Sustainable fashion is not a trend, it’s a necessity, says e-commerce platform chief

The first of its kind, the e-commerce platform  Plain Tiger curates leading ethical and sustainable fashion, beauty and home decor brands from across the world. Shutterstock
The first of its kind, the e-commerce platform Plain Tiger curates leading ethical and sustainable fashion, beauty and home decor brands from across the world. Shutterstock
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Updated 27 November 2021

Sustainable fashion is not a trend, it’s a necessity, says e-commerce platform chief

Sustainable fashion is not a trend, it’s a necessity, says e-commerce platform chief
  • E-commerce platform with environment at heart of its strategies

DUBAI: For many, sustainable fashion is an interest or trend. For the founders of global sustainable e-commerce platform Plain Tiger, it’s a necessity.
In the middle of the night, Oliver Baillie woke up in his new home in South Africa to find strange men in his house. He began thrashing, worried it was a robbery until his wife, Alexandra Baillie, explained it was the paramedics. He had had a seizure and needed to be taken to hospital immediately.
The prognosis wasn’t good; a brain tumor — with no prior symptoms – was the cause. Following surgery and treatment, it led to a year of healing practices for the entrepreneur, who had recently moved to Cape Town after a long career heading international operations at a leading British bank based in Dubai. 
“What I learned is that what’s good for the body is also good for the planet,” said Baillie, the co-founder and CEO, during the regional soft launch at the Mandarin Oriental Jumeirah in Dubai.

“A plain tiger is an orange butterfly found in the region and ‘they’ say seeing one signifies positive change. They kept landing on our conference room window as we were building the business. And so, we named the brand Plain Tiger: A global platform for conscious luxury lifestyle products.”
The first of its kind, the platform curates leading ethical and sustainable fashion, beauty and home decor brands from across the world. Many of the 185 brands are exclusively available through Plain Tiger in the Middle East and North Africa and represent the most carefully crafted products from over 20 countries across six continents. These are brands on the rise in cities like Paris, London, Milan, Sydney and New York.
“At a time when sustainability has such a strong focus in the region, it’s the perfect time to be launching in MENA,” said Baillie, who now moved back to Dubai with his wife. “Governments like those of the UAE and Saudi Arabia are driving positive change, and businesses are looking to improve their environmental impact.”  
Last month, Saudi Arabia’s crown prince launched a Middle East Green Initiative, aimed at raising $10.4 billion for an investment fund and clean energy projects to reduce carbon emissions. Meanwhile, the UAE will play host to global climate summit COP 28 in 2023. The steps are in place and brands like Plain Tiger have a true opportunity to make a difference.
The brand is also launching a sustainability accelerator in the region, inviting local startups to assess their ethical practices at early stages of building their businesses.
“Sustainability is a buzzword that can be thrown around, but we have really stringent requirements for brands hosted on our e-commerce platform,” said Baillie.
At a time when many businesses are still setting strategies to become net zero, Plain Tiger has already secured a “climate positive” status. Each order made has a positive impact on the environment thanks to Plain Tiger’s three-part strategy: Conscious product curation, minimizing company carbon emissions, and offsetting double the remaining carbon emissions by investing in reforestation projects in Uganda and Brazil through their partnership with leading offset provider Pachama. 
Plain Tiger also has a 70 percent female team. The featured designers and manufacturers are all selected for their expertise in their craft and commitment to ethical and sustainable practices, often leveraging processes steeped in tradition and indigenous ingredients or materials. Transparency and traceability is key to Plain Tiger’s ethos. 
“We believe you should know the hands that made your products,”  said co-founder and director, Alexandra Baillie. Her background in luxury retail includes Estee Lauder, La Mer and The Four Seasons spas.
From the packaging to the material, any product purchased on the site holds a promise of ethical luxury. Add to that the passion of the founders and you’ve got powerhouse potential with a lot of heart, too.


Turkey Dream Games triples in valuation after raising $255m in funding

Turkey Dream Games triples in valuation after raising $255m in funding
Updated 19 January 2022

Turkey Dream Games triples in valuation after raising $255m in funding

Turkey Dream Games triples in valuation after raising $255m in funding
  • Turkish mobile gaming start-up Dream Games raised an unprecedented $255 million in its latest Series C funding round

RIYADH: Turkish mobile gaming start-up Dream Games raised an unprecedented $255 million in its latest Series C funding round, almost tripling its valuation to $2.75 billion in six months, MAGNiTT reported.

This round of funding was led by Index Ventures, subscribed by returning investors such as Makers Fund, IVP, Kora, Balderton Capital and managed by BlackRock.

The company plans to use the funds for doubling its headcount to 200 people and launch a new game this year.

Founded in 2019, Istanbul-based Dream Games is a mobile gaming company that developed Royal Match — one of the highest grossing mobile games.


