"Reduce, reuse, recycle, re-own" is a mantra that has been repeated countless times in the Rowlands household over the last few months. My Ex Wardrobe, a platform for the resale of second-hand clothes, is the latest brainchild from a sister trio who have successfully channelled their passion for creativity into not one, but three, profitable family businesses.
"The most powerful driving force behind our entrepreneurial prowess is doing something that we love," says Sian Rowlands, 29, who is the middle sister in the Dubai-based family who have, one after the other, turned their hobbies into business ideas. "And, if this means being able to offer a wallet-friendly alternative to our customers, even better."
Circus school, drama, sports, music and art. You name it; the Rowlands sisters have tried it.
"Growing up, our parents put a lot of emphasis on the importance of trying out new hobbies," says Teagan Rowlands, 26, who moved to the UAE along with her family in 1991. "We were taught to give everything our best shot and to only quit when we were 100 per cent sure it wasn't for us."
Growing up so close in age, a spirit of healthy competition prevailed between the sisters.
"I have always been hugely competitive and loved setting myself up for a challenge," says Bekky Britton, 31, the eldest of the sisters and mother of Lily, four and one-year-old Finley. "Even at 36 weeks pregnant I would be making sure I could stretch better than anyone else in my yoga class."
The entrepreneurial spirit is deeply rooted in the Rowlands family ethos and has no doubt been the driving force behind their determination to follow their dreams. Their father, a pilot by trade, also runs a Dubai-based solar energy business, SGT Solar, which he set up having researched the lack of energy saving solutions available in the UAE.
"As a family, our business ideas have materialised not only from our hobbies, but also from the idea that if there is something that we are struggling to get hold of ourselves, someone else out there must be feeling the same," says Mrs Britton.
The youngest of the three, Teagan Rowlands, was the first to set up on her own with the launch of Teagan Jewellery, www.teaganjewellery.com, in 2009. "I started small by showcasing my first collection at the ARTE souq in Times Square mall," Miss Rowlands explains. Artisans of the Emirates (ARTE) is a useful tool for budding entrepreneurs as it aims to provide a competitively priced platform to allow local artisans to promote their UAE-made arts and crafts.
An initial business investment of Dh7,500 from her family gave the youngest sister the capital to buy her first batch of design supplies and she also set up her own silver design studio at the back of a friend's house which now forms the hub of Teagan Jewellery.
"Having a creative work environment is certainly worth the investment," says Miss Rowlands. "My latest collection is inspired by Arabic calligraphy and you can find a cute pair of earrings for as little as Dh30 while a handmade solid silver necklace retails at Dh500."
Meanwhile, having quit her job as a sailing instructor at the Dubai Offshore Sailing club to prepare for the birth of her first child in 2007, eldest sibling Mrs Britton found she had plenty of time to indulge in her passion of cooking. Only four weeks into her maternity leave, she set up LilyBakes, www.lilybakes.com - a company specialising in home-made chutney, jam, curd, savoury bites and deserts - with Dh8,000, an amount she quickly recouped through sales.
"Now my business runs predominantly through word of mouth. Each business idea demands a unique marketing strategy and with something as personal as cooking, reputation and successful referrals means everything," says Mrs Britton.
Inspired by her siblings' commercial acumen, middle-sibling Sian Rowland's idea for My Ex Wardrobe snowballed after a long-overdue clear out of her own closet in May.
"A lot of money had gone into my wardrobe and I was determined to find a way to get some return on my investment," says Miss Rowlands. "Unable to find a suitable platform for the resale of second-hand clothes in the UAE I pitched my business plan to my sisters and was delighted when they all jumped on board."
The key to their concept is exclusivity and, according to Miss Rowlands, My Ex Wardrobe puts the trendy back into bargain shopping.
"Starting small we invited friends to our first ladies fashion event in May and followed with a much larger event in July," says Miss Rowlands. "Our clothes are predominantly affordable high-street fashion with occasional vintage and designer gems. At My Ex Wardrobe you can pick up a Reiss top for Dh75 that originally sold for Dh550 or a pair of heels from New Look for Dh69 which is 50 per cent cheaper than the original price."
Finding the right formula is all about trial and error and My Ex Wardrobe has immediate plans to set up a classified website that will also allow members to buy and sell their clothes online. Miss Rowlands believes there is also a market for men's fashion and kids clothing which is something they intend to capitalise on in the future.
The sisters have also found that a successfully crafted and expertly honed marketing and public relations strategy is key to elevating their business to the next level.
"Although we use our company websites as an access point for our clients, we all focus our efforts on utilising social media to engage a wider audience. It allows us to interact with people who otherwise would be unavailable to us and with the growing enthusiasm in the region for networking sites such as Twitter and Facebook, we find this the most cost effective and time sensitive way of getting our message across and marketing our products," says Sian Rowlands.
The sisters agree that working together as a family on their latest venture has been infinitely rewarding and despite sometimes testing their diplomacy skills to the limit, managing a working relationship with each other has brought them even closer together.
"The upside of working together as a family is that feedback will always be honest and heartfelt," says Carolyn Mitchell, a certified NLP Master Practitioner and owner of Dubai-based Blue Sky Life Coaching. "The downside of that heartfelt honesty however is that it has the potential to result in a fireworks display of emotions."
