One of the standout speakers and industry luminaries to attend Fashion Forward this season was Ben Malka, the chief executive of the luxury label Halston Heritage. We sat down with the retail guru, who revealed the brand would soon be coming to the UAE
What have you made of the UAE and Fashion Forward?
It’s my first visit, and wow! What they’ve done in such a short period of time is a tribute to humans. It’s amazing and very impressive. I think Fashion Forward is a great platform for young innovators, not only to get information but also for us to learn what the emerging generation is concerned about and how they see things. It’s a great forum.
Esquire magazine famously ran a headline in the 1970s asking: “Will Halston take over the world?” How’s business doing these days?
I think things go so much faster today. When I think back to the 1970s, people who traded country to country were conglomerates. Today, I trade on eBay with someone in Russia or China – the world has become flat, so to speak. So it’s easier today. If I had wanted to do what I’m doing today, 30 years ago, I’d have to do it myself and set up companies, whereas now there are joint ventures and entities set up to succeed and make it happen faster. I think the markets are also very cluttered and you must have a clear voice. I believe, too, that the emerging markets in particular have a thirst for heritage brands. So, maybe for Halston, it’s easier today than it would have been in Roy Halston’s day.
The financial wobbles and management reshuffles of Halston are well documented. What convinced you that it could be turned around?
You know what, I didn’t even read any of that noise. I was so far removed from it. There are very few true iconic heritage brands and even less coming from America, so if I were to start a brand today, it would take me years to establish its DNA. Having Halston already long-established, I knew there was a heritage there. And whatever the wobbles were, it’s the media that knew about them and the consumer was barely touched.
Halston has ready-to-wear and accessories, but when do you plan to resurrect the label’s couture?
I think it’s so expensive and complex to launch. Just look how hard it was for Tom Ford, for example, and he came with such a great legacy. I wouldn’t say we have no plans, but it would be more difficult today. It takes a lot more work and more money in a crowded space right now.
You and your partners invested US$20 million (Dh73.4m) into the brand. Is it enough?
We might have to put more in, who knows? We’re still building, and with something that is going global this fast, it takes a lot of money. Twenty million is a small number, although it sounds like a lot.
Sarah Jessica Parker left the company as chief creative officer three years ago. Are you looking for someone to fill her shoes?
Sarah was great and she did what they wanted her to do, but I’m not sure how relevant it is to have a single person representing the brand right now. I think it’s important for us to make sure there’s a breadth of celebrities and brand ambassadors.
How about a Middle Eastern one?
Absolutely, of course. That’s why I’m here.
When might Halston Heritage reach the UAE’s shores?
We’ve just opened our first store in Kuwait and we’re opening in early January in Mall of the Emirates.
rduane@thenational.ae
brand bio
• Halston was founded in 1968 by the milliner Roy Halston Frowick. It rapidly became a titanic American brand.
• Halston was known for its signature use of jersey, cashmere and suede and for reinventing the jumpsuit, shirt dress and classic kaftan.
• The brand was synonymous with the 1970s era of Studio 54.
• Clients have included Elizabeth Taylor, Jackie Kennedy, Bianca Jagger and Rachel Zoe.
• Roy Halston died in 1990.
• Ben Malka, the former president of BCBG Max Azria Group, joined as chief executive in 2011.
www.halston.com
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
Read more from Aya Iskandarani
Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
- Stay invested: Time in the market, not timing the market, is critical to long-term gains.
- Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
- Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
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Globalization and its Discontents Revisited
Joseph E. Stiglitz
W. W. Norton & Company
ENGLAND SQUAD
Goalkeepers Henderson, Johnstone, Pickford, Ramsdale
Defenders Alexander-Arnold, Chilwell, Coady, Godfrey, James, Maguire, Mings, Shaw, Stones, Trippier, Walker, White
Midfielders Bellingham, Henderson, Lingard, Mount, Phillips, Rice, Ward-Prowse
Forwards Calvert-Lewin, Foden, Grealish, Greenwood, Kane, Rashford, Saka, Sancho, Sterling, Watkins
The National photo project
Chris Whiteoak, a photographer at The National, spent months taking some of Jacqui Allan's props around the UAE, positioning them perfectly in front of some of the country's most recognisable landmarks. He placed a pirate on Kite Beach, in front of the Burj Al Arab, the Cheshire Cat from Alice in Wonderland at the Burj Khalifa, and brought one of Allan's snails (Freddie, which represents her grandfather) to the Dubai Frame. In Abu Dhabi, a dinosaur went to Al Ain's Jebel Hafeet. And a flamingo was taken all the way to the Hatta Mountains. This special project suitably brings to life the quirky nature of Allan's prop shop (and Allan herself!).
BUNDESLIGA FIXTURES
Friday (all kick-offs UAE time)
Hertha Berlin v Union Berlin (10.30pm)
Saturday
Freiburg v Werder Bremen (5.30pm)
Paderborn v Hoffenheim (5.30pm)
Wolfsburg v Borussia Dortmund (5.30pm)
Borussia Monchengladbach v Bayer Leverkusen (5.30pm)
Bayern Munich v Eintracht Frankfurt (5.30pm)
Sunday
Schalke v Augsburg (3.30pm)
Mainz v RB Leipzig (5.30pm)
Cologne v Fortuna Dusseldorf (8pm)
