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Amouage: Exploring the scent of success with CEO Marco Parsiegla

Marco Parsiegla, CEO of the House of Amouage, shares how the Omani fragrance brand is redefining luxury perfumery while staying grounded in its heritage

Neesha Salian
Neesha Salian

27 January, 2025

Amouage: Exploring the scent of success with CEO Marco Parsiegla
Images: House of Amouage

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In the world of luxury fragrance, few brands carry the mystique and allure that Amouage does. Hailing from Oman, in the heart of the Arabian Peninsula, the House of Amouage is renowned for its exquisite craftsmanship, unique ingredients, and a deep cultural heritage that spans centuries.

With fragrances that are as much about storytelling as they are about scent, Amouage offers a sensory journey that transcends borders and connects people from all corners of the globe.

In this interview with the CEO of the brand, Marco Parsiegla, we dive deep into the essence of the fragrance house its commitment to blending tradition with modern tastes, and how the company is navigating the evolving landscape of luxury, e-commerce, and global markets.

Marco Parsiegla

Amouage’s connection to Oman is both culturally rich and essential to its identity. How does the country’s history and landscape influence the house?

There’s a very strong connection, not just to the location, but to the essence of Amouage itself. Oman’s rich heritage, storied history, and stunning landscapes are a constant source of inspiration for us. But it’s not about translating this literally; it’s more about interpreting it in a timeless, modern way. This allows us to connect not only with our regional customers but with international audiences as well. One of the key elements that sets Amouage apart is the use of frankincense from the Dhofar region of Oman and other exceptional natural ingredients like rock roses from the Hajjar Mountains. These are treasures we bottled up in our products, encapsulating the country’s soul.

These fragrances also contain a sense of generosity and hospitality, which you can feel when you experience them. Our cultural roots and craftsmanship come together to create something truly unique. We’re proud to produce everything in Oman, which gives us a distinct position in the global luxury market.

Amouage has stayed true to traditional perfumery methods while embracing modern techniques. How do you find the balance between these two elements?

I think there’s a beautiful tension between tradition and modernity. We’re deeply embedded in a culture where perfumery has been a pivotal part of family life and social gatherings for centuries. Our heritage is steeped in this tradition. But at the same time, technology and modern methods offer incredible opportunities to enhance our creations.

Take our ‘Attar’ collections as an example. These are pure oils, inspired by the age-old practice of applying fragrance without dilution. While this tradition is timeless, we’ve worked with experts and fragrance houses to ensure that these creations are compliant with modern regulations, making them relevant and safe for today’s world.

We’re also reintroducing a forgotten art with our ‘Essences’ collection, which involves double infusions — a technique that had been left behind by the industry. By bringing these practices back into the modern world, we’re educating our customers while keeping the essence of traditional perfumery alive. This approach is helping us bridge generations of perfume lovers and also appeal to a new audience.

The global market has faced significant geopolitical tensions and economic shifts. How has Amouage managed to navigate these challenges, especially with a more niche clientele?

The world is certainly going through a difficult time, and I don’t want to pretend that these challenges haven’t impacted some sectors of the luxury market. But at Amouage, we’ve managed to stay resilient. There’s a deep appreciation for craftsmanship and authenticity in our products, which has resonated with consumers more than ever before. In times of uncertainty, people seek out something real, something that tells a genuine story.

We produce everything in-house, and our commitment to using only the finest ingredients is not just a marketing story — it’s something you can experience firsthand when you visit our facilities. For example, we’re working closely with UNESCO to protect the frankincense trees in southern Oman. This kind of commitment to heritage and sustainability sets us apart and strengthens the bond with our clientele.

Despite the challenges in the world, Amouage is having one of its best years yet. Our global footprint is expanding, with growth across key markets such as the US, China, South Korea, and Europe. We’re seeing strong demand not only in traditional markets but in newer ones too, like Saudi Arabia, where luxury beauty is booming.

With the rise of digital commerce, how has Amouage adapted to this shift, especially with a niche luxury product?

E-commerce has been a major success for us. It’s challenging to translate the multisensory experience of a fragrance online, but we’ve focused on making the user experience as seamless and engaging as possible. From enhancing our digital platform to offering an immersive storytelling experience, we’re making sure that the essence of Amouage comes through, even through a screen.

