Luxembourg-born Nidhima Kohli is chief executive of Beauty Tribe, a recently launched online store for beauty products hand-picked by salon experts and delivered in three hours.
Ms Kohli lived in London, Paris and New York before making the UAE home this year after a previous holiday extended when the Covid-19 pandemic closed UK borders.
She began her career in investment banking, including Credit Suisse and HSBC, before combining a passion for beauty products and an entrepreneurial spirit to create My Beauty Matches platform.
Ms Kohli is single, in her 30s and lives in Dubai Hills.
Were you around money growing up?
Luxembourg is one of the richest countries in the world. However, we were not rich. There were hardly any Indian people there, maybe 10 or 20 families. We had to prove ourselves, work harder and stand out.
In the old days, my father had nothing, worked his way up, then became one of the most successful businessmen in Luxembourg. He has import/export businesses, tech things as well, but in our early days, it was a difficult life.
That’s essentially what gave me my drive and my parents taught me you don’t waste money, you have to value money. If you have extra, then help those that don’t.
When did you first get paid for work?
At 15, I was a school bus monitor. I got something like 20 francs a journey, about one euro ($1).
The summer I turned 16, I did my first internship in private banking. I worked through school, through university.
Why the need to earn?
I wanted the freedom to buy the things I wanted. Sephora opened in Luxembourg; I wanted nail polishes and lipsticks, clothes. And then I wanted to go on holidays.
It was not really about not having to ask my parents for money, they have been incredibly generous … a big part was a sense of pride and achievement when I did it on my own.
I didn’t want to get money from my dad because I know how hard he worked and wanted him to spend more on himself.
Why swap investment banking for beauty businesses?
Working for the top investment banks, I had a six-figure salary before I hit my 30s. However, it got repetitive and my father’s a massive inspiration; there’s part of me that likes to create, innovate, likes challenges and to solve problems.
I went to the London School of Beauty, taking courses for fun. I quickly learned how confusing it is … there’s so many products out there. That gave the idea to launch my first business, essentially a product recommendation and price comparison site for beauty products.
I launched a second business, selling artificial intelligence software to beauty companies.
Was it tough financially?
It was a 180-degree turn. I went from flying business class to the best places for New Year to … I wouldn’t even go to a coffee shop to work because money I’d save on buying hot chocolate I could put into Facebook advertising.
I fundraised as well, but why would someone invest in your business if you’re not willing to invest your own money?
What led you to the UAE?
I was running my businesses for about 10 years and as much as I loved it, it was a lonely journey. I got approached (by someone) to buy one of my companies and thought: “Okay, what next?”
Money is great. It gives you freedom, allows you access to what you want
Nidhima Kohli,
chief executive of Beauty Tribe
I came to Dubai for a 10-day trip last year. All of a sudden, they announced a lockdown in the UK, so I was working and living in Dubai for four months.
I learned a lot and then got this opportunity to work at Beauty Tribe, a start-up within a bigger company. I loved the idea that you could get expert advice. Women need a trusted source of what’s the right product to buy and how to use it.
What’s your spending and saving outlook?
It’s changed with time and age. When I was working, maybe the first five years, I was a complete spender, didn’t save anything.
During the credit crunch, I learned that you need to start saving. Now, I save for things I want to do or invest in.
My attitude is, if I can have enough money to have a comfortable life and to help others, then great.
How do you grow your wealth?
The first five years of my start-up journey, I was part of tech founder groups. I met amazing people doing amazing things, so started investing in start-ups.
Coming from a finance background, I believe in diversifying, so some are in tech, some in wellness.
Then I’ve invested in my businesses. I started investing in cryptocurrency as well.
I won’t just keep it in my bank account, it either needs to be invested somewhere that is going to grow and give a return or it needs to help someone.
Do you give to good causes?
Animals and kids, predominantly, sometimes women.
I grew up in one of the richest countries, and as a kid we would go to India every summer; one of the poorest countries.
The shock … childhood frames you as an adult. Automatically, I would want to give back.
What has been your best investment?
I got a really nice London apartment in a prime location. It’s gone up in value and is rented out. I’ll be looking to save enough to buy another home.
How do you feel about money?
Money is great. It gives you freedom, allows you access to what you want.
The most important thing is to remember to spread the wealth. And it’s good to talk about money, people need to know about investing and different possibilities earlier on. I listen to a lot of podcasts about money.
I don’t think it’s good to hold onto it too tight, you have to let it flow. You give … it comes back towards you.
Are you wise with money?
I got wiser with time. It’s important to keep an eye on it or you can just spend, spend, spend, and end up not saving anything.
I spent way too much on clothes in the past. I realised I don’t need that much. It’s just money out the window.
What do you splurge on?
Every year, I have a Mediterranean summer holiday, my favourite place in the world. I will go full on. I’m doing my birthday in Ibiza, I’ve rented a boat.
I don’t like to spend a massive amount on one thing, like a bag. I believe a lot in wellness and focusing on myself, meditation, massages.
I like to spoil myself with at least one thing a day, because that is showing self-care, and that’s why I love beauty products.
I reward myself. Running a start-up is intense, you have to invest in your wellness.
What are your future financial goals?
I’ll never be able to retire … I’d get bored out of my mind. I will always do something.
