Feathers Fashion Analysis - Case Study Example

Feathers Fashion Name Institution Feathers Fashion Executive Summary In the recent years, AUE has been riding on a major boom of business owing oil and tourism business which has improved lately. The situation has enhanced disposable income which people can use in buying trendy fashions. In a nutshell, the fashion business has improved and is predicted to grow bigger by 2025. Companies which operate in this market such as Feathers fashion are depending on this growth to increase their profits and market share and expand in foreign markets. Therefore, this report will critically evaluate external and internal environments of Feathers Fashion Company in terms of political, economical, socio-cultural, legal and labour forces. The report will also analyze Feathers’ business and product concept, marketing strategy, competitive strategy, market entry strategy and human resources strategy to understand the company’s strength in gaining competitive and outdoing its competitors. Table of Contents Feathers Fashion 2 Executive Summary 2 Table of Contents 3 1.0 Introduction 4 2.0 Business Concept 5 2.1 Mission 5 2.2 Objectives 6 3.0 Product Analysis 7 3.1 Description of the products 7 3.2 Customer value proposition 8 4.0 Environment assessment 8 4.1 Socio-cultural forces 9 4.2 Economic and socio-economic forces 11 4.3 Legal forces 12 4.4 Political factors 13 4.5 Labor Forces 13 5.0 Marketing Strategy 14 5.1 Market Analysis 14 6.0 Competitive Strategy 16 6.1 Focus 16 6.2 Differentiation 16 6.3 Cost leadership 17 7.0 Market Entry Strategy 17 8.0 Human Resources Strategy 18 10.0 Conclusion 18 11.0 References 19 12.0 Appendix 22 Appendix 1: population trend 23 Appendix 2: favorability of business environment 23 Appendix 3: popular international brands 24 1.0 Introduction United Arab Emirates has become a key market for men’s and women’s fashion. Fashion industry plays a crucial role in the creation of jobs, export performance and contribution towards the gross domestic product of UAE (Willis, 2008, p.275). The government of Dubai understands the importance of the fashion industry has supported and promoted the sectors which complement this industry. Some of the industry which has indirectly contributed to growth fashion industry includes financial, oil, trade and tourism. Dubai Chronicle (2012) claimed that today AUE is regarded as one largest economy in the world while its Emirates have become economic and financial hubs. Globalization, advancement in technology and improvement in tourism has improved businesses in UAE as more people cross borders to do business and work in this country. Abdelgalil (2006) contended that the situation changed lifestyles and habits, particularly amongst the young people of this country hence fueling the demands for Western apparel fashion and the new dress codes. The development has created opportunities for companies in this industry to maximize their returns. One of the companies that identified the changing trend and opportunity is Feathers Fashion Company. Feathers Fashion website (2015) stated that Feathers Fashion is a company in Abu Dhabi, United Arab Emirates Company which market and sells apparels. It was first established in 2010 as the first brand from Emirati, and has its head office and store at Dalma Mall (Feathers Fashion, 2015). The fashion company sells fashion accessories and jewelry both physically and on the online platform. However, the competition is becoming intense in the fashion industry and Feathers Fashion will need new strategies to survive. Similarly, the company intends to enter new markets such as Saudi Arabia, Kuwait, Australia, the US and UK in future to market its unique Emirati brands and enhances its market presence (Feathers Fashion, 2015). Therefore, this report will focus on Feathers’ business and product concept, marketing strategy, competitive strategy, market entry strategy and human resources strategy to understand the company’s strength in gaining competitive and outdoing its competitors. 2.0 Business Concept 2.1 Mission In the rapid changing business world, efficiency and success are determined by informed choices the managers make. The change taking in the business arena might change the mission statement of Feathers Fashion but the intended message could just remain the same for years to come. The standard mission statement of Feathers Fashion is to be the best fashion house of choice by providing a wide range of Emirati and other fashion and stylish accessories (Feathers Fashion, 2015). The vital mission of Feathers Fashion can be explained as to satisfy the customers’ expectations with apparel which provide value to their lifestyle. The mission statement is drafted to guide the company in expanding into other markets to showcase and sell AUE authentic and Arabic-touch apparel to fashionistas across the globe. Feathers Fashion through its predictable and dependable professionalism offers reasonable prices for its fashion products. 