Schwitzke Group reacts to market changes
The Middle Eastern markets has been under enormous pressure for some time. Due to the political development – such as the conflict in Yemen, the liberalization of Saudi Arabia or the boycott in Katar – visitor numbers have collapsed dramatically. The entire retail industry is mourning decreasing sales. This situation has now been intensified by the Corona Virus as well as an extremely low oil price. All hopes were based on Expo 2020, which now won’t take place.
As a consequence to these developments, we’ve made the difficult decision to close our branch office in Dubai. Since 2004, we’ve supported local companies to develop their own brand or to expand their business in the Middle East. During this time, we’ve developed and implemented concepts for Marina Home, Virgin, Majid Al Futtaim, Landmark, Zero 6, Shoppers Stop, Whites Pharmacies and many more. To collaborate with our clients on-site took our company a major step forward. Especially the high competition of international formats, which are all represented in Dubai, enhanced our work throughout the years.
We hope that the situation in Dubai will soon be more stable. One first milestone is going to be the re-opening of Dubai Airports on 1 June. In the future, all our clients will be covered from Düsseldorf. Therefore, Juan Hildebrand, our former Managing Director in Dubai, will be part of our headquarters in Düsseldorf again in order to incorporate his international experience to our upcoming projects.
Managing Director Schwitzke & Partner
Tel: +49 211 44035 262