Dubai Mall Partially Evacuated After Giant Aquarium Leaks
Reuters reports that the Dubai Mall was partly evacuated when the mall's enormous aquarium started leaking. The Sun reports that the aquarium contains over 400 sharks as well as stingrays and numerous other creatures.
Dubai's civil defence department initially confirmed a crack, but mall owner Emaar Properties later played it down.
Chairman Mohammad Alabbar said: "There was a technical fault in the operating device. A leakage was noticed at one of the panel joints...and was immediately fixed by the aquarium's maintenance team.
"The leakage did not impact the aquarium environment or the safety of the aquatic animals."
The leak looks significant in the video here from The Sun. Hopefully, they will be able to patch it and all the sea creatures will be ok. The aquarium is one of the largest in the world.
Observation Deck Closes Temporarily on Burj Khalifa Tower
The BBC reports that the observation deck on the Burj Khalifa, the world's tallest building has been closed for repairs. The building opened to fireworks just a month ago. The BBC says the tower's builder, Emaar Properties, gives an "unexpectedly high number of visitors" and power supply problems for closing down the tower's observation deck.
The tower's website explains what the observation deck experience is like.
Begin your vertical ascent to the observation deck in a high-speed elevator, travelling at 10 metres per second. As the doors open, floor-to-ceiling glass walls provide a breath-taking unobstructed 360-degree view of the city, desert and ocean. By night, sparkling lights and stars compete for your attention.
Special telescopes provide virtual time-travel visions of the scenes beyond and below. You'll see close-up real-time views as well as the past and the future, by day and by night. You can also walk the entire perimeter for the most comprehensive views. If you wish, adventure outside onto the open-air terrace to enjoy another perspective of the sweeping views below.
Tickets cost $30 if purchased in advance or $100 if purchased at the tower.
A date for the reopening of the observation deck has not been given.
Bloomingdales is opening two stores in Dubai today. Both are located in the Mall of Dubai. One 146,000-square-foot store features men's and women's clothing and accessories. The other will sell home furnishings in a smaller, a 54,000-square-foot space. Bloomingdale's licensed the stores to Al Tayer Group LLC, which is the premiere luxury retailer and distributor in the area.
WWD reports:
"This was a total collaboration, but there is nothing in the stores, from a creative point of view, that Bloomingdale's did not approve," said Michael Gould, chairman and chief executive officer. "What Bloomingdale's stands for is going to be embraced by Dubai."
Gould and his team will be keeping close tabs on the Dubai stores, located in The Dubai Mall, one of the world's largest shopping centers. "We envision a monthly communication -- at least," he said.
*****
"The stores are inspired by 59th Street, with Arabian influences tenderly cushioned throughout. There is a modern, contemporary feel to these stores," said Shireen El Khatib, ceo of Al Tayer Insignia, the luxury arm of the Al Tayer Group. "We have insured that the Dubai Bloomingdale's stores will encapsulate a world-class retail experience including the best international brands, a contemporary store ambience and excellence in customer service."
Pictured above is the 9,000 square foot shoe salon, which is the biggest shoe salon in the region, according to the
Gulf News.
Burj Dubai Opens With Spectacular Fireworks Display
Dubai celebrated the opening of the Burj Dubai, with a spectacular fireworks display. The skyscraper is now the tallest building in the world. Take a look:
Dubai is opening the Burj Dubai skyscraper on Monday. The 2,683 feet tall building will be the world's tallest buildingy. The enormous building is home to apartments, offices, restaurants and gyms. It also contains the Armani Hotel Dubai. The Telegraphreports that the building has been designed so residents will never have to leave.
It has been designed so that those who wish to do so will never have to leave, or even descend below the 108th floor, at about 1,300 feet.
That is the height up to which there will be residential apartments. For work, you can nip to the offices upstairs - anywhere up to the 160th floor, in fact. To eat, you can visit the restaurant on the 122nd, and to exercise you can use the gym on the 123rd, about 1,440 feet off the ground.
The gym has both an indoor and, unnervingly, an outdoor swimming pool.
You can watch a video from the top of the Burj Dubai here. You can find out more about the hotel on the website at burjdubai.com.
Bloombergreports that Dubai Properties Group is committed to completing the Tiger Woods Dubai project despite Tiger Woods' sex scandal and his hiatus from golf.
Tiger Woods Dubai, part of Dubai Properties Group, said it is committed to completing its Al Ruwaya golf course and continues to make progress on the first course created by Woods’s design firm.
