Immersing himself in Silicon Valley’s entrepreneurship culture while studying at Stanford University in California changed Mehdi Oudghiri’s life for ever.
His career in the consulting world was flourishing before he went to the US but the urge to emulate the success of entrepreneurs who built their ventures from the ground up pushed him on a path that led to the creation of eyewa. The eyewear retail company began online but has moved into bricks-and-mortar retail.
Mr Oudghiri, originally from Morocco, planted his roots in Dubai when he started his career in consulting with Bain & Company in 2009. After working in the region for a few years, he decided to take a break and move to the US to study for an MBA at Stanford.
“It was really a life-changer for me. Being in Silicon Valley, surrounded by entrepreneurs and the campuses of all the big tech companies, got me really excited about start-ups,” he says.
“I made a decision that this is what I wanted to do with my life. I also believed that there was a bigger opportunity for me to come back [to Dubai] and do something here in the region.”
After graduating, he returned to Bain for a few months where he met fellow Moroccan Anass Boumediene, who had joined the company in the meantime.
Both of them left their consulting careers and moved to Food Panda, a start-up founded in Singapore that had raised $350 million and had a presence in 40 countries around the globe. It was little known in the Middle East in 2015 when the duo decided to manage its Mena operations.
“Online food delivery was still not a [popular] thing in the region but we were really at the right place at the right time,” says Mr Oudghiri. “We grew the business revenue by 50 times in a couple of years … through organic growth and some acquisitions.”
When Delivery Hero acquired the entire Food Panda business in 2016, Saudi Arabia was its largest market globally and the Middle East was its biggest region.
“At that point after the acquisition, Annas and I felt we have been through an amazing journey of scaling a start-up, turning it profitable. There was an exit at the end. We learnt a lot from the experience and felt the two of us were ready to launch something of our own,” Mr Oudghiri says.
They agreed on a transition plan with Delivery Hero to start their own venture. The aim was to build something ambitious that could disrupt an industry.
The pair, who both wear glasses, saw an obvious gap in the region’s eyewear industry. It was a proven business model and there were success stories from around the world of companies that started online and eventually added offline components to their operations.
It was really a life-changer for me. Being in Silicon Valley, surrounded by entrepreneurs and the campuses of all the big tech companies, got me really excited about start-ups
Mehdi Oudghiri,
co-founder of eyewa
“In the region, there was no one addressing the industry online and the incumbents were very traditional in their ways of offering eyewear products,” Mr Oudghiri says. “A lot of it was based on the medical aspect – the whole experience was outdated. They were all selling the same products and the price point was higher than the global average.”
The partners decided to change all that with eyewa.
“There was a business opportunity, plus it was something we suffered from as users of eyewear – it was a no-brainer that was the right start-up for us to launch,” he adds.
They initially invested their own savings into establishing the venture, but within a few months of its launch in October 2017 they managed to secure $1.1m in seed funding.
Their track record of success at Food Panda and close interaction with regional and global investors during that time helped them in crossing their first major financial hurdle, Mr Oudghiri says.
After launching operations in the UAE with a handful of team members, eyewa expanded at a brisk pace and ventured into Saudi Arabia within weeks.
“We knew Saudi Arabia is going to be a key market for us,” Mr Oudghiri says.
It operates in the kingdom, which is currently its biggest market, through three fulfilment centres that serve the kingdom’s three major regions.
“The sheer size of the country” requires eyewa to dedicate more resources to Saudi Arabia, the Arab world’s biggest economy. Eyewa’s centre in Dubai, meanwhile, caters to online orders from other Gulf markets and the broader Mena region, he adds.
Eyewa is not a marketplace for retailers to sell their products. It is an online retailer that sources its inventory from major global brands. Over the years, the company has also invested in building its own brands – 30Sundays, Blackout and Layala – to fill market gaps for different price points.
It is currently sourcing frames from partners in China, Italy, the US and South Korea, while its contact lenses are produced in the US.
After the $1.1m seed funding round led by EQ2 Ventures, eyewa raised $7.5m in Series A growth financing in the first quarter of 2019, led by Wamda Capital. That “gave us the means to launch our own brands”, Mr Oudghiri says.
Last month, it secured its biggest amount of funding yet, raising $21m in a round that will fuel its geographical expansion and help it morph into a true “omniplayer” to grow its offline retail presence.
“We have proven our model”, Mr Oudghiri says, and adds that eyewa’s brick-and-mortar retail outlets will have a different “look and feel” to what is currently available in the market.
