All that glitters is gold: Arab Luxury World forum kicks off in Dubai
Panel sessions include hot topics such as the rise of Saudi Arabia as a prime market for luxury retailers
Dubai and luxury go hand in hand and so it is perhaps no surprise that organizers chose the city to host a two-day summit on all that is glitzy, glamorous and downright luxurious. The Arab Luxury World forum kicks off on June 1 and will see will see more than 100 panelists tackle issues related to the luxury market in the Middle East.
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The conference is hosted by Mediaquest Corpmore and panelists are expected to share their views on topics such as the future of the luxury market, home-grown luxury, e-commerce trends and challenges, and luxury automobiles.
“Arab luxury world is more than a conference on the business of luxury in the Middle East, it is a summit built on the extraordinary growth the region has recorded in the luxury segment. The fact that the region is transitioning from a frontier market to a developed one is of utmost significance for most luxury brands,” Julien Hawari, co-CEO of the event’s organizer Mediaquest said, according to the event’s website.
Panel sessions include hot topics such as the rise of Saudi Arabia as a prime market for luxury retailers, fashion trends and how big brands are using the digital world to their advantage.
The conference is an annual event to which luxury brands, agents, distributors, mall operators and service providers for the luxury industry are invited, as well as abroad brands who are interested in the region’s luxury sector.
“The luxury industry has recorded a growth over 11% last year and the coming years expectations are for the market to maintain a growth of 8%. At the same time private wealth in the GCC doubled from 2010 to 2014. But with those great opportunities are great challenges for luxury brands, distributors and retailers,” Hawari also said.
The event comes on the back of Chalhoub group’s estimate that the consumer yearly spend on beauty, fashion and gifts per capita in the GCC is close to $30,000, ten times what is being spend in some European countries, making a discussion on the future of the luxury market in the region crucial according to organizers.