2.2 Objectives Feathers Fashion website (2015) argued that feathers Fashion was established as a small fashion company with bigger plan and objectives in the coming years. In order to achieve its goals, the company has taken all its employees through is mission and explained it in a broader way to guide them forward. Feathers Fashion Company has documented corporate objectives which will make it to evaluate if the objective are met after the stipulated time frame time. In brief, the document acts as checklist. The SMART Objectives of Feathers Fashion are outlined as follows: Be the top fashion accessories company in the Abu Dhabi by 2018 and in UAE by 2020. Increase its market share by 15% by 2018 (Feathers Fashion. 2015) To enhance its brand equity and awareness to up to 85% across other seven emirates of the UAE by 2018. The company intends to stabilize its growth of 30 percent over the next five years, i.e. by 2020. Introduce loyalty program within a period of one year. Open five stores in every Emirate of UAE in the next five years. Open its first foreign store in Saudi Arabia after a period of 2 years, i.e. by 2018. Open its first store in three foreign countries including Kuwait, the UK, the US and Australia within a period of seven year (2022). To reduce the situation of customer waiting for a product for too long, the company intends to reduce their lead time to 5 days. To introduce feather perfume to the market by 2016. 3.0 Product Analysis 3.1 Description of the products Feather’s offering of fashion accessories was inspired the owner’s reflection on the sensibilities and uniqueness of Middle Eastern and Emirati fashion. Feathers Fashion (2015) stated that its fashion has also been inspired by peacock feathers which they regard as beautiful and symmetric. The colors of peacock feathers and pride influenced the company’s choice of color. Today, Feathers Fashion offers a wide range of women and men cloth which embody new styles and moderate prices. The Feathers UAE label monogram shows on majority of the Feathers Fashion products such Islam Kansu, hijabs, luxury trunks, shoes, watches, accessories, jewelry and sunglasses (Feathers Fashion, 2015). Feathers Fashion has designed their business model and product to sell fashion by following styles and trend. In addition, the company remains focused on its fashion philosophy which is anchored on quality and creative design as well as a rapid reaction to market needs which will lead to profitable results. Feathers are not just focusing on local fashion but also the international brands. Farouk (2014) claimed that the rising Westernization culture among the UAE population is causing an influence of Western-style fashion clothing trends among the consumers. A good number of the consumers are now conscious of the fashion and emulate western style of clothing. It is this number that Feathers fashion is targeting by latest trends from the Western countries such as France and Germany and the US. The products are clearly segmented into upper, high-end, middle and lower-cost market. The apparel products marketed and sold by Feather focus on the seasonal trends of UAE such as religion and summer when business at its peak (Feathers Fashion, 2015). Therefore, at the period the company tends to bring more religious and summer clothing to maximize its returns. Men in United Arab Emirates often put on the traditional white garment called thobe particularly during formal occasions. In reflecting this tradition, the company markets and sells some products which were used by UAE citizens in the 18 and 19th century. One of such attires is the Jellabiya. Apart from apparel, shoes and jewelries, the company also offers wallets, mobile cases and laptop cases (Feathers Fashion, 2015). 3.2 Customer value proposition In a wake of fierce competition in fashion market, Feathers Fashion is putting extra efforts to offer customer value proposition in order to attract and retain its clients. Ghodeswar (2008, p.5) contended that if the store fails to realize this strategy, it loses its vital customers hence less sale and revenues. To provide customer value proposition, the company normally offer unique products ranging from clothing, shoes and jewelries (Feathers Fashion, 2015). As much as they offer trendy clothing, The Company tries to offer different styles of products which are distinctive from their competitors. For instance, currently is offering authentic traditional white and peacock like the garment which is different from the traditional UAE thobe. In addition, Feathers Fashion (2015) stated that the company is aiming to introduce their unique perfume to the market. This is a proof that the company understands that the existing product may not increase value proposition as before. 4.0 Environment assessment Feathers Fashion’s capability to be among the stronger brands in fashion industry in UAE can be credited to its competency and quality reputation which comes from its internal environment (Feathers Fashion, 2015). This is contributed the Feathers Fashion’s strategic goals and objectives which can be linked to its competency. Feathers Fashion management team has an unappeasable passion to enhance the efficiency and success of its marketing and selling of apparel. Such internal strengths can be aligned with the external environment that consists of socio-cultural, economic and socio-economic, legal, political and legal forces. 