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[USPRwire, Sat Apr 25 2015] The United Arab Emirates benefited from rising economic confidence at the end of the review period, with disposable income levels rising. The country is also seeing a surge in inbound, outbound and domestic tourism flows, with many tourists notably visiting the country as a luxury shopping destination. These trends combined to support impressive sales growth in bags and luggage at the end of the review period. Consumers are spending more on luggage as they travel more frequently, while also upgrading luggage as disposable income levels rise. A growing interest in luxury brands is meanwhile fuelling sales growth for bags and luggage among both domestic consumers and tourists. As a result of these trends, bags and luggage saw the strongest current value growth across overall personal accessories in 2014 over the previous year.
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Chalhoub was the leading player in bags and luggage throughout the review period and accounted for a steady 14% value share in 2013. This lead is due to the company representing LVMH's brand Louis Vuitton in the United Arab Emirates. Louis Vuitton has a well-established and iconic image that appeals to affluent domestic consumers and tourists, with many viewing the brands bags and luggage as attractive status symbols. The brand also benefits from attractive mono-brand outlets in popular shopping destinations such as the Dubai Mall. Chalhoub also benefits from employing multilingual sales assistants in order to cater to strong tourist demand, with notably strong growth in demand from Chinese tourists towards the end of the review period.
A focus on luxury fashion brands in the United Arab Emirates is expected to intensify further in the forecast period. The country will benefit from the opening of the Dubai Design District (d3) at the start of the forecast period, with this being a mixed retail/office/residential complex with a strong focus on fashion, design and luxury brands. This launch is expected to further increase the presence of luxury retail outlets in the United Arab Emirates in the forecast period.
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