Michel Chalhoub, the founder and chairman of the Chalhoub Group for luxury retail in Dubai, has passed away at the age of 89. Chalhoub, who had a net worth of $1.1 billion according to Forbes magazine, established the group in 1955 with his wife, Widad, in Damascus, Syria. He remained the driving force behind this growing company based in Dubai, which operates more than 750 retail stores across the region and employs around 12,000 staff.
The company currently owns over 750 retail outlets showcasing luxury brands such as Chanel, Louis Vuitton, and Christian Louboutin, and employs approximately 12,000 workers across 14 countries. On July 31, the company's board issued a statement mourning the loss of their founder, noting, “With deep sadness and sorrow, we mourn the passing of Michel Chalhoub, founder and chairman of the Chalhoub Group, at the age of 89.”
The board highlighted his legacy as a visionary who recognized the potential of the Gulf states since the 1950s, and alongside his wife Widad, created the Chalhoub Group. He remained an ambassador of luxury, with his group showcasing many prestigious brands in the Middle East, and was known for his exceptional taste in products and brands that significantly shaped the luxury goods market as we know it today.
Chalhoub, a French billionaire, was born in Damascus in 1931 and lived with his wife in Dubai. Their sons, Anthony and Patrick, have held the position of co-CEO of the group since 2001. Patrick became the sole CEO in 2018 following Anthony's passing.
The Chalhoub Group is the exclusive partner for LVMH in the Middle East and represents more than 300 other brands including Sephora, Tod’s, Michael Kors, Lacoste, and Tory Burch. It also owns one of the largest shoe stores in the world, Level Shoe District, located in Dubai with a space exceeding 96,000 square feet (8,918 square meters).
Over the past three years, the group has transformed from a traditional retailer to a hybrid retailer with a more extensive online shopping presence. Last year, the group revealed plans to reorganize its operations amid the COVID-19 pandemic to shift towards online sales and e-commerce.
The companies managed by the luxury retail group fall into four business lines—joint ventures and strategy; growth, innovation, and investment; operations and enabling functions; and people and culture. The company states that its founder was “a businessman who adapted to circumstances, established the group, and rebuilt it after several historical events of turmoil and crises, as well as being a passionate, dedicated, and generous man who left behind a solid foundation and a legacy that inspires us all the time, being a loving husband, an enthusiastic father, and a caring grandfather.”
