ME fashion industry to grow 15pc
Dubai, January 25, 2010
The fashion sector in the Middle East region is expected to post a 15 per cent growth in 2010, according to a study conducted by the French Fashion University Esmod – Dubai, a leading fashion institution in the region.
The study foresees numerous opportunities in the $12 billion 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 UAE is fast emerging as the global fashion hub, the study said, citing an AC Nielsen survey which 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.
According to Esmod, the introduction of the Armani Hotel Dubai in the recently-opened Burj Khalifa tower reflects the continuous evolution of the Emirates’ fashion scene.
'The cosmopolitan city of Dubai in particular is renowned as 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,' the study pointed out.
A similar Dh26 billion ($7 billion) mixed-use residential and retail fashion district called ‘Style City’ is also in the works in Abu Dhabi, it said.
“Our industry is among the few in the world which remains optimistic despite the downturn. More so here in the Middle East, where the combination of high spending power and a strong fashion sense have sustained the dynamism of the fashion market,' Tamara Hostal, director and founder of French Fashion University Esmod – Dubai.
One of the important things for our industry to do is to find and develop more talent that can help strengthen the region’s fashion culture. They will be key to bringing unique designs which harmonize modernity and Arab heritage to the global stage,” she added.
The ‘Global Fashion Industry – Growth in Emerging Markets’ report released in 2009 grouped the UAE with South Africa, Singapore, India, Russia, and Brazil as new and unique emerging global fashion markets.
It gave the UAE fashion scene good scores for government support, awareness of international fashion brands, organizational support, demand for fashion apparel, and recognition of local designers. The report adds that the number of major fashion events held in the Emirates more than doubled from four in 2004 to nine in 2008.-TradeArabia News Service