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.
Istanbul-based e-tailer Modanisa saw sales soar almost 50 percent year-on-year during this year’s Ramadan and Eid al-Fitr period.
In markets where Covid-19 restrictions have been relaxed, the retailer’s sales have already doubled or tripled last year’s levels. “Our post-pandemic outlook is very positive,” said Emin Imer, Modanisa’s chief strategy and growth officer, who expects the upward trend to continue.
“Modest fashion is very much associated with life ‘outdoors’…. when the streets are full again, we expect to see even more positive sales figures.”
While Modanisa plans on investing further in key markets like the UK, where this year’s Ramadan sales were up 70 percent year-on-year, the company is working to grow its market share in Southeast Asia, with Malaysia being a major growth point.
This week’s round-up of global markets fashion business news also features Brazil’s JHSF, the Abu Dhabi Investment Authority and the impact of Taiwan’s earthquake on textile supply chains.
This week’s round-up of global markets fashion business news also features Dubai’s Majid Al Futtaim, a Polish fashion giant‘s Russia controversy and the bombing of a Malaysian retailer over blasphemous socks.
As luxury marketing hits saturation point in Dubai during the Muslim holy month, global brands are ramping up their local engagement in other Gulf cities including Riyadh, Abu Dhabi and Kuwait City.
Chanel, Louis Vuitton and Tiffany & Co are among the brands expanding in Perth, Australia in a bid to tap its mining, oil and gas wealth and newfound status as a travel hub.