Khalid Al Tayer, Managing Director of Al Tayer Insignia and CEO of the luxury e-commerce platform Ounass, leads one of the Middle East’s most powerful retail networks. In his first public interview at Oud Fashion Talks, Al Tayer shares insights into the rapid evolution of the Middle Eastern luxury market, the region's growing influence on global trends, and how his business approaches e-commerce with a customer-first mindset. He also discusses the strategic importance of respecting and investing in the Middle Eastern customer while creating opportunities for regional talent to flourish in the luxury landscape.“The brands that have taken [the Middle Eastern] customer as a very important customer and respect them are seeing benefit. The ones that approach this customer as, ‘They’re just going to buy what we make, and we’re going to do … a good enough job because we’re busy somewhere else,’ are not benefiting. Respect the Middle Eastern customer,” shares Al Tayer.This week on The BoF Podcast, BoF founder and editor-in-chief Imran Amed sits down with Al Tayer to discuss the growing influence of the Middle Eastern luxury market and how businesses can succeed by prioritising the evolving needs of the regional customer.Key Insights: Despite challenges in global luxury, Al Tayer points to the Middle East as a resilient outlier in the industry, especially post-Covid. Brand investment in top-tier store experiences, thoughtful activations, and tailored assortments have fostered a deeper connection with the local customer. “The Middle East … has been a shining candle in the industry generally because of the resilience and the growing sophistication of the Middle Eastern customer,” Al Tayer notes, attributing this shift to brands recognising the importance of this loyal market.Al Tayer forecasts that e-commerce will soon make up half of all luxury retail in the region, with Ounass already pushing double-digit growth in this area. “In the next few years … 50 percent of the sales of retail will be online,” he says, describing an evolving model he calls “luxury convenience.” While physical stores will still offer unparalleled experiences, online platforms like Ounass meet the growing demand for digital access and seamless customer journeys.Al Tayer attributes his company’s success to “fanatical focus” and the dedication of his team. “First and foremost, it's all about team and surrounding yourself with the right people,” he says. “I try to build trust by allowing them to have ownership. When they have ownership, they really drive the business like it's their own.” In an industry that requires high levels of execution, he recommends patience and focusing on the details that matter. “Focus on what you’re doing and get it right,” he advises, urging new entrepreneurs to remain committed and data-driven.Additional Resources:BoF Insights | Fashion in the Middle East: Optimism and Transformation What Escalation in the Middle East War Means for the Industry | BoF Hosted on Acast. See acast.com/privacy for more information.

Ask this episode

“What did the council decide on item 42?” — answered with the speaker and the moment.

Transcript

Related