Dubai Festivals and Retail Establishment Launches Pioneering Co-Venture Initiative to Stimulate the Development of World Class Consumer Experiences for Festivals
Dubai Festivals and Retail Establishment (DFRE) has launched a pioneering new initiative to stimulate the development of world-class consumer experiences in Dubai. The Premiere Retail Events (PRE) initiative involves the establishment of a multi-million dirham fund to provide support to both global and homegrown brands to innovate new outstanding experiences that enhances the existing retail and tourism offering of the emirate.
The first set of grants will be provided to companies who devise ideas for the landmark 20th edition of Dubai Shopping Festival (1st January 1st February 2015) and will grow to become a longer-term initiative to support retail innovation during festival periods all year round. The grant will be the basis of a co-venture between DFRE and the awarded company.
Announcing the new initiative, H.E. Laila Mohammed Suhail, CEO of Dubai Festivals and Retail Establishment (DFRE), an agency of the Department of Tourism and Commerce Marketing (DTCM), said: Dubai is a centre for world-class creativity and thinking and DFRE will partner with global brands and major homegrown businesses to bring amazing and innovative event ideas to life. Dubai has the perfect retail environment and flexible infrastructure to stimulate unique commercial concepts that could range from major live events to pop-up stores, experiences or citywide showcases, all of which will add to the emirates existing world-class offer. Each grant will be made to companies that set new global benchmarks for ideas, impact and inspiration.
The initiative is encouraging global brands and well established home grown business owners to think about events that would have a game changing impact on the consumer experience in Dubai. Global Examples of such innovative projects include the PepCity initiative by Pepsi to support the Super Bowl or the I-Tunes 30-day Music Festival created in the UK earlier this year
To succeed and be awarded a grant and Co-Venture status by DFRE, the concept behind the proposed experience needs to be either a first in the world or at least a first in the region. The ideas that are submitted will go through a rigorous evaluation process and DFRE intends to focus its partnership to a select number of concepts ensuring each can get the maximum support required and have a real impact on the public through its individual creativity, size and innovative approach.
H.E. Laila Mohammed Suhail, continued, We view the launch of this initiative part of the evolution of the festivals and retail sector development in Dubai. The Premiere Retail Events initiative will leverage DFREs accumulated experience to drive the next level of growth in these two sectors
Dubai Shopping Festival is the biggest retailing event of the year in the country and the region and this is why we felt the 20th anniversary would be a fantastic showcase for innovation. We are looking forward to welcoming some tremendous ideas that can be the basis of longer-term customer experiences and add a new dimension to the shopping and visitor experience this January. It will also add just one more amazing reason for visitors to come to Dubai. H. E. Suhail concluded.
DFRE is inviting interested companies to contact them to find out more about the opportunities offered by the initiative and how they can develop and submit ideas that can potentially receive grants and Co-Venture status in the future.
To participate companies can:
Submit their proposals directly to pre@depe.ae
Or Call 00 9714 4455555
