Summary: The second edition of the Modern Woman Show reported gains in luxury retail–particularly jewelry–despite currency collapses
Source: Khaleej Times
Writer: Rohma Sadaqat
The demand for high-end niche products, especially in the fashion and lifestyle segment, has helped the luxury sector in the UAE maintain its positive momentum, experts at the second edition of the Modern Woman Show said.
“These past few months have been quite challenging for us, especially in light of the various currency collapses,” said AW Rostamani Lifestyle CEO, Greig Fowler. “However, as far as the more aspirational customers in the market are concerned, the demand for luxury products is till there, especially in the jewellery segment.”
Asked how the group had performed in 2016, Fowler noted that 2016 was a “good year”, which saw the launch of two new concepts – Georg Jensen, and Apartment 51. “We are quite unique in that we are a growing business that is still establishing its footprint in the region for our brands. The key for us now is merging our retail presence with our digital presence to provide a unique customer experience.”
Read the story here: Khaleej Times