2025 . 07 . 28
GCC luxury market has defied global slowdown, says Chalhoub Group’s Jasmina Banda
At a time where North American department stores are shuttering, where Asia and Europe are cautious markets, the Gulf is thriving – and will open 7 new luxury malls by 2027. Prestige Beauty enjoys a 12% growth rate and Fragrance, appreciated and worn enthusiastically by the luxury consumer, accounts for nearly 50% of total sales. It’s a region to watch and where niche brands should be present.
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