Abu Dhabi [UAE], February 5 (ANI/WAM): ADMO Lifestyle Holding (ADMO), owned by Alpha Dhabi Holding PJSC (ADX: AlphaDhabi) and Monterock International Limited, and Addmind, a leading lifestyle and entertainment group in Europe, the Middle East, and Africa (EMEA), have launched a new global lifestyle vertical Alpha-Mind. The landmark deal is set to propel ADMO's brand portfolio to new heights.
Alpha-Mind is a UAE-based joint venture company that owns and manages a global portfolio of experiential lifestyle, food and beverage (F&B), and entertainment brands, created and developed by Addmind. Its portfolio currently comprises seven iconic names - CLAP, ONGAKU, Babylon, Sucre, Alma Bar, Bar Du Port, and Iris, including the Iris Beach House hotel brand.
With a 51 per cent:49 per cent equity split between ADMO and Addmind, Alpha-Mind represents a dynamic partnership poised to fuel expansion by growing existing brand footprints, and by creating and acquiring new concepts within the region and beyond.
Leveraging the capabilities and resources of both ADMO and Addmind, the launch of this high-end lifestyle portfolio aligns with the UAE Tourism Strategy, which aspires to attract 40 million hotel guests and draw AED100 billion in tourism investment to the country by 2031.
Commenting on the announcement, Petros Stathis, Vice Chairman of ADMO, said, "This joint venture - the fourth deal under ADMO - marks another milestone in our growth journey and testifies our commitment to bringing world-class brands and experiences to people in the UAE and around the world. We are working to build a larger, more diverse portfolio of leading lifestyle, luxury, hospitality, and entertainment concepts. Our goal is to tailor homegrown brands from the UAE and propel them to the global market."
The partnership, which is subject to regulatory approval, aligns seamlessly with ADMO's overarching vision to develop a global portfolio of lifestyle brands and expand their geographical presence worldwide. Addmind will manage the operations of all brands under Alpha-Mind with a focus on remaining at the forefront of 'the new and the next' in entertainment and F&B experiences.
Tony Habre, Group CEO of Addmind, said, "Today, we join forces with ADMO to start writing a significant chapter in Addmind's story. Alpha-Mind is a strategic alliance that unites two powerhouses in their respective sectors with a shared vision of growth and unparalleled guest experiences. Our aim is to continue to expand and elevate our homegrown brands on a global scale, tapping into new markets and reaching diverse audiences. We are confident that our combined strengths will make us ideally positioned to shape the next generation of experiential lifestyle, F&B, and entertainment concepts globally."
ADMO was formed as a joint venture between Alpha Dhabi and Dubai's Monterock International in 2022. The company seeks to assemble a portfolio of leading luxury and lifestyle brands. Since its inception, it has acquired Nammos, CE LA VI, and, most recently, Em Sherif. The launch of Alpha-Mind reinforces ADMO's role as a major player in premium brand investments.
As a leading lifestyle and entertainment group in the UAE, Addmind has established a strong presence across Dubai and Abu Dhabi through its iconic brands. These include CLAP, ONGAKU, Babylon, Sucre, Alma Bar, Bar Du Port, and Iris, which now make up the Alpha-Mind portfolio, as well as WHITE, WHITE Beach, Bazaar, La Mezcaleria, Be Beach, and Ria. The company is also poised for growth, with plans to open new outlets at Jumeirah Group's Marsa Al Arab in Dubai, as well as in international destinations, such as Ibiza, London, Mykonos, Paros, Milan, and St Tropez. (ANI/WAM)
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