Patrick Bousquet-Chavanne had two big reasons to celebrate Sunday: France’s victory in the World Cup, and his being named chief executive officer of Emaar Malls, the operator of the Dubai Mall, the world’s largest.
“It is amazing how good things don’t only come in singles,” Bousquet-Chavanne said, hoarse from shouting over France’s 4-2 victory over Croatia — the country’s second World Cup title.
His appointment was revealed Sunday in a filing by Emaar Malls to the Dubai Financial Market. Bousquet-Chavanne will assume his new role in early August and he succeeds Nasser Rafi, who according to reports in the Middle East is leaving to take up another, yet-to-be-revealed position with Emaar.
Bousquet-Chavanne is joining Emaar from Marks & Spencer plc in London, where he has held various roles over the last six years including, most recently, as executive director of customer, marketing and Marksandspencer.com. Prior to joining M&S in 2012, he was co-chairman of Yoostar Entertainment Group in New York and, before that, served as group president of specialty brands and designer fragrances at The Estée Lauder Cos. Inc.
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It is Bousquet-Chavanne’s digital experience at M&S, though, that he believes will be most applicable to his new job at Emaar. “It is an amazing company and it is clearly a growth area; Emaar Malls is clearly one of the best mall operators in the world,” Bousquet-Chavanne told WWD in an exclusive interview about what attracted him to the position. “The Middle East is transforming.”
While e-commerce currently has relatively low penetration in the region, Bousquet-Chavanne believes it is set for explosive growth. “Mall operators all have to realize the change taking place and of the context being seen in the U.S. and the U.K. now taking place in continental Europe that will soon sweep over the Middle East. Because of what I have done at M&S, I understand this transformation and can guide Emaar in this digital direction.”
Emaar already has begun moving in a digital direction, last November acquiring a 51 percent stake in e-commerce fashion web site Namshi for $151 million. The site also will fall under Bousquet-Chavanne’s management and he said it already has signed 700 brands in the region.
He believes Emaar’s strength in brick-and-mortar — and Middle Eastern consumers’ continuing eagerness to visit malls for entertainment, experiences and shopping — will enable the group to rapidly expand in e-commerce. “The brick-and-mortar culture there is a good thing,” he said. “Emaar is a customer-centric operator of physical retail” and can now bring that culture online. “It is integrating those two worlds, which is what I have done at M&S for the last six years.”
Emaar operates four malls and 30 community shopping centers and other retail in the United Arab Emirates, including super-regional malls such as the Dubai Mall; regional malls such as the Dubai Marina Mall; community integrated retail, and specialty retail. It is 88 percent owned by Emaar Properties.