Behnood Jahaverpour says he has always been financially savvy. He has been spending and investing less during the Covid-19 pandemic. Photo: Courtesy Behnood Jahaverpour
Behnood Jahaverpour says he has always been financially savvy. He has been spending and investing less during the Covid-19 pandemic. Photo: Courtesy Behnood Jahaverpour
Behnood Jahaverpour says he has always been financially savvy. He has been spending and investing less during the Covid-19 pandemic. Photo: Courtesy Behnood Jahaverpour
Behnood Jahaverpour says he has always been financially savvy. He has been spending and investing less during the Covid-19 pandemic. Photo: Courtesy Behnood Jahaverpour

Money & Me: ‘I like the freedom to decide where and how I invest’


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Although he was born into an affluent family, fashion designer Behnood Javaherpour, 35, says he began his career without help from his parents. Instead, he relied on a combination of charm, chutzpah and personal friendships to get started as a fabric broker. He then went to the Politecnico di Milano, where he studied international business, and later on to Instituto Marangoni. Since that early start in fabrics, he has built a group of companies that he says is worth €500 million (Dh613.5m), bought homes around the world and is now working towards early retirement.

The founder and creative director of Behnoode Clothing, Behnoode Home and the Behnoode Foundation moved to Dubai in 2012 and lives in Downtown Dubai when in the UAE, and in Italy and Iran.

Where did you grow up?

I grew up between Iran and Italy in an affluent family who were into textiles and design. My father was a pioneer in designing and producing camping equipment and my mother was an antique dealer who was also involved in the textile world. Despite that, my father always told me I needed to work for myself.

When did you begin working? What was your first job?

At the age of 15, I found a way to trade fabrics from Italy to Iran and the UAE. There are a number of big producers in Italy, and with the help of a lawyer, a business card and website, I was able to persuade one of them to sell me €25,000 worth of fabric for a client in Iran. I had already been paid in advance! It was easier to build out from there.

How did that come about?

Friendship. Everything starts with friendship. When I was young, I preferred having older friends as I felt I could learn from their experiences. That helped with my business, too.

What was your first big break?

At the age of 18, I sold a large quantity of fabric from a Turkish supplier to a Spanish company for $1m.

What would you say was your greatest financial challenge?

My greatest financial challenge was saving the €2,000 I needed as a teenager to start my Behnoode brand, and then to keep it running. I was able to save money from my business as a fabric broker. To minimise initial costs, I was my own brand ambassador. People would ask where my suit was from and I told them I would make it for them. That’s how my business began in 2005 in Italy.

How did you build your business into a €500m group of companies?

I am the chief executive of nine companies, which include being an art dealer and property investor, however, my clothing line is my passion. I started very small and once I made some profit, I started investing in art and properties. This allowed me to develop my brand further and invest more in its marketing. Along the way, I started selling European horses to buyers in Dubai and Iran. These worlds brought new customers to my fashion brand. A particular success has been collaborating with artists to design jackets with their art, a process that can take up to four to five months because of the hand weaving techniques involved. I then sell each unique piece to my affluent clients who can pay up to €150,000 for that collector’s item.

Did you have any family help along the way?

I had no financial support from my family. I am also a very independent person and wanted to make my own financial decisions. The more people involved in your business decisions, the more diluted your brand will become. I wanted the freedom to decide where and how I would invest and that included the risk taking too.

I am a huge believer of having to speculate to accumulate

What was your first big investment?

My factory in Naples, for which I paid €140,000 in 2012. Since then, I have expanded the space into a €500,000 production space where I produce my Behnoode lines of shoes and home furniture. This factory will also be the base for my future lines of eyewear, scarves and perfumes.

Where did you buy your first home?

It was a 125-square-metre apartment in the downtown area of Salerno in Italy that I bought at the age of 19. I paid €45,000 in cash for it, using money from the business.

What else do you invest in?

Besides properties, my investments include art, horses and sometimes limited-edition watches, too.

