Mohamed Al-Fayed

Topics: Mohamed Al-Fayed, Hôtel Ritz Paris, Harrods Pages: 2 (595 words) Published: April 9, 2013
Meghan Baquet
MRKT 1375
Professor Solomon
February 19, 2013
Homework #1 - “Who in the world are they?”
“Who am I”
Mohamed Al-Fayed was born on January 27, 1929 in Alexandria, Egypt where his incredible career began. Mohamed was married twice. From his first marriage to Samira Kashoggi, he had his first son, Dodi. With his second marriage to a former Finnish model, Heini Wathen, in 1985 he had four more children, Jasmine, Karim, Camilla and Omar. After this Mohamed and his brothers moved to London’s Park Lane in England. From here his business opportunities and career grew to extensive heights. “Company Affiliations”

Al-Fayed’s first taste of business and entrepreneurship was with his brothers in Egypt. The company was Genavco and unfortunate conditions with the Egyptian government forced the brother to jump ship. After their first taste of victory and bitter disappointment the brothers made their move. In 1966 Genavco was re-established in Genoa, Italy. Then in 1968 he established the International Marine Services. This company was essential for oil in Dubai and England. After this Mohamed invested a thirty percent stake in Richard Costain, an English construction company. After his oil business venture, he moved on to a venture with RW “Tiny” Rowland. This venture was Lanrho. He quickly sold his shares and backed out of the venture after learning how Tiny ran his business. In 1979 Mohamed dreams came true. He got the opportunity to buy the L’Hotel Ritz Paris. The hotel was a dream and an icon to Mohamed. He sunk multiple millions of his own money in his new investment and it paid off greatly. The L’Hotel Ritz Paris was restored to its former glory. Mohamed and his got another opportunity involving “Tiny” Rowland. This opportunity began with a thirty percent stake in House of Fraser, which includes Europe’s renowned Harrods. They soon bought the rest of the seventy percent of the company. In 1996 Al-Fayed decided to take on a new area of business. This...
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