Hassan Tamimi, a third-generation entrepreneur in the UAE, launched The Little Things, a pop culture collectibles store in Dubai, while he was still in high school.
His family has entrepreneurial roots, with his grandfather establishing the Al Tannan Group in Dubai in 1982. The company initially traded in kitchen appliances.
“When I joined the business, it was focused on household appliances. I continued it but also ventured into something new, which was collectibles and toys. The Little Things is focused on memorabilia, such as collectibles, action figures, Pokemon cards, Labubu and blind boxes, for example,” says Mr Tamimi, a 28-year-old Canadian.
The collectibles store has flagship branches in The Dubai Mall, Bluewaters Island, Mercato Mall and Mall of the Emirates, as well as an e-commerce platform.
Mr Tamimi also manages Jazeel Distribution, a distribution company that delivers collectibles and toys to the Middle East and North Africa region.
The chief executive of Al Tannan Group and The Little Things has been in the UAE for the past 15 years and currently lives in Dubai Hills Estate.
The collectibles business was established in the UAE and has expanded into Saudi Arabia and Qatar, with an opening in Bahrain soon and plans for a presence in Uzbekistan and Helsinki, too.
Did wealth feature in your childhood?
Listening to the stories of my grandfather and father, they faced challenges when it came to money because they lived through wars and different financial situations. However, it was more comfortable for me because they had established the base, and my role was only to carry it forward.
But I had to adapt to different methodologies because the old way of doing business wasn’t working anymore. As a policy, we don't take loans from banks or seek new investors. We believe in working with the funds available to grow the business sustainably, instead of pursuing massive growth all of a sudden.
How did you first earn?
I started very young. During my school holidays, I would go to the office and try to do something out of the blue. As a 12-year-old, it wasn't easy to believe I could run a business, but my father supported me.
The first company was registered to me when I was 15 years old. In the UAE, you're not allowed to register a company to a minor under the age of 18, but if you go to personal court, you can get it registered. I remember walking in with my father to register The Little Things under my name. That was the first time I had the opportunity to manage money. My father always told me to make mistakes and learn from them.
Any early financial jolts?
As a teenager, I was too ambitious. I would get funds from my father to run businesses, but I would use it all up before making money out of it. I would go back to my father asking for more money to fix it, but he told me to instead find ways to make my money work for me. So, I learnt not to ask for funds and instead learnt different strategies in business and investing to make money. But it was a process of trial and error.
Although my father didn't give me money after the first capital injection, he offered valuable learning experiences that taught me to save money, reinvest and have a safety net for emergencies.
How do you grow your wealth?
I focus on three factors: people, property and location. The more I invest in people, the more I get out of business. Investing in people doesn't mean only paying good salaries, it also means investing in their well-being, support and training. Second is property investments for the business, which I can use to turn things around.
Lastly, I invest in good locations. I invest in property whenever possible for the business, such as in warehouses and offices, as these are long-term investments. During Covid, we'd been renting an office for a long time but had our own facility in Dubai Investment Park. We turned that around into an office. It was a hard judgment because we were used to the traditional markets in Deira where the business started.
Are you a spender or a saver?
I am a balanced mix of both. Spending gives you the opportunity to see different possibilities. I love to travel and the more I travel, the more I learn and see different things. I love to have my people travel as well, so they get the same experiences, too. But I make sure not to overspend or be lavish.
What has been your best investment?
The best investment has been in our people and the team. When we surround ourselves with the right people, we get amazing output.
Any cherished purchases?
I love to collect watches and buy a lot of silver. I love to collect things that are low key but grow over time. I feel gold is overhyped.
How do you feel about money?
There's always potential to be wiser with money. We do what we can to call ourselves wise with money, but there are always opportunities for improvement.
Any financial advice for your younger self?
Take decisions a bit slower and start saving earlier. I started saving later in life and used to spend a lot in the beginning believing the results will come later, but it wasn't the smartest decision.
Spend more on learning and growing yourself than on your lifestyle.
What luxuries are important to you?
Time, peace of mind, freedom to choose how to spend time, and experiences.
