-based and global startups, scaleups and SMEs. They have been encouraged to design innovative solutions to efficiently manage waiting time in boutiques, while improving client experience and engagement, and engage better with younger clientele.
The deadline for submissions is Sunday, 28 January 2024, and they can be made via the DFF website. Entries will be evaluated by a special committee, and finalists will be selected based on quality, practicality, their economic feasibility, and potential future impact.
Dubai Future Foundation Deputy CEO Abdulaziz AlJaziri (Source: Dubai Future Foundation)
DFF Deputy CEO Abdulaziz AlJaziri said, in a statement, "The new challenge supports the collaboration between government agencies, private companies and entrepreneurs to generate ideas aligned with the significance of the retail sector. The challenge addresses the importance of developing innovative solutions catering to customers' demands."
Pierre Fayard, CEO of Richemont MEIA, added, "We are pleased to announce the renewal of our partnership with the Dubai Future Foundation through this challenge, in line with our firm commitment to enhancing the process of innovation and supporting promising talents that enable us to shape the future. We will continue to work together to develop innovative experiences and reimagine the future of luxury retail."
Finalists, who will undergo a five-week program, will have their air travel, visas and accommodation for two people per company provided for, with access to state-of-the-art creative facilities, and benefit from advice from senior personnel at Richemont. Participants will also have the opportunity to establish connections with government entities, institutions, and investment companies in the UAE and beyond. Additionally, they will receive support in obtaining commercial licences for potential operations in Dubai.