Start-up of the Week: Tamashee: A luxury footwear brand that blends charity and tradition

Updated 17 April 2018
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Start-up of the Week: Tamashee: A luxury footwear brand that blends charity and tradition

  • Tamashee is a luxury footwear brand with a charitable element based in Dubai
  • Tamashee directly funds projects that aim to increase awareness of people with Down syndrome

JEDDAH: Emirati Mohammed Kazim and Saudi Muneera Al-Tamimi are the brains behind Tamashee, a luxury footwear brand with a charitable element based in Dubai with multiple locations in Riyadh and Jeddah.
Tamashee has taken the Arabian sandal, commonly known as madaas or zbairiya, and revolutionized its comfort and fashion style while preserving its strong Arab cultural identity.
Kazim said: “We are reviving the forgotten cultural components in a contemporary manner.”
The brand is driven by three social aspects: “Preserving Identity,” “Representing Culture” and “Coloring Lives.” The latter is a motto attributed to its most important value, its charitable feature.
By donating some of the profits to special-needs organizations, it increases social awareness and amplifies their global voice.
Kazim understands the importance of establishing a business that continuously benefits society. For Tamashee, it is all about giving back.
Media reports quoted him as saying: “A portion of the proceeds from every purchase of a Tamashee product directly funds projects that aim to increase awareness of people with Down syndrome.”
He constantly finds product inspiration through his extensive travels. It is paramount to the brand’s identity.
He collects stories, traditional colorful design patterns, techniques and materials, and incorporates them into a product.
Examples of this can be seen in how Tamashee includes the hijri date onto every sandal, and integrates metal rings in place of the buckle for the women’s line.
The signature turquoise sole lining on its footwear products aims to revive a traditional color that was prevalent in the region’s past.
From clothing to architecture, turquoise is deeply rooted in the culture of the Arabian Peninsula.
Tamashee integrates a subtle yet culturally rich story in every collection piece. Its products are handmade in Spain using the highest-quality leathers that are both natural and naturally dyed.
The leathers — from camel, cow, ostrich and lamb skin — are collected from the UAE, Italy, South Africa and Spain, respectively.
Tamashee has expanded its product range to include leather sunglasses, shaving kits, laptop sleeves and other accessories.
Along with the online store at www.tamashee.com, its products can be found at Rubaiyat in Jeddah’s Stars Avenue Mall, and at Draft Thoughts in Riyadh’s Centria Mall.
You can follow Tamashee on Instagram for the latest merchandise updates at www.instagram.com/tamashee


Asia’s refining profits slump as Mideast exports surge

Updated 23 February 2019
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Asia’s refining profits slump as Mideast exports surge

  • Since 2006, the Asia-Pacific has been the world’s biggest oil-consuming region, led by industrial users South Korea and Japan along with rising powerhouses China and India
  • However, overbuilding of refineries and sluggish demand growth have caused a jump in fuel exports from these demand hubs

SINGAPORE: Asia’s biggest oil consumers are flooding the region with fuel as refining output is exceeding consumption amid a slowdown in demand growth, pressuring industry profits.
Since 2006, the Asia-Pacific has been the world’s biggest oil-consuming region, led by industrial users South Korea and Japan along with rising powerhouses China and India.
Yet overbuilding of refineries and sluggish demand growth have caused a jump in fuel exports from these demand hubs.
Compounding the supply overhang, fuel exports from the Middle East, which BP data shows added more than 1 million barrels per day (bpd) of refining capacity from 2013 to 2017, have doubled since 2014 to around 55 million tons, according to Refinitiv.
Car sales in China, the world’s second-biggest oil user, fell for the first time on record last year, and early 2019 sales also remain weak, suggesting a slowdown in gasoline demand.
For diesel, China National Petroleum Corp. in January said that it expected demand to fall by 1.1 percent in 2019. That would be China’s first annual demand decline for a major fuel since its industrial ascent started in 1990.
The surge in fuel exports combined with a 25 percent jump in crude oil prices so far this year has collapsed Singapore refinery margins, the Asian benchmark, from more than $11 per barrel in mid-2017 to just over $2.
Combine the slumping margins with labor costs and taxes and many Asian refineries now struggle to make money.
The squeezed margins have pummelled the stocks of most major Asian petroleum companies, such as Japan’s refiners JXTG Holdings Inc. or Idemitsu Kosan, South Korea’s top oil processor SK Innovation, Asia’s top oil refiner China Petroleum & Chemical Corp. and Indian Oil Corp., with some companies dropping by about 40 percent over the past year. Jeff Brown, president of energy consultancy FGE, said the surge in exports and resulting oversupply were a “big problem” for the industry.
“The pressure on refinery margins is a case of death by a thousand cuts ... Refinery upgrades throughout the region are bumping up against softening demand growth,” he said.
The profit slump follows a surge in fuel exports from China, India, Japan, South Korea and Taiwan. Refinitiv shipping data shows fuel exports from those countries have risen threefold since 2014, to a record of around 15 million tons in January.
The biggest jump in exports has come from China, where refiners are selling off record amounts of excess fuel into Asia.
“There is a risk for Asian market turmoil if (China’s fuel) export capacity remains at the current level or grows further,” said Noriaki Sakai, chief executive officer at Idemitsu Kosan during a news conference last week.
But Japanese and South Korean fuel exports have also risen as demand at home falls amid mature industry and a shrinking population. Japan’s 2019 oil demand will drop by 0.1 percent from 2018, while South Korea’s will remain flat, according to forecasts from Energy Aspects.
In Japan, oil imports have been falling steadily for years, yet its refiners produce more fuel than its industry can absorb. The situation is similar in South Korea, the world’s fifth-biggest refiner by capacity, according to data from BP.
Cho Sang-bum, an official at the Korea Petroleum Association, which represents South Korean refiners, said the surging exports had “triggered a gasoline glut.”
That glut caused negative gasoline margins in January.