From travel guides to shopping portals, new Internet ventures aim to capitalize on the growing “Muslim lifestyle” market, which is expanding beyond food to include areas such as tourism, fashion and credit cards.
Some of the world’s largest fashion brands are creating branded hotels and private residences as well as the homewares to fill them, tapping easy additional revenue streams and constructing powerful brand beacons in emerging markets.
After London, Dubai is the second most popular place in the world to shop for fashion and luxury goods. Can it become number one? Six years after the devastation of a global recession that saw billions wiped off the value of local real estate, BoF sits down with Mohamed Alabbar, architect of the emirate’s retailing success, to understand his vision for the future.
DUBAI, United Arab Emirates — Dubai and luxury are nearly synonymous. Now, to boost its glamour factor and economy, the city has its eyes set on the multi-billion-dollar-a-year global fashion industry, which is currently dominated by the U.S., Europe and Japan.
Dubai Finesses Ease of Luxury Shopping for Chinese (NY Times) “Chinese shoppers, rare birds not long ago, are flocking to Dubai’s malls. Up to 25 percent of luxury goods sold in Mall of the Emirates are purchased by Chinese tourists… ‘So now, it’s about how we market to them,’ Mr. Malas said. ‘For example, many stores are hiring Chinese speakers dedicated to these consumers.’ Dior had two Chinese