A Clear Direction– Exclusive interview with Nisreen Shocair, CEO Middle East at YOOX NET-A-PORTER

A CLEAR DIRECTION

Nisreen Shocair, CEO Middle East YOOX NET-A-PORTER GROUP is an incredible woman, not least in her acute understanding of how the Middle East ticks in terms of content and commerce. We discussed creating clear direction in a very special region and guiding the growth of a super brand

What has changed since you took on the role of CEO Middle East YOOX NET-A-PORTER GROUP both in terms of YNAP and the region? Each one of our four leading multi-brand online stores: NET-A-PORTER, MR. PORTER, YOOX and THE OUTNET has its own leadership position. My goal is to further strengthen each of these by growing new markets. We do this by adding new and exciting products and services to our o ering in line with our customers’ local preferences and standards. As a business, we are currently focusing on tuning into the regional customers’ needs by o ering them brand exclusives and unparalleled customer service in Arabic. We are also looking at amplifying our localization e orts and driving brand value proposition across our portfolio. How do you uphold the DNA of the brand and its core values whilst continuing to drive a clear direction of newness? YOOX NET-A-PORTER connects the most discerning customers with the joy of lasting luxury and fashion. We combine a curated edit of the world’s most coveted brands with personalised end-to-end service, all shaped by more than 20 years of insights into the modern luxury shopper.

This commitment remains at the forefront of all our work. It will never change, and it’s reflected across all of the new directions that the business takes. An example is during the localization of our NET-A-PORTER website for the Middle East. We maintained our personalized services, our unparalleled editorial and roster of coveted brands by curating everything in the region’s language. It was our highest priority. Another aim is to continuously bring Middle Eastern talent and key opinion leaders to share their stories and accomplishments through PORTER Arabic. You’re a champion of home-grown brands in the UAE. How do you hone in on those which will be relevant for a global market and how do you partner in order to support them to be able to scale? We champion regional designers through our NET SUSTAIN edit that reflects NET-A-PORTER’s unique and exclusive o ering of more consciously cra ed fashion. This has struck the attention of local designers in the region. Having a local o ce with a local team also speeds up the process considerably as there is a pre-qualification process in terms of quality and design. For example, we recently launched Benchellal’s couture-worthy creations on NET SUSTAIN earlier this month. His designs o er eveningwear that is also sustainable, marking a long-term commitment to creating opportunities that contribute to a more circular and sustainable fashion system, in line with YOOX NET-A-PORTER GROUP’s 2030 sustainability strategy, Infinity. We rise together as an industry with designers and retailers keeping each other strong to continue growing. The UAE encourages and cultivates an environment in which to thrive in business – how have you experienced this? I have set up over seven businesses in the UAE and what I find to be essential is establishing a full ecosystem that allows a company to get going. Whether it’s a startup or multinational, being seamless means that it is legally protected, ensuring the business can think about maintaining roots in the Middle East long term. This includes obvious set-up laws and exit laws, logistics, supply chain and employment laws. Whether it’s in media or broadcast, creative service agencies, or retail or digital, I found that the di erent jurisdictions that carry the support systems are vital, i.e. lawyers, government entities, freelancers, and up and coming designers. What have been the challenges to building or scaling a business in the region and how did you overcome them? From a business perspective, the key element for YOOX NET-A-PORTER Middle East was not just attracting talent but the right talent, especially that as a business we are digitally driven and would require the matching skillset in our employees. As the

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market became more mature and the customer became more selective what has helped solve the problem of the scaling and growth was the environment that the UAE was able to create, to attract emerging talent in the top of their field from across the globe. The UAE gives businesses such as ours a wider talent pool that has a relevant global viewpoint to tackle the multiple issues that we face in multiple countries. The UAE supports those who decide to take a new turn in life. How has being based in the region allowed you to re-invent or change the direction of your life or career? Since I started in the region, showcasing Middle Eastern talent and building the next generation of inspirational talent has been a mission close to my heart. In a more mature market like the US, you find that foundations are already established in businesses. However, here in the region, you have to take on the responsibility of building the retail landscape for consumers. Managing a business in the face of adversity is a challenge but an exciting one to overcome. Another key element for me is sustainability. It is pretty incredible to see how fast we’ve adopted sustainability in the region. Whether it’s laws to protect our environment or helping the Middle Eastern consumer become more aware and educated. Joining an incredible organization like YOOX NET-A-PORTER with its high standards around diversity, inclusion and circularity initiatives as exemplified in our Infinity strategy for a more sustainable and circular future by 2030, really drew me in. So much has been achieved in the UAE in 50 years, do you feel this pace and scale of growth is reflected in the businesses based here? Without a doubt. The development that has taken place in the last five years is remarkable in terms of the infrastructure that has been put in place to support foreign investment as well as supporting local entrepreneurship. The focus on IP, brand and tech protection has come a long way for both established and new brands. This is The Timelessness Issue – what or who is timeless to you? Each one of the royal families in the UAE represents timelessness. The unification of the UAE happened through them. They worked so well together to build that timeless benchmark that anyone from the region should strive towards. Respect, a sense of understanding and hard work are all key pillars of timelessness for me, and they’re reflected every day in the UAE. I also find that the foundations, i.e. of the infrastructure created to build this great nation, are timeless. You can always bank on the UAE. What I also learned during my time so far at YOOX NETA-PORTER is that style is eternal. Classics and essentials that are passed down between the di erent generations hold a great deal of value. It also ties in with being sustainable and circular as we keep our cherished pieces in use for longer and reduce waste! This year we celebrate the UAE’s 50th Anniversary – what makes this region unique to you? I am from the Middle East. I am very passionate about the UAE’s vision and ability to attract the best talent to move to the UAE and the region, alongside retaining them with a quality of life that is hard to compete with. I want to bring the Middle East to the world. I want to turn us from consumers to creators, with financial success attached to it. I am very emotional and passionate about the youth of the Middle East. We have a lot to do still to help build a stage for them to learn what they love and do what they are passionate about in order to succeed. I want to see more talent recruitment from the region globally and see local stars playing on the international scene across fashion, sports, tech, and media. This year we celebrate Emirates Woman’s 40th anniversary. How would you now describe the brand and how does it support women in the region and beyond? If there was a tagline it would be ‘Always here for us’. Emirates Woman has been there for us from the beginning. From highlighting the introvert and the extroverts amongst us to pushing women to new heights and showing that the Middle Eastern woman can be a fashion maven, a businesswoman, a dedicated mother and partner all at the same time. Emirates Woman also shows the vulnerabilities that are specific to us in the region.