| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 15.02 Billion |
| Market Size (2030) | USD 24.36 Billion |
| CAGR (2025 - 2030) | 10.15 % |
| Market Concentration | Low |
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*Disclaimer: Major Players sorted in no particular order |
GCC Luxury Goods Market Analysis
The GCC Luxury Goods Market size is estimated at USD 15.02 billion in 2025, and is expected to reach USD 24.36 billion by 2030, at a CAGR of 10.15% during the forecast period (2025-2030).
In the GCC, consumer preferences for personal luxury goods are heavily influenced by material quality and design. These branded items are synonymous with premium materials, exceptional craftsmanship, and high-value aesthetics. Additionally, heightened tourism and the substantial disposable incomes in Middle Eastern nations, particularly the UAE and Saudi Arabia, are propelling the demand for these luxury items. The market is poised for long-term growth, driven by a burgeoning millennial demographic and the entry of international market players. Major global brands, such as LMVH, Chanel, Prada, and Rolex, are capturing customer attention through product innovations showcased on international platforms. For example, in April 2022, the Alshaya franchise group's fashion-leisure brand, Tribe of 6, debuted in Kuwait, Saudi Arabia, and the UAE, offering unisex styles across a diverse size range. The establishment of upscale malls in the region provides these brands with ample opportunities for operational expansion. Furthermore, the rise of social media and online shopping trends has significantly boosted the luxury footwear segment in the region, granting shoppers seamless access to luxury brands online. Brands are not only launching new campaigns but are also collaborating with celebrities to introduce exclusive product lines, spanning footwear, apparel, and accessories. The growth of e-commerce has empowered consumers with easy access to product information and pricing, further fueling the luxury goods market growth. Notably, the young affluent demographic in the GCC exhibits a heightened awareness and discernment in their luxury goods choices.
GCC Luxury Goods Market Trends
Sales of Clothing and Apparel Drive the Market
Several key factors drive the demand for luxury clothing and apparel in GCC countries, including a growing fashion consciousness, the expansion of luxury brands, and a surge in tourism. Consumers in GCC nations, especially in Saudi Arabia, the UAE, and Qatar, possess substantial disposable incomes, leading to increased spending on luxury goods. For example, the World Bank reported a decline in the youth unemployment rate in the UAE, from 2.87% in 2022 to 2.71% in 2023. This rising disposable income, combined with proactive initiatives from brands to introduce regional offerings, bolsters the market growth. Furthermore, events like Dubai Fashion Week generate significant buzz, influencing consumer preferences for luxury apparel. These events, featuring renowned designers, attract premium customers globally, further fueling market expansion. For instance, in September 2024, Dubai Fashion Week (DFW) unveiled its Spring/Summer 2025 edition, spotlighting both established and emerging global designers. Notably, brands like Keepa showcased their Spring/Summer 2025 collection, while the illustrious Italian fashion house Roberto Cavalli debuted their Spring/Summer 2025 apparel. Such high-profile events, alongside the region's opulent presentations, are poised to draw an even wider audience to the luxury market.
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The United Arab Emirates Accounts for the Largest Market Share
Luxury is deeply ingrained in the UAE's culture, with consumers consistently drawn to products that resonate with their affluent lifestyle. This luxury inclination spans a wide spectrum, from everyday clothing to occasional accessories. Bolstered by rising disposable incomes, both young and adult consumers are increasingly indulging in luxury purchases. Notably, luxury watches, jewelry, and accessories have emerged as top choices among consumers. The UAE, a global tourist hotspot, draws millions each year. According to data from the Dubai Statistics Center, WTO, and other sources, the UAE attracted around 22 million international tourists in 2022. Many of these tourists, already connoisseurs of luxury, actively seek out high-end items during their visit. Often, they buy these luxury goods as souvenirs or gifts, fueling the market expansion. This demand is further amplified by diverse offerings of premium products at competitive prices. The surging trend of high-end gifting has significantly heightened the demand for luxury items, especially accessories and footwear. Items such as caps, hats, wallets, ties, and scarves have gained popularity, owing to their gifting appeal. This shift underscores a broader inclination towards premium and exclusive products that symbolize sophistication and status. The market is bustling with numerous players, each offering a diverse array of high-end goods. Key strategies in the market include the establishment of new retail outlets and the introduction of products crafted from unique materials. A prime example is Cartier, a leading brand in the watch segment, which unveiled its new 'Cartier Libre Polymorph' collection in March 2024, featuring luxury watches and jewelry, further solidifying its presence in the UAE.
