LEADERSHIP | INTERVIEW
The Middle East ’ s leading luxury eyewear retailer Magrabi is transforming the category with smart expansion and workplace diversity , says CEO Yasser Taher
WRITTEN BY : KATE BIRCH
When Yasser Taher was appointed CEO of Magrabi Retail Group earlier this year , few were surprised .
As the former COO working closely alongside ex-CEO Amin Magrabi for the last 14 years , Yasser has been instrumental in building the leading luxury eyewear retailer across the Middle East – with a network of more than 140 stores and 1,500 employees .
Credited with transforming Magrabi from a hospital-based operation to a leading retailer , Yasser – who joined the company as GM GCC in 2000 , becoming COO in 2009 – has spent more than a decade successfully implementing retail best practices and driving the store expansion programme regionally .
Not only has he led the proliferation of bricks and mortar stores regionally – from 40 in 2000 to 150 today across KSA , UAE , Qatar , Kuwait and Egypt – but he has ensured profitability of every store in every country .
“ They always say that to be an international retailer , you must prove that you are profitable and not just existing . Well , here we are ,” Yasser tells Business Chief .
He has also driven the retail group ’ s growing omnichannel presence , and been instrumental in powering its growing portfolio , driving the evolution of the group ( which offers more than 127 luxury and lifestyle brands ) into an own-brand company .
Last year , he successfully piloted and launched a second lifestyle banner , Doctor M , and further led the launch of the company ’ s manufacturing business , opening its first standalone , fully owned ophthalmic lens manufacturer in Dubai .
These launches are all part of the company ’ s transformation , as it looks to disrupt the category , develop successful Own Brands , accelerate regional expansion , and ultimately go global .
Vision 20:25 – to go global Yasser ’ s vision for the future of the Magrabi Retail Group is crystal clear , and ambitious – with plans to double revenue by 2025 , roll out 40-50 stores regionally annually , and double the current production of two million contact lenses per year by 2025 .
Eventually , plans are to take the group global , and to the public markets , though not
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