Middle East luxury market outperforms global industry rate, says Chalhoub Group president ...Saudi Arabia

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Middle East luxury market outperforms global industry rate, says Chalhoub Group president
DUBAI: Leveling off in July 2023 and returning to normal on a global scale after a spike in consumption following the COVID-19 pandemic, the luxury market is currently witnessing “challenges requiring more collaborations among retailers, brands, developers, and between the private and public sector,” said Patrick Chalhoub, president of Chalhoub Group, in an interview with Arab News en Franҫais. “We recovered quickly post COVID-19 and in 2021, luxury grew at a rate of 10-15 percent compared to 2019,” he added.

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