Our online growth has been impressive — our own platform has seen more than 50 per cent growth this year alone. We’ve invested heavily in improving our digital experience, and it’s paying off. A lot of our success is due to our commitment to showcasing the craftsmanship and heritage behind our fragrances, which resonates with our customers.

We’ve also realised the importance of catering to younger generations, particularly Gen Z and Gen Alpha. With them, it’s not just about shopping; it’s about creating an entire experience. We’ve integrated AI and other modern technologies to make this experience more personalised and meaningful.

How is Amouage performing in the travel retail sector, especially given the current state of global travel?

Travel retail is another area where we’ve seen impressive growth. It’s an interesting space because travellers tend to be more open-minded and culturally fluent. They appreciate the craftsmanship and authenticity behind our products. Amouage has strong partnerships with global retailers like Dubai Duty Free, and our success in this channel is on par with what we’re seeing in e-commerce.

We’ve been expanding our footprint in Asia and the US where we see a huge growth potential. Travel retail provides us with an opportunity to connect with customers uniquely, and the feedback we’ve received has been overwhelmingly positive.

What can you tell us about the varying preferences of Amouage customers around the world? Are there certain collections that perform better in specific regions?

It’s interesting because, despite regional differences, our fragrances have a universal appeal. Our recent creation, Guidance, for example, has become our best-seller globally, resonating with a younger audience due to its longevity and subtle potency. But we do see some regional preferences. For instance, our Reflection fragrance is very popular in the US and Europe, while Epic Woman does exceptionally well in Asia-Pacific.

What’s particularly rewarding is seeing our customers build a fragrance wardrobe. More than 60 per cent of our clients have purchased multiple creations from our portfolio, which shows they’re not just buying a fragrance — they’re becoming part of the Amouage family. It’s about expressing your personality through our different collections, and that’s something we’re proud of.

Do you think that a major part of the fan base Amouage has built over the years is generational? Also, what makes your fragrances so loved?

Fragrance has a unique ability to trigger memories and emotions, and yes, many of our customers do seem to have a generational connection to the brand. If you look at a fragrance like Interlude, for example — it’s been our number one male fragrance for many years and has a certain depth and complexity that appeals more to connoisseurs, often those with a bit more life experience. This creates a kind of bond that can be passed down, whether it’s a father passing it to his son or a cherished family scent that stays within a household. So, in that sense, there’s an element of generational continuity.
That being said, what’s fascinating is the way that high perfumery, in general, attracts people of all ages. Amouage, specifically, has seen younger audiences fall in love with our fragrances, even those that are traditionally associated with more mature tastes. And that’s something that speaks to the evolving nature of fragrance preferences. When you’re in the world of fine fragrance, people tend to be less restricted by age — it’s all about personal taste, and if a scent resonates with you, it doesn’t matter whether you’re in your twenties or your fifties.

The olfactive base you come from, your exposure to scents, and how they connect to your memories or emotional state — these factors are more significant than age. And I think that’s a key element of how fragrance as a medium works. It’s all about the story, the journey, and what those scents represent.

Fragrances can hold the power to change your mood, and even transform your day. When I do keynote speeches, I often ask the audience to close their eyes and think about the first fragrance they ever bought or wore. More than 80 per cent of the people will immediately recall a memory tied to that scent. It’s a beautiful part of our work, being able to create those moments, and it’s something we truly treasure.

You mentioned how important it is to create remarkable client journeys through your retail experiences. How is Amouage adjusting to an increasingly digital and experiential retail world?

We are shifting our focus to create a more experiential retail journey both in-store and online. We want to educate our clients, make them feel emotionally connected to what we do, and not just sell them a product.

Our stores are designed to provide an immersive experience where customers not only smell fragrances but engage with the brand on a deeper level. We’re also working with advanced technologies to bring elements of this immersion to our e-commerce platform, providing scent stories, behind-the-scenes glimpses into our creation process, and even virtual consultations with fragrance experts. It’s all about blending tradition with innovation and creating a personalised journey for each client.

At Amouage, we’ve always believed that retail isn’t just about making a transaction; it’s about telling a story. Our stores aim to create an immersive experience that feels personal and deeply connected to the cultural heritage of Oman.

For example, in our Shanghai store, we’ve incorporated a unique design inspired by Oman’s rich maritime history and its historic trade routes with China. When you step into the store, it feels like you’re underwater, walking beneath a dhow — a traditional Omani boat. This kind of immersive design isn’t just about aesthetics; it’s about making our customers feel that connection to our heritage in a tangible, sensory way.

Similarly, in our SoHo store in New York, the design concept draws inspiration from the red sands of Oman, connecting the space with the essence of our homeland in a subtle yet evocative manner. These experiences allow customers to not only engage with the product but to engage with the story, with the land, and the culture behind it.

Tell us about your presence at Retail Summit Saudi Arabia 2025.

I’m truly excited about the summit. It’s a fantastic opportunity for industry experts to come together and discuss the future of retail and the client experience.

At the summit, I’m speaking on a panel about how to create unforgettable client journeys through retail. It’s not just about having beautiful products, but about ensuring the space, the interaction, and the atmosphere all work together to make a memorable experience.

We are also looking forward to discussing the challenges we face as a niche brand in the luxury space and how we can overcome them to create lasting, emotional connections with our clients.

Saudi Arabia is a rapidly growing market for luxury, and you mentioned how you see it playing a key role in Amouage’s future. Tell us more about it.

Saudi Arabia is key to our strategy moving forward. The market is evolving incredibly quickly, both in terms of its economy and its cultural shifts. With the country diversifying its economy from oil to other sectors, the luxury market is seeing tremendous growth, and the beauty and grooming sector is also booming— especially among younger consumers. This is a market with a youthful population that has a keen interest in personal grooming, and that’s an exciting space for us as a luxury fragrance house.

We’re seeing massive investment in retail infrastructure, with new luxury shopping centres and malls opening, so the retail environment is more dynamic than ever. Saudi Arabia is projected to be a $2.6bn market for luxury by early 2030, which is a 50 per cent increase from where it is today. The country’s 2030 Vision — focused on modernisation, infrastructure, and cultural development — also plays a significant role in shaping the future of luxury in the region.

We believe that Saudi Arabia will be a critical market for luxury retail in the coming years. We’re committed to expanding our presence there and are planning to open new mono-brand stores in 2025. We’re especially excited about the opportunity to be part of the cultural and economic transformation taking place.

In terms of Amouage’s market strategy, can you share more about the UAE and its relevance to your operations?

The UAE is one of our strongest markets, and we’ve been really pleased with how it has been performing. While we’re focused on expanding into new regions like Saudi Arabia, the UAE remains a cornerstone of our business. It’s a market where we have a very holistic presence, from mono-brand stores to key retail partnerships to a strong e-commerce presence. We work closely with major retailers and have great relationships with Dubai Duty Free, a critical partner for us in travel retail.

What stands out in the UAE is the strong connection between online and offline retail. We have seen tremendous success with our online platform, which complements our physical retail locations. Dubai itself remains a hub for luxury, and we see an interesting dynamic with different customer profiles, from residents to international tourists.

Our commercial hub in Dubai also plays a key role in managing our global expansion. We handle a lot of the operational and back-office functions for our global business from here, and it’s been a strategic location for overseeing our growth and building relationships with key retail partners.

What trends do you see emerging in the fragrance world?

There are a few trends that we’re definitely keeping an eye on. One of the biggest is the growing demand for personalised fragrances. As consumers become more aware of the power of scent to amplify their personality, they are looking for fragrances that are unique to them. I think customisation will be a major theme, both in terms of scent and the overall fragrance experience.

Another trend we’re seeing is the desire for clean, sustainable fragrances. Consumers are increasingly concerned about the ingredients used in their products and are becoming more discerning about transparency and sustainability. That’s something we’re mindful of at Amouage — our commitment to using only the finest natural ingredients, like Omani frankincense and ensuring that our practices are as sustainable as possible.

As always, Oriental fragrances will continue to have a strong presence in the market. However, we’re also noticing a shift toward more floral and woody notes, especially among younger consumers. It’s an exciting time for fragrance as the boundaries continue to evolve, and we’re thrilled to be part of that ongoing conversation.

You’ve touched on sustainability and responsibility. How do these trends play into Amouage’s broader brand philosophy?

