openPR Logo
Press release

Saudi Arabia Luxury Apparels Market Evaluated to Reach USD 4141.4 Million in Revenue By 2030 | Infinium Global Research

10-30-2023 02:33 PM CET | Fashion, Lifestyle, Trends

Press release from: Infinium Global Research LLP

Saudi Arabia Luxury Apparels Market Evaluated to Reach USD

The Luxury Apparels Market in Saudi Arabia has witnessed a remarkable growth trajectory, reflecting a paradigm shift in consumer preferences and a surge in disposable income. According to a market research report, the Saudi Arabia luxury apparels market was valued at USD 2386.6 million in 2023 and is expected to reach USD 4141.4 million by 2030, with a compound annual growth rate (CAGR) of 7.38% over the forecast period.

To Know More Request a Sample of this Report: https://www.infiniumglobalresearch.com/saudi-arabia/sample-request/19379

The growth of the luxury apparels market is primarily attributed to the evolving tastes and preferences of consumers, driven by rapid urbanization, increasing disposable income, and the influence of social media. Furthermore, the convenience of online shopping has expanded the market's reach, enabling consumers to access luxury brands more easily. However, the market faces challenges from the availability of counterfeit products, which are affordable alternatives to genuine luxury brands.

Market Segmentation and Key Players

Saudi Arabia's luxury apparels market can be segmented based on product type, end-user, and distribution channel. Ready-to-wear apparels & loungewear dominate the market among product types, with women as the primary end-users. The online distribution channel is expected to grow at the highest CAGR, offering a wide array of luxury products on a single platform.

Leading companies in the Saudi Arabia luxury apparels market include Louis Vuitton, Gucci, Ralph Lauren Corporation, Burberry Group plc, and Dolce & Gabbana. These brands have adopted organic strategies such as partnerships, new product developments, and mergers & acquisitions to strengthen their market position.

Rising Consumer Spending and E-commerce Expansion

The increase in consumer spending, as reported by the Saudi Central Bank (SAMA), is a significant driver of the luxury apparels market. Rising household incomes, particularly among the younger population, have fueled the demand for luxury fashion items. Saudi Arabia's flourishing e-commerce industry, driven by increasing internet penetration and smartphone usage, has further accelerated the market's growth. Online platforms such as Ounass, Namshi, and Noon have made luxury brands more accessible to tech-savvy consumers, boosting sales.

Counterfeiting Challenges

Counterfeiting remains a challenge in the fashion industry, impacting sales, brand reputation, and the accessibility of luxury products. Saudi Customs has reported the destruction of over two million counterfeit goods, highlighting the growing issue of counterfeit trade in the country.

Fashion Commission's Initiatives

To support and advance the fashion industry in Saudi Arabia, the Fashion Commission has launched various initiatives such as Hidden Kaleidoscope, Fashion Incubation Program, and Fashion at the Saudi Cup. These initiatives have not only nurtured local talent but also attracted global leaders in the fashion industry to invest in the country. The recently introduced Saudi 100 Brands mentorship program provides growth opportunities to local luxury brands, solidifying their position in the market.

The Saudi Arabia luxury apparels market is on a trajectory of remarkable growth, driven by changing consumer dynamics, rising income levels, and the expansion of e-commerce. Despite challenges related to counterfeiting, the market remains resilient, offering significant opportunities for both established luxury brands and emerging local talents.

Enquire Here Get Customization & Check the Discount for the Report @ https://www.infiniumglobalresearch.com/saudi-arabia/customization/19379

