“Planning in Lebanon has become very difficult. All our brands expect plans and targets from us for next year and the reality is that plans are meaningless when one political incident can alter your course. Realistically, we expect 2013 to be the same as 2012, if the situation remains the same internally and does not escalate. We are saying this because, at the end, Lebanon is affected by the conflict in Syria and it does not seem like it will be resolved in the near future. Again, planning for 2013 therefore becomes difficult in these circumstances.”
“The number of Arab tourists decreased significantly this summer and the retail sector certainly suffered from this loss of revenues, but we have to deal with it and move on. The more aware and responsible Lebanese are, the more we will be able to have some damage control.”
“Despite the tough times the country is facing both locally and because of regional spillover, our Lebanese customers remained loyal to our brand. This is mainly thanks to the portfolio of Vertu smartphones, which we launched two years ago and which enjoyed great success among the young clientele, leading to double-digit growth for our business year on year since their launch in 2009.”
“Since the launch of the Slowear project a year ago, I certainly had concerns with the overall economic situation and I still have. But we decided to move on, confident in the brand and in our market. 2013 will certainly not be an easy year for the retail industry in general. However, the opening of the new malls around Beirut should bring some dynamism to the market. As for Slowear, we are working on openings in Dubai and Qatar planned for the second quarter of 2013. KSA and Kuwait will follow in 2014.”
“We rely on our longstanding experience, our know-how, as well as our invested internal strategies for the marketing and development of our luxury division. We will keep on investing professionally regardless of what happens around us. Keeping the crisis in mind, we will continue investing adequately to maintain the proper service to our partners and customers.”
“The outlook for 2013 is quite challenging as we are facing reduced consumer spending and weak economic conditions. These harsh economic realities are compelling retailers to be more cautious and prudent in their forecasts and local development plans and to seek new paths to stay competitive. Embracing the opportunities offered by the Internet and social media platforms, as well as exploring new and innovative marketing tools, is an essential strategic orientation that retailers need to pursue in order to create more personalized relationships with their customers in 2013.”
