Classifieds | Archives | Jobs | About TGT | Contact | Subscribe
Last updated 0 minute ago
Printer Friendly Version | TGT@Twitter | RSS Feed |
Dubai firm on becoming fashion capital of world
February 15, 2014
 Print    Send to Friend

DUBAI: Dubai and luxury are nearly synonymous. The city is home to the world’s tallest tower, massive man-made islands in the shape of palm trees and a fleet of police cars that includes a Ferrari, a Lamborghini and a $2.5 million Bugatti Veyron.

Now, to boost its glamour factor and economy, the city has its eyes set on the multi-billion-dollar-a-year global fashion industry, which is currently dominated by the US, Europe and Japan.

But in the Middle East, Dubai is the powerhouse, raking in almost half of the region’s market share of retail spending.

Dubai’s modern skyscrapers, over-the-top glitz and flair for opulence provide the well-heeled a seemingly endless supply of indulgence and colour.

Real estate services firm CBRE ranks Dubai as the second-most important destination for international retailers, after London. A little more than half of all major international retailers have outlets in Dubai, and a third of all luxury spending in the Middle East happens here, according to consulting firm Bain and Company.

But the city’s officials want more. They want Dubai to evolve into a hub of creativity that attracts the region’s best designers.

Associated Press

Add this page to your favorite Social Bookmarking websites
Post a comment
Related Stories
Expo 2020 countdown starts on exotic note
Inayat-ur-Rahman Dubai: The UAE has officially begun the three-year countdown for Expo 2020 Dubai, the six-month-long mega event on Friday. As it stands, Dubai is ..
Expo-related development projects hit $33 billion
DUBAI: The combined value of the Expo 2020-related development projects has touched $33 billion (Dhs121 billion) as the UAE begins the three-year countdown for the six-mo..
Expo ’20 countdown begins on Friday with brief of event
SHARJAH: Expo is the largest global business concept. It brings countries, companies, people, products, services and innovations of all sizes and nature together from all..
Mohammed approves key projects for Expo
DUBAI: Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed Bin Rashid Al Maktoum has approved new key projects planned to be exec..
Expo progress encouraging: Mohammed
DUBAI: Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed Bin Rashid Al Maktoum, visited the Expo 2020 Dubai Site Office on Mond..
Advertise | Copyright