784 T. N. Rao College of Management Studies A
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784 T. N. RAO COLLEGE OF MANAGEMENT STUDIES A GLOBAL / COUNTRY STUDY AND REPORT ON UAE & COMPANIES Conducted by Semester-IV Students Submitted to GUJARAT TECHNOLOGICAL UNIVERSITY June 2013 Page | 1 Page | 2 Preface A management student needs Knowledge of Worldwide scenario And other country succeed as a manager. As a part of MBA course and being a student of management GLOBAL/ COUNRTY STUDY AND REPORT is a part of our studies. GLOBAL/ COUNRTY STUDY AND REPORT assists us to study the other country and observe the relationship of countries and how they work globally. This will help us to relate how to maintain relation among each other. Thus, this project will be of great help to us to increase our knowledge of global scenario. We got opportunity to Studied one of the developing countries like‖ UAE‖ And study its economic sectors Page | 3 Acknowledgement No serious and lasting achievements of success, one can ever achieve without the help of friendly guidance and co-operation of people involved in it. The success of any project is never limited to the team undertaking the project. It is co-operative effort of the people around an individual the spell success. For all effort, behind this successful project we are highly, intended to the following personalities without which this project would never be completed. We find no words to express our gratitude towards those who were constantly involved with us through our work. We would like to thank our Project Guides, who gave us the pleasure to do this project successfully. Finally, we would like to express our gratitude to those entire people who have knowingly or unknowingly helped us in our work since we could complete our project owing to numerous invisible helping hands. Page | 4 INDEX Sr. No. Particular Page No. 1 D‘damas 5 2 Emirates Airlines 20 3 Jumeirah ( Real estate) 35 4 Emmar Properties 50 5 Pure Gold 62 6 Etihad Airways 76 7 Warid Telecom 93 8 Rotana Hotel 103 9 Abu dhabi Commercial Bank 119 Page | 5 A GLOBAL / COUNTRY STUDY AND REPORT ON Submitted to: T. N. RAO COLLEGE OF MANAGEMENT STUDIES, RAJKOT IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF THE AWARD FOR THE DEGREE OF MASTER OF BUSINESS ASMINISTRATION In Gujarat Technological University UNDER THE GUIDANCE OF: Dr. PARUL CHOTALIA Submitted by: STUDENT NAME ENROLLMENT NO. BATCH MBA SEMESTER AGHARA MEHUL P. 117840592005 BADIYAVADRA DIPAK S. 117840592019 III/IV JASAPARA VISHAL N. 117840592064 2011-13 DABHI RASHIK K. 117840592075 GADHIYA CHIRAG R. 117840592104 DOBARIYA MANOJ R. 117840592110 T. N. RAO COLLEGE OF MANAGEMENT STUDIES, RAJKOT MBA PROGRAMME Affiliated to Gujarat Technological University Ahmedabad April 2012 -13 Page | 6 1. INTRODUCTION OF D’DAMAS Headquartered in Dubai, United Arab Emirates, Damas is the Middle East‘s leading international jewellery and watch retailer. Founded in 1907, the company today operates around 296 stores distributed across 12 countries, most of which are located in the GCC region. The company has grown from a UAE-based retailer into a global brand name, and is also the retailer for a large portfolio of renowned global luxury brands. Damas sells jewellery and watches through four main store formats, which are uniquely positioned to address different consumer segment needs. Specifically, the Les Exclusives Stores offer high-end luxury products; Semi- Exclusives Stores offer stylish and sophisticated products for the discerning consumer; and the Damas 22K and 18K Stores offer trendy, fashionable and stylish products and brands at competitive prices. In addition to the four principal store formats, Damas also operates other outlets such as exclusive watch stores and Mono-brand boutiques. 2. HISTORY OF D’DAMAS The Group has its origins in Syria in the early 1900s. In 1955, the business moved to the UAE and the first retail outlet was opened in 1959. By the end of 1985, the Damas Group had expanded with several retail stores throughout the UAE and in 1988, the Group launched its first branded jewellery line under the Harmony brand. In the 1990s, the Group adopted an early version of its current marketing and merchandising strategy to develop its brands and products based on customer segmentation according to demographic profile, including its current store format structure. Page | 7 By 2000, the Group had established retail operations in Qatar, Bahrain, Oman and Jordan. In 2002, the Group expanded its operations to Kuwait and Saudi Arabia, and by 2004, the Group had further strengthened its presence within and beyond the Middle East. "We are very excited about the opening of this store, and the further expansion of Damas as a brand in Abu Dhabi," said Anan Fakhreddin, CEO of Damas. 