October 2024
Case
HBS Case Collection

Sacoor Brothers: From Co-Family CEOs to No Family CEOs?

By: Lauren Cohen, David Ager and Alpana Thapar

Format:Print
| Language:English
| Pages:19

Abstract

Sacoor Brothers, a luxury clothing retail company, was founded in 1989 in Lisbon, Portugal, by four brothers—Malik, Salim, Rahimo, and Moez. After establishing a strong presence in Portugal, the brothers were drawn to the rapidly growing retail markets in the Middle East and Southeast Asia. By 2009, they had entered the Dubai market and began planning further expansion in the region. Believing Dubai would be central to their next phase of growth, the brothers relocated their families there in 2012. By 2024, Sacoor Brothers had evolved into a global fashion brand with over 140 stores across 13 countries. All four brothers remained on the board, actively shaping the company’s strategic direction. They credited much of their success to the strength of their family bond. However, as the company expanded into new markets, the brothers began to question whether their existing operating and governance models would be sustainable for the future. Could they pass on the formula that had driven their success over the past 20 years to the next generation? How might they need to adapt their approach for continued growth?

Keywords

Family Business; Growth; Geographic Mobility; Private Equity; Investment; Family Office; Governance; Professionalization; Institutional Development; Second-generation; Third-generation; Transition; Jordan; Retail Industry; Fashion Industry; Middle East; United Arab Emirates; Saudi Arabia; Portugal

Citation

Cohen, Lauren, David Ager, and Alpana Thapar. "Sacoor Brothers: From Co-Family CEOs to No Family CEOs?" Harvard Business School Case 225-008, October 2024.