A collaborative research project between New York University Abu Dhabi and Tharawat Family Business Forum

Spotlight

Palmon Group

Information last updated on 21 December 2022

Snapshot

Founding

Family Name:

Lahori [1]

Founder’s Name:

Manohar Lahori [3]

Earliest Documented Business Name:

Palmon Exports [2]

Founding Year:

1974 [4]

Founding Location:

Mumbai, India [5]

Today

Current Operating Status:

Operating

Family Business Name:

Palmon Group [6]

Headquarters Location:

Jafza, Dubai, United Arab Emirates[7]

Key Industries:

Manufacturing, Retail and Logistics [8]

Number of Employees:

4000 [9]

About the founder

Manohar Lahori was born in 1954.[10] His first business venture was a garment factory, launched in Mumbai, India, in 1974. Established under the name Palmon Exports,[11] it was equipped with approximately ten garment-making machines.[12]

Founding story

In 1984, during a business trip to London, Manohar Lahori stopped off in Dubai to visit Jebel Ali, where the UAE’s first free trade zone was in the process of being established.[13] During his visit, he met Sultan Ahmed Bin Sulayem, who was charged by the late Sheikh Rashid Bin Saeed Al Maktoum,[14] then ruler of Dubai,[15] with establishing companies around the Jebel Ali harbor area to support the Emirati economy.[16] Convinced of the potential of the new trade zone, Lahori officially moved his business operations to Dubai in 1985,[17] and set up one of the first shops in the Jebel Ali Free Zone (Jafza).[18] As Lahori predicted, the relocation of the business to burgeoning Dubai, proved a great success.[19] Within a year, the garment manufacturing operation was inaugurated in Jafza by Sultan Ahmed Bin Sulayem.[20] In 1987, the business expanded into the new Fujairah Free Zone.[21]

GROWTH PHASE

In 1991, the Palmon Group established its first sales office in the United States. Its turnover reached USD 150 million, with 4,000 employees across 19 factories.[22] In 1995, the Dubai Ports Authority celebrated the group’s new showroom and manufacturing facility on its tenth anniversary in the country.[23] In the late 1990s, Palmon Group, like many UAE-based firms, suffered setbacks when Chinese manufacturers began to flood the market with cheaper products,[24] leading the group to diversify its activities and branch into other sectors, such as logistics and investment.[25]

 

In 2002, Kunal Lahori, the founder’s son,[26] joined the family business as a managing partner, a position in which he serves to this day.[27] With the involvement of the second generation, the Palmon Group was able to grow further and branch into more sectors. In 2006, the group opened a new showroom to promote the group’s Palmonade luxury kitchens division.[28] [29] In 2013, Kunal established the group’s first restaurant, [30] El Sur, a contemporary Spanish fine dining destination.[31] Meher Mirchandani, the founder’s daughter, joined the family business a year later.[32] The Palmon Group is currently the exclusive UAE dealer for Ernestomeda, a major Italian kitchen manufacturing brand.[33] In 2018, the group launched a private real estate investment trust, Manrre.[34] [35]

TODAY

From its Dubai headquarters, the Palmon Group, now one of the longest-standing UAE-based family businesses, today operates13 subsidiaries spanning eight industrial sub-sectors under manufacturing, retail, and logistics.[36] Founder Manohar Lahori serves as the group’s chairman, and his wife, Reshma Lahori, is the managing director of Desert Blues,[37] the firm’s garment-trading business.[38] In addition to his role as a managing partner, Kunal runs the group’s food and beverage business division with his wife,[39] Rania Lahori.[40] Meher serves as group director.[41] Chirag Lahori, the founder’s nephew, runs multiple divisions of the family business as a director of operations and business development. The Palmon Group and its leaders have received numerous awards and other accolades for their contributions to the growth of the manufacturing industry in the United Arab Emirates,[42] including CEO of the Year, Forbes’ Top Indian Leaders in the Arab World, Arabian Business Top Leaders, Indian Power List, and Top Indian Businessmen in the GCC.[43]

Notes

Photo Credit: Founder Manohar Lahori and Sheikh Mohammed bin Rashid Al Maktoum. United Arab Emirates. 1988. Source: Palmon Group

 

[1] “The Foundation – Palmon Group.” https://palmongroup.com/about-us/. Accessed 20 Dec. 2022.

[2] “MANAGEMENT | Manrre Fund | DIFC.” https://www.manrre.com/copy-of-management. Accessed 20 Dec. 2022.

[3] “The Foundation – Palmon Group.” https://palmongroup.com/about-us/. Accessed 20 Dec. 2022.

[4] “The Foundation – Palmon Group.” https://palmongroup.com/about-us/. Accessed 20 Dec. 2022.

[5] “The Foundation – Palmon Group.” https://palmongroup.com/about-us/. Accessed 20 Dec. 2022.

[6] “The Foundation – Palmon Group.” https://palmongroup.com/about-us/. Accessed 20 Dec. 2022.

[7] “Palmon Group | LinkedIn.” https://ae.linkedin.com/company/palmongroup. Accessed 20 Dec. 2022.

[8] “How to light up your investment portfolio this Diwali – The National.” 3 Nov. 2021, https://www.thenationalnews.com/business/money/2021/11/04/how-to-light-up-your-investment-portfolio-this-diwali/. Accessed 20 Dec. 2022.

[9] “The Foundation – Palmon Group.” https://palmongroup.com/about-us/. Accessed 20 Dec. 2022.

[10] https://www.linkedin.com/in/manohar-lahori-8525aa9/?trk=org-employees&originalSubdomain=ae . Accessed 20 Dec. 2022.

[11] “MANAGEMENT | Manrre Fund | DIFC.” https://www.manrre.com/copy-of-management. Accessed 20 Dec. 2022.

[12] “Interview: Palmon’s Meher Mirchandani, Chirag Lahori.” 21 Mar. 2014, https://www.arabianbusiness.com/industries/retail/interview-palmon-s-meher-mirchandani-chirag-lahori-543359. Accessed 23 Oct. 2022.

[13] “Interview: Palmon’s Meher Mirchandani, Chirag Lahori.” 21 Mar. 2014, https://www.arabianbusiness.com/industries/retail/interview-palmon-s-meher-mirchandani-chirag-lahori-543359. Accessed 20 Dec. 2022.

[14] “Interview: Palmon’s Meher Mirchandani, Chirag Lahori.” 21 Mar. 2014, https://www.arabianbusiness.com/industries/retail/interview-palmon-s-meher-mirchandani-chirag-lahori-543359. Accessed 23 Oct. 2022.

[15] “Founders of the Union – The Official Portal of the UAE Government.” 5 May. 2022, https://u.ae/en/about-the-uae/founders-of-the-union. Accessed 23 Oct. 2022.

[16] “The Foundation – Palmon Group.” https://palmongroup.com/about-us/. Accessed 23 Oct. 2022.

[17] “The 50 Richest Indians in the GCC: 2017-28.Manohar Lahori.” https://www.arabianbusiness.com/lists/the-50-richest-indians-in-gcc-668304-htmlitemid668278. Accessed 20 Dec. 2022.

[18] “MANAGEMENT | Manrre Fund | DIFC.” https://www.manrre.com/copy-of-management. Accessed 20 Dec. 2022.

[19] The Business Year: Dubai 2020. By Peter Howson. Page 31. https://books.google.ae/books/about/The_Business_Year_Dubai_2020.html?id=AVnwDwAAQBAJ&redir_esc=y  Accessed 20 Dec. 2022.

[20] “The Foundation – Palmon Group.” https://palmongroup.com/about-us/. Accessed 20 Dec. 2022.

[21] “The Foundation – Palmon Group.” https://palmongroup.com/about-us/. Accessed 20 Dec. 2022.

[22] “The Foundation – Palmon Group.” https://palmongroup.com/about-us/. Accessed 20 Dec. 2022.

[23] “The Foundation – Palmon Group.” https://palmongroup.com/about-us/. Accessed 20 Dec. 2022.

[24] “Interview: Palmon’s Meher Mirchandani, Chirag Lahori.” 21 Mar. 2014, https://www.arabianbusiness.com/industries/retail/interview-palmon-s-meher-mirchandani-chirag-lahori-543359. Accessed 23 Oct. 2022.

[25] “Interview: Palmon’s Meher Mirchandani, Chirag Lahori.” 21 Mar. 2014, https://www.arabianbusiness.com/industries/retail/interview-palmon-s-meher-mirchandani-chirag-lahori-543359. Accessed 20 Dec. 2022.

[26] “Interview: Palmon’s Meher Mirchandani, Chirag Lahori.” 21 Mar. 2014, https://www.arabianbusiness.com/industries/retail/interview-palmon-s-meher-mirchandani-chirag-lahori-543359. Accessed 20 Dec. 2022.

[27] https://www.linkedin.com/in/kunallahori/?originalSubdomain=ae. Accessed 20 Dec. 2022.

[28] “The Foundation – Palmon Group.” https://palmongroup.com/about-us/. Accessed 21 Dec. 2022.

[29] “Interview: Palmon’s Meher Mirchandani, Chirag Lahori.” 21 Mar. 2014, https://www.arabianbusiness.com/industries/retail/interview-palmon-s-meher-mirchandani-chirag-lahori-543359. Accessed 21 Dec. 2022.

[30] “Dubai restaurateur feasts on the good life – The National.” 12 Nov. 2014, https://www.thenationalnews.com/business/dubai-restaurateur-feasts-on-the-good-life-1.459632. Accessed 21 Dec. 2022.

[31] “Interview: Palmon’s Meher Mirchandani, Chirag Lahori.” 21 Mar. 2014, https://www.arabianbusiness.com/industries/retail/interview-palmon-s-meher-mirchandani-chirag-lahori-543359. Accessed 23 Oct. 2022.

[32] “18 | Building a $500m+ 2nd GEN Family Business (with Kunal Lahori).” 15 Mar. 2020, https://www.youtube.com/watch?v=VxQIhuBkEiY. Accessed 21 Dec. 2022.

[33] “Interview: Palmon’s Meher Mirchandani, Chirag Lahori.” 21 Mar. 2014, https://www.arabianbusiness.com/industries/retail/interview-palmon-s-meher-mirchandani-chirag-lahori-543359. Accessed 23 Oct. 2022.

[34] “Palmon Group launches private REIT as it looks to raise $90mn.” 22 Jul. 2018, https://meconstructionnews.com/30535/palmon-group-launches-private-reit-as-it-looks-to-raise-90mn. Accessed 23 Oct. 2022.

[35] “Manrre logistics fund joins Nasdaq Dubai.” https://www.mediaoffice.ae/news/2020/March/03-03/Manrre-logistics-fund-joins-Nasdaq-Dubai. Accessed 23 Oct. 2022.

[36] “Our Portfolio – Palmon Group.” https://palmongroup.com/our-companies/. Accessed 21 Dec. 2022.

[37] https://gulfnews.com/uae/my-home-my-life-a-dream-home-in-umm-suqueim-1.373893 Accessed 22 Oct. 2022.

[38] “The 50 Richest Indians in the GCC: 2017-28.Manohar Lahori.” https://www.arabianbusiness.com/lists/the-50-richest-indians-in-gcc-668304-htmlitemid668278. Accessed 23 Oct. 2022.

[39] “Interview: Palmon’s Meher Mirchandani, Chirag Lahori.” 21 Mar. 2014, https://www.arabianbusiness.com/industries/retail/interview-palmon-s-meher-mirchandani-chirag-lahori-543359. Accessed 20 Dec. 2022.

[40] “Kunal Lahori – AHIC.” https://www.ahic.com/speaker-profile/kunal-lahori. Accessed 20 Dec. 2022.

[41] “The Foundation – Palmon Group.” https://palmongroup.com/about-us/. Accessed 21 Dec. 2022.

[42] “The Foundation – Palmon Group.” https://palmongroup.com/about-us/. Accessed 21 Dec. 2022.

[43] “MANAGEMENT | Manrre Fund | DIFC.” https://www.manrre.com/copy-of-management. Accessed 21 Dec. 2022.

To cite this article please use:

“Palmon Group” Family Business Histories Research Project, New York University Abu Dhabi and Tharawat Family Business Forum, 20 Mar. 2023, familybusinesshistories.org/spotlights/palmon-group