We are Abu Sulayman
I met Muna AbuSuleimani in 2006 when she was the co-founder of the #1 and longest-running Arab TV show on social issues.
At the Four Seasons Hotel in Manhattan, she interviewed me about her clothing startup, a pioneering celebrity brand aimed at modest fashion women. During my interview, I talked about the intensive capital that a startup requires, lengthy logistics, global sourcing, and the manufacturing process. Ever-changing and demanding compliance requirements, fit and style issues, and customer returns all lead to markdowns, overinventory, paper-thin margins, fierce competition, and ultimately, a write-off if you’re lucky. , or, to not -lucky personal bankruptcies. I thought it was my duty to warn anyone who wants to dive into this industry, especially someone who has no prior retail experience.
The old joke comes to mind: How to make a small fortune in the fashion industry? Answer: Start with a bigger one.
After the pandemic, I decided to reach Muna via Zoom. In the past 16 years, Muna AbuSulayman has become a serial entrepreneur, investor, partner, founder and philanthropist. She is a partner at Transform VC (Tonal is one of their investments, https://transform.vc) and co-founder of Healthkey Technologies. She serves on numerous boards, including Gucci’s Global Equity Board, a Board Member for CPSL at the Stanford Center for Philanthropy and Civil Society, and was the first Saudi female UNDP Goodwill Ambassador. It has received numerous global awards and recognitions, such as The Medinge Group’s Morley Colin Award, which stands for a brand with a conscience. AbuSulayman is a Yale World Fellow and the Aspen Middle East Institute Fellow. She was also the former secretary general of the Alwaleed Bin Talal Foundation. It supports innovation and strategic initiatives to fight poverty, empower women and reframe the Islamic-Western dialogue. According to the World Economic Forum, AbuSulayman is one of the 500 most influential Muslim women worldwide for her work in media, gender, leadership and education and as an iconic Arab media and humanitarian personality.
Chan: It’s been 16 years since we last met. I follow you on social media and watch everything in your professional life. Please let me know if you have started your own clothing business.
Abu Sulayman: I started and stopped my fashion clothing line. Without a doubt, it was the most fun I’ve ever had in my career. My fashion line was my first foray into the business world. With no training or experience, I followed my heart. I saw an opportunity to design and produce a modestly elegant and modest line for regular and plus-size women who want to look as fashionable in Milan as they do in the Middle East. And we met during my research process, and you gave me very appropriate advice.
I was a pioneer, as modest fashion was not a thing in 2006. Unfortunately, mistake number one was that I invested my own money instead of raising funds from friends and family to mitigate the risk. So I lost all my savings when the business failed. But the experience taught me what it takes to be a successful business person. This does not mean that you do not enter a sector that you do not know; you don’t have to be an expert, but it just means you have to make sure you have a team that knows what they’re doing. I didn’t, which was mistake number two.
Although I failed in that business, I learned my lessons, went into education, philanthropy, health care and technology and succeeded.
Chan: What lessons have you learned from this experience?
Abu Sulayman: You have to have the right team. The second lesson is to keep going.
After closing the clothing line, I started a consulting business called Directions, which focused on ESG strategies and processes for corporations. We were ahead of our time as these were the days of pre-ESG buzzwords. Strategy, risk and reputation management consulting is my area of expertise and we were very successful. 3S Consulting Group acquired our company in 2018.
At the same time, I co-founded the Arab Digital Reform Institute (ADRI). It is an AI translation platform. We create knowledge and digitize educational content in Arabic that is up-to-date so that people can become internationally competitive within their own language. We are breaking the language barrier, improving the learning experience and improving the global ranking of our students.
The tool is also a plagiarism checker to allow journalists and universities to translate information from Arabic to English and check facts in Arabic and English, so you can tell if someone has plagiarized from another language. This tool does not exist in the world and we are the first to do this.
It is B2B and will become B2C soon. The algorithm is the secret sauce and we are revolutionizing education in the Arab world.
In 2019, I realized that the world is changing beyond recognition, and in the next 20 years many things will happen that depend on a deep understanding of these changes. So, I decided to take a year off to study and learn. It was not easy to leave many board positions and operational duties. However, it was important to have the space to immerse myself deeply in future global social, economic and business trends.
