Thu 31 Oct 2024
Under Colm McLoughlin’s visionary leadership, Dubai Duty Free transformed from a $20 million business in 1984 to a $2.16 billion enterprise by 2023. McLoughlin, the former Executive Vice Chairman & CEO of Dubai Duty Free, passed away on October 30 at the age of 81, as reported by local media.
Born in Ireland, McLoughlin’s career with Dubai Duty Free began in 1983 when he joined a consultancy team from Aer Rianta and the Irish Airport Authority, contracted by the Dubai Government to establish a duty-free operation at Dubai International Airport (DXB).
The Visionary Behind Dubai Duty Free’s Success
McLoughlin’s pioneering leadership redefined DXB as a global retail destination. Over his career, he rose from General Manager to Executive Vice Chairman and CEO, guiding Dubai Duty Free’s growth from $20 million in annual revenue to a remarkable $2.16 billion by 2023. His strategic vision and commitment to excellence made Dubai Duty Free one of the world’s largest and most successful duty-free retailers, cementing its role as a significant contributor to Dubai’s economy.
In 2024, after four decades of leadership, McLoughlin retired but remained active as an advisor and Chairman of the Dubai Duty Free Foundation until his passing.
Beyond his professional legacy, McLoughlin was known for his humility, warmth, and philanthropic work. Deeply dedicated to community service, he supported numerous charitable initiatives. Under his leadership, Dubai Duty Free received 780 awards, with McLoughlin personally honored with 86 awards. Notable accolades include the ‘Most Distinguished Employee Award’ from Sheikh Mohammed bin Rashid Al Maktoum, the ‘Irish Presidential Distinguished Service Award’ from President Michael D. Higgins, and an honorary doctorate from Middlesex University Dubai in 2017. He was also recognized with a Lifetime Achievement Award at the Arabian Business Achievement Awards in January 2024.
McLoughlin’s legacy leaves a lasting impact on Dubai’s retail industry and the duty-free sector, inspiring future generations of leaders.