3. STRUCTURE FUNCTIONS AND BUSINESS ACTIVITIES OF D’DAMAS CURRENT DEVELOPMENT Overview 3rd largest export oriented industry in the UAE country, Contributes 15% of India‘s total exports; Total exports is US $20 billion in 2007, Provides employment to 1.3 million people directly or indirectly, 3rd largest consumer of diamonds after USA and Japan, Mainly it consists of 3 sub-sectors Gemstones: Diamond & Colored Stones Jewellery: Plain Gold, Studded, Silver Pearls Jewellery market size – US $13 billion Diamond Jewellery – US $1.2 billion Indian Scenario Total gems and jewellery exports stood at US $ 20.88 billion;US & Hongkong are the largest importers with a share of 26%;Gold jewellery exports stood at US $ 5.6 billion; The domestic market is likely to increase to US$ 20 billion by 2010 & US$ 30 billion by 2015;Largest consumer in the world i.e., 800 tonnes of gold (60% world gold consumption) and 600 tonnes go into making jewellery; Branded jewellery sector is fastest growing sector at 40% annually to touch US$ 2.2 billion by 2010. FUNCTIONS OF D'DAMAS JEWELLERY To ensure implementation and maintenance of the IT Infrastructure, Networking and System Administration. Installation of OS, Application on serves and user IT Systems. Page | 8 Providing Helpdesk Support and resolution of Hardware, Networking and System Administration related issues. All system administration functions like user Access control, Back up & Restoration, Patch management. Ensure LAN /WAN connectivity across all Branch Offices and shops across the country and with the HO IT Data Center. SERVICES Under the patronage of His Highness Sheikh Hamdan Bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, the Dubai Service Excellence Scheme (DSES) of the Dubai Department of Economic Development (DED) has named Damas "Best Service Performance Brand" under "Special Business Category" for 2007-2008. DUBAI: Global jewellery retailer Damas has said it is yet to decide the future of its business plans in India, as the group is restructuring its corporate governance model. "Damas is still considering its options at this time and no conclusive decisions have been made yet," a company spokesperson said in response to a query. However, no further details were announced as the company wanted to comply with the stock market norms, he said. Damas had plans to take advantage of India's lucrative market by opening 100 stores across the country in a joint venture with Gitanjali Group. JEWELLERY BRABDS Damas Brands International Brands Boudoor Baraka Farasha Carrera y Carrera Fior Cento by Roberto Coin Page | 9 Fulla Chiampesan Harmony Fope Hayati Forevermark Jawaher Magerit Kiku Marco Bicego Legacy Mikimoto Manthourah Pasquale Bruni OneSixEight Roberto Coin 4. GLOBAL EXPANSION Fakhreddin said he could not discuss the owners‘ plans for the jewelry company but told Executive that ―they have been investing in terms of assets, resources, and support and are investing very generously on the brand. The Damas brand will see a lot of growth in the coming years because of this takeover and the level of attention and support that we are getting from the new owners.‖ Importantly, the new shareholders‘ investment decision was long-term, he said. ―It is not a turnaround project where you buy something, fix it, and sell it.‖ Besides sorting out the financial obligations of the mismanaged enterprise, the restructuring of Damas entailed structural changes of operations that had been convoluted with less-than-strategic investment decisions and movements into new markets. The GCC was always the center of Damas‘ retailing strength but this was ―unfortunately sometimes overlooked‖ and the weeding of overseas operations was needed, Fakhreddin said. ―Today we follow the strategy that makes sure that investments are placed in core markets. Until we are satisfied with penetration levels in those markets, I don‘t think we will look at expansions in any other markets.‖ In line with this business plan, Damas appears to be not aggressively approaching the market in India where it has a joint venture (JV) managed by the JV partner. It has bought out its partner in Saudi Arabia, on the other hand, and is planning to attack this market vigorously. According to Fakhreddin the past 18 months since the Page | 10 full acquisition in Saudi Arabia saw growth but the main task achieved was refocusing the organization on serving the high-end and middle-class luxury segments. The Damas chief executive expects the ―real success story‖ will commence in 2013 when the expansion plan of stores in Saudi Arabia kicks off. The company understands well the currently very fragmented Saudi jewelry market because of many similarities to the Arab segment in the Dubai and Abu Dhabi markets. Fakhreddin said, ―Potential for market share in Saudi, one of the top jewelry markets in the world, is still open for growth.‖ 5. PRESENT POSITION AND TREND OF BUSINESS With bilateral trade between India and UAE pegged at $7 billion at present, the two countries look to achieve the target of $10 billion by 2012, said the Union Commerce Minister, Mr Anand Sharma, at the India-UAE CEOs Forum attended by the UAE President Mr H.