"Reduce, reuse, recycle, re-own" is a mantra that has been repeated countless times in the Rowlands household over the last few months. My Ex Wardrobe, a platform for the resale of second-hand clothes, is the latest brainchild from a sister trio who have successfully channelled their passion for creativity into not one, but three, profitable family businesses.
"The most powerful driving force behind our entrepreneurial prowess is doing something that we love," says Sian Rowlands, 29, who is the middle sister in the Dubai-based family who have, one after the other, turned their hobbies into business ideas. "And, if this means being able to offer a wallet-friendly alternative to our customers, even better."
Circus school, drama, sports, music and art. You name it; the Rowlands sisters have tried it.
"Growing up, our parents put a lot of emphasis on the importance of trying out new hobbies," says Teagan Rowlands, 26, who moved to the UAE along with her family in 1991. "We were taught to give everything our best shot and to only quit when we were 100 per cent sure it wasn't for us."
Growing up so close in age, a spirit of healthy competition prevailed between the sisters.
"I have always been hugely competitive and loved setting myself up for a challenge," says Bekky Britton, 31, the eldest of the sisters and mother of Lily, four and one-year-old Finley. "Even at 36 weeks pregnant I would be making sure I could stretch better than anyone else in my yoga class."
The entrepreneurial spirit is deeply rooted in the Rowlands family ethos and has no doubt been the driving force behind their determination to follow their dreams. Their father, a pilot by trade, also runs a Dubai-based solar energy business, SGT Solar, which he set up having researched the lack of energy saving solutions available in the UAE.
"As a family, our business ideas have materialised not only from our hobbies, but also from the idea that if there is something that we are struggling to get hold of ourselves, someone else out there must be feeling the same," says Mrs Britton.
The youngest of the three, Teagan Rowlands, was the first to set up on her own with the launch of Teagan Jewellery, www.teaganjewellery.com, in 2009. "I started small by showcasing my first collection at the ARTE souq in Times Square mall," Miss Rowlands explains. Artisans of the Emirates (ARTE) is a useful tool for budding entrepreneurs as it aims to provide a competitively priced platform to allow local artisans to promote their UAE-made arts and crafts.
An initial business investment of Dh7,500 from her family gave the youngest sister the capital to buy her first batch of design supplies and she also set up her own silver design studio at the back of a friend's house which now forms the hub of Teagan Jewellery.
"Having a creative work environment is certainly worth the investment," says Miss Rowlands. "My latest collection is inspired by Arabic calligraphy and you can find a cute pair of earrings for as little as Dh30 while a handmade solid silver necklace retails at Dh500."
Meanwhile, having quit her job as a sailing instructor at the Dubai Offshore Sailing club to prepare for the birth of her first child in 2007, eldest sibling Mrs Britton found she had plenty of time to indulge in her passion of cooking. Only four weeks into her maternity leave, she set up LilyBakes, www.lilybakes.com - a company specialising in home-made chutney, jam, curd, savoury bites and deserts - with Dh8,000, an amount she quickly recouped through sales.
"Now my business runs predominantly through word of mouth. Each business idea demands a unique marketing strategy and with something as personal as cooking, reputation and successful referrals means everything," says Mrs Britton.
Inspired by her siblings' commercial acumen, middle-sibling Sian Rowland's idea for My Ex Wardrobe snowballed after a long-overdue clear out of her own closet in May.
"A lot of money had gone into my wardrobe and I was determined to find a way to get some return on my investment," says Miss Rowlands. "Unable to find a suitable platform for the resale of second-hand clothes in the UAE I pitched my business plan to my sisters and was delighted when they all jumped on board."
The key to their concept is exclusivity and, according to Miss Rowlands, My Ex Wardrobe puts the trendy back into bargain shopping.
"Starting small we invited friends to our first ladies fashion event in May and followed with a much larger event in July," says Miss Rowlands. "Our clothes are predominantly affordable high-street fashion with occasional vintage and designer gems. At My Ex Wardrobe you can pick up a Reiss top for Dh75 that originally sold for Dh550 or a pair of heels from New Look for Dh69 which is 50 per cent cheaper than the original price."
Finding the right formula is all about trial and error and My Ex Wardrobe has immediate plans to set up a classified website that will also allow members to buy and sell their clothes online. Miss Rowlands believes there is also a market for men's fashion and kids clothing which is something they intend to capitalise on in the future.
The sisters have also found that a successfully crafted and expertly honed marketing and public relations strategy is key to elevating their business to the next level.
"Although we use our company websites as an access point for our clients, we all focus our efforts on utilising social media to engage a wider audience. It allows us to interact with people who otherwise would be unavailable to us and with the growing enthusiasm in the region for networking sites such as Twitter and Facebook, we find this the most cost effective and time sensitive way of getting our message across and marketing our products," says Sian Rowlands.
The sisters agree that working together as a family on their latest venture has been infinitely rewarding and despite sometimes testing their diplomacy skills to the limit, managing a working relationship with each other has brought them even closer together.
"The upside of working together as a family is that feedback will always be honest and heartfelt," says Carolyn Mitchell, a certified NLP Master Practitioner and owner of Dubai-based Blue Sky Life Coaching. "The downside of that heartfelt honesty however is that it has the potential to result in a fireworks display of emotions."
Fireworks or not, the Rowlands sisters have already proved that sticking to what you love could be the ultimate key to success.
pf@thenational.ae
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
EA Sports FC 25
Developer: EA Vancouver, EA Romania
Publisher: EA Sports
Consoles: Nintendo Switch, PlayStation 4&5, Xbox One and Xbox Series X/S
Rating: 3.5/5
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
As it stands in Pool A
1. Japan - Played 3, Won 3, Points 14
2. Ireland - Played 3, Won 2, Lost 1, Points 11
3. Scotland - Played 2, Won 1, Lost 1, Points 5
Remaining fixtures
Scotland v Russia – Wednesday, 11.15am
Ireland v Samoa – Saturday, 2.45pm
Japan v Scotland – Sunday, 2.45pm
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Dirham Stretcher tips for having a baby in the UAE
Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:
• Buy second hand stuff
They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.
• Get a health card and vaccinate your child for free at government health centres
Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.
• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.
Before joining baby classes ask for a free trial session. This way you will know if it's for you or not. You'll be surprised how great some classes are and how bad others are.
• Once baby is ready for solids, cook at home
Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.
The specs
Engine: 1.5-litre 4-cylinder petrol
Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
On sale: Now
Hili 2: Unesco World Heritage site
The site is part of the Hili archaeological park in Al Ain. Excavations there have proved the existence of the earliest known agricultural communities in modern-day UAE. Some date to the Bronze Age but Hili 2 is an Iron Age site. The Iron Age witnessed the development of the falaj, a network of channels that funnelled water from natural springs in the area. Wells allowed settlements to be established, but falaj meant they could grow and thrive. Unesco, the UN's cultural body, awarded Al Ain's sites - including Hili 2 - world heritage status in 2011. Now the most recent dig at the site has revealed even more about the skilled people that lived and worked there.
Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
COMPANY%20PROFILE%20
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The specs
Engine: 6.2-litre V8
Transmission: seven-speed auto
Power: 420 bhp
Torque: 624Nm
Price: from Dh293,200
On sale: now
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners