EIGHTClouds Private Equity, a homegrown company that focuses on brands within the consumer sector, has launched in the United Arab Emirates (UAE) with an aim to support entrepreneurs and take local ideas globally. It enters the market with Chaps & Co, MORE and EIGHTClouds Systems.
Mark Aitchison, Founder and Chief Executive Officer of EIGHTClouds says that he found a gap in the market when he was expanding his own enterprise, Chaps & Co, and couldn’t find suitable investment that was enough to scale his business.
This is when he investigated private equity and realised that there was room to change the way this service was offered to homegrown ideas.
“Private equity with a difference” he calls it. He says that coming in from the side of somebody who has built businesses gives him the ability to work with the founders instead of just merely taking a stake in the business. “We are not trying to take over their business, we are looking to go in and work with really talented founders and scale their businesses with them.” Says Mark.
EIGHTClouds provides founders and entrepreneurs with access to capital, resources strategic expertise, and intellectual capital.
Witnessing the booming F&B industry within the region, the firm’s portfolio includes a newly opened MORE at One Central, Dubai World Trade Centre, serving global culinary favourites with signature local touches for a warm and relaxed casual dining experience.
“The MORE café was a no brainer for me, I was a frequent visitor and always wondered why they weren’t everywhere.” EIGHTClouds Private Equity plans to open 10 new locations by 2026.
When looking for businesses to partner with, Mark looks for proof of concept, ideally a brand with multiple locations, good data, and a very good product.
So, when you’re considering to scale or not to scale could “private equity with a difference” be an option to consider?
EIGHTClouds Private Equity believes it very well may be.
From being immersed in the needs of the customer base you choose to serve, to studying your competition, here are five essential things to consider before setting up your own business.By Mark Aitchison August 3, 2022 Opinions expressed by Entrepreneur contributors are their own.
Starting your own business is not an easy task- a lot of work is needed to bring your passion to life purposefully in a commercially viable way. Venturing out on your own forces you to face your limitations, test out ideas, accept that some may fail, but eventually land small successes that will give you the confidence to keep moving forward. Building a successful startup requires wholehearted commitment, dedication and tenacious self-belief, and there is no better place to start than the UAE.
According to the Global Entrepreneurship Monitor’s 2022 report, the UAE has been ranked first globally as the best ecosystem for startups and entrepreneurs in 2022. Home to leading business incubators, Dubai is continuously incentivizing and pushing the agenda to support entrepreneurs in achieving their vision. Additionally, government-led strategies such as the National Agenda for Entrepreneurship aiming to establish the UAE as an entrepreneurial nation by 2031 aid in creating bigger opportunities for setting up and scaling up businesses. Through the initiative, the government is curating packages of incentives that will help increase the number of startups, incubate unicorns, and achieve a strong partnership between the public and private sectors.
So, the question now becomes, what can you, as an entrepreneur, do to ensure success when setting up your company? Here are what I believe to be five most essential things you need to consider before setting up your own business.
1. Have a clear company vision and proposition. To create a successful company, you should have a very clear vision and carefully consider what is the value it will bring to customers. Where does your passion lie as a founder? What is your area of expertise? Where can you relate to your business and customers? When I launched my private equity company in the UAE, EIGHTClouds Private Equity, I decided to have the enterprise focus on consumer brands, because I have seen a gap in the market for consumer-facing brands, but more importantly because I have a passion for the sector, and the expertise, vision, and hunger to expand ideas beyond the region.
2. Build a brand that resonates. Today, more than ever, consumers are following brands that add to the community, have a purpose, and share similar values. Rather than just a product, brands today need to become brands that resonate with the audience, and have a cause and mission to attract and retain the attention of consumers and investors alike.
3. Study your competition. But don’t fall into the trap of obsessing over it as well, as you need to stay true to your values. It is important to assess the market’s current trends and the high-performing brands to understand what they are doing, and how the customer is reacting to it. In doing that, you can play on what the competition is lacking. and build your services based on that need. When my partners and I launched Chaps & Co in 2015, it was because we studied the market, and saw a need for an upscale male grooming brand. Today, that same company has expanded into 10 stores across the UAE and Saudi Arabia, and has become the first homegrown UAE brand to open in New York City, USA.
4. Be immersed in the community. Understand what the customer wants, and why they are not finding it. Review your target audience’s needs, and follow the values that resonate. For instance, nowadays, environmental awareness is not a can-have, but a must-have for individuals, corporations, and government entities. Brands should be leading eco-conscious efforts, and embed sustainability in its purpose and operations. Mental and physical wellbeing has also become more prominent as consumers bring a spotlight on the importance of mental health, and its impact on your overall performance and wellbeing.
