Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai and the UAE’s Deputy Prime Minister and Minister of Finance, met in Dubai with Nicolas Bos, the Group Chief Executive Officer of Richemont, the Switzerland-based luxury goods group.
Dubai and Richemont Discuss Expansion of Luxury Sector Ties
The meeting focused on Dubai’s strategy of strengthening partnerships with global companies operating in high-value sectors. Officials highlighted the emirate’s business environment, infrastructure and international connectivity as factors supporting its role as a regional base for multinational luxury groups.
Both sides discussed opportunities to deepen cooperation as Dubai’s luxury market continues to expand and as the city positions itself as a hub for investment and innovation. The luxury goods sector is among the industries contributing to the Dubai Economic Agenda D33, which aims to place Dubai among the world’s top three urban economies and double foreign trade to AED25.6 trillion by 2033.
The meeting was attended by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs; Helal Almarri, Director General of the Dubai Department of Economy and Tourism; Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD Group; and Mohammed Al Zarooni, Executive Chairman of the Dubai Integrated Economic Zones Authority.
Founded in 1988, Richemont owns a portfolio of luxury brands across jewellery, watches, fashion and accessories, including Cartier, Van Cleef & Arpels, Piaget, Jaeger-LeCoultre, IWC Schaffhausen, Montblanc, Chloé and Dunhill. The group operates more than 2,400 monobrand boutiques worldwide and employs over 40,000 people across more than 150 locations. For the year ended March 31, 2025, Richemont reported group sales of €21.4 billion. Its Middle East, India and Africa headquarters are located in the Dubai Airport Free Zone.
Photo credits: Government of Dubai Media Office
Oksana Bozhko is a Contributor to Dubai Voice.
Oksana Bozhko
Vladyslava Garkusha
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