Dubai, United Arab Emirates — His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and UAE Minister of Finance, convened on Jan. 19, 2026, with Nicolas Bos, the Group Chief Executive Officer of Richemont, a global titan in luxury goods. The high-level meeting underscored Dubai’s strategic commitment to forging alliances with premier international companies, aiming to bolster the growth of the nation’s high-value economic sectors and solidify the emirate’s standing as a paramount global luxury hub.
The discussions, held in Dubai, focused on leveraging the emirate’s robust pro-business framework, cutting-edge infrastructure, and expansive global connectivity. These intrinsic advantages, officials noted, are key factors that reinforce Dubai’s appeal to international luxury conglomerates like Richemont seeking strategic expansion across the region.
Strategic Cooperation and Economic Vision
The dialogue between Sheikh Maktoum and Mr. Bos specifically addressed future prospects for deepening cooperation. By aligning Richemont’s expansive global operations with the swiftly growing luxury goods sector in Dubai, the partnership is set to enhance the city’s burgeoning role as a magnet for innovation and international investment.
Luxury retail is identified as a critical component in achieving the ambitious goals set forth by the Dubai Economic Agenda D33. This decade-long initiative seeks to position Dubai among the top three urban economies globally and aims to double foreign trade to a staggering AED 25.6 trillion by the year 2033. The growth and integration of groups like Richemont are vital in realizing these aspirational economic targets.
Accompanying Sheikh Maktoum were several senior officials, including His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs; His Excellency Helal Almarri, Director General of the Dubai Department of Economy and Tourism; His Excellency Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD Group; and His Excellency Mohammed Al Zarooni, Executive Chairman of the Dubai Integrated Economic Zones Authority (DIEZ). Their presence emphasized the cross-sectoral governmental support for strengthening Dubai’s international luxury footprint.
Richemont’s Global Footprint and Regional Presence
Richemont, a Swiss-based luxury goods group established in 1988, manages a distinguished portfolio of prestigious Maisons, encompassing high-end jewelry, watches, fashion, and accessories. Its notable brands include iconic names such as Cartier, Van Cleef & Arpels, Piaget, Jaeger-LeCoultre, IWC Schaffhausen, Montblanc, Chloé, and Dunhill. The group’s vast international network includes over 2,400 monobrand boutiques across the globe.
Financially, Richemont reported annual group sales of €21.4 billion for the year concluded March 31, 2025, demonstrating its significant market influence. The decision by Richemont to house its critical Middle East, India, and Africa headquarters within the Dubai Airport Free Zone further validates the emirate’s role as the regional nexus for luxury distribution and management.
This meeting reiterates Dubai’s strategy to not only attract leading global enterprise but also to integrate high-value industries into its long-term economic development plans, ensuring the emirate remains a dynamic and preferred gateway to the Middle East and beyond for the world’s most exclusive brands.