Louis Vuitton becomes first member under Dubai's ‘One Freezone Passport' initiative
The initiative provides businesses with 'seamless access to multiple free zones while maintaining a single licence,' it was announced in a statement.
Louis Vuitton will now maintain its warehouse operations in Jebel Ali Free Zone while establishing its corporate office at One Za'abeel, part of the Dubai World Trade Centre Free Zone.
'This development highlights the programme's effectiveness in streamlining business expansion across Dubai's economic zones,' the government said.
'The streamlined free zone licence expansion process, completed in just five days, showcases Dubai's efficiency in business setup and operational facilitation,' it added.
'The swift and successful onboarding of Louis Vuitton through this program exemplifies the efficiency and attractiveness of Dubai's regulatory framework for international businesses.', said Dr. Juma Al Matrooshi, Assistant Secretary General at Dubai Free Zones Council.
'By enabling businesses to expand seamlessly across our world-class free zones, we are reinforcing Dubai's reputation as a premier investment destination,' he added.
Meanwhile Abdalla Al Banna, Vice President of Free Zone Regulatory Operations at DWTC, said the successful onboarding of Louis Vuitton 'demonstrates both the calibre of businesses Dubai continues to attract and our commitment to fostering an efficient business environment.'
'The company's decision to expand operations into DWTC Free Zone from JAFZA reinforces international confidence in Dubai's business ecosystem.'
He explained that the programme enhances Dubai's attractiveness for global enterprises by enabling seamless operations across the city's free zones as it lets companies expand their operational footprint through a 'streamlined and fast-paced process.'
The DWTC Free Zone is home to global companies, SMEs innovators, and entrepreneurs across over 40 sectors.
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Business Recorder
4 days ago
- Business Recorder
What is Dubai's ‘ground-breaking' One Freezone Passport?
The Dubai Free Zones Council recently announced the successful implementation of the One Freezone Passport, an initiative that provides businesses with access to multiple free zones while maintaining a single licence. In other words, companies licensed at one free zone can benefit from facilities located in other free zones across the emirate without requiring additional licensing. While the statement did not specify what facilities this would include, it likely refers to office space, warehousing, HR services, and even R&D or legal support. Louis Vuitton becomes first member under Dubai's 'One Freezone Passport' initiative In a statement, the Council described the Passport as a 'ground-breaking initiative aimed at enhancing the ease of doing business across Dubai's free zones.' It is worth noting that global luxury brand Louis Vuitton has become the first company to leverage this initiative through the Dubai World Trade Centre Authority (DWTC), which operates the Dubai World Trade Centre Free Zone. It took the company five days to complete the process. Louis Vuitton will maintain its warehouse operations in Jebel Ali Free Zone while establishing its corporate office at One Za'abeel, part of the Dubai World Trade Centre Free Zone. Dr. Juma Al Matrooshi, Assistant Secretary General at Dubai Free Zones Council, said that 'by enabling businesses to expand seamlessly across our world-class free zones, we are reinforcing Dubai's reputation as a premier investment destination.' So what does this mean for businesses? According to the government, companies can expand their operational footprint through a streamlined and fast-paced process. The programme could also encourage cross-sector collaboration across Dubai. 'The One Freezone Passport initiative fundamentally transforms Dubai's business landscape by allowing companies to operate across all 30-plus free zones with a single license,' Bas Kooijman, CEO of asset management firm DHF Capital SA, told Business Recorder. 'For companies, this dismantles operational silos and offers significant advantages. It drastically cuts administrative and legal costs by eliminating redundant license fees and accelerates expansion time from months to as little as five days. Strategically, businesses can now adopt efficient 'hub-and-spoke' models, combining the specialized strengths of different zones, like JAFZA's logistics and DWTC's commercial prestige, under one corporate umbrella,' he added. 'For the wider Dubai economy, the Passport is a strategic tool aligned with the Dubai Economic Agenda (D33). By creating a unified, frictionless ecosystem, it enhances Dubai's global competitiveness against hubs like Singapore and London,' he said. He explained that the initiative is designed to attract higher-value foreign direct investment (FDI) by enabling complex multinational operations to be managed seamlessly from the emirate. 'This move positions Dubai at the forefront of the global value chain, fostering long-term economic growth and solidifying its position as a premier international business destination.' The idea is to strengthen the emirate's position as a global economic hub while enhancing operational efficiency for businesses. Abdalla Al Banna, Vice President of Free Zone Regulatory Operations at DWTC, said the programme enhances Dubai's attractiveness for global enterprises by enabling seamless operations across the city's free zones, 'contributing to Dubai's vision of becoming the world's leading destination for international investment and business setup.' The DWTC Free Zone is home to global companies, innovators, and entrepreneurs across over 40 diverse sectors. It is one of over 30 specialized free zones in Dubai, each designed to support specific industries such as technology, media, finance, healthcare, logistics, and manufacturing. These zones are governed by their own regulatory frameworks and offer 100% foreign ownership, full repatriation of profits, and exemption from corporate taxes and import/export duties. Notable examples include Dubai Multi Commodities Centre, the world's largest free zone for commodities trade; Dubai Internet City, a tech and digital innovation hub; and Dubai International Financial Centre (DIFC) — a leading financial services jurisdiction in the region. These free zones have been pivotal in attracting international companies and startups by offering streamlined setup processes, modern infrastructure, and strategic access to global markets. Each has its own special facilities and infrastructure. For instance, DIFC has financial services frameworks, including banking, fintech support, and legal arbitration facilities. Dubai Design District (d3) and Dubai Media City has creative hubs for content creators, designers, and fashion brands while Dubai Healthcare City, has clinics, labs, and academic medical centers. The One Freezone Passport is one of many initiatives the government is implementing to encourage businesses in these zones. For instance, previously a company in the free zone could operate only within the zone and outside the UAE. It could not conduct its operation in a non-free zone in the UAE. However, back in March, the emirate announced new rules according to which any company or institution licensed by a free zone relevant authority may operate outside the free zone and within Dubai, as long as it obtains the necessary licences or permits from the Dubai Department of Economy and Tourism. Copyright Business Recorder, 2025
