Islamic Finance 2016: annual results for Russian market
“We are considered as reliable, sound and long-term partners”
poll of the month
Islamic Fashion Development in an interview with Dilyara Sadrieva
At the end of July in Turin (Italy), on a threshold of a Global Islamic economic summit (GIES), whichis going to be held in October 2015 under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, hosted a round table discussion on Islamic fashion.
A key objective of the event organized by the Dubai Center for Islamic economic development (DIEDC) and the Chamber of Commerce of Dubai,is to discuss and debate the pressing issues in this field at the highest level.
World leaders in the field of Islamic fashion, influencing the development of the industry on a global scalewere invited as participants. By exclusive invitation from the General Director of the Islamic Center of economic development Mr. Abdullah al Awara the event in Turin attended Dilyara Sadrieva, designer and fashion expert, the founder of Bella Kareema brand, which annually participates in the Moscow Halal Expo. Dilyara Sadrieva told to the portal MuslimEco how was the event and what can we expect in the Islamic style market in the future.
- What was the purpose of Turin event?
- The purpose of the event is to gather leaders of Islamic Modest fashionindustry, designers, producers, editors of Muslim fashion magazines, major retailers, who play a real role in its formation on a global scale, experts in the field of Islamic Economics, banking sector, light industry to discuss industry problems, to find solutions, to develop and improve the ecosystem of Islamic clothing.
- Why Italy was chosen to host this event?
- This is not the first event, held in Turin in the framework of the events GIES. One of the events was held last year, also planned to hold an economic forum at the end of this year. The mayor of Turin personally opened the round table and made a speech. The town Council supports initiatives of the development of the Halal industry in Italy as a whole. There is an active preparing for the launch of the project Halal Italy. Furthermore, Italy is one of the leading countries in the field of fashion industry and textile industry. This invaluable experience would be very useful and applicable in the industry development Islamic and Modest Fashion. Of course, at the round table were invited and secular Italian designers, manufacturers and experts.
- Which countries are leaders in the field of Islamic style today?
Leaders for the consumption of Muslim clothes are Turkey, UAE, Indonesia, Iran. UAE , China and Italy are leading on indicator MFI (Modest Fashion Indicator). MFI was presented firstin the report on Islamic Economics 2014/2015 by Thomson Reuters and the main aim is to assess the level of development of the market for modest clothing in the country.
- What problems are facing Islamic clothing market today?
- As the industry is relatively young and mostly consists of private entrepreneurs and enterprises of small and average business, interaction between all actors in the chainis still not sufficiently developed: designers, suppliers, manufacturers, distribution channels, financing, eco-system sales, including media activities and special events. The question is: how to strengthen the interaction between designers, manufacturers and retailers, in order to meet the market demand fully.
The next question arise: how Muslim designers and manufacturers can successfully compete with brands of cheap mass-market, goods produced in China, how the government can help to stimulate the growth of the Modest Fashionsector. This question, I think, is more about Muslim countries.
Very important question about the ethics of this business arise. Is it possible to establish some minimum ethical standards? If the answer is yes, then which one? Can these standards be represented at the global stage?
Despite the huge market potential, there is no international brand operating at the global level in the field of Modest Fashionindustry. How to create such brand, how to meet the needs of consumers in key markets, how to accommodate the requirements and preferences of customers in different segments and markets without loss of brand identity? How to enter new markets and what factors limit the exit of Muslim brands to other markets? What additional skills and abilities are necessary to lead the Muslim brands on a global level? How to use Islamic banking for development of the sector and many other issues. Unfortunately, the period was too short and we were able only to briefly touch all the issues and identify solutions.
- Tell us about the event, how it was organized, what do you like the most?
The event was organized at the highest level, with the support of the Chamber of Commerce of Dubai, the Dubai centre for Islamic Economics, Thomson Reuters, city hall of Turin. The round table was held in the red hall city hall city of Turin.
- What was your speech about?
Bella Kareema is the clothing brand that has received a certificate from the International center of certification and standardization of Halal in Russia. At the event in Turin, I took an active part in discussions of problems of standardization in our industry. What can we standardize and certify in this segment - the safety of raw materials, product quality, business ethics, sales and advertising ethics, failure of usingbank loan funds based on interest, non-use of child and harmful labour. Incidentally, such certification is not carried out anywhere elseyet. I also talked about the development of the Modest Fashion industry in Russia and about the reason how and why we created the brand Bella Kareema is to create a positive image of Muslim women, help them integrate into society and to fulfill your potential, to have a proactive stance, and for a secular society to relax in the presence of the believing women through beauty and style that comes along with it, and create our own Russian style for Muslim women and for those who prefer modest clothing, given our historical, cultural assumptions, climatic conditions, our realities that they had the opportunity to observe and implement the tenets of their religion and not look like foreigners in their own country.
- What to expect from the market of Islamic fashion in the future?
- We have discussed this issue. I think, and many participants of the round table shared this view, that the number of brands and manufactured Muslim clothing finally has to grow up in quality. The quality of materials, sewing, customer service, quality in everything. Bella Kareema today's working hard on it and, I dare to say, achieved considerable success. Professional shots and close-knit team, the presence of certain ideas and goals, own style plays huge role.
The editorial board wishes the Bella Kareema brand further success in the development on the Russian and international market.