Rabih Fakhreddine, founder and CEO of 7 Management, has always had a passion for the food and entertainment industry. As a trailblazing restaurateur, he evaluates the state of the industry and shares a few trade secrets.
How would you describe the current state of the industry and what trends do you foresee in its growth globally?
The F&B industry is currently experiencing dynamic growth, driven by evolving consumer preferences and technological advancements. Firstly, there is a strong trend toward health-conscious, sustainable and locally sourced products, reflecting growing awareness of health, environmental concerns and food provenance. Moreover, plant-based alternatives and functional foods are gaining popularity. Additionally, innovative food technologies, like lab-grown meats and AI-driven personalization in nutrition, are on the rise. Furthermore, globalization continues to influence culinary diversity, thereby introducing new flavors and fusion cuisines. Looking ahead, sustainability and technology integration will likely remain key drivers in shaping the industry’s future growth.
In your view, what are the primary challenges faced by the industry in the UAE and KSA and how can they be addressed?
In the UAE and KSA, the F&B industry’s primary challenge is intense competition. Thus, it necessitates creativity and distinctive themes to stand out. Firstly, businesses can thrive by innovating unique dining experiences and concepts that resonate with cultural and contemporary trends. By crafting memorable themes with tradition and innovation, establishments can stand out in vibrant markets, delivering unparalleled service and experiences. To overcome challenges, businesses must invest in market research and customer engagement for a compelling brand narrative and ambience development.
Based on your insights, what are your projections for the future growth of the industry, both globally and specifically in the UAE?
Globally, the industry is set for innovative growth, fueled by technology, sustainability and health trends. Firstly, in the UAE, the sector is likely to see substantial growth driven by diversification policies. Notably, a focus on sustainable practices and a shift toward local production. Moreover, technological advancements, including AI and vertical farming, will play a crucial role both globally and in the UAE. Additionally, the industry is also expected to adapt to changing consumer preferences and environmental challenges. There is an emphasis on eco-friendly initiatives and meeting the demands of a health-conscious population.
Are there any upcoming developments or trends that businesses should prepare for in the coming years?
The industry’s businesses should prepare for trends like increased sustainability and eco-friendliness. In addition to the rise in health and wellness awareness and the growing popularity of plant-based and alternative proteins, as well as the surge of technological integration, including AI and blockchain. E-commerce growth, global culinary appeal, regulatory compliance, personalized consumer data use, local sourcing and addressing food security are crucial considerations for success. Adapting to these trends is crucial for success in the rapidly evolving industry landscape.
What are 7 Management’s latest expansion plans?
Well, 7 Management is actively broadening its presence, launching new locations across the UAE, Qatar, Greece and Lebanon. We will debut TAMADA in the UAE, in collaboration with Ennismore, at SLS Dubai in late 2023. This venue will be joined by Bagatelle in Four Seasons Astir Marina in Athens in 2024. Moreover, in its expansion into Saudi Arabia, 7 Management will operate seven themed restaurants for Joël Robuchon on NEOM’s luxury island of Sindalah.
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