INSEAD Day 4 - 728x90

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

Saudi Arabia, UAE fashion industry set for boom

The fashion industry has seen a drastic change in several aspects over the past couple of years now.
  • The ecommerce boom has led to more and more people buying apparel and accessories online
  • They are doing so especially after they check reviews and sustainability factors of their intended purchase

The fashion industry has seen a drastic change in several aspects over the past couple of years now.

On one hand, the demand for high fashion has only risen, while on the other hand small pockets have emerged where people have taken to “thrifting”: They pay less-than-store-bought prices for high-fashion clothes that have been worn by others.

Social media has played a part in this, just like it has helped boost a sense of fashion across the board with selfie-culture.

Another way the industry has changed is due to the demand for sustainability in it, especially in the high-fashion segment.

That has led many brands to actually advertise this fact to make themselves more attractive to the environmentally-conscious crowd.

And then there is the ecommerce boom, which has led to more and more people buying apparel and accessories online, especially after they check reviews and sustainability factors of their intended purchase.

Now, with the global economy recovering, the UAE and Saudi Arabia seem poised to see their respective fashion sectors double their revenues.

Here’s a look: