Effective from 1 January 2023, the United Arab Emirates’ policy change to lower the threshold value for Cross Border Trade (CBT) and shipments imported into the market has created opportunities for international players to expand their regional footprint and reduce their business costs. This change in policy carries the most weight within personal luxury.
Personal luxury is set to see a CAGR of 4% in current value terms (2% constant value CAGR) over the forecast period to reach AED28.6 billion.
Luxury timepieces is expected to become the leading category by the end of the forecast period, following a CAGR of 7% in current value terms (5% 2023 constant value terms) to reach AED8.3 billion in 2028.
Luxury wearables electronics is projected to be the most dynamic category over the forecast period, with a 14% retail current value CAGR (11% 2023 constant value CAGR). Demand is expected to continue to be sustained through innovation.
The luxury resale market is growing in the United Arab Emirates, because of growing sustainability and product life cycle concerns. In this vein, Reflaunt has partnered with Level Shoes, part of Chalhoub Group.
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Understand the latest market trends and future growth opportunities for the Personal Luxury industry in United Arab Emirates with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This is an aggregation of Designer Clothing and Footwear (Ready-to-Wear), Luxury Eyewear, Luxury Jewellery, Luxury Timepieces, Luxury Leather Goods, Luxury Writing Instruments and Stationery, Luxury Portable Consumer Electronics and Super Premium Beauty and Personal Care.See All of Our Definitions
This report originates from Passport, our Personal Luxury research and analysis database.
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