In this interview, we will find out more about the story of Zoughaib & Co. Jewelry in Lebanon. We interviewed Mr. Doumit Zoughaib, Founder & CEO of Zoughaib & Co. Jewelry, and this is what he had to say:
How did you enter the franchise business?
Founded in 1981, Zoughaib and Co. has since grown to become one of the largest jewelry brands in Lebanon. At this point, our crystal vision didn’t end here, so we determinedly decided to enter in the franchise industry as our mere natural coming chapter throughout our continuous adventure that we have started nearly 40 years ago.
We have built a strong and a credible brand, a brand that has the uniqueness, competences and standards to venture into new markets and to establish itself as an international luxury jewelry trademark. We received numerous requests from several international investors and today, “Zoughaib and Co” has expanded to cover Lebanon, Kuwait, Qatar, and Iraq.
Our main objective is to continuously expand into new markets and territories and to branch out our brand worldwide. We do certainly believe that the right partnership will empower this goal and will definitely bring mutual benefits to all parties.
Where and how did the idea of your concept come from?
I was a young mathematics graduate with a passion for creation and design. I was not sure how to express that passion or what shape or form that passion would take, yet I was utterly convinced how central this passion will be and how fundamental its role will have in defining my future.
Since the very beginning, “Zoughaib & Co” has established itself as a household name in the jewelry industry, offering master pieces that are defined by iconic unique designs and unparalleled craftsmanship.
Today, the brand has since grown to become one of the leading and largest jewelry brands in Lebanon and the MENA region.
What makes your brand different from your competitors?
“Zoughaib and Co.” is considered a Trend-Setter, creating exclusive designs and innovative jewelry lines and collections that speak to every woman & man looking for elegance in simplicity, for distinction in style, and for glamour in timelessness.
“Zoughaib and Co.” has built a strong brand DNA and a credible and reputable trademark which is synonym to outstanding jewelry craftsmanship, linked to celebrities and trendy luxurious lifestyle.
Based on decades of experience in the luxury industry, “Zoughaib and Co.” presents today an unparalleled unique franchise opportunity with a high profitability potential, and most importantly a successful proven business model.
What are the essential qualities that you look for in a franchisee?
When looking to franchise, we do certainly focus on the many legal, financial and operational considerations. But most importantly, we do believe that the key to success for any franchise-based partnership is derived from its people and their alignment around our franchise structure, our strategic objectives, our corporate values and our organizational culture.
As we are highly motivated about the development of ” Zoughaib & Co”, we are continuously looking for equally driven & passionate franchisees that can match our vision for the brand.
Accordingly, not every franchisee candidate can be the right FIT to represent the brand. In some previous settings, we did go against the tide in order to maintain the DNA, the integrity, and the credibility of the brand.
In other terms, having the passion for the brand, a full understanding of the franchise business, the right financial and personal capabilities and a long-term growth perception are considered the vital qualities to build a successful, sustainable & long – standing franchise venture.
How long does it take, on average, for your franchisee to realize their investment?
From a fact-based approach, our franchise business model has the potential to swiftly move toward profitability. Once the business model is successfully followed, our franchisee should look to break even within an average of 2 years from the start of operations.
In parallel, and in order to successfully achieve this goal, we will be providing our franchisees with ample support and guidance through every stage of the franchise venture.
What was the major challenge you faced in your career, and how did you overcome it?
One of the major challenges was the ability to create the best business environment that drives the thorough process of innovating, creating and manufacturing unique designs and finest collections.
In order to timely respond to our brand requirements and to the preferences and predilections of our markets, we believe that it is crucial to select the right skilled, genuine, and results-oriented personnel.
We have developed an efficient Protocols, SOPs and Performance Assessment Systems to keep our selection and engagements in a continuous check and to preventively avoid any incorrect associations.
In addition, we adopted the latest technologies and machinery to maintain and raise the standards of the quality of our manufactured products and our clientele experience.
What is your best achievement?
Having something that others can’t easily access or acquire is the epitome of luxury!
Accordingly, my best achievement is to successfully create the DNA of “Zoughaib & Co”- a successful luxury jewelry brand- a brand with Heritage, Legacy, Authenticity, Uniqueness and Distinction.
It is all about elevating the product beyond a commodity and creating “Zoughaib & Co ” brand experience that elicits a powerful emotional connection with our esteemed clientele.
What was your best moment throughout your franchise career?
Anytime our brand moves magnificently into a new directions, new markets, new challenges and new cultures can be considered one of the best moments in the franchise journey.
But my best moments by far, is when you step back and realize that our franchise partner actually recognizes the factual scale of the brand potentials and profitability.
I do believe that the franchisor success identically derives only from the franchisee same accomplishments.
Where do you see your brand in the next 5 years?
Developing a luxury brand today amidst other longstanding brands in the current market landscape may seem challenging.
However, our roadmap for the next five years is to continuously develop our unique positioning and to determinedly create, communicate and deliver our brand functional and symbolic values to all our clients.
Concurrently, we will be focusing on growing our retail presence in existing territories and enthusiastically introducing the brand to new international markets.
Today, the brand global expansion becomes much more of a possibility, and it occurs by developing the right partnerships!
Any tips you want to impart to our readers who want to be in the franchise industry?
From a franchisor ‘s perspective, when creating a franchise, make sure that you are capturing the essence and the identity of your brand. What sets you apart is your uniqueness, your Brand DNA!
Do not lose sight of your brand’s vision, values and objectives. Establish a clear vision that will give you a direction to achieve and will always keep you focused.
Set SMART goals – Goals that are achievable by properly framing them as short-term and long-term objectives. Commit, Persist and Give your best in innovating, creating plans, setting goals, making key decisions and implementing timely corrective actions whenever are needed.
Most importantly, build a UNIQUE, successful & profitable business model to be compellingly replicated and licensed to others.
Do not limit yourself, think BIG and reach for the stars!
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