Latest news with #Alvarez&Marsal
Muscat Daily
5 days ago
- Business
- Muscat Daily
Omani British Society hosts workshop on advancing sultanate's food security
Muscat – The Omani British Society hosted a workshop on Wednesday titled 'Harvesting Oman's Resilience: Advancing Food Security Through Innovation'. The event brought together a diverse group of experts from Oman and the UK – including government officials, agri-tech pioneers, policy strategists, and business leaders – to explore innovative solutions to the sultanate's food security challenges. Saleh Zakwani, Chairman of the Omani British Society, stated that the workshop reflects the Omani British Society's commitment to facilitating dialogue on issues of strategic national importance. 'Food security is a key component of Oman's long-term vision, with a clear goal of increasing self-sufficiency and building a resilient, sustainable food system. By bringing together experts, policymakers, and industry leaders, we aim to support the national agenda through collaboration and knowledge exchange. We are proud to serve as a platform for these vital conversations that shape Oman's future.' In addition to individual presentations, the workshop featured a dynamic panel discussion with five distinguished participants. The panel comprised Andrea Di Lello, Senior Director, Alvarez & Marsal; Eng Asma al Hinai, Manager of the Oman Vision 2040 Office at the Ministry of Agriculture, Fisheries and Water Resources; Edward Gilbert, Regional Agriculture and Food Counsellor for the Gulf, British Embassy Riyadh; Sameer Ul Haque, Chief Investment Officer, Tawoos Group; and Shepard (Colie) Spink, Managing Director, Alvarez & Marsal. The engaging panel discussion was moderated by Jesal Asher Rajda, Executive Director, Al Ansari Group. Panellists shared insights into the complex challenges facing Oman's food systems – from water scarcity to supply chain optimisation and investment in agri-tech. Eng Asma al Hinai shared updates on the government's ongoing efforts and strategic initiatives to strengthen national food security, attract investment, and increase self-sufficiency in key food commodities. She noted that, as part of its Vision 2040 objectives, the Ministry of Agriculture, Fisheries and Water Resources adopted Food Security Labs as a core mechanism to implement its five-year plan. 'The outcome of the first phase, launched in 2021, has already resulted in over 340 investment projects across the agriculture, fisheries, and water resources sectors. We are currently preparing for the final session of the Food Security Lab in October this year to conclude the first phase.' These Food Security Labs, she said, are aligned with the pillars of Oman Vision 2040. More than 40 enabling initiatives have also been launched to support long-term sustainability and investor confidence in the agriculture sector. Eng Asma also highlighted the ministry's support for entrepreneurs and investors through a range of incentive packages. She emphasised Oman's strategic focus on increasing production of food commodities where self-sufficiency is currently below 75%. 'We have established a National Food Basket that includes 25 commodities across eight food crop categories. These strategic crops are the focus of a national plan to raise sufficiency levels to at least 75% by 2028.' 'To guide these efforts, we developed a comprehensive investment map, which analyses crop composition, soil texture, and groundwater availability across Oman's governorates. This will help optimise agricultural production based on regional strengths.' Looking beyond primary production, Eng Asma said that the ministry is also working to enhance value-added processing capabilities for various food commodities. Success stories include Oman's growing industries in date processing, fish canning, and dairy by-products – many of which have already surpassed 75% self-sufficiency due to domestic value addition. Haifa al Khaifi, General Secretary of the Omani British Society, expressed deep appreciation for the insightful dialogue held during the workshop. She said, 'Under the esteemed leadership of His Majesty Sultan Haitham bin Tarik, Oman has charted a clear path towards sustainable agricultural development. Convening experts from both Oman and the UK – from government officials to agri-tech pioneers – demonstrated the power of collaboration, innovation, and strategic investment in bolstering national food security.' She acknowledged the critical role of public–private partnerships, the water–energy–food nexus, and coordinated supply–demand planning, and extended gratitude to all speakers, partners, and attendees for their valuable contributions.
AU Financial Review
29-05-2025
- Business
- AU Financial Review
How an ‘unusual director' rose to the boardroom at age 32
Bridget Loudon-Harris says she is an 'unusual director', whose appointment to the Telstra board ruffled feathers with some institutional investors. On Thursday night she was named winner of the Alvarez & Marsal award in the inaugural Financial Review BOSS Director Awards. The special award is for leaders whose values and actions clearly align with Alvarez & Marsal's principles and positioning, which emphasises leadership, action and results.
