With the aim of strengthening its position in the Middle East and North Africa region and further cultivate relevant markets, Semir unveils plans to establish a regional strategic centre in Dubai.
Ahead of the strategic cooperation, Mohammad Lootah, president and chief executive officer of Dubai Chambers, met with Bo Xu, president of Semir Group. Also in attendance were Omar AlKhan, executive director of Dubai Chambers, Junjie Si, chief representative of Dubai Chambers in China, and Jing Zhou, general manager of Semir Group’s international business unit.
Exploring the Middle East and North Africa market through Dubai hub
Semir Group's overseas strategy began in 2016, establishing its international business unit in 2019. Like many Chinese brands, Semir's first choice for expansion are the markets in the Middle East and Southeast Asia.
In December 2022, Semir international business unit held the first overseas investment conference to discuss the overseas business development opportunities for Semir and Balabala. Semir and Balabala have opened more than 60 stores in 13 overseas countries and regions by the end of 2022. The Middle East, Africa, and Southeast Asia remain key markets for Semir Group.
With its free economic policies, unique geographical location and perfect infrastructure, Dubai has become the transportation hub and the largest trade distribution centre in the Middle East and North Africa region, and the most active consumer market in the region.
According to data, Dubai's wholesale and retail sector contributed over AED 74 billion to the GDP in the first nine months of 2022, up 1.6 percent from the same period in 2021. This important sector accounted for 24.1 percent of Dubai's total GDP and 9 per cent of overall economic growth over the nine months.
Dubai Chambers helps Chinese enterprises to go overseas in the Middle East
Mohammad Lootah, president and CEO of Dubai Chambers, said: "As Semir is one of the largest apparel companies in China, assisting the group to set up shop in Dubai will be another important achievement of Dubai Chambers in attracting foreign direct investment and multinational companies. Semir can use Dubai as a regional hub and expand its brand influence to the global market. "
The Chamber will seek local partners as well as familiarize the company with Dubai registration laws and regulations. As part of the “Dubai Global” initiative, the chamber’s 16 international representative offices will continue to support the globalisation of Semir's brands.
Bo Xu, president of Semir Group, said: "Since our engagement with the China team of Dubai Chambers last year, we have gained valuable market information and are gradually reaching out to more partners. On their recommendation, our team will also participate in the Dubai Retail Summit 2023 on March 14 to 15, where we will share our experiences face-to-face with local industry peers in the Middle East and further increase brand exposure."
On Semir’s overseas strategy, Xu added: "Under the national development strategy of 'One Belt, One Road', regional oriented international development will be an important development direction for the company. "
"Developing Africa and Further Cultivating Asia" is the focus of Semir’s overseas business at the present stage. Semir plans to further apply the brand's product, design, and and mature supply chain system to the African market in the next 5 to 10 years, thereby developing the Asian market and establishing a double cycle of domestic and overseas markets.
"With the support of Dubai Chambers, we hope to accelerate the opening status of the Middle East and Africa markets with huge consumer potential, help Semir go to the world from Dubai, and achieve the goal of selling in 50 countries in the future," Xu added.
Retail Summit 2023
The Dubai Retail Summit, co-hosted by the Dubai Chambers, will be held on March 14 to 15, 2023, with over 750 attendees and more than 30 forums expected in 2023. The Retail Summit brings together top talent from the retail industry around the world and is one of the most important networking platforms for the retail industry in the MENA region.
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