As luxury sales growth slows elsewhere, high-end brands will turn to the untapped potential of emerging markets like the Middle East. The luxury sector can hasten the process by targeting the region’s more diverse and digitally connected global consumer base.
Key Question: What are the opportunities and challenges for personal luxury brands in key Middle East markets?
KEY STAT: More than half (55%) of high-earning Saudi consumers spent at least $12,000 on fashion over the previous 12 months, per a January 2023 Business of Fashion survey.
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