ARAB LUXURY WORLD
THE CONFERENCE ON THE BUSINESS OF LUXURY IN THE MIDDLE EAST
Arab luxury world brings the regional and the international luxury industry together once a year to share,
interact and exchange knowledge, data and research, and also to understand consumers' insights through unique
research, to make sense of major disruptions in the business of luxury and to find ways to focus on the growth
of core resident consumers in an over-abundant market.
From Arab millennials to digital engagement with consumers,and from the rise of boutique malls to the challenges
of over-retailing and e-commerce, the regional luxury landscape is changing. Geopolitical equations, economic
performance amid oil price challenges, a volatile tourism industry and looming taxes in the GCC are some of the
issues that will be discussed and dissected by more than 100 experts in complete depth, so that professionals
associated with the luxury industry are empowered to take growth-oriented decisions.
What is shaping the new consumers and what are they expecting from luxury brands? What is the new definition of luxury consumption? What do brands need to change to adapt to this new reality?
Consumers with high disposable income and their strong drive to novelty ensured years of growth for the luxury industry in the Middle East. Wrong strategies, retail expansion and local partners increased, for some brands and retailers, the market adjustment that started in 2015. The Gulf government’s budget slashing, coupled with the amendment to spending cuts and taxes, took its toll on the luxury industry and retail.
Changes that were gradual in the past are now visible and fast. Saudi Arabia’s transformation, which includes the openness of its economy and privatization, has put the country as a top business destination in the region. Global and regional consumers are changing their habits and their approach to luxury. With technology and retail transformation along with changes in habits, consumers are demanding more from the brands that they love. Coupled with the emergence of millennial consumers as well as new consumption habits and experiential needs, fundamental pattern changes are visible. How are brands and retailers adapting to those changes? Which products and strategies work best and which strategic change is being made? From global trends and new consumers to new product categories, what are consumers going to ask for? Which key strategic change should companies undergo?
Firas Kandalaft, Head of Marketing and Communications, Bentley Middle East, talks demand for luxury car brands in the region and unveils the marque’s electric car strategy. Low oil prices and global macroeconomic factors are…Read more
Premium car maker Volvo recently announced its partnership with Nahwasharq Co. Ltd. as its official importer for Saudi Arabia. ”Established in 2007, Nahwasharq Co. Ltd. specializes in dealership operations for the premium, sport-luxury…Read more
Of all touristic sites Oman was able to place itself as a hub for prestigious hotels in the region. Al Baleed Resort Salalah by Anantara and Anantara Al Jabal Al Akhdar Resort in Oman are recognised…Read more
The Louvre Museum in Paris is a magnet for millions of people every year. It is one of the most important museum attractions in the world. People go there to be immersed in the…Read more
The recent opening of the Louvre Abu Dhabi puts into perspective the nature of the GCC region as one moving towards a steadfast cultural openness and art appreciation. That is the first universal museum in the…Read more
Saudi Vision 2030 has the potential to attract $1 trillion in inward FDI over the next 15 years, according to experts. The vision outlines Saudi Arabia’s ambitious transformation plans, and aims to…Read more
TAG Heuer announced the launch of a unique timepiece it has designed in collaboration with the Dubai Department of Tourism & Marketing (Dubai Tourism) at Arabian Travel Market (ATM). Luxury timepiece manufacturer put the Dubai…Read more
Even as Middle East carries are struggling with slowing growth and dwindling revenue, International Air Transport Association (IATA) reveals that the region’s airlines had the strongest regional annual traffic growth for the fifth year…Read more
Trump banned travellers from 7 countries in Jan *Study says move has deterred other travellers too Seattle judge suspended ban order last week and case is in court President Trump banned travellers from seven…Read more
Abu Dhabi’s Etihad Airways and German carrier Lufthansa will hold a joint news conference on their cooperation plans in Abu Dhabi on Wednesday, the airlines said on Sunday. Etihad and Lufthansa last month signed…Read more
Noon, the Middle East’s largest online shopping platform, will use the high-street fashion segment as a central plank in its strategy to dominate the region’s fast-growing e-commerce sector. The retail powerhouse has announced that…Read more
While the hype might suggest otherwise, virtual reality (VR) won’t become mainstream in 2017. However, its industrialization will start to gather momentum. VR has already been used as a training tool in medicine, and we…Read more
L’Oréal-UNESCO Middle East Women in Science. (Image: supplied) * Four Arab women scientists were awarded fellowship endowments for their research * The winners were selected from a diver pool of applicants * Winners are from the UAE, Saudi…Read more
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