Sustainability for us isn’t just about environmental responsibility; it’s deeply embedded in our cultural heritage. Oman, with its limited natural resources, has always embraced sustainability out of necessity. We’re honouring that legacy by working in ways that are both resource-efficient and beneficial to the land and communities.

For example, at the UNESCO World Heritage site where we’re producing our frankincense, we’ve taken a proactive approach by building a distillery in the desert, which not only fosters local employment but also incorporates cutting-edge technology for sustainability. Our commitment extends beyond just the environment — it’s about social responsibility too. We’re employing Omanis, working with the local community, and ensuring that our practices benefit everyone involved.

This sense of responsible luxury is something that we’re seeing more of in the broader market, and it’s something we’re committed to continuing at Amouage.

How do you see technology shaping the future of luxury fragrances, especially when it comes to consumer experience?

Technology is becoming an increasingly important part of the luxury fragrance experience. On one hand, it enhances personalisation. Technology allows us to offer tailored fragrance experiences, making it easier for people to connect with scents that match their personality and lifestyle. But beyond personalisation, technology also enables traceability. Our customers will soon be able to trace the journey of their fragrance from the frankincense tree to the bottle in their hands, knowing who grew the tree, when it was harvested, and how it was processed.

This kind of transparency is only possible because of advancements in technology. It allows us to create a stronger connection between the consumer and the product — making the experience not just about the fragrance itself, but also about the story behind it. Technology also helps us continue innovating while staying true to our craftsmanship. For us, it’s all about blending the tradition of perfumery with the possibilities that technology provides.

As you prepare for Amouage’s growth in 2025, what do you think will be the most exciting aspects of your journey ahead?

We’re entering a truly exciting phase. Amouage is expanding into key markets like Saudi Arabia, where we see massive potential for growth in the luxury fragrance sector. Our ongoing commitment to both craftsmanship and innovation will be central to this growth. As we bring the best of both worlds together, we’ll be able to create even more memorable experiences for our customers.

We’re also focused on developing new ways to connect with the next generation of fragrance enthusiasts. The younger consumer, particularly Gen Z, is starting to appreciate the finer details of fragrance in ways we haven’t seen before. They want to learn more, connect with brands on a deeper level, and share their experiences. It’s a new, dynamic audience, and we’re excited to engage with them as we move into 2025.

In the end, it’s about combining tradition and innovation, luxury and sustainability, authenticity and technology. This will be the key to Amouage’s success as we continue to evolve and offer a fragrance experience that transcends time, place, and tradition.

Read: How Givaudan is crafting unique sensory experiences for regional consumers

Hand in Hand: UAE President names 2025 as the ‘Year of Community’

The announcement reflects the UAE’s commitment to building a united and resilient society, one that values collaboration, inclusivity and innovation as cornerstones of national progress

Neesha Salian
Neesha Salian

27 January, 2025

Hand in Hand: UAE President names 2025 as the ‘Year of Community’
Image: WAM

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UAE President Sheikh Mohamed bin Zayed Al Nahyan has declared 2025 as the ‘Year of Community’, a national initiative aimed at fostering unity and empowerment across the UAE.

The initiative, launched under the slogan Hand in Hand, aligns with the leadership’s vision of strengthening community bonds and encouraging collaborative progress among all residents of the UAE.

The Year of Community will focus on fortifying family and community ties through preserving the country’s cultural heritage, nurturing intergenerational connections, and creating inclusive spaces for shared experiences.

Year of Community aimed at cultivating shared responsibility

The initiative also emphasises the importance of community service, volunteering, and impactful societal contributions as a means to cultivate a culture of shared responsibility.

The UAE leadership aims to unlock the full potential of individuals, families, and organisations by fostering skills development, nurturing talents, and promoting innovation, particularly in emerging sectors such as entrepreneurship and artificial intelligence.

This comprehensive approach is designed to support inclusive growth and ensure long-lasting positive impacts across the nation.

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The initiative will be overseen by Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court, alongside Sheikha Mariam bint Mohamed bin Zayed Al Nahyan, Deputy Chairperson of the Presidential Court for National Projects.

Together, they will guide the implementation of numerous events and initiatives throughout the year to strengthen community cohesion and uphold Emirati values.

In a statement, the UAE leadership extended an invitation to all citizens and residents to contribute their ideas and proposals aimed at enhancing social bonds and promoting community progress.