Fireworks or not, the Rowlands sisters have already proved that sticking to what you love could be the ultimate key to success.
pf@thenational.ae
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
5 of the most-popular Airbnb locations in Dubai
Bobby Grudziecki, chief operating officer of Frank Porter, identifies the five most popular areas in Dubai for those looking to make the most out of their properties and the rates owners can secure:
• Dubai Marina
The Marina and Jumeirah Beach Residence are popular locations, says Mr Grudziecki, due to their closeness to the beach, restaurants and hotels.
Frank Porter’s average Airbnb rent:
One bedroom: Dh482 to Dh739
Two bedroom: Dh627 to Dh960
Three bedroom: Dh721 to Dh1,104
• Downtown
Within walking distance of the Dubai Mall, Burj Khalifa and the famous fountains, this location combines business and leisure. “Sure it’s for tourists,” says Mr Grudziecki. “Though Downtown [still caters to business people] because it’s close to Dubai International Financial Centre."
Frank Porter’s average Airbnb rent:
One bedroom: Dh497 to Dh772
Two bedroom: Dh646 to Dh1,003
Three bedroom: Dh743 to Dh1,154
• City Walk
The rising star of the Dubai property market, this area is lined with pristine sidewalks, boutiques and cafes and close to the new entertainment venue Coca Cola Arena. “Downtown and Marina are pretty much the same prices,” Mr Grudziecki says, “but City Walk is higher.”
Frank Porter’s average Airbnb rent:
One bedroom: Dh524 to Dh809
Two bedroom: Dh682 to Dh1,052
Three bedroom: Dh784 to Dh1,210
• Jumeirah Lake Towers
Dubai Marina’s little brother JLT resides on the other side of Sheikh Zayed road but is still close enough to beachside outlets and attractions. The big selling point for Airbnb renters, however, is that “it’s cheaper than Dubai Marina”, Mr Grudziecki says.
Frank Porter’s average Airbnb rent:
One bedroom: Dh422 to Dh629
Two bedroom: Dh549 to Dh818
Three bedroom: Dh631 to Dh941
• Palm Jumeirah
Palm Jumeirah's proximity to luxury resorts is attractive, especially for big families, says Mr Grudziecki, as Airbnb renters can secure competitive rates on one of the world’s most famous tourist destinations.
Frank Porter’s average Airbnb rent:
One bedroom: Dh503 to Dh770
Two bedroom: Dh654 to Dh1,002
Three bedroom: Dh752 to Dh1,152
UAE%20medallists%20at%20Asian%20Games%202023
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
The specs: 2018 Audi RS5
Price, base: Dh359,200
Engine: 2.9L twin-turbo V6
Transmission: Eight-speed automatic
Power: 450hp at 5,700rpm
Torque: 600Nm at 1,900rpm
Fuel economy, combined: 8.7L / 100km
The Ashes
Results
First Test, Brisbane: Australia won by 10 wickets
Second Test, Adelaide: Australia won by 120 runs
Third Test, Perth: Australia won by an innings and 41 runs
Fourth Test: Melbourne: Drawn
Fifth Test: Australia won by an innings and 123 runs
Company%C2%A0profile
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If you go
The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.
The rooms
Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.
GRAN%20TURISMO
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Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
The biog
Favourite food: Tabbouleh, greek salad and sushi
Favourite TV show: That 70s Show
Favourite animal: Ferrets, they are smart, sensitive, playful and loving
Favourite holiday destination: Seychelles, my resolution for 2020 is to visit as many spiritual retreats and animal shelters across the world as I can
Name of first pet: Eddy, a Persian cat that showed up at our home
Favourite dog breed: I love them all - if I had to pick Yorkshire terrier for small dogs and St Bernard's for big
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Zayed Sustainability Prize
MATCH INFO
Rugby World Cup (all times UAE)
Final: England v South Africa, Saturday, 1pm
More from Rashmee Roshan Lall
Cry Macho
Director: Clint Eastwood
Stars: Clint Eastwood, Dwight Yoakam
Rating:**
HEADLINE HERE
- I would recommend writing out the text in the body
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MATCH INFO
Inter Milan v Juventus
Saturday, 10.45pm (UAE)
Watch the match on BeIN Sports
RIDE%20ON
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UAE currency: the story behind the money in your pockets
The biog
Birthday: February 22, 1956
Born: Madahha near Chittagong, Bangladesh
Arrived in UAE: 1978
Exercise: At least one hour a day on the Corniche, from 5.30-6am and 7pm to 8pm.
Favourite place in Abu Dhabi? “Everywhere. Wherever you go, you can relax.”
Pearls on a Branch: Oral Tales
Najlaa Khoury, Archipelago Books
UAE currency: the story behind the money in your pockets
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Key features of new policy
Pupils to learn coding and other vocational skills from Grade 6
Exams to test critical thinking and application of knowledge
A new National Assessment Centre, PARAKH (Performance, Assessment, Review and Analysis for Holistic Development) will form the standard for schools
Schools to implement online system to encouraging transparency and accountability
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French business
France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years