Luxury redefined: VZ Bespoke committed to Saudi Arabia’s Vision 2030

Luxury redefined: VZ Bespoke committed to Saudi Arabia’s Vision 2030
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Updated 10 November 2024
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Luxury redefined: VZ Bespoke committed to Saudi Arabia’s Vision 2030

Luxury redefined: VZ Bespoke committed to Saudi Arabia’s Vision 2030

As Saudi Arabia embarks on a historic transformation under Vision 2030, VZ Bespoke is positioning itself as a key player in the Kingdom’s evolving luxury, tourism, and entertainment sectors. Co-founders Andrea Zagatti and Alberto Verdulli bring over 15 years of experience serving ultra-high-net-worth individuals, celebrities, and royals, aligning their bespoke services with Saudi Arabia’s vision to diversify its economy and elevate its global standing.

Built on a Michelin three-star philosophy, VZ Bespoke redefines luxury with tailor-made experiences, concierge solutions, and exclusive access to the most precious black book in the world. Focused on delivering elite services, VZ Bespoke is set to make a significant impact on the Kingdom’s luxury tourism industry. “Saudi Vision 2030 is reshaping the Kingdom’s economy and culture, and we see a tremendous opportunity to contribute to its growth,” says Zagatti. The company’s bespoke services — from luxury tourism to exclusive entertainment — are perfectly suited to Saudi Arabia’s evolving landscape.

Elevating Luxury Tourism

Tourism is a key pillar of Vision 2030, with Saudi Arabia aiming to attract global visitors through its rich cultural heritage and future mega-projects. VZ Bespoke, with its expertise in curating ultra-luxury experiences, is well-positioned to cater to the needs of discerning travelers. Zagatti said: “Saudi Arabia is becoming a top destination for luxury travelers. We create experiences that are not just luxurious but also deeply rooted in the Kingdom’s culture.”

In alignment with Saudi Arabia’s vision, VZ Bespoke is exploring partnerships with top entities involved in the Kingdom’s most ambitious projects, such as Red Sea Global and NEOM. Verdulli said: “Our close collaboration with key stakeholders allows us to provide unique, high-end experiences, ensuring our clients experience Saudi Arabia in a way that is both luxurious and reflective of its remarkable transformation.”

Sports, Entertainment and F&B

Vision 2030 places a strong emphasis on sports and entertainment development, and VZ Bespoke is contributing to this sector by bringing world-class events to the Kingdom. “We organize private concerts, exclusive dinners, and VIP experiences. Saudi Arabia’s ambitious agenda in sports and entertainment aligns with what we do best — creating unforgettable, high-profile events,” said the founders.

In addition to curating elite experiences, VZ Bespoke is uniquely positioned to introduce innovative concepts and projects that can further boost Saudi tourism, reinforcing its status as a premier destination for luxury and entertainment. “We have access to incredible ventures eager to launch in the Kingdom, and we’re excited to bring these pioneering ideas to Saudi Arabia,” said Zagatti. Whether it’s VIP access to sold-out events or exclusive meet-and-greet opportunities, VZ Bespoke ensures that their clients enjoy only the most elite, tailored experiences while contributing to the country’s ambitious vision for the future.

Exclusive Memberships

At the core of VZ Bespoke’s offerings is an exclusive membership program that delivers personalized lifestyle management for UHNWIs, crafted uniquely for each client. “Our memberships are entirely bespoke, tailored to the needs of each client,” said Zagatti. The VZ Private Membership, limited to just 12 clients per year, offers a tailored experience including bespoke travel, private VIP events, access to exclusive off-market assets, and high-level personal solutions. With a £25,000 ($32,490) entry fee and an annual membership fee of £25,000 credited toward services, members gain access to VZ Bespoke’s coveted “black book” of strategic opportunities.

For the elite few, the VZ Corporate Membership extends these luxury services to top clients and executives in select corporations, including private banks, law firms, and family offices. Limited to only six corporate memberships annually, this tier provides access to rare events, asset sourcing, bespoke travel, and priority event coordination, all customized to the firm’s specific portfolio. Membership fees are tailored based on service needs, operating as a credit pool for flexible access.

