UAE. Classic brands are playing by different rules today to grow in the new markets of the East. But is the “New Look” worth it?
The continued growth of emerging markets like the Middle East and China are “transforming the luxury industry”, said Claudio D’Arpizio, a Bain & Company partner and lead author of its ‘Spring 2011 Update: Luxury Goods Worldwide Market Study’ upon the report’s release in May. “Luxury has made a brilliant return to the retail stage, but the script has been re-written” to suit both the escalating demand and the new consumer.
The Chalhoub Group,
INTERNATIONAL. The investment community is significantly more likely than CEOs to consider misaligned performance incentives as a barrier to change: almost half (49%) of investors surveyed in the report flagged this as a major concern compared to only 17% of chief executives.
UAE. 51% of all Dubai hotels in mid-market segment versus 89% in New York; PwC research released at ATM 2016 touts construction figure of US$80k per room as incentive for developers looking for solid returns in high demand segment.
SAUDI ARABIA. The slowdown is due to demand-supply mismatch and the country's overall macroeconomic scenario, according to JLL's latest report; The existing mismatch is expected to widen as more retail and office supply is expected to enter the market with the easing of backlog projects.
INTERNATIONAL. "It's going to come to a point where there is just going to be no real economical benefit to any kind of production staying at any kind of level in those countries. And once they come off, that's going to obviously support oil prices."