4.1 Socio-cultural forces Research has revealed that UAE still has a deep rooted account of the traditions and culture that shows up in business operations and deals today (Vadakepat, 2013, p.43). The cultures in this country have shaped the actions, communication and a negotiation of purchase deals with local and international. The cultural aspect which influence business not only fashion but other products can be explained through Hofstede cultural dimensions include power distance, collectivism versus individualism, and restraint versus desire, long-term orientation, and femininity versus masculinity. Vadakepat (2013, p.45) posited that people from the UAE have a high power distance and the power is centralized at the organization. This means Feathers employees are not close to power, and the managers rarely involve the staff in decision making. The situation also affects how customers representative deal with consumers. Molinsky (2007, p.627) asserted that purchase involves convincing customers to acquire and since the culture has shaped these employees to less consensus builders, they do not like long time negotiation. The situation might actually affects how Arab customer service representatives deal with customers from the west. This is because customers from Western countries like to build consensus and have short social talks before they decide to buy apparel and accessories. In addition, United Arab Emirates score very low on individualism meaning it is a collectivist society which every member is expected to belong to a particular group (Hofstede, 2001). This is an opportunity for Feather to offer trendy fashion which most of the members are expected to buy to look as another member of the group. This means most customers’ decision to buy cloth is influenced by the social group. Hofstede (2001) affirmed that Femininity versus masculinity means how society distributes roles to gender. For instance, in some society dealing in fashion has been regarded as a female role hence a male starting fashion store is disadvantaged. However, the society has changed much and people are now less concerned whether male or family are marketing and selling apparel; what currently matters is the quality and brand strength. Therefore, the fashion industry has both male and female as dealers. This is reflected by the masculinity score which stand at 50% (Hofstede, 2001). This serves an as opportunity for both female and male to be hired to handle customer either of the gender and advice about the quality and experience of new apparel Feathers Company are offering. Indulgence versus restraint is the degree to which the society allow change to influence their aspiration or they way they control their desires. UAE is a country which has both the equal level of these two dimensions. Even though, the country is being influenced by the western way of doing things such as style of clothing, they allow that desire for change to some extend which is to some way allowed by the society and religion (Watkins, 2011). Social factors such consumer behavior and attitude. This United Arab Emirates social way of life continues being influenced western lifestyle with numerous fashions such as men and women wear from the west being imported for the locals. Similarly, local are also embracing foreign jewelries and perfumes. Feathers Fashion has capitalized on the opportunity to import few foreign products to serve to this categorize of customers. However, the main focus has been local distinctive product which still has wide market. Most Arabs adhere to traditions and religious teaching hence sticks with local cloths. Dubai Chronicle (2012) claimed that communities around Abu Dhabi continue hold events as a result of increase in recreational and tourism activities. The multicultural activities shape the UAE since of trade and events creates a bigger market for Feathers Fashion products. World Bank (2015) stated that Increase of trading and tourism factions has resulted to rise of population in Abu Dhabi from 2.2 to 2.4 from 2010 to 2013 (seen appendix 1). Population is social force which favors fashion business because in increase the customer base feathers Fashion. As stated earlier, other socio-cultural forces that will continue impacting Feathers’ business consist of attitude and behavior. Molinsky (2007, p.631) stated that when an attitude of a person is formed, it is difficult to shift. This calls for Feathers to design effective marketing communication which will create a positive image about the organization, hence, positive attitude towards its products. This means that once Feathers created an attitude that they offer quality and unique fashion which is better than its competitors such as Alshamsi Holdings, Sara Textile & Apparel Sourcing Fzc and A R Fashion among others; they will probably retain a large customer base (Abdelgalil, 2006). It can also be noted that culture-rooted customer will prefer local when pursuing values such as harmony and loyalty. 