{"id":23410,"date":"2023-06-27T13:49:39","date_gmt":"2023-06-27T13:49:39","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=23410"},"modified":"2023-06-27T13:49:39","modified_gmt":"2023-06-27T13:49:39","slug":"saudi-fashion-sales","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2023\/06\/27\/saudi-fashion-sales\/","title":{"rendered":"Retail fashion sales in Saudi Arabia to hit $32 billion by 2025, report shows"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\n<span data-preserver-spaces=\"true\">Retail fashion sales in Saudi Arabia are set to surge by 48 per cent and reach $32 billion by 2025, according to the report\u00a0<\/span><em><span data-preserver-spaces=\"true\">The State of Fashion in the Kingdom of Saudi Arabia by<\/span><\/em><span data-preserver-spaces=\"true\"> the <a href=\"https:\/\/fashion.moc.gov.sa\/en\" target=\"_blank\" rel=\"noopener\">Saudi Fashion Commission<\/a>.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This represents an annual growth rate of 13 per cent, with luxury retail posting a 19 per cent growth.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">CEO of the Fashion Commission, Burak Cakmak, said: \u201cThe \u2018State of Fashion in the Kingdom of Saudi Arabia\u2019 report tangibly demonstrates what we have long known to be true: the scale of the opportunity that now exists for Saudi Arabia\u2019s emerging domestic fashion industry can hardly be overstated.&#8221;<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The trend is said to be fuelled by the country&#8217;s economic expansion and growing population, with apparel, accessories, footwear and luxury goods poised for significant gains.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Saudi Arabia\u2019s <a href=\"https:\/\/www.meretailnews.com\/2023\/06\/21\/tfk-acquires-opio\/\">fashion industry<\/a> holds the largest projected growth rates of any other large, high-income market, the report noted.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cSaudi Arabia\u2019s fashion industry is well-positioned to succeed. We are building the foundations for a robust, internationally networked value chain. Our vision is to develop a circular and sustainable industry, with a robust regulatory system, which allows local brands to share their identity with the rest of the world and presents opportunities for global brands and entrepreneurs,&#8221; said Mr Cakmak.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The fashion report provides a detailed overview of the industry\u2019s size, growth and key trends, alongside an analysis of the competitive landscape, consumer preferences, emerging designers and sustainable practices within the sector.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Founder and CEO of The Webster, Laure Heriard Dubreuil, said: \u201cOver recent years, we have witnessed the extraordinary transformation of Saudi Arabia\u2019s role in fashion. The transition from a predominantly domestic-focused market to one that is now participating on the global stage demonstrates a clear intention to invest in the industry.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThe report and its manifestation in a unique design is but one example of what we can expect from Saudi\u2019s burgeoning fashion scene, as the Fashion Commission continues to drive progress.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The report demonstrates how the transformative nature of Saudi\u2019s cultural development as a key pillar of the Saudi Vision 2030 led to an upsurge in sportswear and general athleisure apparel.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">As a result of the government initiatives, sports apparel has become a fast-growing product category in Saudi with $1.4 billion in sales in 2022, which is bound to grow by 21 per cent by 2027.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In 2022, Adidas Group, Nike and Puma goods accounted for more than 50 per cent of total sales in Saudi.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Retail fashion sales in Saudi Arabia will shoot up by 48 per cent to reach $32 billion by 2025, says a new report by Saudi Fashion Commission<\/p>\n","protected":false},"author":40,"featured_media":19293,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4484,1],"tags":[4058,3988,2683],"_links":{"self":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/23410"}],"collection":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/comments?post=23410"}],"version-history":[{"count":2,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/23410\/revisions"}],"predecessor-version":[{"id":23412,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/23410\/revisions\/23412"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media\/19293"}],"wp:attachment":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media?parent=23410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/categories?post=23410"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/tags?post=23410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}