Time of India
29-05-2025
- Automotive
- Time of India
UP has maximum number of registered EVs
Uttar Pradesh has maximum number of registered electric vehicles in the country at 4.14 lakh, surpassing even Delhi and Maharashtra, an official statement said on Wednesday. While Delhi has 1.83 lakh registered EVs, Maharashtra has 1.79 lakh. Uttar Pradesh has also emerged as the biggest beneficiary of the Centre's FAME I and FAME II (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India) schemes, further bolstering its e-mobility efforts, according to the statement. The Yogi Adityanath government launched the Electric Vehicle Manufacturing and Mobility Policy 2022, aimed at accelerating EV adoption, and building a robust charging infrastructure. This has helped establishing Uttar Pradesh as a global hub for EV and battery manufacturing. "The policy aims to attract an investment inflow of Rs 30,000 crore and create 10 lakh jobs, setting the stage for transformative growth in the state's electric vehicle (EV) ecosystem," the statement said. "A key driver of this momentum is the widespread popularity of e-rickshaws, which now account for 85 per cent of electric vehicle (EV) sales in the state. These vehicles have proven highly effective for passenger and goods transport, particularly in urban areas," it added. In line with its focus on infrastructure, the UP government said it has recently approved the installation of over 300 new EV charging stations across 16 municipal bodies. "Ayodhya, a rapidly growing tourist destination, is expected to see the highest number of new charging points. India has around 33,000 EV chargers, of which 35 per cent are fast chargers. Given the rising demand, Chief Minister Yogi Adityanath has prioritised the development of additional fast-charging stations and the upgrading of existing facilities," it said. Projections suggest that India could have 102 million EVs by 2030. The current EV-to-public-charger ratio in India stands at 135, far above the global ideal of 6 to 20, as per a study by Alvarez & Marsal.
Al Etihad
25-05-2025
- Business
- Al Etihad
UAE emerging as a major hub for wealth management professionals: Expert
25 May 2025 23:15 MAYS IBRAHIM (ABU DHABI)A growing affluent population, tech-driven financial services, and forward-looking policies are propelling the UAE towards becoming a leading regional wealth hub, according to global professional services firm Alvarez & Marsal (A&M)."Over the past five years, the UAE has witnessed a significant influx of skilled professionals, driven by its progressive stance on long-term residency, including initiatives like the Golden Visa, in addition to strategic investments in technological innovation," Pierre Legrand, Financial Services Digital Leader for EMEA at A&M, told Aletihad. These individuals are driving the rise of a digitally savvy, upper-mass affluent demographic, seeking more seamless, digital engagement with financial services providers. "This represents an incredible opportunity for traditional banks and neo players to capture a profitable segment that is looking to grow their wealth through properties, diversified investments, and a range of lifestyle services tailored to their needs," added Legrand."Banks that are ready to move decisively will be able to tap into a new mass affluent segment that is willing to pay for value-added services that support their financial aspirations."The UAE's regulatory environment is also playing a pivotal role as a growth catalyst by attracting investments and talent. According to Legrand, initiatives such as free zones, competitive taxation, and substantial government investment in digital assets and AI are creating fertile ground for fintech and digital wealth platforms. "This combination of regulatory flexibility and forward-looking investment allows fintech firms to thrive and lays a strong foundation for the growth of digital wealth management," he said."Firms investing in these segments will be well placed to capitalise on access to these new technologies to better align with their clients' growing needs in the region." A key development transforming the sector is the rise of AI-powered tools, according to Legend. He explained how relationship managers, once focused mainly on onboarding and financial planning, are now equipped with intelligent systems that detect customer "moments of truth" such as changes in spending patterns or life events like a job change. "New technologies will allow advisors to more robustly engage with customers in 'real life'. This dynamic approach will enable course corrections and tailored opportunities to enhance clients' wealth in a way that works for them and when they need it most - whether that's through digital tools or face-to-face," he agentic AI driving greater access, the mass affluent segment represents today's most dynamic opportunity for growth, Legend said. "This segment is digitally savvy, highly responsive, and profitable if engaged on their terms, which means delivering experiences with the same convenience and personalisation as found in consumer-level digital interactions [e.g. tailored content - Netflix, Spotify, YouTube]," he explained. He believes that firms that can integrate personal data with lifestyle and financial goals to create a 'family office in your pocket' will win this market. Whether traditional financial institutions remain competitive or not will rely on their ability to transition their technological architecture to support new, customer-centric services within a digital service model, Legend added. "Currently, banks service mass affluent customers through undifferentiated mass retail platforms that offer little personalisation," he explained. "In the future, a key competitive differentiator will be a bank's ability to embed more advanced personal financial management (PFM) capabilities, and open banking for a more holistic view of assets, and agentic guidance based on assessing clients' transaction data."Even as technology transforms the mechanics of wealth management, Legend maintains that the human element will remain indispensable. "Services like financial planning and investment modelling can be effectively handled by agentic solutions," he said."However, taking a final decision on a mortgage for an investment property, or moving to a self-managed pension, are high-stakes decisions that would benefit immensely from human help. Mass affluent users, in particular, will want to use digital tools like in-app video to engage with their relationship manager at the right moment in this journey."Looking ahead, Legrand said that the defining competitive advantage that will differentiate financial services players in the market will be a "relentless focus" on the customer journey. Success will depend on delivering a seamless 80/20 hybrid experience - digital first, with strategic human touchpoints, he added.