4.2 Economic and socio-economic forces A research conducted by Farouk (2014) found that Abu Dhabi is the 9th rising city in the world based Purchasing power parity. In the last decade, UAE had undergone a cycle of growth and drop owing to insufficient policies and reforms. Currently, UAE’s economy of has expanded considerably through oil exploration and business activities. The fashion industry is likely to improve due to events like parties, business conferences and gala nights among others. World Bank (2015) stated that the growth of business has made Abu Dhabi the topmost and wealthiest emirate in United Arab Emirates based on disposable income. Stability of the economy of this country is critical to tourism and event planning sector which Feathers Fashion greatly rely on. Oil exploration and business in the region has increased significantly last five years. Madichie & Blythe (2011, p.595) opined that the exportation of oil has attracted foreign exchange hence improving disposable income of most citizens. Similarly, most of the UAE citizens are employed hence they have income to spend on fashion, shows, performs and jewelries. 4.3 Legal forces Farouk (2014) stated that the technicalities in legal issues which are not properly in UAE could pose severe risks to businesses. The laws have less restriction on foreign business, and it has enabled many foreign companies to enter not only in Dubai but also in Abu Dhabi. The situation is different in the West as strict laws protect local from being overshadowed by foreign companies (Willis, 2008, p.276). As the many market players enter the market, competition in terms of research and development influence customer attraction. In the scramble for market dominance, Feather’ intellectual property may be stolen by the foreign employees or companies because of less clearly defined laws (Kemp & Williams, 2013, p.221). Similarly, the country laws may not protect Feathers Fashion from counterfeiting its products, particularly from their neighbors China which are known to be leading the vice. All these loopholes disadvantage the company from benefiting from its intellectual property. 4.4 Political factors Madichie & Blythe (2011, p.595) the political atmosphere for business operations in UAE is getting better compared to the previous decade (see appendix 2). The UAE’s business climate encouraged starting up of new businesses since the leadership recognizes its importance in the growth of its seven emirates. The trade liberation allowed by the political has facilitated increase of businesses and tourism activities in the recent in Abu Dhabi (Gundala, Jack& Khawaja, 2014, p.31). Feathers Fashion capitalized on the opportunity is poised to improved considerable in the next 10 years. Madichie & Blythe (2011, p.597) contended that the ruler of Abu Dhabi is a known businessman with a great interest in tourism which compliments fashion industry. Even though, the government has open doors for foreign businesses, it still regulate the market to enable the local business thrive and compete with their international counterparts. Understand such policies, was formed as a local company which offers local products, and is performing well since its inception in 2010. Political stability of UAE has been favorable for quite sometimes ensuring that business has the atmosphere they need to grow and expand to other emirates (Gundala, Jack & Khawaja, 2014), p.29. Due to the political stability all over the all country Feathers Fashion is planning to expand its business to other emirate of the UAE including Ras al-Khaimah, Dubai, Umm al-Quwain, Sharjah and Furaijah. 4.5 Labor Forces Over the years, UAE has relied on the cheap foreign to operate its companies and improve economic its growth (Keane, & McGeehan, N008). The population is attributed to slow population growth in last 30 years. The development has attracted numerous criticisms from international community who believes that salary offered by these companies is not sufficient to sustain the workforce. In addition, Keane & McGeehan (2008) stated that the country has been condemned for allowing companies to subject employees to longer hours of work in a poor working environment. Another challenge for labour industry is how to do away with gender equality. In UAE, women are still expected to remain at home and care for children and cock for their husbands (Molinsky, 2007, p.627). This societal has led to few women joining the workforce. Feathers, however, have tried to reduce this stereotype by employing women to work in its stores. The fashion company also allows its workers to join trade unions. Feathers has state-of-the –art store with a positive atmosphere making it suitable for operations. 5.0 Marketing Strategy 5.1 Market Analysis The UAE fashion market comprises of both companies which manufactures and those that sell ready-made apparels, shows and jewelries (Abdelgalil, 2006). For Feathers Fashion, the company purchase already made fashion and modify it to its own brand and which suit its customers. Even though, Feathers Fashion is one of the market players in the UAE fashion industry, they are more established stores both local and international which have been operating over the years. Watkins (2011) contended that some of local competitors in fashion industry include Alshamsi Holdings, Sara Textile & Apparel Sourcing Fzc and A R Fashion while international companies with the presence in the UAE include Calvin Klein, Armani, Gucci and Doir (see appendix 3). The competition does not just come from the West but also from neighboring countries such as China, India, Indonesia, and Thailand. Players in this market majorly sell their products in form of retail of wholesale. The increasing number of players in the market has intensified