UAE may become global fashion centre
In the next 1-2 years, experts predict an acceleration in the growth rate of the fashion industry. This is due to the fact that many well-known international brands are planning to enter the UAE market. Due to this, the Emirates can become a global fashion centre.
According to Tommy Lee, domain expert and managing director of Modern Productions, a fashion and style event platform, there were global changes in customs regulations and legislation in January 2023 that lowered the threshold for cross-border trade. These innovations have effectively removed entry barriers and an era has dawned where it has become much more favourable for international brands to enter the UAE market.
Tommy Lee also added that a combination of factors such as tourism, the influx of wealthy individuals (HNWIs), globally recognised industry events, advanced infrastructure and digital transformation have contributed to the dramatic growth of the UAE fashion industry. Over the next five years, the fashion industry in the UAE and across the GCC region is expected to continue its growth with the brand ecosystem expanding its horizons and contributing to the further development of the fashion and retail sector in the country.
Mr Lee also announced that the Mode Dubai exhibition will be launched in December. This event will present a harmonious mix of premium global brands and emerging local boutiques, through which there will be a new opportunity for interaction, networking and inspiration for established fashion houses in the UAE.
According to Statista, the UAE’s fashion industry is currently valued at nearly US$ 5.5bn, with various segments such as luxury brands, street fashion, casual wear and emerging designer collections contributing to it.
The growth of the industry is expected to spread to other sub-sectors such as eco-friendly fashion, retailing with latest technology and developing local design talent.
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