Business Recorder
25-07-2025
- Business Recorder
Louis Vuitton becomes first member under Dubai's ‘One Freezone Passport' initiative
Global luxury brand Louis Vuitton has become the first company to leverage Dubai's 'One Freezone Passport' - an initiative aimed at enhancing the ease of doing business across the city's free zones. The initiative provides businesses with 'seamless access to multiple free zones while maintaining a single licence,' it was announced in a statement. Louis Vuitton will now maintain its warehouse operations in Jebel Ali Free Zone while establishing its corporate office at One Za'abeel, part of the Dubai World Trade Centre Free Zone. 'This development highlights the programme's effectiveness in streamlining business expansion across Dubai's economic zones,' the government said. 'The streamlined free zone licence expansion process, completed in just five days, showcases Dubai's efficiency in business setup and operational facilitation,' it added. 'The swift and successful onboarding of Louis Vuitton through this program exemplifies the efficiency and attractiveness of Dubai's regulatory framework for international businesses.', said Dr. Juma Al Matrooshi, Assistant Secretary General at Dubai Free Zones Council. 'By enabling businesses to expand seamlessly across our world-class free zones, we are reinforcing Dubai's reputation as a premier investment destination,' he added. Meanwhile Abdalla Al Banna, Vice President of Free Zone Regulatory Operations at DWTC, said the successful onboarding of Louis Vuitton 'demonstrates both the calibre of businesses Dubai continues to attract and our commitment to fostering an efficient business environment.' 'The company's decision to expand operations into DWTC Free Zone from JAFZA reinforces international confidence in Dubai's business ecosystem.' He explained that the programme enhances Dubai's attractiveness for global enterprises by enabling seamless operations across the city's free zones as it lets companies expand their operational footprint through a 'streamlined and fast-paced process.' The DWTC Free Zone is home to global companies, SMEs innovators, and entrepreneurs across over 40 sectors.
Express Tribune
28-06-2025
- Express Tribune
Louis Vuitton's ship-shaped shop wows the crowd
Louis Vuitton's latest Shanghai store is not your average luxury flagship. The 30-metre-high, ship-shaped store, The Louis, is billed as an experience, and houses an exhibition space and cafe in Shanghai's downtown Nanjing Road shopping strip. The Louis, which had a grand opening on Thursday, will undoubtedly draw crowds eager to post pictures to social media of its gleaming facade and the photo-ready exhibits inside. But LVMH-owned Louis Vuitton will also be hoping it can stimulate sales among Chinese consumers whose spending on luxury goods has slowed. LVMH's business strategy aligns with a broader shift among luxury goods retailers from a transactional model – where a shop merely sells goods to customers – to enticing customers with "experiences" that ultimately spur growth. The stakes are high for the luxury brands, which for years have relied on brisk sales in China to fuel their global growth, and ambitions, but are now facing a slowdown in demand in the world's second-biggest economy. The size of the Chinese market declined more than 18 per cent last year to around 350 billion yuan ($48.80 billion) and sales are on track for a flat performance in 2025, according to estimates from consultancy Bain. Zino Helmlinger, head of China retail at real estate service provider CRBE, acknowledges that the luxury segment as a whole in China has taken "a hit" recently, though he believes the slowdown was expected. "If you look at the megastars – I mean LVMH, Kering, Richemont, Hermès – they almost tripled their profit within five years," he said. "At some point, there is some counterbalancing, there is only so much you can grow, only so much you can generate." In the first quarter, LVMH's revenue in the region that includes China fell 11 per cent on an organic basis – the Asia-Pacific excluding Japan accounts for 30 per cent of the group's total sales. Chinese consumers, hard hit by broader economic uncertainty and a prolonged property market downturn, have tightened spending on discretionary purchases – luxury branded handbags among them. Wall Street extended its rally on Friday, sending the S&P 500 and Nasdaq to all-time closing highs — with each adding half a per cent – while the Dow climbed one percent. Shanghai native Natalie Chen, 31, says she already owns enough "stuff" and has redirected a significant portion of the funds she once used for luxury goods to travel. "Truthfully speaking, I don't feel that buying another bag will improve my life," she said, though she has already visited a new restaurant opened by Prada in Shanghai and intends to check out Louis Vuitton's new cafe concept with girlfriends. "It brings a different kind of feeling than just [shopping] in a mall," Chen said, though she was unsure the ship-shaped store would lead her to make any purchases outside of coffee and cake. Still, the luxury brands are sensing a longer term opportunity to pump-prime sales. While appetite for personal luxury goods in China and around the world is declining, hurt by economic pressures and price fatigue, sales rates of "experiential goods" are rising, according to Bain, which highlighted a surge in personalised luxury hospitality experiences and rising fine dining sales in its spring luxury report. In 2024, for example, the overall personal luxury goods market worldwide fell 1 to 3 per cent even as experiential luxury spending rose 5 per cent, Bain said. Reuters