competition between the local and international companies. Gundala, Jack & Khawaja (2014, p.33) claimed that the competition has seen the UAE fashion market grows to $ 2.1 billion in 2013. Today, the market is worth 3.5 billion and is expected to growth further to $7.8 billion by 2018 representing CAGR worth 5.4% (World Bank, 2015). The industry is also embracing different fashion across the world as globalization continues to intensify. The rising Western culture among the UAE population is influencing the Western-style fashion and clothing trends among the consumers in this country. The change can be seen on how majority of consumers are now more conscious of appearance and fashion selection. To maximize its profits, Feathers Fashion segments its target market using two types of segmentation including demographic and psychographic segmentations. In demographic, the company uses age to segment its market. The company targets male and female customers between the ages of 18 to 50 (Feathers Fashion, 2015). The age encompasses adults who have jobs and can buy their own fashion. In psychographic factors feathers use lifestyle to segment its market. Lifestyle here means pleasure, interest and leisure. According to Feathers Fashion (2015) the companyFeathers offer fashion for men and women who fancy fashion, trends and events. The company targets middle class men and women how have disposable income and can acquire apparel, jewelries to showcase during events such as weddings, summer, and other outings. Even though, Feathers has different prices for its products, it positions itself a low cost company offering a discount of 10% (Feathers Fashion, 2015). It has elaborate and effective marketing strategies using platforms such as billboard, newspapers, magazines, television and online platform which can reach several local and international consumers. However, feather does not have a proper distribution at the moment since its only store it’s at Dalma Mall in Abu Dhabi. 6.0 Competitive Strategy The competition is very stiff in AUE fashion industry as local and international companies scramble for market share. For that reason, every company has devised their strategies to gain competitive advantage. Feathers use Focus, differentiation and cost leadership to gain competitive advantage. 6.1 Focus O’Dwyer, Gilmore, & Carson (2009) argued that this is where the company usually picks its niche markets in which to sell its offer its products. At the moment feathers niche markets is middle class men and women who love fashion ranging from apparel, jewelry and shoes (Feathers Fashion, 2015). The research indicates that middle class is rising so fast in the Middle East due to oil business and tourism. 6.2 Differentiation Kapferer (2012) posited that this is strategy is where a firm differentiates its products, prices, and marketing strategies from those of the competitors. Feathers product are different from other in the market in that they have Arabic touch and peacock feathers coloring. The strategy has enabled it to position itself as the company which offers Middle Eastern and Emirati fashion. 6.3 Cost leadership Feathers Uses cost leadership to improve it’s attract a large customer base who like quality products and at slightly lower prices. It also uses low price to retain customers for a long term relationship. The company a low cost leader by offering 10% discount to its loyal customers. It further provides discounts at the period special occasion like summer to attract large sale volume and increase its profits (Feathers Fashion, 2015). Feathers set its prices lowers in order that consumers can compare with other market players before deciding to purchase. 7.0 Market Entry Strategy Market entry normally bears a great effect on the long survival in the market. Wrong entry strategy can actually leads to an early exit. Feathers intend to enter into foreign market starting with Saudi Arabia in by 2016 (Feathers Fashion, 2015). As a fashion company which is yet to experience foreign market challenge, it advisable for it to use strategic alliance to get into Saudi Arabia, Kuwait, Australia, the US and UK so as to reduce risks. Hitt (2009) argued that strategic has several benefits for a company, including technology exchange, global competition, and economy of scale. Fashion needs comprehensive research so as to determine what can satisfy the needs of the customers. Getting into strategic alliance with technologically established companies such Zara and Gap is an advantage to benefiting from technological prowess to conduct research, development, marketing and sales (Hitt, Ireland & Hoskisson, 2012). Competition is also growing in fashion industry that companies needs to overcome so as to remain successful in their operation. Strategic alliance with established companies can therefore give Feathers an edge to overcoming that competition at the international arena. Getting into strategic alliance with international companies can also help Feathers in reducing cost of setting up a new company and increase economies of scale. 