In early 2023, Business of Fashion identified that the Middle East offered the strongest global growth prospects for luxury fashion.
Behind this surge lies a combination of government-led diversification programmes such as Saudi Vision 2030, and a younger, highly informed consumer base seeking new expressions of luxury.
As Patrick Chalhoub, Group President of Chalhoub Group, noted in the BoF / McKinsey State of Fashion 2023 report:
“Before 2020 and 2021, two-thirds of luxury spending by GCC shoppers happened abroad because they weren’t getting the experience, service, or choice they wanted locally.”
The retail and lifestyle landscape is now changing rapidly. Gulf consumers are engaging with luxury on their own terms – blending the international with the distinctly local.
At SUM, we’ve witnessed this shift first-hand, working alongside forward-looking brands and retailers as they prepare for launch across the region.
It’s this balance between global aspiration and local relevance that defines success in the Gulf – and it’s where a strategy-first agency can make the greatest difference.