"The Tiger Woods Dubai does not comment on the personal lives of our valued partners," Tiger Woods Dubai said today in an e-mailed statement.
The luxury golf destination is to include 22 palaces, 75 mansions, and 100 signature villas.
The Burj Dubai is a skyscraper under construction in Dubai. It is to be the world's tallest tower when it is finished. Here is a video shot by a man from the top of Burj Dubai. It looks really, really high. Take a look:
Louis Vuitton Sets its Sights on Lebanon and Mongolia
Bernard Arnault, the chairman of LVMH Moet Hennessy Louis Vuitton SA, continues his quest for global luxury handbag domination. Louis Vuitton is opening new stores in Lebanon and Mongolia. Yves Carcelle chatted with the press at the opening of LVMH's first "global store" in Dubai. He said that the company is not planning on closing any stores in the next year, nor has it cut its investment in new stores.
"Sometimes in our industry there is a tendency to follow your ego and sometimes open stores where you don't have the market, or stores too big for your potential -- we never do that," Carcelle said. "When we open a big store, we know that there is a market, we know the financials. So we never have to close a store for economic reasons."
*****
The company has opened three stores in Dubai since 1997, and plans to double the size of its outlet in the city's Mall of the Emirates, Carcelle said. Its global store is in Dubai Mall, the world's largest shopping centre, which opened last year.
"Dubai is a very dynamic city," he said. "At the end of the day, when it comes to the crisis, the client finds the situation of retail in Dubai very good."
*****
Bernard Arnault, the chairman of LVMH, will start a visit to the United Arab Emirates tomorrow.
Dubai we understand. Lebanon makes sense. But Mongolia? The Age reports that the Louis Vuitton store has already opened in Ulaanbaatar, which contrasts oddly with all the Soviet-era communist style buildings. The city already has a BMW dealership, a Mercedes Benz dealership and a Dior boutique and is home to one million people. Luxury stores are thriving. But many people still live in yurts and 30% of the population lives below the poverty level. Whatever would Ghengis Khan have thought?
Candylicious to Open World's Largest Candy Store in The Dubai Mall
Dubai-based Candylicious is opening
the world's largest candy store in The Dubai Mall. The Gulf region is known for loving sweets and Candylicious wants to be the top destination for candy lovers.
Candylicious, which initially opens in one of the world's largest shopping centers, The Dubai Mall, is also planning a second store in Singapore early next year, Sunaina Gill, director of Retail Is Detail, a Singaporean family business in Dubai told Reuters on Wednesday.
"We are planning 10-15 stores in the Gulf Arab region over the next 3-5 years, with additional stores to open in Dubai and Abu Dhabi in the next 12 months," said Gill.
*****
In addition to its sweets, the 10,000 square foot store features a huge 10-meter singing chocolate tree decorated with lollipops.
Customers will not need to necessarily have venture into the store to taste the candy. The store will also employ "Candylicious Junior," a car that will circle the mall.
Good grief. There will be no leaving The Dubai Mall without buying some candy. If you manage to avoid temptation at the candy emporium, just when your guard is down the Candylicous Junior car will sneak up on you and tempt you once again.
Future of Dubai's Ambitious World Project in Doubt
The Times Online recently ran a story that gives a grim assessment of the status of Dubai's ambitious The World project. The World was intended to be a map of the world recreated as 300 islands. Instead, The Times says the project has stopped and all that remains are "sandy blots."
Mile after mile of breakwater built from boulders brought hundreds of miles by ship has been laid, but inside its man-made lagoon, work has completely stopped. The expected map of the world of 300 islands is instead a disjointed and desolate collection of sandy blots - a monumental folly just out of sight of Dubai's shore.
Those who bought into what was the world’s most ambitious building project were not celebrities. Many were more ordinary investors who put down 70 per cent deposits, some of them Anglo-Indians. John O'Dolan, who fronted a consortium that bought Ireland in 2007 for $38 million (£27 million), committed suicide earlier this year. The others have little prospect of seeing a return. Now The World has stopped they can't get off.
"The World has been cancelled. It doesn’t even look like the world. Basically there is one island that is maintained that is said to be owned by the Sheikh [Dubai's ruler] and the rest looks like a pile of muck," said one local property agent.
There are also reports - see here and here - that the island projects have led to environmental problems in addition to financial ones.
