Luxury in the Arab World
DUBAI rich soon another way to flaunt their wealth when the Burj al-Arab hotel guests began selling iPads individual 24-karat gold. Big Spender in the Middle East do much of their purchases while traveling abroad as they did, because the oil money began to flow in the 1970s, but now they also have a lot of locations at home splashing their money. Shopping centers and Gulf foreign buyers from Russia, India and Africa, too. Bain & Company estimates that luxury spending in the region has moved from 10% last year to just over $ 8 billion, slightly less than half the amount in the People's Republic of China.
How to wear elsewhere, like the rich Arabs known brands. But they are primarily interested in the offer phase and novelty. According to Patrick Chaloub, chief Chaloub Group, a luxury retailer, customers know more about what they want, and they want something different. Selina Dixon of the Abu Dhabi office Quintessentially, a "lifestyle management" company, said: "It's like." You have a Maserati OK, I'm a Bentley fours ordered "For young people, consumers, the more exotic the better, Mrs. Dixon says:" People say:. Can you give me a Bengal tiger for decoration [at a party] Now I like a pygmy goat have "a gift, and it has to be this size and color.
Muslim women usually wear a long coat or abaya (cloak) on their clothing, so external accessories such as handbags and sunglasses (and perfumes) are popular. In the five years to 2012, sales of equipment 74%, watches and jewelry, and 65% in the United Arab Emirates, rose says Euro Monitor, a market research company.
The conservatism of Arab society also leads to for entertainment on the measurement of demand. Bain found that the world of the rich, more money on the experience and do not want to spend as objects. But this is nowhere more than in the Gulf region, where the places are limited socializing in the evening. So rich Saudis will pay dearly for a famous soccer player make an appearance at their parts, or the head of a renowned restaurant give a cooking demonstration. In the Arab market and luxury brands like Beckham can be as valuable as Cartier, Gucci and Rolls-Royce.