Mr Jahaverpour says his dream is to retire at 40, travel the world and build schools in underprivileged countries. Photo: Courtesy Behnood Jahaverpour
Mr Jahaverpour says his dream is to retire at 40, travel the world and build schools in underprivileged countries. Photo: Courtesy Behnood Jahaverpour

How has the coronavirus pandemic impacted your business?

Behnoode, my clothing line, was impacted by the coronavirus. However, I still had my private clients who were buying suits from me constantly. My fashion sales dropped around 60 per cent, but I was able to use the time to concentrate on my philanthropy work. Knowing that people have lost so much, I wanted to give back to them. All the revenue generated from my autumn/winter Beauty Behind The Barriers collection will go to help children in Nepal.

How has your personal financial position changed during the pandemic?

I have always been financially savvy. I am spending and investing less during this pandemic.

What is your most cherished purchase?

A Picasso painting that I absolutely adore and will never sell. This painting represents my journey and all the hard work that went into building my brand. My horses are a cherished purchase too – I have six.

Where and how do you save?

I am very careful with my finances. I spend on things I need and admire. [Long term, I plan] to continue investing in art and property and develop Behnoode into a global lifestyle brand.

Where would you like to retire?

I have homes around the world, so I would probably retire in one of them … My dream is to retire at 40 and travel the world and build schools in underprivileged countries. I am currently building a school in Nepal and an academy in Kashan, Iran, to teach young adults the art of weaving and loom design. I want to ensure that they have a secure future.

What has been your proudest financial moment?

Selling a painting for millions at a Christie’s auction.

Do you have any financial regrets?

Not at all. I am very analytical. In business or personally, I invest understanding that there is a risk involved.

How much cash do you have in your wallet right now?

I only have my credit cards as due to Covid-19, everyone is going cash-free.

What car do you drive?

A Ferrari Spider and a Rolls Royce, which my chauffeur drives.

What financial advice would you offer your younger self?

Invest wisely and take calculated risks. I would tell my younger self to have fun doing it as I can be very serious.

The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

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House-hunting

Top 10 locations for inquiries from US house hunters, according to Rightmove

  1. Edinburgh, Scotland 
  2. Westminster, London 
  3. Camden, London 
  4. Glasgow, Scotland 
  5. Islington, London 
  6. Kensington and Chelsea, London 
  7. Highlands, Scotland 
  8. Argyll and Bute, Scotland 
  9. Fife, Scotland 
  10. Tower Hamlets, London 

 

Gran Gala del Calcio 2019 winners

Best Player: Cristiano Ronaldo (Juventus)
Best Coach: Gian Piero Gasperini (Atalanta)
Best Referee: Gianluca Rocchi
Best Goal: Fabio Quagliarella (Sampdoria vs Napoli)
Best Team: Atalanta​​​​​​​
Best XI: Samir Handanovic (Inter); Aleksandar Kolarov (Roma), Giorgio Chiellini (Juventus), Kalidou Koulibaly (Napoli), Joao Cancelo (Juventus*); Miralem Pjanic (Juventus), Josip Ilicic (Atalanta), Nicolo Barella (Cagliari*); Fabio Quagliarella (Sampdoria), Cristiano Ronaldo (Juventus), Duvan Zapata (Atalanta)
Serie B Best Young Player: Sandro Tonali (Brescia)
Best Women’s Goal: Thaisa (Milan vs Juventus)
Best Women’s Player: Manuela Giugliano (Milan)
Best Women’s XI: Laura Giuliani (Milan); Alia Guagni (Fiorentina), Sara Gama (Juventus), Cecilia Salvai (Juventus), Elisa Bartoli (Roma); Aurora Galli (Juventus), Manuela Giugliano (Roma), Valentina Cernoia (Juventus); Valentina Giacinti (Milan), Ilaria Mauro (Fiorentina), Barbara Bonansea (Juventus)

Napoleon
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FULL%20RESULTS
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While you're here

Secret Nation: The Hidden Armenians of Turkey
Avedis Hadjian, (IB Tauris)
 

Sugary teas and iced coffees

The tax authority is yet to release a list of the taxed products, but it appears likely that sugary iced teas and cold coffees will be hit.

