Interview: Chairman of Amouage
2024 has been a defining year for Amouage, the world-renowned Omani High Perfumery House. In this exclusive interview, Sayyid Khalid bin Hamad Al Busaidi, Chairman of Amouage reflects on the key drivers behind its 2024 achievements, sharing his vision for the brand's future and unveiling a strategic partnership set to shape the next chapter in the House's journey.
Q1: Amouage has continued to make significant strides in the luxury fragrance industry. How would you describe the brand's performance in 2024, and what does it mean for its future?
2024 was a remarkable year for Amouage and I am proud to share that for the first time in our four-decade history, our retail sales have surpassed $260 million, a 30% increase year-over-year. The demand for Amouage products was 2.5 times higher than the average of all luxury brands. These numbers tell more than just a financial story; they reflect the growing global appreciation for what Amouage represents – excellence in craftsmanship, authenticity, and a deep respect for Oman's heritage.
For me, this milestone is very personal. It reaffirms that a House born in Oman, inspired by its rich culture and natural treasures, can resonate with audiences worldwide without ever compromising its identity.
Beyond the numbers, this success fuels our vision for the future, highlighting the universal appreciation for artistry and the growing desire for authentic, meaningful luxury experiences. Today, the industry sees Amouage as the trend-setters of High Perfumery, however the potential for House is far greater.
Q2: What factors, in your opinion, contributed to Amouage's exceptional growth in 2024?
Amouage's exceptional growth in 2024 is the result of a well-designed and thoughtful approach that balances strategic expansion with a respect for the values that define us. We recognised early on that our clients appreciated more than just our fragrances. They loved the connections we created, craved the authenticity we represented, whether in our creative process or stories, and valued our personalised experiences. This understanding shaped how we approached both our geographic and digital growth.
Our expansion into key markets like the Americas, with flagship boutiques in SoHo and at the American Dream Mall, was not just about establishing a presence in iconic locations, it was about creating immersive spaces that allow clients to experience Amouage in its fullest expression. Similarly, in Oman, we were able to grow by 33% – a result of our continuous drive to innovate through new boutique openings including Sohar, and with concepts like our in-hotel Petite Boutique at the Mandarin Oriental, Muscat, which offer a fresh lens on the Amouage experience.
The surge in online sales by 54% and the remarkable growth in travel retail reflect our ability to adapt to shifting consumer behaviors while maintaining the integrity of our experiences. What unites all these channels – whether physical or digital – is a consistent dedication to a unique storytelling, craftsmanship, and delivering an unparalleled customer experience, all linking back to our roots: Oman.
Q3: As Amouage navigates its impressive growth, what strategic steps are being taken to ensure the brand continues to thrive globally?
Amouage is recognized as a jewel in the industry, one of the most desired brands in the category with a talented trailblazer team. We have identified several areas of growth feeding the global expansion of the House, which include expanding our production capabilities in Oman and developing our headquarter location in Muscat, as well as growing our boutiques footprint in key tier 1 cities, investing into back-end supply chain and identifying new opportunities to support local communities.
As we expand globally, we are committed to bringing a piece of Oman to the world. We have recently received a long-term minority investment from the world's leading beauty player, L'Oréal Groupe, that identified Amouage as the House pushing the boundaries to redefine the beauty of tomorrow and reinvent the global beauty value chain. This is a testament to the global recognition of the House and the remarkable growth we've achieved over the recent years.
Amouage remains an independent House contributing to the goals and ambitions of Oman's Vision 2040. The strategic investment from L'Oréal Groupe will grow our economic impact by expanding our production capabilities within Oman, accelerating our global footprint, and building-on our export potential; all while ensuring that value creation is firmly rooted in the Sultanate. In fact, this is the first Foreign Direct Investment from a global category leader into Oman's fragrance and beauty sector.
Our commitment to sustainable development is equally paramount. Our aim is to advance the preservation and responsible sourcing of Oman's natural treasures, such as Royal Frankincense from Wadi Dawkah. This includes pioneering initiatives like the GCC's first smart forest, adopting cutting-edge technologies and blockchain-enabled traceability, as well as fostering a culture of circular economy through renewable energy and eco-conscious practices.