The New York Daily News also reports that $300 billion worth of construction to create the islands is on hold. With the economy still sputtering it is hard to see where that kind of money is going to come from to restart the project in the near future. There is one more positive article here that says Safi Qurash - the owner of the Great Britain island - plans to build something on it.
In an effort to get the ailing retailer back on track, the Dubai-based owners of Barneys have hired an asset management company to restructure the company's debt. Istithmar World Capital has also infused $25 million into the company to allow shipments of merchandise and to allay fears that Barneys wouldn't be able to pay its bills.
Now Barneys is moving to further ease the financial pressure, tackling a 500-pound gorilla. On Tuesday, Perella Weinberg Partners, an asset management company, was hired to help restructure the retailer's debt. On the books, there is about $500 million in long-term debt, including a $270 million term loan maturing in 2014 and a mezzanine loan of about $230 million maturing in mid-2016. There also is revolving credit debt, which, based on available working capital, varies from month to month and matures in 2012. The balance is currently $80 million. Barneys' lead banks are Citibank, Wells Fargo and HSBC.
Interest costs, depreciation and sales declines put Barneys in the red last year on a net basis, though the chain made money on an earnings before interest, taxes, depreciation and amortization basis. As for 2009, the company, with seven flagships, two regional stores, 19 Co-ops, 13 outlets and three warehouse sale locations, is projected to reach sales of about $675 million, down from $750 million last year, but generate a small operating profit.
*****
Like other retailers, particularly those purveying luxury, Barneys has been deeply impacted by the recession. However, the store's current management structure — without a chairman, ceo or chief operating officer — makes it unique.
Instead, a senior operating committee, comprising the chain's seven executive vice presidents, is running the show. They represent the top tier inside the chain and are all veterans of the organization, with anywhere from 13 to 30 years' tenure. The committee meets weekly, usually Tuesday mornings, in the 11th-floor conference room at Barneys headquarters at 575 Fifth Avenue in New York, to tackle anything from cost cutting, sales trends and merchandise receipts to advertising or when to break into sale mode. A formal agenda for each meeting is prepared by the chief financial officer with input from the other executives. After going through the agenda, each executive vice president can bring up any significant matter pertaining to his or her area of responsibility.
It's unheard of for a major retailer not to have a CEO to run things, but the Barneys execs are soldiering on. Right now the company is focusing on the opening of its eighth flagship store in October in Scottsdale, Arizona. The store will be expensively decorated, with stone and mosaic floors, a dramatic staircase and Fred's restaurant (pictured above).
Episode of Paris Hilton's My New BFF Dubai Filmed at Salam Stores
An episode of Paris Hilton's My New BFF Dubai reality tv show was filmed at Salam Stores in Wafi, Dubai. Salam Stores is a boutique department store concept in the Middle East with stores in Oman, Qatar and UAE. Salam Stores got dolled up in Paris Hilton's favorite color pink. A 42-meter pink carpet was rolled out to welcome Paris and her entourage for a VIP-only filming of the show.
"As an icon of fashion and style excellence we are always keen to enrich the lifestyle experience of our customers. This exciting event and sponsorship with Paris Hilton's My New BFF Dubai is an affirmation of our commitment to putting Dubai in the international style arena," said Bassam Abou Issa, Executive Director Business Development, Board Member of Salam International.
Bloombergreports that Paris Hilton is switching her cell phone from a BlackBerry to a Sony Ericsson phone. This is because Sony Ericsson Mobile Communications Ltd. is sponsoring her new BFF reality show that is to be filmed in Dubai.
Hilton is on her first visit to the Middle East as she targets the region as a new market for her brand. Dubai, one of seven sheikhdoms in the United Arab Emirates, has become the region's most cosmopolitan city as it built offices and hotels to attract global companies such as Goldman Sachs and Halliburton Co.
She was given five Sony Ericsson handsets, Hilton said.
"One is even like a watch with a phone on it and it's so cool," she said. "So I'm switching my BlackBerry to Sony Ericcson today. Sorry BlackBerry, I'm now a Sony Ericcson user and very excited."
Following an infamous appearance in a sex tape posted on the Internet, Hilton's career as a celebrity has included acting, singing, clothing lines and a perfume.
Bloomberg also says Paris Hilton is property hunting in Dubai and quotes Paris as saying she would love to launch a hotel in Dubai. Paris Hilton greeted the press in Dubai wearing a lime-green, Arabian gown and an ornate headdress.
Chanel Iman is the cover model for the May issue of Harper's Bazaar Dubai. Chanel posted the photo of the cover here on Twitpic from her Twitter account.