UAE, Saudi Arabia, Qatar top competitive economies in the Arab World: AMF

UAE, Saudi Arabia, Qatar top competitive economies in the Arab World: AMF
Updated 19 January 2022

UAE, Saudi Arabia, Qatar top competitive economies in the Arab World: AMF

UAE, Saudi Arabia, Qatar top competitive economies in the Arab World: AMF
  • The United Arab Emirates, Saudi Arabia, and Qatar were ranked the most competitive Arab economies

RIYADH: The United Arab Emirates, Saudi Arabia, and Qatar were ranked the most competitive Arab economies for the period between 2017 until 2020, according to a report launched by the Arab Monetary Fund.

The fifth Arab economies competitiveness report showed that the UAE maintained its top ranking in the general index as it benefited from high scores in the business environment and infrastructure category as well as the organizational and government governance category.

The Kingdom ranked second after having performed well in the overall economic index, the external activities sector and the official reserves index.

Qatar followed in third place, after attaining first place in the real economy sector, the inflation index and GDP per capita index.

Four Arab nations advanced in terms of competitiveness compared to the previous period, including Sudan, Egypt, Morocco, and Mauritania.

Arab states and other non-Arab countries — such as Singapore, Malaysia, Turkey — are included also in the calculation of the index.

The report monitors the economic competitiveness of Arab countries and sheds light on the economic and political measures applied by decision makers for that purpose.


TRSDC closes financing for $3.76bn loan from four Saudi banks

TRSDC closes financing for $3.76bn loan from four Saudi banks
Updated 19 January 2022

TRSDC closes financing for $3.76bn loan from four Saudi banks

TRSDC closes financing for $3.76bn loan from four Saudi banks

RIYADH: Saudi Arabia's The Red Sea Development Co., or TRSDC, announced the financial closure of a SR14.12 billion ($3.76 billion) loan with four Saudi banks.

The financing will be in a form of a term loan facility and a revolving credit facility.

TRSDC, which is developing the world's largest sustainable tourism project, has obtained the loan from Saudi National Bank, Riyad Bank, Banque Saudi Fransi, and Saudi British Bank, according to a statement.

“This year, we have proceeded at pace with the delivery of our flagship project, all the while mindful of our commitment to not only reduce our impact on the environment but actively deliver a 30 percent net conservation benefit by 2040,” explained John Pagano, chief executive officer of The Red Sea Development Company.

GFC Media Group have recently awarded TRSDC’s Green Financing as Project Finance Deal of Year in the Capital Markets Saudi Arabia Awards.


Egypt achieves a $204m initial budget surplus in six months 

Egypt achieves a $204m initial budget surplus in six months 
Updated 19 January 2022

Egypt achieves a $204m initial budget surplus in six months 

Egypt achieves a $204m initial budget surplus in six months 

RIYADH: Egypt’s general budget achieved an initial surplus of 3.2 billion Egyptian pounds ($204 million) during the first six months of the 2021/22 fiscal year, the minister of finance said. 

Mohamed Maait added that revenues grew by 10.3 percent on an annual basis during that period, while tax revenues increased by 15.7 percent, the Middle East News Agency reported. 

He also said that Egypt targets a budget deficit of 6.6 percent in the 2021/22 fiscal year and a primary surplus of 1.5 percent of gross domestic product. 

The minister’s comments came during the cabinet meeting held on Wednesday by the prime minister Mostafa Madbouly, to review the financial performance indicators during the six months period. 


UAE Barakah nuclear plant to reduce 22.5m tons of annual carbon emissions

UAE Barakah nuclear plant to reduce 22.5m tons of annual carbon emissions
Updated 19 January 2022

UAE Barakah nuclear plant to reduce 22.5m tons of annual carbon emissions

UAE Barakah nuclear plant to reduce 22.5m tons of annual carbon emissions

The UAE-based Barakah nuclear power plant is to reduce carbon emissions by a total of 22.5 million tons annually.

The figure represents a 6 percent increase when compared to previous calculations, however.

“The UAE's decision to add nuclear energy to the portfolio of energy sources shows its positive results today. The Emirates Nuclear Energy Corporation is moving forward to make the largest contributions aimed at achieving the goals of climate neutrality in the country by 2050,” WAM reported, citing Mohamed Ibrahim Al Hammadi, managing director and CEO of the nuclear energy firm.

Carbon emissions in Abu Dhabi are expected to decrease by 50 percent by 2025 as a result of operating the four Barakah plants at full capacity, launching new and large-scale solar energy projects, and increasing the efficiency of water desalination operations in the city.

Barakah will provide more than 85 percent of green electricity in Abu Dhabi by 2025.

When fully operational, Barakah will produce 5.6 gigawatts of electricity without any carbon emissions.