Tariq Saleh Altwuajiry, the GCC managing director of SISBAN, is a successful business leader in Saudi Arabia. With almost 25 years of practical experience in investments and the private sector, Altwuajiry gives us the lowdown on SISBAN.
What can you tell us about the diverse investment portfolio of SISBAN?
The company has managed risk by investing in various sectors and markets, including KSA, the wider GCC, the UK and the US. Diversifying sectors and markets has enabled us to utilize a pool of experience and skill sets from within our structure across the various territories. We have applied this strategy to diversify our portfolio of brands, including specialty coffee and roaster, bakery, juice bar, beef canteen/meat and steak concepts, burger, Lebanese, breakfast and day social dining, Saudi food, desserts/chocolate-based concepts and confectionery retail. Our brands are positioned from fast-casual to premium-casual, targeting a wide array of customers and demographics.
How are brands selected?
We select brands based on specific criteria, including market acceptance of the brand and concept, quality of the offering, value proposition and overall dining/retail experience. Additionally, a key selection factor is the team behind the brand’s DNA and its creative side. These criteria enable us to apply continuous improvement and development to the brands and concepts in the relevant markets.
What is SISBAN’s role in supporting economic growth and development in Saudi Arabia, particularly in light of Vision 2030?
Vision 2030 is driving various sectors within the kingdom, particularly tourism, hospitality and food and beverage, across the public and private sectors. Our contribution to this vision is creating full dining and retail experiences that focus not only on the food and its ingredients but also on the overall theme, venue vibe, interior design, music and service. These parameters are consistently driven to meet or exceed international benchmarks of dining standards, enabling our concepts to compete with international brands and appeal to both international visitors and local residents. This positions our homegrown GCC concepts for expansion into international markets, such as London, New York and beyond, while bringing other internationally acquired brands to the local market.
How does the company plan to introduce GCC brands to international markets?
Our strategy is to develop brands that are suitable for both the local GCC and international markets. To establish a solid foundation during the inception stage of brand creation, we conduct thorough market studies while taking into account international benchmarks of concepts and analyzing current and projected future trends. Additionally, we allocate the right resources to materialize this vision and brand conception by selecting a creative culinary team and interior design team. This thorough approach has brought several brands to success locally, regionally and internationally.
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