The Year of Community will also celebrate the cultural diversity that defines the UAE and emphasize the shared responsibility of building a strong and flourishing nation.

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Throughout the year, various programmes and activities will be launched to ensure a thriving environment where everyone — regardless of background — can participate in the ongoing development of the country.

Showing solidarity

The announcement also received support from the private sector. Mariam Al-Foudery, group chief sustainability and marketing officer, Agility Global, said: “At Agility, we fully align with the UAE’s ‘Year of Community’ theme – we have always believed in harnessing the power of our communities and have reached more than two million people through our community investments over the last two decades.

“Our strategy is to invest for the long term. In the UAE and across the GCC, our focus is on human capital development through digital skills and entrepreneurship programmes. We ensure that women and men participate equally in the programmes we fund, and work with charity partners that understand the local landscape and share our vision for sustainable, inclusive growth.”

Dr Funke Baffour Awuah, corporate head of Wellbeing, GEMS Education, also shared her thoughts on the announcement. “The declaration of 2025 as the Year of Community by Sheikh Mohamed Bin Zayed Al Nahyan is a visionary initiative that underscores the importance of unity and shared responsibility in shaping a brighter future.

“At GEMS Education, we believe that the strength of a community starts with the connections we foster between families, schools, and society. Through our GEMS Family First initiative, we focus on empowering families to actively participate in their children’s educational journey. By providing workshops, resources, and opportunities for collaboration, we create stronger links between home and school, building a culture of belonging and mutual care.”

Dr Awuah added: “The Year of Community is a chance for us all to strengthen these connections, and we are proud to contribute to this national priority. By empowering families and promoting wellbeing, we are helping to build united, thriving communities that reflect the values of the UAE and create opportunities for future generations.”

Meta to invest up to $65bn in AI Infrastructure, CEO Mark Zuckerberg reveals

By 2025, Meta expects its AI systems to serve more than a billion people globally

Neesha Salian
Neesha Salian

27 January, 2025

Meta to invest up to $65bn in AI Infrastructure, CEO Mark Zuckerberg reveals
Image: Getty Images

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CEO Mark Zuckerberg announced that Meta Platforms (META.O) plans to invest as much as $65bn in 2025 to expand its artificial intelligence (AI) infrastructure.

This substantial investment aims to bolster Meta’s AI capabilities and strengthen its competitive position against rivals such as OpenAI and Google in the rapidly evolving AI market.

In a Facebook post, Zuckerberg called 2025 “a defining year for AI”, stating that its AI initiatives would drive its core products and business in the coming years.

“This is a massive effort,” Zuckerberg said, emphasising that the expansion would unlock historic innovation and play a key role in maintaining US leadership in technology.

Meta plans to significantly ramp up hiring in AI roles as part of its broader investment strategy. The company will also build a massive 2-gigawatt data centre, which would be large enough to cover a significant portion of Manhattan.

This data centre will support the vast computational needs of the company’s AI projects, including running models like Llama 4, which Zuckerberg expects to become a leading state-of-the-art AI model.

Meta plans to ramp up computing power

The company also aims to bring online approximately 1 gigawatt of computing power in 2025 and end the year with over 1.3 million graphics processing units (GPUs), a key component for powering AI workloads.

Meta has been one of the largest buyers of GPUs from Nvidia (NVDA.O), whose chips are critical for running advanced AI models.

Zuckerberg’s post further highlighted the company’s ambitious roadmap for AI. By 2025, Meta expects its AI systems to serve more than a billion people globally. Additionally, the company plans to develop an AI engineer capable of contributing significant amounts of code to its research and development efforts.

“This will be a defining year for AI,” Zuckerberg wrote, underscoring the broader importance of AI in shaping the company’s future. “We have the capital to continue investing in the years ahead.”

The company’s investment comes just days after US President Donald Trump announced a joint venture called Stargate between OpenAI, SoftBank (9984.T), and Oracle (ORCL.N), which plans to invest $500bn in AI infrastructure across the US.

Meta’s $60-$65bn investment aligns with the broader trend of major tech companies pouring resources into AI, a sector that has gained immense traction following the success of OpenAI’s ChatGPT.

Zuckerberg ended his post with a rallying call: “Let’s go build.”