8.0 Human Resources Strategy UAE economic growth has been improved by tourism and international companies getting into this market (Vadakepat, 2013, p.48). However, due to low population growth companies both local and international have been forced to rely on foreign for efficient operations. Today, Feathers Fashion employs both the local and foreign to help serve both local and international fashion consumers. The company uses geocentric approach of international human resource management to run its operations. Sparrow, Brewster & Harris (2004) argued that with this approach, the company hires cultural diverse managers to handle international consumers. This is because globalization is taking place so fast in business platform that managers are now required to have a global mindset. Nevertheless, Feathers also hire local managers and employees because they have more knowledge of the needs of UAE consumers. The competition also extends to employees strategy. Feather understands this critical issue and hire and recruitment foreign employees who have passion and experience for fashion. Even though, Feathers Fashion acquires its employees cheaply, they provide sufficient salary to retain them and avoiding losing them to competitors. The company also has adopted effective work-life balance strategy to keep its workforce healthy, free of stress and motivated for positive performance (Feathers Fashion, 2015). The fashion company involves it employees in key decisions affecting their lives such salary and promotion. 10.0 Conclusion Fashion industry remain a key sector in UAE since it employees citizens and contributes to its GDP. To enable this sector improve, the government has create a positive climate for tourism, event planning and general business. The climate facilitated the establishment of Feathers Fashion in 2010 in Abu Dhabi, and has continued to growth. The company is of its kind because it the first offering Emirati and Arab touch fashion with few imported ones. The company has various competitive strategies including focus, differentiation, cost leadership and human resource strategies to gain competitive. However, the paper has found the less regulation and poorly constructed laws has allowed many foreign company to make entry into UAE and now threatening the survival of local companies like Feathers Fashion. Therefore, the paper recommends that for Feather to realize its stated objectives and beat the competition, it must always be innovative. 11.0 References Abdelgalil, E. (2006). Future of UAE Textile Industry under Liberalization. Dubai Chamber – Data Management & Business Research Dubai Chronicle (2012). Abu Dhabi remains dedicated to diversification of local economy. Dubai Chronicle Farouk, H. (2014). Doing business in the United Arab Emirates. Thornton Grant UAE Feathers Fashion. (2015). Feathers Fashion Official Website. Retrieved on 29th April 2015 from http://www.feathers-fashion.com/ Ghodeswar, B. (2008). Building Brand Identity in Competitive Markets: A Conceptual Model. Product and Management, 17(1), 4-12. Gundala, R.R., Jack , A.L., & Khawaja, H. (2014). Brand management in small and medium enterprise: evidence from Dubai, UAE. Global Journal of Business Research, 8(1), 27-38 Hitt, A. (2009). Strategic Management Competitiveness and Globalization. Nelson Education Ltd Hitt, M.A., Ireland, R.D., & Hoskisson, R.E.(2012). Strategic Management: Concepts and Cases: Competitiveness and Globalization (10th Ed.). Cengage Learning Hofstede, G. (2001). Culture's consequences: comparing values, behaviors, institutions and organizations across nations. Thousand Oaks, CA: Sage Publications. Kapferer, J.N. (2012). Strategic Brand Management, 5th ed., London; Kogan Page Kemp, L.G., & Williams, P. (2013). In their own time and space: Meeting behaviour in the Gulf Arab workplace. International Journal of Cross-Cultural Management, 13(2): 215-235. Keane, D., & McGeehan, N. (2008). Enforcing Migrant Workers' Rights in the United Arab Emirates. International Journal on Minority and Group Rights 15, 81 Madichie, N.O., & Blythe, J. (2011). The “bold and the beautiful” of the UAE retail environment. Marketing Intelligence & Planning, 29(6), 593 – 601 Molinsky, A. (2007). Cross-cultural code-switching: The psychological challenges of adapting behavior in foreign cultural interactions. The Academy of Management Review, 32(2), 622–640 O’Dwyer, M., Gilmore, A., & Carson, P. (2009). Commentary: Innovative Marketing in SMEs. Marketing, 43(1-2), 46-61. Sparrow, P., Brewster, C., & Harris, H. (2004) Globalizing Human Resource Management. London, Routledge Vadakepat, V.M. (2013). Multi-culture consumer behavior in the Abu Dhabi markets. Business and Society: Contemporary Middle Eastern Issues, 6(1), 42 – 54 Watkins, W. (2011). Doing Business in the United Arab Emirates. 29th April 2015 from http://www.lw.com/upload/pubcontent/_pdf/pub2783_1.pdf Willis, M. (2008). Shopping East and Shopping West - Chinese Consumer Behavior in Two Worlds. Journal of East-West Business, 14(3), 271 – 298 World Bank. (2015) Doing Business 2015 Going Beyond Efficiency: United Arab Emirate Economy Profile 2015United Arab Emirates. World Bank Group. Retrieved on 29th April 2015 from http://www.doingbusiness.org/~/media/giawb/doing%20business/documents/profiles/country/ARE.pdf 12.0 Appendix Appendix 1: population trend (Source: World Bank, 2015) Appendix 2: favorability of business environment Source: (Farouk, 2014) Appendix 3: popular international brands Source: (Madichie & Blythe, 2011) Read More