The Premiere Retail Events (PRE) initiative involves the establishment of a multi-million dirham fund to provide support to both global and home-grown brands to innovate new outstanding experiences that enhances the existing retail and tourism offering of the emirate.
The first set of grants will be provided to companies who devise ideas for the landmark 20th edition of Dubai Shopping Festival and will grow to become a longer-term initiative to support retail innovation during festival periods all year round. The grant will be the basis of a co-venture between DFRE and the awarded company.
Laila Mohammed Suhail, CEO of Dubai Festivals and Retail Establishment (DFRE), an agency of the Department of Tourism and Commerce Marketing (DTCM), said: "Dubai is a centre for world-class creativity and thinking and DFRE will partner with global brands and major home-grown businesses to bring amazing and innovative event ideas to life.”
"Dubai has the perfect retail environment and flexible infrastructure to stimulate unique commercial concepts that could range from major live events to "pop-up” stores, experiences or citywide showcases, all of which will add to the emirate's existing world-class offer. Each grant will be made to companies that set new global benchmarks for ideas, impact and inspiration,” she added.
The initiative is encouraging global brands and well established home grown business owners to think about events that would have a game changing impact on the consumer experience in Dubai.
To succeed and be awarded a grant and co-venture status by DFRE, the concept behind the proposed experience needs to be either a first in the world or at least a first in the region. The ideas that are submitted will go through a rigorous evaluation process and DFRE intends to focus its partnership to a select number of concepts – ensuring each can get the maximum support required and have a real impact on the public through its individual creativity, size and innovative approach.
Laila Mohammed Suhail, added: "We view the launch of this initiative part of the evolution of the festivals and retail sector development in Dubai. The Premiere Retail Events initiative will leverage DFRE's accumulated experience to drive the next level of growth in these two sectors.”
Source: Khaleej Times