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.
The gilded key to the world’s most dynamic emerging economies is a combination of on-the-ground intelligence and loyal contacts. Six in-demand emissaries in global fashion sat down with BoF to share a few home truths about the markets on their doorstep.
With Egypt now stabilising, can this titan of the Middle East reclaim its style credentials and become a lucrative fashion market once again?
DUBAI, United Arab Emirates — Glitzy billboards in the Middle East and postage stamps in the U.S. Advertisements for lingerie and sales on modest skirts. Lavish buffets and cellphone apps.
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.
Middle East Retail Returns to Growth Track (WWD) “The retail pulse is back in the Middle East. Fashion brands point to positive trends in the region, including the return of tourists, particularly in Dubai. Wealthy Chinese are streaming in… shoring up a fast-growing destination for Europe’s luxury players even though business isn’t near pre-recession levels.” Debenhams refinances, sees lower interest costs