- In September 2024, Vogue Business, in collaboration with the Saudi Fashion Commission, hosted an event during London Fashion Week to spotlight Saudi Arabia's burgeoning fashion industry and its investment potential. The event featured roundtable discussions with key figures from Saudi governmental bodies, including the Ministry of Investment and the Cultural Development Fund, alongside international brand executives. Topics covered included governmental incentives for foreign brands, the 'Saudi 100 Brands' initiative promoting local designers, and the release of the 'State of Fashion Sector in Saudi Arabia 2024' report
- In September 2024, Transparency Market Research projected that the Middle East second-hand luxury goods market is expected to reach USD 3.5 billion by 2035, growing at a CAGR of 13.3%. This growth is driven by increasing affluence, a desire for vintage and heritage luxury items, and a growing awareness of environmental sustainability. The market is particularly strong in the UAE, which leads due to its affluent population and established luxury retail infrastructure. jewelry, including bracelets, earrings, necklaces, rings, and watches, leads the product segments, while the men's segment dominates in terms of end-use, driven by demand for designer clothing and accessories