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GCC Luxury Goods Industry Overview
The GCC luxury goods market boasts competition, featuring both global and domestic players. Leading the market are industry giants like Compagnie Financière Richemont SA, Kering Group, Chanel Limited, LVMH Moët Hennessy Louis Vuitton SE, and Rolex SA. These key players are pursuing strategies centered on expansions and product innovations. To gain a competitive edge and broaden their market presence, companies are vying on diverse fronts, ranging from product offerings and quality to sustainable packaging, marketing, and brand omnichannel activities. Notably, the rise of e-commerce has significantly bolstered the overall growth.
GCC Luxury Goods Market Leaders
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Kering Group
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LVMH Moët Hennessy Louis Vuitton
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Compagnie Financière Richemont SA
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Rolex SA
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Chanel SA
- *Disclaimer: Major Players sorted in no particular order
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GCC Luxury Goods Market News
- July 2024: Versace unveiled its Fall-Winter collection, showcasing an array of clothing, luxurious watches, jewelry, and more.
- February 2024: Prada Beauty debuted its Skin and Color range at Dubai Duty-Free, featuring products like the Prada Balm and two variants of their Weightless Lipcolor.
- January 2024: Kelvin Haus introduced its inaugural sustainable brand to the Dubai market, debuting with "The Street Tee – Dubai Edition."
GCC Luxury Goods Industry Segmentation
Luxury goods are referred to as premium/high-end products, which are classified into clothing, watches, footwear, cosmetics, and other accessories like sunglasses.
The GCC luxury goods market is segmented by type, gender, distribution channel, and geography. Based on type, the market is segmented into clothing and apparel, footwear, bags, jewelry, watches, and other accessories. By gender, the market is segmented into male and female. The market is segmented by the distribution channel into single-brand stores, multi-brand stores, online retail stores, and other distribution channels. The market is segmented by geography into Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, Oman, and Bahrain. The market sizing was done in value terms (USD) for all the above-mentioned segments.
| Type | Clothing and Apparel |
| Footwear | |
| Bags | |
| Jewellery | |
| Watches | |
| Other Accessories | |
| Gender | Male |
| Female | |
| Distribution Channel | Single branded stores |
| Multi-branded stores | |
| Online Stores | |
| Other Distribution Channels | |
| Geography | Saudi Arabia |
| United Arab Emirates | |
| Qatar | |
| Kuwait | |
| Oman | |
| Bahrain |
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GCC Personal Luxury Goods Market Research FAQs
How big is the GCC Luxury Goods Market?
The GCC Luxury Goods Market size is expected to reach USD 15.02 billion in 2025 and grow at a CAGR of 10.15% to reach USD 24.36 billion by 2030.
What is the current GCC Luxury Goods Market size?
In 2025, the GCC Luxury Goods Market size is expected to reach USD 15.02 billion.
Who are the key players in GCC Luxury Goods Market?
Kering Group, LVMH Moët Hennessy Louis Vuitton, Compagnie Financière Richemont SA, Rolex SA and Chanel SA are the major companies operating in the GCC Luxury Goods Market.
What years does this GCC Luxury Goods Market cover, and what was the market size in 2024?
In 2024, the GCC Luxury Goods Market size was estimated at USD 13.50 billion. The report covers the GCC Luxury Goods Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the GCC Luxury Goods Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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GCC Personal Luxury Goods Industry Report
Statistics for the 2025 GCC Luxury Goods market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. GCC Luxury Goods analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