At the pinnacle, the VZ Club is a sanctuary of privilege, limited to one member each year. With a 1-million-pound entry fee and annual membership, this tier offers boundless, all-encompassing support from VZ Bespoke’s “black book” and a world of bespoke experiences and strategic introductions. Entry to any VZ Bespoke membership is by invitation or referral only, creating a highly curated, exclusive community.

Aligning with Vision 2030

As Saudi Arabia forges ahead with its bold Vision 2030, VZ Bespoke is set to be a driving force in the Kingdom’s remarkable transformation. “We’re not just delivering luxury services — we’re defining the future of opulence and exclusivity in Saudi Arabia,” said Zagatti. From ultra-exclusive tourism to cutting-edge solutions and innovation, VZ Bespoke is deeply aligned with the Kingdom’s ambitious vision, elevating every experience to new heights of sophistication.

Verdulli added: “Vision 2030 is the perfect marriage of ambition and opportunity. We’re thrilled to be part of this groundbreaking journey and are committed to reshaping what luxury means in Saudi Arabia, setting a new global standard.”


Eyeing KSA’s $1.1bn rice market, LT Foods opens Riyadh office

Eyeing KSA’s $1.1bn rice market, LT Foods opens Riyadh office
Updated 02 December 2024
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Eyeing KSA’s $1.1bn rice market, LT Foods opens Riyadh office

Eyeing KSA’s $1.1bn rice market, LT Foods opens Riyadh office

LT Foods Ltd., a global fast-moving consumer goods company in the consumer food space, has announced its official entry into Saudi Arabia with the inauguration of a new office in Riyadh. 

The goal is to tap the $1.1 billion rice and rice-based food market in the Kingdom.

The move is part of the company’s strategic vision of expanding its global footprint to newer geographies. Today, LT Foods generates $1 billion in global revenue, demonstrating an established track record of sustained year-on-year profit growth. It has delivered 18 years of revenue compound annual growth rate of 18 percent and a profit CAGR of 21 percent.

With its new office in Riyadh, the company is set to revolutionize the rice market in Saudi Arabia and meet consumers’ growing demand for authentic and premium rice and rice-based food products. The new office will act as a hub for LT Foods’ regional operations, enabling the company to leverage its deep expertise in rice and rice-based food products that align with Saudi-based consumers’ tastes and culinary traditions.

LT Foods plans to invest SR185 million ($49.2 million) in warehousing, stocks, and people over the next five years in the Kingdom. It is eyeing a revenue of SR435 million over the next five years. With Saudi Agricultural and Livestock Investment Company as a key shareholder, LT Foods is also gearing to set up local manufacturing facilities in the Kingdom.

Vijay Arora, chairman and managing director, LT Foods, said: “We have built successful businesses in every market where we have set up our operations. We have provided quality products and premium food offerings to consumers. LT Foods has also added significant value to the economy and to its operations. We are now very excited to expand our footprint in Saudi Arabia. Our trusted brands — Daawat, Hadeel and Mufaddal — have long been a part of the Kingdom of Saudi Arabia. With SALIC being a strategic shareholder in LT Foods, we are now expanding our footprint in the Kingdom with warehouses and are prepared to establish local manufacturing.”

Gursajan Arora, CEO — Middle East Business, LT Foods, said: “Saudi Arabia is one of the largest importers of rice and a key market for us. We see tremendous potential for growth in the market and are excited to bring our legacy of quality, innovation, and trust to the region. With our Riyadh office, we aim to deepen our connections with local consumers and partners, tailoring our offerings to meet their specific preferences. We are confident in our ability to strengthen our market presence, drive sustainable growth, and continue delivering exceptional value to all our stakeholders.”


SADAFCO-MODON partnership to drive sustainable development

SADAFCO-MODON partnership  to drive sustainable development
Updated 02 December 2024
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SADAFCO-MODON partnership to drive sustainable development

SADAFCO-MODON partnership  to drive sustainable development

Saudia Dairy and Foodstuff Company, known as SADAFCO, and the Saudi Authority for Industrial Cities and Technology Zones, or MODON, have signed a memorandum of understanding to advance sustainable development and enhance collaborative efforts.

Brian Strong, SADAFCO’s chief transformation officer, signed the agreement with Majed bin Rafed Al-Arqoobi, MODON’s CEO. The partnership signifies a commitment to mutual knowledge-sharing, operational collaboration, and environmental responsibility.