I believe in always learning, self growth. I want to own three homes, one in London, either one here or in Luxembourg and one in the Mediterranean.
And then be able to live comfortably and take care of my future family and my parents.
Miss Granny
Director: Joyce Bernal
Starring: Sarah Geronimo, James Reid, Xian Lim, Nova Villa
3/5
(Tagalog with Eng/Ar subtitles)
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
'The Ice Road'
Director: Jonathan Hensleigh
Stars: Liam Neeson, Amber Midthunder, Laurence Fishburne
2/5
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
Francesco Totti's bio
Born September 27, 1976
Position Attacking midifelder
Clubs played for (1) - Roma
Total seasons 24
First season 1992/93
Last season 2016/17
Appearances 786
Goals 307
Titles (5) - Serie A 1; Italian Cup 2; Italian Supercup 2
TEST SQUADS
Bangladesh: Mushfiqur Rahim (captain), Tamim Iqbal, Soumya Sarkar, Imrul Kayes, Liton Das, Shakib Al Hasan, Mominul Haque, Nasir Hossain, Sabbir Rahman, Mehedi Hasan, Shafiul Islam, Taijul Islam, Mustafizur Rahman and Taskin Ahmed.
Australia: Steve Smith (captain), David Warner, Ashton Agar, Hilton Cartwright, Pat Cummins, Peter Handscomb, Matthew Wade, Josh Hazlewood, Usman Khawaja, Nathan Lyon, Glenn Maxwell, Matt Renshaw, Mitchell Swepson and Jackson Bird.
Series info
Test series schedule 1st Test, Abu Dhabi: Sri Lanka won by 21 runs; 2nd Test, Dubai: Play starts at 2pm, Friday-Tuesday
ODI series schedule 1st ODI, Dubai: October 13; 2nd ODI, Abu Dhabi: October 16; 3rd ODI, Abu Dhabi: October 18; 4th ODI, Sharjah: October 20; 5th ODI, Sharjah: October 23
T20 series schedule 1st T20, Abu Dhabi: October 26; 2nd T20, Abu Dhabi: October 27; 3rd T20, Lahore: October 29
Tickets Available at www.q-tickets.com
Stat Fourteen Fourteen of the past 15 Test matches in the UAE have been decided on the final day. Both of the previous two Tests at Dubai International Stadium have been settled in the last session. Pakistan won with less than an hour to go against West Indies last year. Against England in 2015, there were just three balls left.
Key battle - Azhar Ali v Rangana Herath Herath may not quite be as flash as Muttiah Muralitharan, his former spin-twin who ended his career by taking his 800th wicket with his final delivery in Tests. He still has a decent sense of an ending, though. He won the Abu Dhabi match for his side with 11 wickets, the last of which was his 400th in Tests. It was not the first time he has owned Pakistan, either. A quarter of all his Test victims have been Pakistani. If Pakistan are going to avoid a first ever series defeat in the UAE, Azhar, their senior batsman, needs to stand up and show the way to blunt Herath.
Results
6.30pm: Maiden Dh165,000 (Dirt) 1,200m
Winner: Barack Beach, Richard Mullen (jockey), Satish Seemar (trainer).
7.05pm: Handicap Dh170,000 (D) 1,200m
Winner: Way Of Wisdom, Connor Beasley, Satish Seemar.
7.40pm: Maiden Dh165,000 (D) 1,900m
Winner: Woodditton, Connor Beasley, Ahmad bin Harmash.
8.15pm: Handicap Dh185,000 (D) 2,000m
Winner: Secret Trade, Sandro Paiva, Ali Rashid Al Raihe.
8.50pm: Handicap Dh185,000 (D) 1,600m
Winner: Mark Of Approval, Antonio Fresu, Mahmood Hussain.
9.25pm: Handicap Dh165,000 (D) 2,000m
Winner: Tradesman, Pat Dobbs, Doug Watson.
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The alternatives
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
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FIGHT CARD
1. Featherweight 66kg
Ben Lucas (AUS) v Ibrahim Kendil (EGY)
2. Lightweight 70kg
Mohammed Kareem Aljnan (SYR) v Alphonse Besala (CMR)
3. Welterweight 77kg
Marcos Costa (BRA) v Abdelhakim Wahid (MAR)
4. Lightweight 70kg
Omar Ramadan (EGY) v Abdimitalipov Atabek (KGZ)
5. Featherweight 66kg
Ahmed Al Darmaki (UAE) v Kagimu Kigga (UGA)
6. Catchweight 85kg
Ibrahim El Sawi (EGY) v Iuri Fraga (BRA)
7. Featherweight 66kg
Yousef Al Husani (UAE) v Mohamed Allam (EGY)
8. Catchweight 73kg
Mostafa Radi (PAL) v Abdipatta Abdizhali (KGZ)
9. Featherweight 66kg
Jaures Dea (CMR) v Andre Pinheiro (BRA)
10. Catchweight 90kg
Tarek Suleiman (SYR) v Juscelino Ferreira (BRA)
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
UAE currency: the story behind the money in your pockets
Seemar’s top six for the Dubai World Cup Carnival:
1. Reynaldothewizard
2. North America
3. Raven’s Corner
4. Hawkesbury
5. New Maharajah
6. Secret Ambition
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
