Colm McLoughlin, the Galway man who was among the founders of global travel retail giant Dubai Duty Free, died in the UK on Wednesday aged 81 following a short illness.
Mr McLoughlin, who was from Ballinasloe in Co Galway, was part of the consulting team brought in from Aer Rianta – a forerunner to the DAA – to launch Dubai’s duty free operation in 1983.
His initial contract with the government of Dubai was for six months but he went on to run the business for more than four decades. In the years since, the group’s sales increased from $20 million in 1984 to close to $2.2 billion last year.
Mr McLoughlin, who was a former executive vice chairman and chief executive of the company, stepped down from the top job in May after more than 50 years in the industry and 41 in charge of what is one of the biggest such businesses in the world.
Derek Quinlan’s appetite for cash, his health difficulties and his advisers
Microsoft’s plan to add 550 new roles at its Irish operation
Your work questions answered: My hours have been cut but someone new has been hired. Can my employer do this?
With an election imminent, it is important party policies and manifestos are objectively costed and tested
Under his leadership, Dubai Duty Free became one of the largest single airport operations in the world.
He was also a recipient of the Presidential Distinguished Service Award in 2014 for his services to Ireland.
He also helped establish the Dubai Duty Free Foundation in 2004 and was “very proud” of the work that was done to support 119 local and international charities, according to Dubai Duty Free, who said he was “a well-known and much-loved figure in Dubai”.
“Apart from the business acumen, Colm will be warmly remembered by many for his easy-going personality, his warmth, his generosity, extraordinary kindness and friendship,” the group added. “That will be his enduring legacy.”
Dubai Duty Free managing director Ramesh Cidambi described Mr McLoughlin as “a great leader who built an award-winning retail business at Dubai Airport”.
“He was a true friend who touched so many lives within the travel retail industry,” he added.
- Sign up for the Business Today newsletter and get the latest business news and commentary in your inbox every weekday morning
- Opt in to Business push alerts and have the best news, analysis and comment delivered directly to your phone
- Join The Irish Times on WhatsApp and stay up to date
- Our Inside Business podcast is published weekly – Find the latest episode here