Emirates Airline Festival of Literature 2025 returns with star-studded lineup

For over seventeen years, the festival, renowned as the region’s premier literary event, has welcomed a diverse array of international and regional writers, poets, thinkers, and speakers

Gulf Business
Gulf Business

25 January, 2025

Emirates Airline Festival of Literature 2025 returns with star-studded lineup

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The Emirates Airline Festival of Literature, beloved by fans across the UAE, will return for its 17th edition from January 29th to February 3rd, 2025, at the InterContinental Dubai Festival City.

The Emirates LitFest promises an eclectic mix of authors, stimulating discussions, and interactive workshops, all dedicated to celebrating the transformative power of storytelling. It will offer attendees over 150 incomparable experiences, including fan-favourites: Desert Stanzas, LitFest After Hours, Discovery Talks, and the LitFest Families programme.

Featured authors

The festival’s lineup featured an eclectic mix of renowned and emerging authors, including Abraham Verghese, author of the acclaimed novels The Covenant of Water and The Tennis Partner, Chigozie Obioma, the author of The Road to the Country, whose compelling narratives on identity and feminism have garnered international acclaim and Pip Williams, the author of the global bestseller The Diary of Lost Words.

Don’t miss acclaimed author Verghese as he is set to discuss his latest page-turner, The Covenant of Water, a captivating saga of three generations of a Malayali family in southwest India. The New York Times bestseller held its spot for an impressive 37 weeks. Catch Verghese twice during the festival: on January 31st for a captivating session on his novel and on February 2nd in a fascinating discussion with author and researcher Williams.

Similarly, acclaimed journalist and former CNN anchor Hala Gorani will grace the stage to discuss her book, which explores the complexities of identity, race and belonging. It follows her own experiences as a journalist of Arab descent living and working in the West. Gorani’s session is scheduled for February 2, and she will also join a lively panel discussion on media and the Middle East on the same day.

Literary icons such as Jeff Kinney, the creator of the wildly popular Diary of a Wimpy Kid series, and Daniel Handler (also known as Lemony Snicket), the mastermind behind A Series of Unfortunate Events, will join the impressive lineup. The festival will also welcome Nobel Prize laureate Abdulrazak Gurnah and distinguished Egyptian writer and novelist Mohammad Al Mansi Qindeel, promising a truly unforgettable experience for literary enthusiasts.

Engaging conversations & panels

The Emirates LitFest will be punctuated by a series of thought-provoking panels and discussions. Ignite your literary spirit at the awe-inspiring Desert Stanzas, the signature event that kicks off the festival. Immerse yourself in a magical night under the stars at Caravanserai, mingling with renowned international and local authors and poets as you celebrate the power of the written word. Tickets are priced at Dhs425 and can be purchased here.

For a dose of inspiration, join the Business Breakfast: Women in Leadership. Hear from esteemed guests Jessamy Hibberd (author of The Imposter Cure), Maha Abouelenein (author of 7 Rules of Self-Reliance), and Su Bridgman JD (founder of The CQ Edge) as they share their insights on the challenges and opportunities facing women leaders. The insightful session will provide valuable perspectives and a glimpse into the future of female leadership. The breakfast session takes place on January 31st.

A platform for cultural exchange

The Emirates Literature Festival 2025 is more than just a celebration of literature; it was a vibrant platform for cultural exchange.

Emirates LitFest stage: On the LitFest stage, Emirati and international authors will come together to celebrate the UAE’s cultures. The festival features a diverse range of experiences and a distinguished lineup of Emirati writers, including poet Adel Khozam, Dr Noura Alkarbi, artist Asmaa Al Remeithi, poet Ali Al Shaali, author and scholar Saleha Ghabish, author and trainer Hamdan Bin Shfayan Alameri, author Nadia Al Najjar and filmmaker Nahla Al Fahad.

Dubai-based author Graeme Wilson will give insights into his book To Be the First, an authorised biography of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President of the UAE and Ruler of Dubai.

Fashion illustrator Megan Hess takes the stage. Hess will discuss her book Fashion in Colour, which explores the influence of colour in fashion history. She has not only penned 22 books but is also behind the wonderful and eye-catching illustrations on the pages. On the other hand, author, broadcaster, and cultural critic Emma Dabiri will help you rediscover ‘beauty’ on your terms.

