How might we engage our customers through new and immersive in-store activations that add value to our products and Maisons?

Within the retail industry, brick-and-mortar stores are increasingly being challenged by e-commerce sales channels. Richemont sees a future opportunity to evolve customer relationships by embedding digitally-enabled interactive product experiences.

One of the limitations for brick and mortar stores is the way in which a customer is enabled to interact with a product that is not in-store. For customers that visit these establishments, providing enhanced visibility and accessibility to high-value, unique, and by-order products enables a richer customer experience and increases sales.

Beyond this, Richemont is interested in providing more attractive storefronts utilizing innovative technologies to draw in potential customers to engage with their products and to add value to the overall Maison experience.

What are the problems to solve?

• Not all unique items can be in store, and some by-order, customized items are hard for customers to conceptualize
• Store-front displays do not always draw in customers and could be more inviting, increasing footfall and engagementmized

items are hard for customers to conceptualize

Who is most affected by these problems?

• Customers who want to be able to fully experience products before they buy them
• Customers that want to be engaged and immersed in the Richemont Maisons
• Richemont Sales Associates(SAs) that are not able to provide the experience and service required by customers

Guiding principles for solution

• Accessibility
• Interactivity
• Original
• Storytelling

Vision

• Building curiosity and interest through interactive and exciting window displays and store-front
• Increasing accessibility and interactivity of in-store and by-order products by enabling a customer to experience a product before it becomes their own

Why is this important?

• Richemont is losing out on precious in-store opportunities to build stronger customer relationships and generate sales in an industry where e-commerce is putting pressure on brick and mortar
• The Dubai retail market is a key driver of the economy, and innovation within this industry helps to further strengthen Dubai’s position as a global retail hub

Want to learn more about the challenge? Watch the Challenge webinar with Richemont.

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Program benefits include

• Potential partnerships with top level stakeholders in UAE
• Dubai Future Foundation takes zero equity in your business​
• Direct access to key decision makers in government and private sector partners
• Opportunity to apply for the Golden Visa
• Opportunity to be connected with regional investors
• Accelerated process for company setup and formation in Dubai (provided matching business activities)
• State of the art creative workspace and access to prototyping equipment​
• Opportunity to join the most vibrant ecosystem in the region
• Roundtrip airfare to Dubai and paid accommodation for Phase 2 (in-residence) participants​

Program timeline 

The 12-week program is structured into 2 phases:

Phase 1: A 4-week virtual program to be conducted in June 2022, where shortlisted companies will work closely with Richemont to understand their challenge and propose a solution. Phase 1 will conclude with a pitching competition and the top companies will progress onto Phase 2 in Dubai.

Phase 2: Successful companies join a 8-week in-residence program in Dubai where they will do a proof concept to showcase that they are the best partners to solve the challenge for Richemont. At the end of this Phase, Richemont will review, evaluate and finalise the companies they would like to continue collaboration with post the program.

Application deadline

Submission of application extended | May 06, 11.59PM GMT+4

Open to: start-ups, scale-ups and SMEs from around the world with a proven tech-solution

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Who are Richemont?

Richemont is the owner of prestigious Maisons (brands), recognised for their excellence in jewellery, watches, fashion and accessories, and distinguished by their craftsmanship and creativity.

The Richemont mission is to craft the future by nurturing the distinctive craftsmanship, innovative spirit and creative inspiration of their people, creating long term value for all stakeholders: customers, colleagues, investors, partners and wider society.