Dubai: BinHendi Enterprises, a Dubai-based retail and services group, is looking to add up to three brands to its portfolio during this year or in early 2015, according to its top executive.
“They will be both food and beverage [F&B] and fashion brands,” Mohi-Din A. Binhendi, the group’s president and chairman of the board, told Gulf News on the sidelines of the Future Retail conference in Dubai on Wednesday.
He did not say the names of the international brands.
BinHendi Enterprises, one of the oldest family-owned businesses in the UAE, operates in India and the Gulf Cooperation Council (GCC) countries. It has introduced more than 75 international brands to the UAE, such as Hugo Boss, Brioni, Second Cup, Café Havana and Jepengo Café. F&B and fashion contribute around 75 per cent of the company’s revenue.
Binhendi said that family-owned businesses in the region are hiring professionals outside the family to manage their company.
“You have to step back and allow professionals to run your company,” he said.
Last year, BinHendi Enterprises hired the management consultancy McKinsey to restructure the organisation and improve its management.
With stiff competition in the market, big family-owned business in the UAE are growing because “they have the resources and the old-time roots in the region,” he said.