Three of its stores are already open in Saudi Arabia. The company has plans to open about a dozen more before the end of this year between the kingdom and the UAE. Its first UAE store will open in Dubai’s City Centre Mirdif mall.
Expansion is what “we are actively working on”, he says.
The co-founders have no plans to slow the pace of growth or exit the venture just yet.
“For Anass and myself, we don’t have any plans [for exits]. The more time we spend on eyewa the more excited we get,” Mr Oudghiri says.
Q&A with Mehdi Oudghiri, co-founder of eyewa
What existing start-up do you wish you had started?
Careem, because of the impact it had on the entrepreneurship ecosystem in the region by attracting and training top talent in the digital space. Nothing would make me prouder than seeing, in a few years, people working with eyewa launching their own start-ups or playing key roles in large organisations on the back of the experience they have gained.
What was the biggest lesson you have learnt in launching your venture?
There were so many ... it is very hard for me to pinpoint one. I would say resilience, discipline and hard work are the keys to success for any endeavour, be it a start-up or otherwise.
If you get a chance to do it all over again, what would you do differently?
I cannot rewrite the past, although I would say there were mistakes made along the way. But making mistakes is part of the process that took us where we are today. I feel blessed with what we have achieved so far and I wouldn’t change a thing.
What is your next big dream?
Building great companies that will have a positive impact in our region and doing it surrounded by amazing people is what brings me the greatest satisfaction. That is what we are doing at eyewa.
How has the pandemic affected your business?
As an online-first business, we saw a huge surge in demand during the pandemic. Customer behaviour is changing and they are realising the convenience that online shopping offers.
Where do you see eyewa in five years?
We are building eyewa to be the largest tech-enabled eyewear specialist in Mena. We want to establish our presence across the region, offering a seamless omni-channel experience with exclusive, trendy and accessible products to all our customers.
Profile of eyewa
- Founders: Mehdi Oudghiri and Anass Boumediene
- Started: October 2017
- Based: Dubai, UAE
- Sector: e-commerce, retail
- Initial investment: $1.1m in 2018
- Funding stage: Series-B, $21m
- Investors: Series-B round co-led by Kingsway and Nuwa Capital, with participation from French Partners, Endeavor Catalyst, Derayah, Palm Drive and Hardy Capital
Killing of Qassem Suleimani
Haircare resolutions 2021
From Beirut and Amman to London and now Dubai, hairstylist George Massoud has seen the same mistakes made by customers all over the world. In the chair or at-home hair care, here are the resolutions he wishes his customers would make for the year ahead.
1. 'I will seek consultation from professionals'
You may know what you want, but are you sure it’s going to suit you? Haircare professionals can tell you what will work best with your skin tone, hair texture and lifestyle.
2. 'I will tell my hairdresser when I’m not happy'
Massoud says it’s better to offer constructive criticism to work on in the future. Your hairdresser will learn, and you may discover how to communicate exactly what you want more effectively the next time.
3. ‘I will treat my hair better out of the chair’
Damage control is a big part of most hairstylists’ work right now, but it can be avoided. Steer clear of over-colouring at home, try and pursue one hair brand at a time and never, ever use a straightener on still drying hair, pleads Massoud.
Diriyah%20project%20at%20a%20glance
%3Cp%3E-%20Diriyah%E2%80%99s%201.9km%20King%20Salman%20Boulevard%2C%20a%20Parisian%20Champs-Elysees-inspired%20avenue%2C%20is%20scheduled%20for%20completion%20in%202028%0D%3Cbr%3E-%20The%20Royal%20Diriyah%20Opera%20House%20is%20expected%20to%20be%20completed%20in%20four%20years%0D%3Cbr%3E-%20Diriyah%E2%80%99s%20first%20of%2042%20hotels%2C%20the%20Bab%20Samhan%20hotel%2C%20will%20open%20in%20the%20first%20quarter%20of%202024%0D%3Cbr%3E-%20On%20completion%20in%202030%2C%20the%20Diriyah%20project%20is%20forecast%20to%20accommodate%20more%20than%20100%2C000%20people%0D%3Cbr%3E-%20The%20%2463.2%20billion%20Diriyah%20project%20will%20contribute%20%247.2%20billion%20to%20the%20kingdom%E2%80%99s%20GDP%0D%3Cbr%3E-%20It%20will%20create%20more%20than%20178%2C000%20jobs%20and%20aims%20to%20attract%20more%20than%2050%20million%20visits%20a%20year%0D%3Cbr%3E-%20About%202%2C000%20people%20work%20for%20the%20Diriyah%20Company%2C%20with%20more%20than%2086%20per%20cent%20being%20Saudi%20citizens%0D%3C%2Fp%3E%0A
THREE
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Types of bank fraud
1) Phishing
Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.
