THE EMERGENCE OF A MIDDLE EASTERN FASHION
POWERHOUSE
The Middle East
has always been a subject of interest in the world. Whether it concerns politics, wars, cultural
differences or tourism, the Middle East seems to draw attention to itself. But now, could this developing region be home
to the world’s next fashion capital?
The Middle East is
divided into two types of countries: oil-producing countries such as Saudi
Arabia, Iran, Iraq, United Arab Emirates and Kuwait and non-oil-producing
countries which include Lebanon, Syria, Israel, and Jordan to name a few. Not surprisingly, according to a pole done in
June 2013 of the top 10 richest countries in the world using gross domestic
product (GDP) per capita provided by the International Monetary Fund’s April
2013 World Economic Outlook Database as well as CIA World Factbook, one of them
was a Middle Eastern oil-producing country.
The United Arab Emirates came in 6th, proving that
oil-producing countries can support a high-fashion industry.
This is a country
were Dubai and luxury are one and the same, where one can find the tallest
tower in the world, where man-made islands are shaped to look like palm trees
and the only country where luxury cars are synonymous with police cars. Where else will you find a Ferrari, a
Lamborghini and a $2.5 million Bugatti Veyron part of a police fleet?
With a desire to
elevate the city’s glamour and luxury as well as their economy, Dubai looks to
include other industries that would complement those they already focus
on. This is the primary reason for
Dubai’s pursuit of the multi-billion dollar fashion industry. And though the U.S., Europe and Japan are the
leaders of this industry, Dubai is the force to contend with in the Middle
East, as this city accounts for nearly half of the region’s market share with
regards to retail spending.
Dubai has been
ranked the second-most important destination for international retailers after
London by real estate services firm CBRE as the majority of all leading
international retailers have opened stores in Dubai and the consulting firm
Bain and Company has determined that a third of all luxury spending (clothing,
accessories, cars) in the Middle East occurs in this fast developing city.
Unfortunately,
this does not satisfy the city’s officials, as they want to develop Dubai’s
creativity by making it the place to be for the Middle East’s best designers.
Construction for
the Dubai Design District, or D3 has begun.
This giant project will be solely dedicated to the development of the
fashion industry in Dubai and will house design studios, and boutiques, as well
as hotels, high-end departments, and of course, shopping. According to the CEO of Tecom Investments, Amina
Al Rustamani, who is developing D3, the first phase of construction will
measure approximately 18 million square foot and will cost $1 billion.
The goal is to
create a space that caters to everyone living in Dubai, as the majority of the
population, around 90% of its population are foreigners. This strong multinational presence is great
for Dubai designers because they see it as a means to get noticed by the world. The concepts and ideas for D3 will make it
uniquely its own, separating it from Milan and Paris.
Bain and Company
stated that nearly a third of the $7.6 billion spent on fashion in the Middle
East in 2012 was spent in Dubai. This
can be explained by a fashion driven region.
In the Middle
East, fashion is part of the culture.
‘Fashion is not merely a luxury, but a necessity in this part of the
world’, says Lebanese designer Zayan Ghandour.
With this in mind, many believe that in the Middle East women dress
relatively conservatively, though locals disagree. Underneath the traditional long black robes
over clothing and scarves over their hair and faces, they are ‘dressed to the
nines’, with their high fashion clothing, flawless makeup without a single hair
out of place. Women love to flaunt
themselves and their beauty, whether in public or during private gatherings. In the Middle East, fashion means culture.
And in Dubai it
also means business. In Dubai, shopping
is tax free, and with 40 malls in the UAE, it isn’t surprising that the Oxford
Business Group announced that a third of Dubai’s economy comes from their
retail industry. And with over 75 million visitors last year, it’s no wonder
why the Dubai Mall is looking to expand its retail space.
The Mall of
Emirates is looking to increase their sales substantially and plans to invest
$1 billion over the next 5 years in order to introduce new stores as well as
restaurants to their 466 stores currently available to visitors.
These expansions
will contribute to the planned increase in tourism in order to prepare for the
World Expo in 2020, which Dubai will be hosting. Officials expect 17.5 million foreign
visitors to attend the 6-monthlong World Expo.
According to the
fashion market analyst of Bain and Company, Cyrille Fabre, tourism and fashion
go hand in hand in the UAE as shopping is the third largest reason for tourists
to visit Dubai.
He said that ‘fashion
is a big tourist attraction and as the fashion industry grows, tourism grows
and vice versa’.
So is Dubai the
next fashion capital of the world? Evidently, the city has the financial
backing to fund the necessary requirements as well as being a very important
Middle Eastern tourist destination.
Could it be enough?
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