Table of Content

Chapter 1. Report Overview

1.1. Report Description

1.2. Research Methods

1.3. Research Approaches

Chapter 2. Executive Summary

Chapter 3. Market Overview

3.1. Introduction

3.2. Market Dynamics

3.2.1. Drivers

3.2.2. Restraints

3.2.3. Opportunities

3.2.4. Challenges

3.3. PEST-Analysis

3.4. Porter's Diamond Model for Saudi Arabia Luxury Apparels Market

3.5. IGR-Growth Matrix Analysis

3.6. Competitive Landscape in Saudi Arabia Luxury Apparels Market

Chapter 4. Saudi Arabia Luxury Apparels Market by Product Material

4.1. Cotton

4.2. Silk

4.3. Leather

4.4. Denim

Chapter 5. Saudi Arabia Luxury Apparels Market by End-user

5.1. Men

5.2. Women

5.3. Children

Chapter 6. Saudi Arabia Luxury Apparels Market by Distribution Channel

6.1. Offline

6.2. E-commerce

Company Profiles
7.1 LOUIS Vuitton

7.1.1 Overview

7.1.2 Company Snapshot

7.1.3 Product Portfolio

7.1.4 Recent Developments

7.2 GUCCI (Kering SA)

7.2.1 Overview

7.2.2 Company Snapshot

7.2.3 Product Portfolio

7.3 RALPH LAUREN CORPORATION

7.3.1 Overview

7.3.2 Company Snapshot

7.3.3 Product Portfolio

7.4 Burberry Group plc

7.4.1 Overview

7.4.2 Company Snapshot

7.4.3 Financial Snapshot

7.4.4 Product Portfolio

7.5 Dolce & Gabbana S.r.l.

7.5.1 Overview

7.5.2 Company Snapshot

7.5.3 Product Portfolio

More Insights on this report, Speak to Our Analyst: https://www.infiniumglobalresearch.com/saudi-arabia/enquiry/19379

Reasons to Buy this Report:

=> Comprehensive analysis of regional markets of Saudi Arabia luxury apparels.

=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.

=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.

2nd Floor, Ganadish Empire, Rahatani Chowk, Pimple Saudagar, Pimpri-Chinchwad, Maharashtra 411027

About Infinium Global Research:

Infinium Global Research is a business consulting and market research firm; a group of experts that caters to fulfilling business and market research needs of leading companies in various industry verticals and business segments. The company also serves government bodies, institutes, and non-profit/non-government organizations to meet their knowledge and information needs.

Through our information services and solutions, we assist our clients to improve their performance and assess the market conditions to achieve their organizational goals. Our team of experts and analysts are engaged in continuously monitoring and assessing the market conditions to provide knowledge support to our clients. To help our clients and to stay updated with the advances and inventions in technology, business processes, regulations, and the environment, Infinium often conducts regular meets with industry experts and opinion leaders. Our key opinion leaders are involved in monitoring and assessing the progress in the business environment, so as to offer the best opinion to our clients.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Saudi Arabia Luxury Apparels Market Evaluated to Reach USD 4141.4 Million in Revenue By 2030 | Infinium Global Research here

News-ID: 3269351 • Views:

More Releases from Infinium Global Research LLP

Conveyor belt market outlook shows stable 4.17% CAGR over 2023-2030 forecast
Conveyor belt market outlook shows stable 4.17% CAGR over 2023-2030 forecast
Conveyor belts have become essential in industries ranging from manufacturing to food processing, playing a key role in automating material handling and improving operational efficiency. As the global economy continues to embrace automation, the conveyor belt market is experiencing significant growth. With a projected compound annual growth rate (CAGR) of 4.17% from 2023 to 2030, the market's value is expected to reach USD 5.74 billion by 2030, up from USD
Industrial automation market growth at 8.87% CAGR to drive USD 402 Bn by 2032
Industrial automation market growth at 8.87% CAGR to drive USD 402 Bn by 2032
The global industrial automation and equipment market is undergoing a transformative phase. As industries across various sectors face increasing pressure to enhance operational efficiency, productivity, and safety, automation is emerging as a vital solution. Industrial automation integrates advanced technologies like robotics, artificial intelligence (AI), and the Internet of Things (IoT) to reduce human intervention and streamline manufacturing processes. The equipment used in these automated operations plays an essential role in
Precision manufacturing tools market to reach USD 57 Bn by 2032, CAGR of 4% forecasted
Precision manufacturing tools market to reach USD 57 Bn by 2032, CAGR of 4% fore …
The global precision manufacturing tools market is witnessing significant growth, driven by increasing demand for high-quality and complex tools across multiple industries. These specialized tools, designed to achieve exceptional accuracy, are indispensable in manufacturing processes that require stringent tolerances and quality standards. As industries like aerospace, automotive, electronics, and medical devices expand, so too does the need for cutting-edge precision manufacturing tools that can deliver reliability, consistency, and efficiency. In 2023,
Heavy duty industrial tools market projected to reach USD 63 Bn by 2032 from USD 50 Bn
Heavy duty industrial tools market projected to reach USD 63 Bn by 2032 from USD …
The global market for heavy-duty industrial tools is experiencing steady growth, driven by technological advancements, industrial expansion, and rising demand across key sectors. As of 2023, the market size has surpassed USD 50 billion and is projected to expand at a compound annual growth rate (CAGR) of 2.62%, reaching USD 63 billion by 2032. The heavy-duty industrial tools market encompasses a wide range of tools designed to withstand tough conditions

