According to a new study, sales growth in the global luxury market will slow this year to 5 percent from 13 percent in 2011 at constant exchange rates due to lower spending rates among Chinese customers and concerns about the global economy.
Consultancy Bain & Co published a report on Monday together with the Italian luxury goods trade body Altagamma. The report showed that the first signs of a weakening began to appear in 2012, in the luxury industry’s main engine of growth – China. Read more
Prada opens a news store in Dubai’s Mall of the Emirates
The store, designed by architect Roberto Baciocchi, occupies about 1,140 square metres on a single level, and it offers the men’s and women’s ready-to-wear, footwear, bags and accessories collections. Read more
- 140 exhibitors from 18 countries showcasing fine jewellery at ADNEC from October 17-21
- More than 10,000 visitors across the Gulf expected to attend flagship event
- Nearly 18 per cent of global gold supply shipped through the UAE
Luxury shoppers across the region are expected to gather in the national capital this week as the world’s finest jewellery, gemstones and designer timepieces go on display this week at the Abu Dhabi International Jewellery and Watch Show (JWS). The Jewellery and Watch ShowAbu Dhabi is being held at the Abu Dhabi National Exhibition Centre from October 17-21.
The exhibition, which brings together more than 140 exhibitors from 18 countries, is expected to see more than 10,000 visitors descending on the emerging luxury capital of the region. The internationally renowned show is completely open to the public, who will get a chance to see the latest jewellery and watch designs from the world’s top notch designers and brands. Read more