Most importantly, we will be able to create new opportunities for Omani talents. Through job creation, skills enhancement, and partnerships with local institutions, Amouage will continue to play a pivotal role in shaping the future of Oman's creative industries.
Q4: How will this new partnership impact Amouage's operations, creative direction, and global expansion plans?
Amouage will continue to operate as an independent Omani House, with full control over our creative direction, operations, and the uncompromising craftsmanship that has become synonymous with the House.
From a creative standpoint, Amouage will chart its own artistic course. Our commitment to crafting fragrances that represent the richness of Omani culture and heritage remains unwavering. The creative direction will stay under the stewardship of our in-house team, ensuring that each creation tells a story deeply rooted in authenticity, artistry, and craftsmanship. Alignment
The funds will enable us to enter new markets with mono brand boutiques, connecting personally with our clients around the world. However, growth for us is not simply about scale; it's about depth and resonance. Every step we take, every market we enter, will be guided by our core values, ensuring that Amouage continues to represent not just luxury, but a timeless connection to Oman and the artistry of perfumery.
Q5: Looking ahead, what is Amouage's vision for the future?
Our vision remains rooted in Oman's heritage with an ambitious focus on global growth and innovation. We see ourselves as custodians of Oman's natural treasures – whether it's through the responsible sourcing of Royal Frankincense from Dhofar or fostering sustainable rose farming practices in Jabal Akhdar. Amouage's future will continue to interconnect olfactive experiences with Oman rich cultural narrative while embracing opportunities that will push the boundaries of perfumery through transparency, authenticity, responsibility, instantaneity, to offer the best of perfumery to discerned clients around the world.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Observer
8 hours ago
- Observer
Dhofar gears up for khareef with 100 tourist sites, 7,300 rooms
SALALAH, June 7 Dhofar Governorate is gearing up for its signature tourism season with a marked increase in hospitality capacity, as the number of licensed establishments reaches 100, offering 7,300 rooms, the Directorate General of Heritage and Tourism has confirmed. The expansion — driven by new hotel openings in Salalah, Taqah and Mirbat — is part of wider preparations for Khareef 2025, a key period for tourism in Oman. 'This capacity growth reflects our strategic focus on readiness and service excellence,' said Abdullah bin Omar al Sabbah Baaboud, Assistant Director of the Promotion Department in Dhofar. The Ministry of Heritage and Tourism, he noted, is working in tandem with stakeholders to upgrade tourism infrastructure and attract further investment into the hospitality sector. These efforts align with Oman Vision 2040, which positions tourism as a vital contributor to economic diversification and local development. According to official data, Dhofar welcomed 1.048 million visitors during the Khareef 2024 season, a 9 per cent year-on-year increase. Omani visitors surged by 70.1 per cent to over 734,500, while Gulf visitors rose 16.9 per cent, reaching nearly 177,000. Visitors from other Arab nations also posted a modest increase of 3.6 per cent. By end-2024, Dhofar had 83 licensed hotel properties offering 6,537 rooms. The additional supply — set to reach 100 hotels by summer 2025 — aims to meet rising demand and expand accommodation options for a diverse visitor base. The 2024 season also featured a significantly extended calendar of events, running for 90 consecutive days. Activities ranged from cultural showcases and family entertainment to sporting attractions such as the Salalah International Cycling Tour, drawing broad audience engagement across the governorate. The ministry implemented targeted marketing campaigns, participated in international travel exhibitions; and organised media and trade familiarisation trips. Social media outreach also intensified, partnering with regional influencers to reinforce Dhofar's profile as a leading monsoon destination. Officials expect further growth in visitor arrivals over the coming seasons, supported by continuous infrastructure upgrades and broader investment in tourism services. With Khareef tourism now a centrepiece of Dhofar's economic strategy, the governorate is on track to solidify its standing as a premier destination in the Arabian Peninsula.