The MoU outlines several key areas of collaboration:

• Knowledge exchange: SADAFCO and MODON will exchange expertise to enhance efficiencies and develop best practices in their respective sectors.

• Joint workshops and training: Both organizations will host workshops and training sessions that cater to shared goals, enhancing skill development and fostering continuous learning.

• Consultancy and studies: The two parties will collaborate on studies and advisory services, exploring new solutions to drive operational excellence and address industry challenges.

• Public relations and media: SADAFCO and MODON will work together on public relations initiatives that highlight their commitment to sustainable industrial growth.

Central to this partnership is the support for the “Green Saudi Cities” initiative, which aims to develop green spaces, including playgrounds and parks, near Jeddah’s industrial residential areas. 

“This MoU reflects our dedication to community-centric sustainable growth. By working with MODON, we hope to foster environments that benefit the people and support Vision 2030’s goals of environmental responsibility,” said Strong.

Al-Arqoobi added: “Our collaboration with SADAFCO aligns with MODON’s mission of building sustainable, community-oriented spaces. Together, we are working to create industrial cities that enhance quality of life and support the Kingdom’s long-term vision.”

The partnership underscores a shared commitment to creating positive, sustainable impacts within Saudi Arabia’s industrial landscape.


VTB’s ‘Russia Calling!’ forum on Dec. 4-5

VTB’s ‘Russia Calling!’ forum on Dec. 4-5
Updated 02 December 2024
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VTB’s ‘Russia Calling!’ forum on Dec. 4-5

VTB’s ‘Russia Calling!’ forum on Dec. 4-5

The 15th VTB Investment Forum “Russia Calling!” will take place on Dec. 4-5 in Moscow. The theme of the forum is “The future of capital and the capital of the future.” 

Traditionally, Russian President Vladimir Putin will deliver his keynote speech at the plenary session on the first day of the forum. He will answer questions from delegates representing the finance and investment communities of China, India, Turkiye, the Gulf states, Africa, Central and Southeast Asia, and other world regions. Andrey Kostin, president and chairman of the management board of VTB Bank, will moderate the session.

“Russia is demonstrating resilience in demanding circumstances as it adapts to macroeconomic challenges and opens avenues for domestic growth. Today’s situation is not only a test, but an opportunity to develop technological sovereignty, stimulate production and reinforce financial stability. As a leading bank, we continue to support innovative projects and introduce new tools to attract investments, ensuring sustainable economic growth over the long term,” said Kostin.

The macroeconomic session of the first day of the forum will focus on Russia’s monetary and budgetary policies, mechanisms of cooperation between countries Russia is building ties with, support for long-term investments and development of labor and HR potential. Speakers include: Minister of Finance of the Russian Federation Anton Siluanov, Chairman of the Central Bank of Russia Elvira Nabiullina, Minister of Economic Development of the Russian Federation Maxim Reshetnikov, and Deputy Head of the Presidential Administration Maxim Oreshkin. The session will be attended by representatives of the domestic and foreign business community. VTB’s First Deputy President and Chairman of the Management Board Dmitry Pyanov will moderate the session.

The second day of the forum is dedicated to retail investment and financial market development. It starts with a presentation of “VTB My Investment’s” strategy for 2025 and continues with sessions on the most pressing issues facing the stock market. Participants will include representatives of issuing companies, government agencies and retail investors.

The sessions will be streamed online and the agenda will be available on the official website.

The “Russia Calling!” forum has been held annually since 2009. Each year, the event attracts a distinguished and influential audience, which includes representatives of government agencies, heads of Russian and international companies, and investors. The forum’s agenda addresses the critical issues currently facing the global economy, finance, and business sectors. 

VTB Group boasts an international network that sets it apart from other Russian banks, driving the development of international cooperation and an alternative system of international payments. The group operates subsidiaries and associated banks in Armenia, Belarus, Kazakhstan, Azerbaijan, Vietnam, a branch in India, a branch and a representative office in China, and a representative office in Iran. The bank’s own closed-loop payment infrastructure ensures the reliability and security of settlements via VTB.