5. A collaborative approach will take you far. The UAE is the land of opportunities, and there is an immense pool of partners for potential collaborations. To enhance your brand and boost your presence, you should look for like-minded entities, and create strong affiliations that’ll springboard your passion, idea, and business. As an ecosystem for startups, the UAE has also initiated various government-led efforts that help like-minded entities to collaborate and benefit simultaneously. Nonetheless, you should always keep an eye out for competition. To maintain a strong market share, it is important to ensure your brand is not repetitive, and offers an added value to the market. It’s also imperative to stay up to date with the latest trends as consumer habits are ever-changing, especially with the dominating presence of social media.
Mark Aitchison is the founder and CEO of EIGHTClouds, a private equity company based in the UAE that focuses on empowering the product, brand, and founder’s story for the consumer market.
Born and raised in the UK, Mark has called Dubai home for nearly 14 years, and has led an ambitious and versatile career prior to founding EIGHTClouds in the UAE. With a passion for entrepreneurship, Mark saw the immense potential in startups and innovative concepts specifically for consumer-facing brands. He thus set up a consultancy business in 2004 to provide corporate services for overseas businesses looking to access and set up operations within the GCC and Asia. Bringing a wealth of knowledge in multiple fields, Mark began investing in businesses to build a diverse portfolio of equity stakes, including construction, property development and retail, leading him to co-found the successful barbershop brand, Chaps & Co, in 2015. Today, Chaps & Co has expanded to 10 locations across the UAE, Saudi Arabia and the USA.
As the founder and CEO of EIGHTClouds, Aitchison guides and empowers the team to achieve the vision of the company. He takes charge of all elements of the business, from managing high-level corporate strategy and positioning, to managing the organization’s structure and communication with executives and board members. Believing in leading by example as a cultural cornerstone, he continues to build trust and transparency among his team members and the board committee. With EIGHTClouds, Mark hopes to continue building brands that last and provide a platform for entrepreneurs to innovate and take their vision global. Believing in building strong relationships with his partners, he looks to further expand with new avenues such as franchising, partnerships, or joint ventures across the fields of apparel, beauty and wellness, hospitality, real estate, technology, sustainability, and beyond.
The private equity firm focuses on homegrown companies within the consumer brand sector, providing founders and entrepreneurs with access to capital, resources, strategic expertise and intellectual capital.
EIGHTClouds Private Equity, a homegrown company that focuses on brands within the consumer sector, has launched in the UAE with an aim to support entrepreneurs and take local ideas globally.
It enters the market with an already-strong portfolio of associations comprising Chaps & Co, MORE and EIGHTClouds Systems, with the aim of growing the MORE portfolio from two to 11 outlets in the next five years, and further expand Chaps & Co across regional and global markets.
Founded by Mark Aitchison, EIGHTClouds Private Equity embraces a global vision to build businesses across the world and respond to diverse mindsets and consumer needs. Licensed by Abu Dhabi Global Market (ADGM) and Dubai Multi Commodities Centre (DMCC), it provides founders and entrepreneurs in the region with access to capital and resources, extends intellectual capital, and provides functional and strategic expertise to scale their businesses to a global level.
With a focus on brands within the consumer sector that present a competitive edge, the private equity firm is currently headquartered in the UAE with businesses also operating in the Kingdom of Saudi Arabia (Riyadh) and United States of America (New York). The EIGHTClouds Private Equity current portfolio spans across several industries, including beauty and wellness, F&B and technology.
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Mark Aitchison, Founder and Chief Executive Officer, said: “We are seeing an explosion of new entrepreneurs and founders in the region with a zeal to succeed and ideas that can be grown into global brands. At EIGHTClouds Private Equity, we believe in building strong and lasting relationships with our partners that contribute to achieving our joint goals. We look for strength in branding and scalability through potential avenues such as franchising, partnerships or joint ventures. Our goal is to make the dreams of innovators and passionate founders a reality, and ensure feasible businesses and ideas get a fair shot at scaling.”
Witnessing the booming F&B industry within the region, the firm’s portfolio includes a newly opened MORE at One Central, Dubai World Trade Centre, serving global culinary favourites with signature local touches for a warm and relaxed casual dining experience. EIGHTClouds Private Equity has major plans for the established brand, planning to open 10 new locations by 2026.
A local favourite since launching in 2015, there are currently 10 branches of the bespoke male grooming brand, Chaps & Co, with outlets across the UAE, KSA and recently expanded to the USA – one of the first UAE homegrown brands to open in New York City. With a strong expansion and franchising pipeline, the award-winning barbershop has already confirmed four openings by the end of the year.
