GCC Luxury Retail

Executive Summary

Luxury retailing is thriving in GCC region, propelled by affluent locals, splurging expatriates, growing brand-aware youthful population and deep-pocketed tourists. High average incomes and subsidized fuel prices in the region make it easier for consumers to choose top brands, as compared to Europe and many Asian markets. GCC has opened up exciting growth possibilities for key industry players, and continues to be a major destination for a wide range of luxury brands. _In this report, we have analyzed the major segments of luxury retail, and their presence across the GCC. The report provides an overview on various entry modes, formats of the luxury retail, and retail infrastructure in the GCC countries. Additionally, the report provides details of existing and upcoming prominent malls in the region, and examines the fundamental growth drivers and challenges facing the sector.