Business of Fashion
16-05-2025
- Business
- Business of Fashion
The Tactics Small Brands Are Using to Navigate Tariffs
Since Donald Trump announced his sweeping tariffs last month, Stockholm-based label Lisa Yang has been moving quickly to incorporate its business in the US. For chief executive Samuel Stenberg, the rationale is clear: Instead of sending its luxury knitwear from China's Inner Mongolia, where it's produced, to the brand's international fulfillment centre in Belgium and then shipping it to the US, it could import goods directly into the US market. That way, it would only be charged customs duties on the price it paid for the goods, rather than the value they sell for in the European market, without the need for complicated paperwork to prove the original cost. Even with the tariff on China, reduced to 30 percent on Monday, it would be more cost effective. 'We avoided it before because there wasn't a clear business case,' Stenberg said of setting up an entity in the US, which accounts for 20 percent of the brand's sales. 'Now, there is.' The US accounts for 20 percent of Lisa Yang's sales (SS25) (Lisa Yang) Trump's on-again, off-again tariffs — the most severe of which are, for now at least, on pause — have caused chaos for companies across the fashion industry, but smaller, independent brands with a high percentage of customers stateside and production outside the country are particularly vulnerable to these changing policies. They're less likely to have diversified supply chains that allow them to shift production to locations with lower tariffs, and less likely to have the scale and cash flow to easily absorb higher costs. Many operate on shoe-string budgets and low margins already. To navigate the turmoil, small brands are turning to different solutions, such as finding measures to reduce their duties, looking to markets other than the US, devising ways to make price increases more palatable to shoppers or just bearing the costs to avoid losing sales. 'Independent brands need to be decisively modeling different pricing and supply chain scenarios,' said Joanna Rangarajan, managing director at Alvarez & Marsal's Consumer and Retail Group. 'You can't afford to be reactive.' Finding Solutions For Miista, which was founded in London and does its manufacturing in Spain and Portugal, maintaining a strong presence in the US despite the tariffs is non-negotiable. It gets over 40 percent of its revenue from the market. Currently it's focused on expanding its US warehousing operations. 'We're trying to move fulfillment to the US to avoid surprise duties,' said Pablo Villasenín Sánchez, Miista's director of business development. 'The uncertainty is just too great.' London/Spain based Miista gets over 40 percent of its revenue from the US market. (Miista) It isn't just the US tariffs Miista has had to worry about. The brand had planned a pop-up in Toronto that it was going to stock with inventory from its New York store, but in March, Canada implemented a 25 percent levy on US goods in response to Trump's tariffs. The brand decided to go ahead with the pop-up anyway and eat the costs, sacrificing profit for the sake of connecting with customers. (While Canada announced a six-month exemption for many US goods, the retaliatory tariff remains in place on clothing and cosmetics.) One of the first courses of action taken by handbag brand Freja NYC, which manufactures in China and sells 85 percent of its inventory in the US, was to start front-loading inventory. Even before Trump announced his so-called Liberation Day tariffs, many companies had begun ramping up imports in preparation for some level of duties. That urgency only increased after Trump revealed tariffs far higher than analysts expected and then offered a 90-day pause for all countries except China that's set to expire in July. 'We have stock in our US warehouse until Black Friday,' said Freja NYC founder Jenny Lei. Freja NYC founder Jenny Lei at the factory in Guangzhou, China. (Freja NYC) Companies are seeking ways to cut other costs not related to the tariffs. Denim-focused New York menswear brand 3sixteen has switched from in-person team meetings that require travel to holding virtual calls instead and opted out of hiring pricey props for photoshoots. Co-owner Andrew Chen said the situation has forced the brand to get more creative. Rigorous cost mitigation is where Rangarajan said many brands should be focused. 