Observer
13 hours ago
- Observer
IMF backs Oman's reforms, warns of global risks
A recent visit by a staff team from the International Monetary Fund (IMF), held in Muscat from May 21 to 29, 2025, has provided a timely and comprehensive assessment of Oman's macroeconomic trajectory. Led by César Serra, the mission engaged with national authorities on key developments, fiscal performance, structural reforms and medium-term outlooks. The statement issued at the end of the visit presents a cautiously optimistic picture of Oman's economy — one marked by resilience, reform and prudent policymaking — while also highlighting emerging risks that require close attention. According to the IMF, Oman's real GDP expanded by 1.7 per cent in 2024, up from 1.2 per cent the previous year. This growth was achieved despite reduced hydrocarbon output, in line with Opec+ production curbs. The performance reflects strong non-oil sector activity — especially in manufacturing, logistics, tourism and services — all core areas targeted under Oman Vision 2040's diversification agenda. Looking ahead, GDP growth is forecast to accelerate to 2.4 per cent in 2025 and 3.7 per cent in 2026, supported by the expected phase-out of production limits and sustained investment in strategic sectors. Inflation remains well contained, registering 0.9 per cent year-on-year during January–April 2025, providing a stable environment for consumers and investors alike. The IMF notes that Oman's fiscal surplus stood at 3.3 per cent of GDP in 2024, although this figure was slightly lower than earlier estimates due to accelerated public investment in infrastructure, health, education and water services. In parallel, Energy Development Oman (EDO) redirected a portion of its dividend payments to long-term investment, further contributing to the temporary narrowing of fiscal space. Over the short term, the fiscal surplus is projected to moderate to an average of 0.5 per cent of GDP during 2025–2026, before recovering in the medium term as oil output increases and reform measures take hold. Importantly, Oman continues to make significant progress in public debt reduction. Central government debt declined to 35.5 per cent of GDP in 2024, down from 37.5 per cent the previous year. State-owned enterprise (SOE) debt also fell to approximately 31 per cent of GDP, reflecting continued progress on governance and operational reform under the Oman Investment Authority. Oman's current account posted a surplus of 2.2 per cent of GDP in 2024 but is expected to shift into a moderate deficit of around 2 per cent of GDP during 2025–2026, due to softer oil prices and more subdued non-oil export growth. Nonetheless, the IMF expects a return to surplus thereafter, contingent on higher oil production and stronger trade performance. On the financial front, the banking sector remains robust. Omani banks are well-capitalised, profitable, and maintain strong liquidity positions. The sector continues to support private sector credit growth, backed by an expanding deposit base and a positive net foreign asset position. The IMF report underscores that structural reforms are advancing across multiple fronts. The Tax Authority is implementing its Tax Administration Modernisation Programme, the Central Bank of Oman is refining its liquidity management framework, and efforts are underway to expand access to finance through a well-structured financial development agenda. One of the most significant milestones is the operational launch of Future Fund Oman, a new investment platform designed to mobilise private capital into key economic sectors. Several projects have already been approved, and substantial co-investment from the private sector has been secured. Simultaneously, Oman is intensifying its efforts in renewable energy, particularly green hydrogen. These initiatives are vital for future energy security, export diversification and industrial development. The finalisation of the 11th Five-Year Development Plan (2026–2030) — framed under the objectives of Vision 2040 — is expected to play a critical role in consolidating these reform gains and accelerating economic diversification. Despite a broadly favourable outlook, the IMF warns of downside risks. Geopolitical tensions, global trade disruptions and prolonged weakness in oil prices could all undermine fiscal and external stability. Furthermore, elevated global interest rates could raise borrowing costs and dampen private investment, particularly if hydrocarbon revenues soften. To mitigate these risks, the IMF recommends that Oman sustain its current reform momentum, enhance private sector participation and continue building fiscal buffers. Policy consistency and timely implementation will be essential to navigating this uncertain landscape. The IMF's mission affirms that Oman has made tangible progress in strengthening its economic fundamentals. Growth is returning, inflation is low, debt is declining and reforms are deepening. The economy is now better positioned to respond to external shocks and capitalise on long-term opportunities. As Oman prepares to launch its next development cycle, the focus must remain on execution. Maintaining investor confidence, advancing green energy initiatives and ensuring inclusive growth will be critical to achieving Vision 2040's long-term goals. Oman's economic strategy is evolving with purpose. The challenge now is to maintain momentum, institutionalise reform, and drive the transition from a hydrocarbon-dependent model to a resilient, diversified and sustainable economy.