Under its technology division, EIGHTClouds Systems, the one-stop software solution developed by EIGHTClouds Private Equity offers customized solutions to help businesses gain the most out of their operations and better manage processes with a strategic road map.
In line with UAE’s vision to empower strategic priorities and economic needs of the future, the firm continues to expand its global presence with a strong pipeline of acquisitions and franchises under consideration in the coming months.
EIGHTClouds Private Equity is currently exploring opportunities to enter and further develop across a range of consumer categories, including F&B, Hospitality, Apparel, Consumer Care, Technology, Sustainability, Beauty & Wellness and Real Estate, amongst others.
Launches with a strong portfolio that includes bespoke male grooming brand Chaps & Co, vibrant MORE Café, and EIGHTClouds Systems
It enters the market with an already-strong portfolio of associations comprising Chaps & Co, MORE and EIGHTClouds Systems, with the aim of growing the MORE portfolio from two to 11 outlets in the next five years, and further expand Chaps & Co across regional and global markets.
Founded by Mark Aitchison, EIGHTClouds Private Equity embraces a global vision to build businesses across the world and respond to diverse mindsets and consumer needs. Licensed by Abu Dhabi Global Market (ADGM) and Dubai Multi Commodities Centre (DMCC), it provides founders and entrepreneurs in the region with access to capital and resources, extends intellectual capital, and provides functional and strategic expertise to scale their businesses to a global level.
With a focus on brands within the consumer sector that present a competitive edge, the private equity firm is currently headquartered in the UAE with businesses also operating in the Kingdom of Saudi Arabia (Riyadh) and United States of America (New York). The EIGHTClouds Private Equity current portfolio spans across several industries, including beauty and wellness, F&B and technology.
Mark Aitchison, Founder and Chief Executive Officer, said: “We are seeing an explosion of new entrepreneurs and founders in the region with a zeal to succeed and ideas that can be grown into global brands. At EIGHTClouds Private Equity, we believe in building strong and lasting relationships with our partners that contribute to achieving our joint goals. We look for strength in branding and scalability through potential avenues such as franchising, partnerships or joint ventures. Our goal is to make the dreams of innovators and passionate founders a reality, and ensure feasible businesses and ideas get a fair shot at scaling.”
Witnessing the booming F&B industry within the region, the firm’s portfolio includes a newly opened MORE at One Central, Dubai World Trade Centre, serving global culinary favourites with signature local touches for a warm and relaxed casual dining experience. EIGHTClouds Private Equity has major plans for the established brand, planning to open 10 new locations by 2026.
A local favourite since launching in 2015, there are currently 10 branches of the bespoke male grooming brand, Chaps & Co, with outlets across the UAE, KSA and recently expanded to the USA – one of the first UAE homegrown brands to open in New York City. With a strong expansion and franchising pipeline, the award-winning barbershop has already confirmed four openings by the end of the year.
Under its technology division, EIGHTClouds Systems, the one-stop software solution developed by EIGHTClouds Private Equity offers customized solutions to help businesses gain the most out of their operations and better manage processes with a strategic road map.
In line with UAE’s vision to empower strategic priorities and economic needs of the future, the firm continues to expand its global presence with a strong pipeline of acquisitions and franchises under consideration in the coming months.
EIGHTClouds Private Equity is currently exploring opportunities to enter and further develop across a range of consumer categories, including F&B, Hospitality, Apparel, Consumer Care, Technology, Sustainability, Beauty & Wellness and Real Estate, amongst others.
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About EIGHTClouds Private Equity
EIGHTClouds Private Equity is a homegrown firm focuses on companies within the consumer brand sector that present a competitive edge. Established in the United Arab Emirates in 2022 by founder Mark Aitchison, EIGHTClouds Private Equity empowers entrepreneurs and business owners in the region to maximise the potential of their company.
Working side by side with the founders, EIGHTClouds Private Equity gives them access to capital and resources, extends intellectual capital, and provides functional and strategic expertise to scale their businesses to a global level.
EIGHTClouds Private Equity’s current portfolio of brands include Chaps & Co, MORE and EIGHTClouds Systems. The group continues to expand a solid pipeline of acquisitions and franchises across the beauty & wellness, hospitality, technology, apparel and real estate industries, amongst others. Drawing inspiration from global best practices in sync with unified local needs, EIGHTClouds Private Equity believes the next generation of global consumer brands are being born and developed in the UAE.
