Launch of 24 karat gold shoes worth $20,000 grabs limelight in Dubai
The custom-made shoes, launched by A&E Fashion Group, was produced uniquely for a user by an Italian master craftsmen
Unique handmade leather shoes made of 24 karat gold was the highlight of the opening day of Leatherworld Middle East.
The custom-made shoes, launched by A&E Fashion Group, was produced uniquely for a user by an Italian master craftsmen, who holds the world patent for the design.
The unique hand-crafted shoes are also available in platinum, palladium and silver finishes. The shoes are debuting in the region with a price tag of $20,000 (18,000) euros for a gold pair, $22,000 (20,000 euros) for platinum and $3,400 (3,000 euros) for the silver-finished pair.
Earlier, the Middle East’s only dedicated leather industry trade show opened at the Dubai International Convention and Exhibition Centre with HE Butti Saeed Al Kindi, Second Vice Chairman of Dubai World Trade Centre, inaugurating the exhibition.
Running for three-days, Leatherworld Middle East 2016 features 70 exhibitors from 16 countries, all of which have their sights on a Middle East and North African (MENA) leather market.
According to analysts Euromonitor International (EMI), MENA leather trade was valued at US$4.6 billion in 2015, including the import and export of raw hides, skins, furs, and leather articles such as saddlery and harnesses, travel goods, handbags, wallets, apparel, and accessories.
The Gulf Cooperation Council (GCC) holds a 67 per cent share of that figure, with US$3.1 billion worth of exports and imports last year, spearheaded by the UAE (US$1.2 billion of imports and exports), and Saudi Arabia (US$497 million).
Saudi Arabia is also a leather manufacturing hub, with a production turnover of tanning and dressed leather (clothes, footwear, and accessories) valued at $346 million in 2015 according to EMI, and growing nearly eight per cent over the next four years to be worth $373 million by 2019.
The UAE meanwhile remained a haven of luxury spending; last year, with the retail value for the UAE’s luxury leather goods market, including wallets, bags, purses, handbags and accessories, growing 14 percent year-on-year, valuing $413 million, with this expected to nearly double in size by 2020, when the market will be worth $800 million.