Future writers: The festival offers workshops for writers of all levels, from a two-day bootcamp with ex-publisher, author, and writing instructor Harriet Griffey to a character development workshop with bestselling writer Mateo Askaripour.

Read: Legendary comedian John Cleese returns to Dubai Opera on January 25

UAE firms turn to Oracle NetSuite to drive business expansion

NetSuite offers out-of-the-box processes built on best practices from their experience with 41,000 customers

Nida Sohail
Nida Sohail

24 January, 2025

UAE firms turn to Oracle NetSuite to drive business expansion
Image credit: Supplied

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Oracle NetSuite is playing a crucial role in helping UAE businesses streamline operations, cut costs, and scale faster. The platform’s integrated solutions are enabling companies across industries to gain a competitive edge.

What does NetSuite offer

“Depending on the industry, NetSuite offers out-of-the-box processes built on best practices from our experience with 41,000 customers,” said Nicky Tozer, senior vice president, EMEA, Oracle NetSuite. She added, “We have local teams across all regions, providing support for both account management and solution identification. These solutions can also be regionally tailored.”

Read: Oracle boosts UAE cloud capacity fivefold as GCC embraces AI

How does eZhire benefit from NetSuite

One company reaping the benefits is eZhire, a B2C car rental service operating in the UAE, Qatar, Bahrain, and Saudi Arabia. The firm uses NetSuite to integrate its financial processes, consolidate operations, and improve decision-making.

Pearl of AI excellence: Minister wants UAE to be a world leader

“Previously, we relied on different software platforms for each country, leading to inefficiencies and a lack of integration,” said Hassan J. Saduzai, CEO and co-founder of eZhire. “Now, with a unified system, we can view financials and performance by country or at a group level. This integration has made managing operations much more efficient”.

Key advantages for eZhire include access to granular data, real-time dashboards, and instant insights into cash flow and financial health. With these tools, the company has enhanced profitability and streamlined its operations.

Today, eZhire boasts over 650,000 users and has recorded more than four million total rental days.

Derayah Financial plans to sell 20% stake in Riyadh IPO

The brokerage is offering 49.94 million shares, representing 20 per cent of the company’s total issued share capital

Kudakwashe Muzoriwa
Kudakwashe Muzoriwa

24 January, 2025

Derayah Financial plans to sell 20% stake in Riyadh IPO
Image credit: FAYEZ NURELDINE/ Getty Images

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Derayah Financial plans to sell a 20 per cent stake through an initial public offering (IPO) on the Saudi Exchange (Tadawul) in what is set to be the kingdom’s first listing in 2025.

The brokerage is offering 49.94 million shares, according to a regulatory filing, representing 20 per cent of the company’s total issued share capital.

The final offer price will be determined at the end of the book-building process, with the final allocation scheduled for February 27.

The company appointed HSBC’s local unit as the sole financial advisor, bookrunner, global coordinator, lead manager, and underwriter for the deal.

“With the launch of our IPO, Derayah is embarking on an exciting new chapter that will further solidify its position as a leading independent digital investment platform in Saudi Arabia. In recent years, we have achieved exponential growth by capitalising on favourable local, regional, and global capital markets,” said Mohammed Al Shammasi, the CEO of Derayah.

The proceeds from the share sale will be distributed to the selling shareholders.

Founded in 2009, Derayah offers brokerage and trading services, which account for over 60 per cent of its total revenue, as well as asset and wealth management, with $4.03bn (SAR15.1bn) in assets under management as of the end of June.

The company reported a net profit of SAR228m in the first half of 2024, up 70 per cent from the same period last year, while its operating income rose by 63 per cent year-on-year to SAR434m.

Tadawul is the GCC region’s largest bourse, with an average traded value of more than $1bn. Last year, Saudi Arabia dominated the Middle East’s robust surge in new share sales, generating a record $4.1bn from 42 listings, according to a report by The Kuwait Financial Centre (Markaz).

With the kingdom continuing its push to diversify its economies and deepen its capital markets, market participants expect the rush of listings to continue.

Saudi Arabia is likely to see a string of listings, potentially including budget carrier flynas, buy-now-pay-later firm Tabby, tech firm Ejada, and the investment banking arm of Riyad Bank.

Read: Etihad gauges investor interest as Gulf carriers race towards IPOs

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