2) Smishing
The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.
3) Vishing
The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.
4) SIM swap
Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.
5) Identity theft
Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.
6) Prize scams
Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.
Brief scoreline:
Liverpool 2
Mane 51', Salah 53'
Chelsea 0
Man of the Match: Mohamed Salah (Liverpool)
Most sought after workplace benefits in the UAE
- Flexible work arrangements
- Pension support
- Mental well-being assistance
- Insurance coverage for optical, dental, alternative medicine, cancer screening
- Financial well-being incentives
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
The design
The protective shell is covered in solar panels to make use of light and produce energy. This will drastically reduce energy loss.
More than 80 per cent of the energy consumed by the French pavilion will be produced by the sun.
The architecture will control light sources to provide a highly insulated and airtight building.
The forecourt is protected from the sun and the plants will refresh the inner spaces.
A micro water treatment plant will recycle used water to supply the irrigation for the plants and to flush the toilets. This will reduce the pavilion’s need for fresh water by 30 per cent.
Energy-saving equipment will be used for all lighting and projections.
Beyond its use for the expo, the pavilion will be easy to dismantle and reuse the material.
Some elements of the metal frame can be prefabricated in a factory.
From architects to sound technicians and construction companies, a group of experts from 10 companies have created the pavilion.
Work will begin in May; the first stone will be laid in Dubai in the second quarter of 2019.
Construction of the pavilion will take 17 months from May 2019 to September 2020.
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
What is graphene?
Graphene is a single layer of carbon atoms arranged like honeycomb.
It was discovered in 2004, when Russian-born Manchester scientists Andrei Geim and Kostya Novoselov were "playing about" with sticky tape and graphite - the material used as "lead" in pencils.
Placing the tape on the graphite and peeling it, they managed to rip off thin flakes of carbon. In the beginning they got flakes consisting of many layers of graphene. But as they repeated the process many times, the flakes got thinner.
By separating the graphite fragments repeatedly, they managed to create flakes that were just one atom thick. Their experiment had led to graphene being isolated for the very first time.
At the time, many believed it was impossible for such thin crystalline materials to be stable. But examined under a microscope, the material remained stable, and when tested was found to have incredible properties.
It is many times times stronger than steel, yet incredibly lightweight and flexible. It is electrically and thermally conductive but also transparent. The world's first 2D material, it is one million times thinner than the diameter of a single human hair.
But the 'sticky tape' method would not work on an industrial scale. Since then, scientists have been working on manufacturing graphene, to make use of its incredible properties.
In 2010, Geim and Novoselov were awarded the Nobel Prize for Physics. Their discovery meant physicists could study a new class of two-dimensional materials with unique properties.
In numbers
- Number of children under five will fall from 681 million in 2017 to 401m in 2100
- Over-80s will rise from 141m in 2017 to 866m in 2100
- Nigeria will become the world’s second most populous country with 791m by 2100, behind India
- China will fall dramatically from a peak of 2.4 billion in 2024 to 732 million by 2100
- an average of 2.1 children per woman is required to sustain population growth
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
The%20specs
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Sheer grandeur
The Owo building is 14 storeys high, seven of which are below ground, with the 30,000 square feet of amenities located subterranean, including a 16-seat private cinema, seven lounges, a gym, games room, treatment suites and bicycle storage.
A clear distinction between the residences and the Raffles hotel with the amenities operated separately.
The%20specs%20
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%204cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E261hp%20at%205%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E400Nm%20at%201%2C750-4%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E7-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E10.5L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh129%2C999%20(VX%20Luxury)%3B%20from%20Dh149%2C999%20(VX%20Black%20Gold)%3C%2Fp%3E%0A
TALE OF THE TAPE
Manny Pacquiao
Record: 59-6-2 (38 KOs)
Age: 38
Weight: 146lbs
Height: 166cm
Reach: 170cm
Jeff Horn
Record: 16-0-1 (11 KOs)
Age: 29
Weight: 146.2lbs
Height: 175cm
Reach: 173cm
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Company Profile:
Name: The Protein Bakeshop
Date of start: 2013
Founders: Rashi Chowdhary and Saad Umerani
Based: Dubai
Size, number of employees: 12
Funding/investors: $400,000 (2018)
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