Chan: You certainly have a very reliable name in various industries. As a venture capitalist, what is your mission?
Abu Sulayman: At Transform VC, we are based in Silicon Valley, focusing on technology and innovation. Our mission is to bring the best and brightest minds from underrepresented groups, particularly from the Middle East, and give those with cutting-edge ideas and startups the opportunity, support, network, guidance and structure to have global success.
The team is amazing: Raed Almasri, our managing partner at Transform, is a genius, and Rama Chakaki, one of our LPs, is the most talented person I’ve worked with and is also one of the nicest human beings. Rama and I have worked together on many refugee issues for a long time, and you know you’re going to go far when you have people like that with you.
At this stage in my life, I am grateful to have the opportunity in the venture capital industry to make a difference in the world through economic advancement and increased employment opportunities. It is another side of the coin of my mission, which is a universal opportunity for everyone.
But I also love my non-profit work with the United Nations Women’s Peace and Humanitarian Fund, where I participate in supporting the efforts of women leaders working in the world’s most complex conflicts who receive minimal resources and funding.
Chan: Tell me about your role as part of Gucci’s Global Equity Board.
Abu Sulayman: It’s a fantastic board. Marco Bizzarri, CEO of Gucci, Susan Chokachi, President & CEO of Gucci, The Americas, and Robert Triefus, Executive Vice President of Brand and Customer Engagement, are distinguished professionals. We also have wonderful non-executive directors from all disciplines who round out the board.
Angela, I have been on many private, public and non-profit boards. However, Gucci is very committed to achieving equality in their businesses and supply chain suppliers and working diligently on any issue that affects this.
Additionally, Marco Bizzarri’s ability to laser-focus on how to solve a problem, combined with a high risk tolerance, allows him to make important decisions quickly. We can test solutions quite quickly and see what works and what doesn’t.
Chan: You have worked with so many people around the world; who are the women leaders you most admire?
Abu Sulayman: I have met many amazing and thoughtful leaders around the world, and it is extremely difficult to pick one or two.
A woman, I admire Pat Mitchell, the former and first female CEO and President of PBS. She wrote Becoming a Dangerous Woman: Embracing Risk to Change the World. Her life story of how she was a force in the media world and opened it up to other women when it was a man’s world is remarkable.
She is a compelling example of women empowerment. It connects women leaders from all over the world on an equal footing. Usually, when I bring in women from the developing world, there’s a bit of snooty, white feminism. Pat Mitchell’s leadership is perhaps the first platform where true equality exists for feminist leaders. Women are not a homogenous group and differences in culture and priorities must be discussed openly and easily to create solutions that make the world more equal.
Chan: Do you have regrets when you look back on life?
Abu Sulayman: Almost no regrets. But I wish I had gotten some work-life and self-balance advice early on. The learning journey for this was arduous.
I worked so hard and put everyone’s needs first for decades. I didn’t realize how much I let myself down until I was older. I also didn’t like my accomplishments because I was always looking at the next mountain and making sure everyone else was thriving.
I regret that I could have balanced these requests a little better.
My advice to my girls is always to enjoy the journey, not just think about the destination.
Chan: What is expected next?
Abu Sulayman: Outside of my work on ESG and universal opportunities for all, I’m doing a lot of VC work, traveling and meeting founders and scientists. I am also very interested in recycling and have some ideas to increase the recycling rate in the Middle East. I’m also throwing out some ideas for the metaverse that serves the Arab and Muslim communities.
Chan: Some people say that Mosesism is the next #MeToo movement; what do you think about gender age?
Abu Sulayman: All over the world, women are getting older. It’s a subconscious bias that favors the young. Many senior female executives in companies start not being invited to certain meetings, not taking on big projects and not being asked to represent the company, and so the exclusion begins.
I’m glad that powerful women like Viola Davis and Jane Fonda from the entertainment industry and others from the business world are openly discussing gender aging.
As you have a longer career, you gain much more knowledge. I went from education to media, fashion, philanthropy, business and technology because I was curious. This career and discipline allows me to see solutions and connect issues and networks that may not seem obvious to others.
My career trajectory shows other women that you can keep reinventing yourself as long as you’re curious.
