Michel Chalhoub Founder of Chalhoub Group Passes Away
- Publish date: Thursday، 22 December 2022
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Michel Chalhoub, founder and chairman of Dubai-based luxury retailer Chalhoub Group, has passed away at 89.
The late Syrian chairman had originally founded the group in 1955 back in Damascus, Syria.
Michel Chalhoub, our founder passed away. We mourn an exceptional visionary, a pioneer, a passionate and daring entrepreneur and an inspirational leader. We will honor his legacy which always inspired us.
— Chalhoub Group (@ChalhoubGroup) July 31, 2021
May his soul rest in peace.#RememberingMichelChalhoub pic.twitter.com/JWkNc9clOy
In 2001, Michel’s two sons, Anthony and Patrick, took over as co-chief executives of the group. However, Patrick became the sole chief executive in 2018 after the death of his brother.
According to Forbes, Chalhoub’s net worth is $1.1 billion while his luxury goods retailer and distributor has more than 750 retail shops in the region that sell brands LVMH brands such as Chanel, Louis Vuitton and Christian Louboutin.
The Chalhoub Group represents more than 300 other brands that include Sephora, Tod’s, Michael Kors, L’Occitane, Lacoste and Tory Burch.
“It is with deep sadness that we inform you of the passing of Michel Chalhoub, Chalhoub Group’s founder and chairman, at the age of 89 years,” the company's board of presidents said in a July 31 statement that was seen by The National.
“A visionary leader who saw the potential of the Gulf countries since the 1950s, embarked on a journey with his wife Widad to start the story of Chalhoub Group together. An ambassador of luxury who introduced many prestigious brands in the Middle East, [he] sparked a taste for exceptional products and brands in the region and greatly contributed to the shaping of the luxury market as we know it today.”
The luxury retailer employs about 12,000 workers in 14 countries.
The company said its founder was a "a resilient entrepreneur who established the group’s business and had to rebuild it after several historic events of turmoil and crisis. A passionate, dedicated and generous man who leaves behind a solid foundation and a legacy that will long serve to inspire us … A loving husband and a doting father, grandfather and great grandfather”.
This article was previously published on UAE Moments.To see the original article, click here