Share of new luxury store openings in Middle East doubles in 2022 | Asian Business Review
, Middle East
170 views
Photo by Pixabay: https://www.pexels.com/photo/empty-escalators-inside-building-54581/

Share of new luxury store openings in Middle East doubles in 2022

The focus of the new openings is in Dubai.

The share of new luxury stores that opened in the Middle East in 2022 doubled to reach 6% of the total globally, according to a report by Savills.

This is due to the luxury brands that continued to focus on “relatively underserved affluent markets” amidst the reduced international travel.

READ MORE: China leads new stores opening in 2022

“Dubai remained a primary focus for these new openings in the region, but Saudi Arabia also become a key market for new luxury store openings,” the report read.

The total of new luxury stores that opened last year increased by 11%, with China having the largest market share.

Follow the link for more news on

Join Asian Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Companies move to avert cash-flow crisis
There is increased corporate demand for liquidity and risk coverage, says HSBC.
SWIFT cites high cost of splintered financial world
Many digital payment platforms remain disconnected from each other.
Asia’s industrial giants take over the world
K-pop, anime, Bollywood, and Asian beauty trends have also gained global traction.