'You need to re-forecast over a two-year horizon,' she said. 'Reassess your cost structure, protect your margin and, most importantly, protect your customer. Once they leave, it's so hard to get them back.' The Pricing Question Like every brand in its position, 3sixteen is also having to decide whether or not to raise prices. The company is among those that actually manufacture in the US, but its flagship denim is woven in Japan, with other components sourced from Turkey and China. For now, it has chosen to absorb the tariffs — and the hit to its margins — rather than pass the cost on to customers. 65 percent of 3sixteen's business is denim, woven at the Kuroki factory in Japan. (3sixteen) Top luxury names may have less price-conscious clientele that won't balk at price increases, but many smaller brands don't have that benefit, particularly in the affordable luxury category. 'Price point is so important,' said Lei. 'Freja is that option for young women who are in school or graduating, want a new bag but are not going to be dropping $2k on it.' Lei intends to hold out on hiking prices as long as possible, but if she has to give in, she said she plans to offer customers something along with the increase, 'like new, elevated packaging.' Giving shoppers some sort of value in exchange for their extra dollars is critical for many smaller brands, according to Alvarez & Marsal's Rangarajan. Shoppers notice price hikes, so brands should aim to improve their products to match and communicate clearly why prices are going up. Short-term margin focus often can't — and shouldn't — be the most important thing. 'In some cases, it makes sense to sacrifice margin points for market share. What you lose in margin can be gained by acquiring more customers at your price point,' said Rangarajan. For Lisa Yang, price increases would depend on the extent of the tariff. The brand sells cashmere pieces that can range from around $500 to more than $1,000. If its products were hit with a tariff of, say, 50 percent, prices would likely have to go up, according to CEO Stenberg. It's lucky in that it believes its customers would accept price hikes — up to a point. 'With our positioning, a 10 percent price increase should be doable. Higher than 20 percent would be too high,' said Stenberg. Beyond the US As important as the US market is, brands are concluding that they might find better opportunities elsewhere for the moment. 'If tariffs force us to shrink our US exposure, so be it,' Stenberg said. Even though 3sixteen already makes about half its goods in the US, Chen ruled out the idea of moving more production to the US. (3sixteen) Miista, whose urban aesthetic already resonates in cities around Europe, is looking to leverage growing interest in markets like Australia. Lei of Freja NYC is setting her sights abroad, too. 'The Middle East, especially the Emirates, have been good for us and we'll expand there,' she said. 'Same goes for Canada, Australia, Hong Kong and Singapore' To Rangarajan, expanding to other countries makes the most sense if brands have already established some sales base in the markets they're targeting. Just starting now could prove difficult. Still, for many small brands, looking to other markets may be a more reasonable option than moving production to countries with lower tariffs. For Miista, traditional craftsmanship and an investment into in-house production sites in Europe precludes shifting its manufacturing elsewhere. 'Our product is rooted in tradition and the ecosystem of Spain and Portugal for generations,' said Villasenín Sánchez. The Iberian peninsula is known for its high-quality leather work, and Miista's success in footwear fusing avant-garde, London-inspired design with traditional Iberian craftsmanship is what allowed the brand to expand from footwear into new categories like clothing, which now makes up around 20 percent of sales. Even though 3sixteen already makes about half its goods in the US, Chen ruled out the idea of moving more production to the US, citing quality concerns. Freja NYC's Lei was emphatic: 'I'm not moving production,' she said. 'The factory in China went back and forth with me over just 100 bags at the start. You don't walk away from that kind of relationship.' Instead, the brands will continue searching for ways to mitigate the impact of the tariffs, or look for sales elsewhere.
