Dubai Future Foundation, Richemont invite entrepreneurs to reshape luxury retail through accelerator program

The Dubai Future Foundation and Swiss luxury brands company Richemont are inviting innovators and entrepreneurs from around the world to propose ideas to enhance the retail experience of some of the most luxurious boutiques in the world as well as attract younger customers.

Successful candidates will be given a five-week, expenses paid opportunity to develop their ideas in partnership with skilled advisors and mentors. DFF and Richemont want to hear new ideas from innovators, start-ups, scale-ups and SMEs about how technology and innovation can improve waiting time in luxury boutiques, while enhancing client experience and engagement. They also want to hear ideas on how to inspire and attract younger customers to Richemont luxury brands.

Richemont is home to some of the most luxurious brands in the world including Cartier, watchmakers Piaget and Panerai, shooting specialists Purdey, fashion brands Chloe and dunhill and online fashion retailers Net-a-Porter and the Outnet.

The deadline for submissions is Sunday 28 January 2024 and can be made via the DFF website.

The program will include air travel, visas and accommodation for two people per company, with access to state-of-the-art creative facilities, regional investors, advice from senior personnel at Richemont, and help with setting up a company outpost in Dubai.

Abdulaziz AlJaziri, Deputy CEO of DFF, said: “In this collaboration with Richemont, we want to encourage pioneering and futuristic ideas to help shape the future of luxury retail but ultimately inform and enhance other businesses and other sectors of society.”

Pierre Fayard, CEO of Richemont MEIA, said: “In this partnership with the Dubai Future Foundation we want to unleash the power of creativity, support innovators and discover how we can run our business in a way that is more attractive to customers and young people.”

Entries to the challenge will be evaluated by a special committee, based on quality, practicality, economic feasibility, and potential impact. Finalists will then be invited to take part in the five-week program in Dubai.

Companies participating in the challenge will connect with government entities, institutions and investment companies in the UAE and beyond, and receive support in obtaining commercial licenses if looking to operate in Dubai.

For more information on the Future of Luxury Retail Technologies challenge, please visit (https://www.dubaifuture.ae/richemont-2024).