Government-Supported Heritage Festivals Driving Increased Spending: Heritage festivals, backed by government initiatives, are pivotal in amplifying luxury spending within the GCC. These festivals, intertwining culture, tourism, and premium retail, feature prominently. In Saudi Arabia, the Riyadh Season 2024 included high-profile events like the “Christian Dior: Designer of Dreams” exhibition, drawing international celebrities and promoting luxury shopping amidst historic venues. The United Arab Emirates’ “Timeless Eid, Timeless Luxury” campaign effectively merges luxury retail promotions with traditional holidays. Such initiatives consistently spur spending on apparel, accessories, and gifts by reinforcing a cultural affinity towards luxury shopping.

Rising Availability of Counterfeit Products: The GCC luxury market faces challenges from the proliferation of counterfeit goods, exacerbated by the ascending use of online distribution channels that exploit shipping regulation loopholes. Authorities in Kuwait, for instance, seized substantial quantities of fake products, underscoring the need for robust strategies. Brands are increasingly employing technologies such as blockchain and QR codes for product verification and launching consumer education campaigns to combat this issue. Ongoing collaboration among governments, brands, and consumers remains vital to effectively tackling counterfeiting activities.

Additional Market Drivers and Restraints Include:

• Increased preference for sustainable luxury products.

• Expansion in luxury shopping malls and real estate.

• Regulatory challenges and compliance costs.

Segment Analysis: In 2025, the clothing and apparel segment led the GCC luxury goods market, capturing 35.31% of the share, driven by the cultural appeal of traditional garments like abayas and kanduras, alongside luxury occasion wear. Watches emerged as the fastest-growing segment, projected to grow at a CAGR of 10.52% through 2031. The demand for exclusivity and craftsmanship has led watchmakers to introduce Gulf-exclusive designs, further propelled by events like Dubai Watch Week. This segment is flourishing as high-net-worth individuals continue to fuel demand both online and offline.

The comprehensive GCC Luxury Goods Market report is segmented by product type, end-user, distribution channel, and geography, providing detailed forecasts and value estimations.

Key companies covered in the report include LVMH Moet Hennessy Louis Vuitton, Kering SA, Chanel SA, and Rolex SA among others, ensuring extensive market insights and competitive analysis.

A selection of companies mentioned in this report includes, but is not limited to:

• LVMH Moet Hennessy Louis Vuitton

• Kering SA

• Compagnie Financiere Richemont SA

• Chanel SA

• Capri Holdings Ltd

• Breitling SA

• The Swatch Group Ltd.

• Burberry Group Plc

• Dolce & Gabbana Srl

• Audemars Piguet Holding SA

• Tapestry Inc.

• Giorgio Armani SpA

• Hermes International SA

• Rolex SA

• Estee Lauder Companies Inc.

• Chopard & Cie S.A

• Hugo Boss AG

• Chalhoub Group

• Tod’s S.p.A.

• Prada SpA

For more information about this report visit https://www.researchandmarkets.com/r/hxzsli

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• Gcc Luxury Goods Market Gulf Cooperation Council Luxury Goods Market Number Of Visitor Arrivals In Dubai By Country

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