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