New $100m JV to drive global growth in media, entertainment, technology, and tourism

New $100m JV to drive global growth in media, entertainment, technology, and tourism
Updated 02 December 2024
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New $100m JV to drive global growth in media, entertainment, technology, and tourism

New $100m JV to drive global growth in media, entertainment, technology, and tourism

Australian Chinese investment company MCA Capital Group and Saudi holding company RMA Ventures have announced a landmark $100 million investment into a new joint venture fund that will drive global growth across multiple high-impact sectors, including media, entertainment, technology, and tourism.

The partnership will leverage the unique strengths of both MCA and RMA to produce high-quality content and events, as well as investing in companies and initiatives that are transforming the entertainment, technology, and tourism sectors.

Initial projects will focus on creating, producing, and distributing diverse and culturally relevant content, organizing large-scale events, and supporting innovative initiatives in entertainment, technology, and tourism. By also integrating entertainment and cultural tourism, the partnership will attract international visitors and promote cross-cultural exchange.

“We are thrilled to announce this significant investment and strategic partnership, which goes beyond traditional borders,” said Redha Alhaidar, chairman of RMA. “This joint venture is an exciting step forward not only for Saudi Arabia but also for international collaboration in the fields of media, entertainment, technology, and tourism. By joining forces with MCA, we aim to create sustainable growth opportunities, develop local talent, and strengthen cross-cultural ties between Saudi Arabia and the broader global market.”

In addition to producing content and events, the venture will also explore the adaptation of successful Chinese and Saudi media and entertainment properties for the MENA region and globally.

As part of the joint venture, MCA will contribute its extensive experience in international media production, entertainment, and cross-cultural partnerships, while RMA will provide deep local market expertise and facilitate strategic connections across sectors in media, technology, and tourism.

“This partnership is about creating long-term, meaningful growth with a truly global vision,” said Shelly Yu, chairperson of MCA Capital. “We are committed to supporting local talent development, fostering creativity, and advancing a vision that sees our two communities at the forefront of global entertainment, technology, and tourism innovation. By leveraging our collective strengths, we can help shape a more interconnected and culturally vibrant world.”


Diriyah Gate and Saudi Council of Engineers sign MoU

Diriyah Gate and Saudi Council of Engineers sign MoU
Updated 01 December 2024
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Diriyah Gate and Saudi Council of Engineers sign MoU

Diriyah Gate and Saudi Council of Engineers sign MoU

Diriyah Gate Development Authority has signed a memorandum of understanding with the Saudi Council of Engineers to expand collaboration between the two entities. This agreement will consolidate efforts in the engineering sector, including the development of policies and regulations, implementation of oversight and inspection mechanisms, simplifying procedures related to permits and licenses, exchanging data and expertise, and working on joint projects and initiatives.

The MoU was signed by Jerry Inzerillo, CEO of DGDA, and Abdulmohsen Almajnouni, secretary-general of SCE. The MoU emphasizes the necessity of unifying efforts between the two parties, facilitating procedures, and enabling collaboration to enhance quality, increase efficiency, and ensure continuity of work while maintaining agility in jointly addressing challenges.

Through the exchange of relevant statistics, studies, and research, the memorandum will help strengthen the relationship between the two parties, helping to achieve their shared goals and aspirations. Additionally, it seeks to contribute to the implementation of joint projects and initiatives. A joint working team will be established to enhance collaboration in shared areas such as aligning the development of mechanisms for issuing necessary licenses and permits for service providers within the supervisory scope of DGDA as well as cooperating in the qualification and classification of professional offices under SCE.

Inzerillo highlighted the significance of the MoU, saying that the agreement will support DGDA’s organizational role in simplifying licensing, permits and oversight procedures, which contributes to highlighting the extensive historical roots of Diriyah as the birthplace of Saudi Arabia. It will also showcase the distinctive architectural features to provide a unique experience for visitors from around the globe. This will be achieved through collaboration between the two parties, aligning with DGDA’s objectives and enhancing its contributions to cultural, tourism, architectural and economic development, as well as strengthening governance between the entities.

Almajnouni said that the partnership between the two parties is expected to achieve shared objectives that lead to sustainable development in accordance with the highest international standards. “This memorandum will enhance Diriyah’s status as a leading cultural and historical destination both regionally and globally, while also contributing to the development of cultural and historical awareness related to the engineering field,” he added.