An Icon of Modern Elegance
Firmly rooted in the heart of everyday life in Doha, Place Vendôme, the multibillion Qatari Riyal mixed-use development is an iconic destination shaping Qatar’s retail landscape, setting new benchmarks in luxury, entertainment and lifestyle. RLI caught up with Shane Eldstrom, CEO of United Developers to discuss the journey the mall has been on since launch and how it continues to be a beacon of excellence.
Attracting around 45,000 visitors daily, Place Vendôme is a unique destination inspired by Parisian elegance, featuring stunning architecture, a canal-side plaza and over 560 retail outlets alongside a dedicated luxury wing. People come here to spend time as well as money, a pivotal distinction, as the mall continues to be a highly relevant meeting point to the community it serves.
“Qatar’s consumers are knowledgeable, internationally mobile and accustomed to the very best that the world has to offer. Many of our customers are as familiar with the luxury shopping districts of Paris, London and Milan as they are with Doha,” explains Shane Eldstrom, CEO of United Developers, the team behind the project. “It is not enough to attract the world’s leading brands and assume that customers will follow. You need to deliver an experience that exceeds what those customers can enjoy elsewhere and you must do it consistently.”
The figures show that these needs are being met, as the company’s customer research indicates approximately 97 per cent of visitors to Place Vendôme make a purchase. In addition, having only opened in April 2022, the mall has quickly become a part of conversations about the future of luxury retail in the Gulf, demonstrating that the destination is increasingly recognised for the commercial opportunity it represents.
Their recent partnership with The Business of Fashion, an influential voice within the global fashion community, highlights this growing recognition, with the partnership offering an opportunity for them to connect Qatar’s luxury market with a much wider international network and play a more active role in the international fashion and luxury conversation.
Whilst Qatari consumers have a strong appetite for luxury goods, this comes with high expectations of service, exclusivity and a unique overall shopping experience. At the same time, Qatar’s expanding international tourism profile is on a growth curve.
This presents a unique opportunity to serve both audiences without compromising either experience. They do not want to become a destination that is primarily dependent on tourism, but they absolutely want the site to feature prominently on the itinerary of anyone visiting Qatar.
“The traditional markers of luxury – craftsmanship, quality, heritage and exclusivity – remain important. But consumers are now looking for something more personal. They want brands to understand them, to offer products and experiences that feel genuinely distinctive,” highlights Eldstrom.
The CEO and Place Vendôme team are particularly interested in brands yet to establish a presence in Qatar and potentially those considering their first steps into the wider GCC. However, Eldstrom comments that any new addition must contribute something meaningful to the overall destination.
Within this, first-to-market openings are valuable due to the excitement they can create and the ways in which they reinforce the positioning of the destination. “But exclusivity can also mean a product range that is only available in Qatar, a bespoke retail environment, an exclusive collaboration or an experience designed specifically for our customers.”
As the border between retail and leisure continues to fade, consumers do not necessarily plan their trips around a single activity anymore. The visit may involve a catch-up lunch, a place to meet friends, or a venue to catch a certain event. Once they are on-site, they can then enjoy spending time browsing or shopping.
The Dancing Fountains are an important part of the destination’s identity, while attractions like Trocadéro Theme Park broadens its appeal to families. A dining offer that comprises more than 100 outlets, alongside an extensive events calendar, all contribute to creating a destination that people can enjoy throughout the day and into the evening.
Recognising that their dining offer needs to be as compelling as their retail mix, Eldstrom says that the wider growth of Qatar’s hospitality and restaurant sector is also creating opportunities, giving rise to more experiential dining concepts, chef-led restaurants, specialist operators and new concepts and venues.
“Our relationship with Le Royal Méridien Place Vendôme Lusail and the wider hospitality offer deliberately creates an ecosystem in which each element strengthens the others and contributes to a more complete customer experience.”
Attractions outside Place Vendôme such as the Museum of Islamic Art, the National Museum of Qatar and the Arab Museum of Modern Art contribute to the increasingly compelling tourism proposition put forth by Qatar and it is the ambition of Place Vendôme is to be regarded as one of the essential experiences of visiting the country.
In fulfilling this ambition, they have centred efforts around opportunities such as continuing to evolve their tenant mix, strengthening their position as a premium lifestyle destination and developing more meaningful relationships with their guests through personalisation.
“We want Place Vendôme to play a more prominent role in the international conversation about luxury retail,” says Eldstrom as we bring our conversation to a close. “The fundamentals of our vision remain unchanged. We want to offer the world’s best brands and experiences within an environment that is unmistakably connected to Qatar.”
