Qatar-based multi-brand firm, Doha Marketing Services Company (Domasco), is treading the path towards global recognition following the recent unveiling of its new logo, which realigns its corporate identity with world-renowned regional trading house, Al-Futtaim.
The new logo now carries Al Futtaim’s “arrowhead” icon, which reflects Domasco’s vision that is “more coherent” with Al Futtaim, said Domasco managing director Faisal Sharif in an interview with Gulf Times.
“We have been part of Al-Futtaim for decades, and we have been aligning ourselves more and more with Al-Futtaim in the last few years…so, this realignment will also give Domasco a global recognition,” emphasised Sharif, citing Al Futtaim’s presence in 31 countries with roughly around 30,000 employees worldwide.
According to Sharif, combining Domasco’s 50-year-old brand equity with Al Futtaim’s global reputation produces a unitary brand, and enables the company to serve all its stakeholders better, as well as strengthen its relationship with customers.
Sharif also described Domasco’s realignment with Al Futtaim as “strategic,” adding that “it is definitely to place ourselves more to the goal and to all the values that are attached with that brand.”
Asked about the new logo’s impact in terms of enhancing Domasco’s operations, Sharif said the company has already implemented in the last few years a continuing drive to adopt more of Al Futtaim’s best practices.
He also stressed that Domasco has already placed a strategic plan, which covers new principles, new markets, new avenues, and new streams of businesses.
“So, this is not something new that we will now draft from scratch. And this realignment of our identity, this refreshing of our corporate look, this is a part of that plan; it will not lead to the plan, but it is a part of the plan, which we are already pursuing,” he said.
Sharif said Domasco has increased its customer reach, introduced many new brands, retail outlets, and channels in all its business verticals, thus tripling the business size in the last five years. “This is a 300% business size, grown in the last five years, and practically speaking, we have tripled the size of Domasco’s business in Qatar (…) and even financially speaking, all the financial parameters have grown,” Sharif pointed out. Asked about Domasco’s expansion and growth plans, Sharif said the Group vision is to “double the business in the next five years.”
“This was actually the objective I received, as well (…) but we tripled the business in five years. As an objective, I would again give myself a target of doubling the business; it is not a conservative forecast but I would call it a stretch because this year alone, published official figures say that the automotive business in Qatar has shrank by 30%.
“While the market is shrinking, our business is growing. We broke our record last year, and we are all set to break another record this year, overall,” Sharif said.
He added: “So in these times when everyone else in shrinking, I think that a 100% growth is very much a stretch. It is very much a challenging target. It is not a conservative target at all but we will definitely try to achieve it.
“This philosophy has been demonstrated globally by Al-Futtaim in everything that Al-Futtaim does in every country, and this is what we are on track to replicate here in terms of our Qatar presence, knowledge, know-how, brand equity. And with the global recognition of Al-Futtaim, we will definitely reach new heights.”