Middle East fashion industry set to grow 15% in 2010 – study
Posted by Lucky on Jan 25, 2010
The Middle East fashion sector is expected to post 15% growth in 2010, according to a study conducted by the French Fashion University Esmod – Dubai, the leading fashion institution in the region.
The study foresees numerous opportunities in the $12bn Gulf clothing market, which is attracting more brands to the affluent and increasingly fashion-conscious region.
The study has revealed that there are several factors contributing to the surge in the Arab fashion sector, including the emergence of a pervasive regional ‘mall culture’ as shown by the launching of numerous commercial centers; a robust retail fashion business; and a rising regional interest among the world’s top designers as well as the growing popularity of Arab designers.
The fashion house identifies the UAE as an emerging global fashion hub; it explains that an AC Nielsen survey revealed that a third of UAE respondents bought luxury goods and that UAE residents are some of the most prolific buyers of designer apparel and accessories. Esmod adds that the introduction of the Armani Hotel Dubai in the recently-inaugurated Burj Khalifa tower reflects the continuous evolution of the Emirates’ fashion scene.
The cosmopolitan city of Dubai in particular has become renowned as a melting pot of fashion brands. The Dubai International Financial center, a focal point of regional finance, is also home to top fashion stores such as Villa Moda and Issey Miyake. Even the domestic real estate sector has incorporated fashion into its lineup of developments, as embodied by the Hotel Armani in the Burj Khalifa and the upcoming Isla Moda, the world’s first dedicated fashion island to be built on Dubai’s ‘The World’ project, which will feature limited-edition homes designed by fashion icon Karl Lagerfeld. A similar Dhs26bn mixed-use residential and retail fashion district called ‘Style City’ is also in the works in Abu Dhabi.
