Can The Khaleeji Power Purchaser Save The Luxury Industry?

With the international fashion calendar in full swing‭, ‬as the spring/summer 2026‭ ‬collections take to the catwalks in Europe this‭ ‬weekend‭, ‬the luxury industry's attention is likely better deployed closer to home‭. ‬With global high-end brands experiencing deep malaise‭, ‬the Gulf states‭ ‬-‭ ‬especially the UAE and KSA‭ ‬-‭ ‬are working hard to rebalance the scales of declining sales‭.‬

Next Tuesday marks the first day of Milan Fashion Week‭, ‬and ex-Balenciaga designer Demna‭ (‬he prefers first name only‭) ‬debuting at the creative helm of Gucci‭, ‬but it's the regional celebrations for Saudi National Day‭ (‬Sep 23‭) ‬that canny fashion execs will look to‭, ‬in a bid to reflect‭, ‬revere and respect luxury's most resilient customer base‭. ‬

When industry title‭ ‬Business of Fashion‭ ‬along with consultancy McKinsey‭ & ‬Co asked global fashion executives to cite the most resilient global markets‭, ‬51‭ ‬per cent named the Middle East‭ ‬-‭ ‬the region that received the most positive response‭. ‬

Who knows if shades of green are in Demna's range plan for Gucci‭; ‬either way‭, ‬on Tuesday‭, ‬streets from Jeddah to Riyadh and all across the Kingdom will be crammed with Saudis wearing patriotic green and waving flags while tailgating enthusiastically‭.‬

Saudi is the largest market for apparel sales in the region‭, ‬projected to reach almost‭ $‬18‭ ‬billion‭ (‬Dh66‭ ‬billion‭) ‬this year‭, ‬according to Statista Market Insights‭. ‬The UAE is primed to reach just shy of‭ $‬11‭ ‬billion‭ (‬Dh40‭ ‬billion‭) ‬in apparel sales this year‭. ‬

That said‭, ‬the UAE is forecast to slightly outpace Saudi's growth‭, ‬according to Euromonitor‭, ‬with an annual growth of 5‭ ‬per cent forecast to 2030‭ (‬versus 4.8‭ ‬per cent in Saudi‭). ‬Both significantly outperform the global apparel market‭, ‬forecast to grow at 3.7‭ ‬per cent over the same period‭, ‬while China's apparel industry is set for just 0.6‭ ‬per cent growth annually in the period to 2030‭.‬

Whichever way you slice the stats‭, ‬the UAE and KSA's fashion shoppers are doing much of the heavy lifting when it comes to keeping luxury afloat‭. ‬We may be a small market on the global stage‭, ‬but we absolutely punch above the weight of our Etoile La Boutique carrier bags‭. ‬Both Dubai's booming multinational population and KSA's young‭, ‬ambitious nationals are equally hungry for fashion that feeds the way we live‭, ‬travel‭, ‬and show up for life‭.

‬“A brand needs to speak the language of the consumer‭; ‬even the smallest colloquial nuances can make a world of difference in market penetration‭,‬”‭ ‬says Jeddah-based Marriam Mossalli‭, ‬founder of luxury communications agency Niche Arabia and co-founder of PowderBeauty‭.

‬In‭ ‬the beauty arena‭, ‬that might mean the cleverly coded Asteri cosmetics‭, ‬whose lipsticks come packaged in envy-inducing emerald cases and whose formulations promise desert-proof staying power‭. ‬In fashion‭, ‬brands need to learn to speak to style tribes‭; ‬literal and cultural‭. ‬Take the subtle aesthetic shifts across the Kingdom‭, ‬what Mossalli refers to as‭, ‬“the Hejazi versus Najdi aesthetic‭ ‬-‭ ‬think Cali laidback versus New York smart casual”‭, ‬that typify the Red Sea cities of western Saudi‭, ‬where a bohemian flair wafts through light-coloured abayas‭, ‬in contrast to the contemporary cut and thrust of monochrome modesty powering the central hubs‭. ‬

So‭, ‬while Demna will be wooing the world with his new vision for Gucci laid out next week‭, ‬I'll wager that young‭, ‬hip Saudis are just as likely to be excited by pieces in jewellery brand Yataghan's line-up‭. ‬Launched at Riyadh Fashion Week‭, ‬Yataghan's‭ ‬'Turathi'‭ ‬collection bears a‭ ‬'Love Saudi'‭ ‬engraving‭, ‬crowned by the brand's signature princess-cut emerald‭, ‬making it the ultimate patriotic power purchase‭.‬

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