All 5 Releases


More Releases for Saudi

Saudi Wakala Offers Efficient and Reliable Saudi Visa Stamping Services
Saudi Wakala, a renowned agency specializing in Saudi visa stamping services, is proud to announce its commitment to providing swift and reliable visa processing for travelers to Saudi Arabia. Located in New Delhi, Saudi Wakala has established itself as a trusted partner for individuals and businesses requiring efficient visa stamping services. Efficient Visa Processing Understanding the complexities and time-sensitivity associated with visa stamping, Saudi Wakala offers a streamlined process managed by an
saudi construction company,TOP saudi arabia construction companies list,civil co …
Abdul Ali Al-Ajmi Company Advanced Support Company Al Ashbelya Engineering Al-Dour Engineering Contracting Est. https://www.gdwatches.cn/ Free engineering construction consultation Email:nolan@wholsale9.com Alfanar Arabian Tile Co. Ltd. (ARTIC) Assad Said for Contracting Co Ltd Automated Buildings Company Bazy Trading and Contracting Bin Dayel Contracting Cercon City Cement Company Dar Al Majd EG & G Middle East East Consulting Engineering Center El Seif Engineering Contracting Company El Seif Engineering Contracting Company Engineering Development Co for Contracting FCC Company https://www.gdwatches.cn/ Free engineering construction consultation Email:nolan@wholsale9.com Jones Engineering Group Masar Consulting Engineer Meinhardt Arabia Mohammed M. Al Rashid Co. (MARCO) Qureshi Telecom Contracting &
Saudi Arabia Agriculture Market, Saudi Arabia Agriculture Industry, Saudi Arabia …
Saudi Arabia Agriculture is focussed on the spread of dates, dairy farm merchandise, eggs, fish, poultry, vegetables, and flowers to markets round the creation because it has attained its own potency within the production of such merchandise. The private sector additionally plays a role within the nation's agriculture, because the government offers long-term interest-free loans and inexpensive water, fuel, electricity, and duty-free imports of raw materials and machinery. Over the past
Saudi Arabia Pharmaceutical Market | pharmaceutical companies in saudi arabia, p …
In order to study the various trends and patterns prevailing in the concerned market, Market Research Reports Search Engine (MRRSE) has included a new report titled “Saudi Arabia Pharmaceutical Market” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future. The report examines Saudi Arabia pharmaceutical market for the period 2016–2026. The primary
Saudi Arabia Airport Privatization Sector Saudi Arabia Airport Sales Report 2022
For Report Sample Contact: neeraj@kuickresearch.com or +91-11-47067990 Report Table of Contents Saudi Arabia Aviation Industry Overview Privatization in Saudi Arabia Saudi Arabia Civil Aviation Regulatory Authority 3.1 General Authority of Civil Aviation (GACA) 3.2 International Air Transport Association Saudi
Saudi Arabia Mutual Fund Sector Saudi Arabia Mutual Fund Sales Report 2022
For Report Sample Contact: neeraj@kuickresearch.com or +91-11-47067990 Report Table of Contents 1. Saudi Arabia Financial Sector Overview 2. Saudi Arabia Stock Market and Exchange Overview 3. Saudi Arabia Mutual Fund Market Overview 4. Saudi Arabia Mutual Fund Program and Managers 4.1 Fund Managers and Companies 4.2 Types of Mutual Funds 5. Saudi Arabia Mutual Fund Asset Allocation 5.1 Market Overview 5.2 Mutual Fund Market Indicators