Observer
a day ago
- Observer
Pact to advance urban air mobility in Oman
MUSCAT, JUNE 6 AeroVecto, an Oman-based startup specialising in sustainable air mobility solutions, has announced a strategic partnership with Romanian-based LYNEports, a digital planning platform for advanced air mobility infrastructure, to support the rollout of hybrid electric Vertical Take-Off and Landing (VTOL) aviation services in Oman and the wider GCC region. The partnership is set to take advanced air mobility services, currently in its nascency in Oman, to the next level. A number of Omani startups, in partnership with key players in the global international, are gearing up to introduce uncrewed air mobility services for, among other fields, cargo deliveries, passenger transportation, ambulance services, medical deliveries and even disaster relief. AeroVecto is credited with developing Shuttle, a hybrid eVTOL aircraft purposely built for mass public transportation. According to the company, the high-capacity aircraft will enhance current ground-based public transport by enabling convenient point-to-point travel. With a focus on passenger volume and comfort, Shuttle aims to revolutionise urban and intercity mobility, introducing a new era of clean, efficient and scalable air transport. Through the partnership, LYNEports will assist in planning and simulating AeroVecto's Shuttle network, ensuring each site meets aviation-grade safety standards, operational viability and regulatory requirements. Furthermore, by leveraging LYNEports' AI-driven platform, AeroVecto can evaluate ideal locations, model flight routes and visualise integrated transport systems, accelerating the adoption of advanced air mobility across Oman. 'At AeroVecto, our vision is to make high-capacity aerial commuting a practical reality for cities across the region. We are excited to partner with LYNEports to advance vertiport planning and route optimisation of the Shuttle network, enabling efficient urban air transport for the masses,' said Fahad al Riyami, CEO of AeroVecto, in a statement. 'We're excited to support AeroVecto in bringing their innovative vision to life,' said Rasha Alshami, CEO of LYNEports. 'Their commitment to solving real public transport challenges in the region aligns perfectly with our mission to make AAM infrastructure accessible, safe and well-planned from day one.' AeroVecto's vision extends beyond aircraft development; the company is also designing "Shuttle Hubs" — dedicated vertiports strategically located in urban centres, coastal areas and atop buildings to facilitate seamless boarding and integration with existing transport networks. The Shuttle platform includes variants for cargo delivery, emergency response and premium travel, showcasing its versatility across sectors. Oman is making significant strides in developing its Advanced Air Mobility (AAM) sector, aligning with the Oman Vision 2040 goals for sustainable and smart transportation. The Ministry of Transport, Communications and Information Technology (MoTCIT) has initiated the formulation of a national AAM strategy. This strategy focuses on integrating drones and electric vertical takeoff and landing (eVTOL) aircraft into urban transport systems to alleviate congestion and enhance connectivity. Last July, Oman's national passenger transportation company Mwasalat announced a partnership with US VTOL aircraft manufacturer Odys Aviation to support the development of Aerial Logistics Programmes in the GCC based on the latter's hybrid-electric VTOL aircraft, Laila. Additionally, with the goal of supporting workforce development linked to this emerging sector, a leading college in Muscat has announced a partnership with aircraft maker Boeing to launch the an Air Taxis and Advanced Air Mobility programme designed to provide undergraduate aviation students with opportunities for research, curriculum enrichment and participation in business challenges related to urban air mobility. Together with regulatory support from the Civil Aviation Authority (CAA) and other stakeholder agencies, these developments underscore Oman's ambitions to become a regional leader in advanced air mobility. HIGHLIGHTS Oman is making significant strides in developing its Advanced Air Mobility (AAM) sector, aligning with the Oman Vision 2040 goals for sustainable and smart transportation
