The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
A new report by estate agents Knight Frank reveals that the United Arab Emirates’s retail sector, which was already suffering before Covid-19 hit the region, isn’t out of the woods yet, Arabian Business reports.
The report estimates that domestic spending in Dubai and Abu Dhabi fell by 10.5 billion dirham (around $2.8 billion) in 2020, while Dubai makes up around 47 percent of declining spend across the UAE. Retailers in the city, which relies largely on demand from international tourists, continue to see low footfalls. Knight Frank predicts that the country’s retail sector will continue to face these challenges and expects stores to feel more pressure from rents.
This week’s round-up of global markets fashion business news also features Latin American mall giants, Nigerian craft entrepreneurs and the mixed picture of China’s luxury market.
Resourceful leaders are turning to creative contingency plans in the face of a national energy crisis, crumbling infrastructure, economic stagnation and social unrest.
This week’s round-up of global markets fashion business news also features the China Duty Free Group, Uniqlo’s Japanese owner and a pan-African e-commerce platform in Côte d’Ivoire.
Affluent members of the Indian diaspora are underserved by fashion retailers, but dedicated e-commerce sites are not a silver bullet for Indian designers aiming to reach them.