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DFF partners with Richemont to develop new luxury retail solutions

DFF partners with Richemont to develop new luxury retail solutions
Dubai Future Foundation (DFF) has reportedly collaborated with Richemont to develop new solutions for the luxury retail sector.

This move comes as a part of DFF’s first-of-its-kind initiative in Dubai to foster and bolster tech startups to participate in a special challenge of using the latest innovations and technologies to contribute towards the development of an innovative and quality experience for customers of luxury brands.

The challenge is included in the startup incubation program Future of Luxury Retail, which is organized by DFF’s’ initiative Dubai Future Accelerators, in partnership with Richemont Middle East, India & Africa. This provides the opportunity for startups and global entrepreneurs to exhibit their ideas and inventive solutions to proliferate the retail sector.

The challenge intends to remodel the luxury customer experience and assist Richemont to use modern technologies to assess data, study behaviours of customers, and improve communication through conventional and digital channels using innovative methods.

Participating startups will develop innovative solutions at Area 2071, Dubai’s innovation ecosystem and a hub for the world’s brightest minds.

According to the Deputy CEO of Dubai Future Foundation, Abdulaziz Al Jaziri, this challenge is part of DFF’s efforts to reinforce collaborations with the private sector at the global, regional, and local levels as well as offer an opportunity for innovators and entrepreneurs to introduce tech-enabled solutions from the region.

Al Jaziri also stated that retail is a crucial industry in Dubai and the innovative solutions developed at Area 2071 in partnership with Richemont will help in furthering the sector, which can use the latest technologies to improve the region’s position as a global hub for developing, testing, and incubating innovations.

The innovative solutions will help in the development of tailored experiences that cater to the customer needs that align with their preferences as well as help brands enhance their experience levels, develop sales and marketing strategies, and improve long-term and short-term revenues.

The Future of Luxury Retail challenge was unveiled on March 21, 2022, and participating startups and entrepreneurs must file their entries before the deadline of April 26, 2022.

Source credits: https://www.zawya.com/en/press-release/government-news/dubai-future-foundation-partners-with-richemont-to-develop-new-solutions-in-the-luxury-retail-sector-txi9zn4e

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