For instance, the non-fizzy drink AriZona Iced Tea contains 65 grams of sugar – about 16 teaspoons – per 680ml can. The average can costs about Dh6, which would rise to Dh9.

Cold coffee brands are likely to be hit too. Drinks such as Starbucks Bottled Mocha Frappuccino contain 31g of sugar in 270ml, while Nescafe Mocha in a can contains 15.6g of sugar in a 240ml can.

THE SPECS

      

 

Engine: 1.5-litre

 

Transmission: 6-speed automatic

 

Power: 110 horsepower 

 

Torque: 147Nm 

 

Price: From Dh59,700 

 

On sale: now  

 
How to avoid crypto fraud
  • Use unique usernames and passwords while enabling multi-factor authentication.
  • Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
  • Avoid suspicious social media ads promoting fraudulent schemes.
  • Only invest in crypto projects that you fully understand.
  • Critically assess whether a project’s promises or returns seem too good to be true.
  • Only use reputable platforms that have a track record of strong regulatory compliance.
  • Store funds in hardware wallets as opposed to online exchanges.
ELIO

Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett

Directors: Madeline Sharafian, Domee Shi, Adrian Molina

Rating: 4/5

Armies of Sand

By Kenneth Pollack (Oxford University Press)
 

The biog

Name: Mohammed Imtiaz

From: Gujranwala, Pakistan

Arrived in the UAE: 1976

Favourite clothes to make: Suit

Cost of a hand-made suit: From Dh550

 

RESULTS

5pm: Rated Conditions (PA) Dh85,000 (Turf) 1,600m
Winner: AF Mouthirah, Tadhg O’Shea (jockey), Ernst Oertel (trainer)

5.30pm: Maiden (PA) Dh80,000 (T) 1,400m
Winner: AF Alajaj, Tadhg O’Shea, Ernst Oertel

6pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 1,400m
Winner: Hawafez, Connor Beasley, Abubakar Daud

6.30pm: Maiden (PA) Dh80,000 (T) 2,200m
Winner: Tair, Fabrice Veron, Eric Lemartinel

7pm: Handicap (PA) Dh80,000 (T) 2,200m
Winner: Wakeel W’Rsan, Richard Mullen, Jaci Wickham

7.30pm: Handicap (PA) Dh100,000 (T) 2,400m
Winner: Son Of Normandy, Fernando Jara, Ahmad bin Harmash

Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

Available: Now

Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
SPECS
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Martin Sabbagh profile

Job: CEO JCDecaux Middle East

In the role: Since January 2015

Lives: In the UAE

Background: M&A, investment banking

Studied: Corporate finance

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COMPANY PROFILE

Company: Bidzi

● Started: 2024

● Founders: Akshay Dosaj and Asif Rashid

● Based: Dubai, UAE

● Industry: M&A

● Funding size: Bootstrapped

● No of employees: Nine

AUSTRALIA SQUAD

Aaron Finch (captain), Ashton Agar, Alex Carey, Pat Cummins, Glenn Maxwell, Ben McDermott, Kane Richardson, Steve Smith, Billy Stanlake, Mitchell Starc, Ashton Turner, Andrew Tye, David Warner, Adam Zampa

UAE currency: the story behind the money in your pockets
match details

Wales v Hungary

Cardiff City Stadium, kick-off 11.45pm

The bio

Job: Coder, website designer and chief executive, Trinet solutions

School: Year 8 pupil at Elite English School in Abu Hail, Deira

Role Models: Mark Zuckerberg and Elon Musk

Dream City: San Francisco

Hometown: Dubai

City of birth: Thiruvilla, Kerala

The 12 Syrian entities delisted by UK 

Ministry of Interior
Ministry of Defence
General Intelligence Directorate
Air Force Intelligence Agency
Political Security Directorate
Syrian National Security Bureau
Military Intelligence Directorate
Army Supply Bureau
General Organisation of Radio and TV
Al Watan newspaper
Cham Press TV
Sama TV