It’s no secret that veganism has been on the rise in the UAE. And a new pop-up market aims to cater to just that.
Not Just For Vegans, an online boutique selling artisan products and essential items, has teamed up with Thrift For Good, to launch a vegan market from noon to 8pm on Friday.
Taking place at the Thrift for Good Palm pop-up in Golden Mile, Palm Jumeirah, the event will have more than 20 stands with a range of vendors covering everything from cruelty-free accessories, candles, clothes, food, handbags, haircare, children’s clothing, make-up, skincare, yoga accessories and more.
Visitors can expect to find brands including Grawtitude, which makes plant-based cheeses; West African cuisine brand Veghana; Palm Lights, which creates palm wax candles; natural ice lollies brand House of Pops; yoga accessories brand Meow Yoga; ethically sourced cosmetics company Beauty Binge; and reusable bottle company Loch.
Craft fragrance boutique Oo La Lab will also be setting up a workshop where visitors will be able to develop their own custom scent.
The free-to-attend event will also include children’s activities, such as workshops on how to make purses and upcycled bird feeders.
According to Carly Dubery, the founder of Not Just For Vegans, this is the first all-vegan pop-up in the UAE, and hopes more such events will follow. She says that while all the brands need not necessarily be vegan, all the products they will be displaying and selling will be vegan.
“It’s about making people more aware and making these products more accessible,” Dubery tells The National. “Everyone, not just vegans, can make a difference and a positive impact by making alternative choices. At the same time, you’ll be supporting small businesses.”
Dubery says she set up Not Just for Vegans in July 2020 as a way to bring together vegan entrepreneurs in the Middle East. The online boutique offers consulting, event planning and networking opportunities to vegan brands.
Dubery, who turned vegan seven years ago, says that it’s not just for vegans or vegan brands, but about working side by side with the rest of the community as well.
“If you’re a store owner, for example, it’s important to be a part such events and learn about products because it helps connect you to vegan businesses which might be good for your brand. It could also lead to more vegan brands being on a supermarket shelf. It’s a different way of expanding the vegan sector in the market."
The same goes for individuals, she adds.
“When it comes to veganism, there’s a saying that ‘we don’t need a handful of people doing it perfectly, but millions of people doing it imperfectly’ and I think that’s so true," Dubery says.
“I hope all people can come down and realise that there are incredible products out there that are also affordable and good for the planet.”
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What is dialysis?
Dialysis is a way of cleaning your blood when your kidneys fail and can no longer do the job.
It gets rid of your body's wastes, extra salt and water, and helps to control your blood pressure. The main cause of kidney failure is diabetes and hypertension.
There are two kinds of dialysis — haemodialysis and peritoneal.
In haemodialysis, blood is pumped out of your body to an artificial kidney machine that filter your blood and returns it to your body by tubes.
In peritoneal dialysis, the inside lining of your own belly acts as a natural filter. Wastes are taken out by means of a cleansing fluid which is washed in and out of your belly in cycles.
It isn’t an option for everyone but if eligible, can be done at home by the patient or caregiver. This, as opposed to home haemodialysis, is covered by insurance in the UAE.
The alternatives
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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.”
