The luxury re-commerce market in the Gulf region is expected to hit a value as high as $780 million by 2026, up nearly 60 percent compared to 2022, according to analysis by Dubai-based luxury retail giant Chalhoub Group.
However, the sector remains nascent and its pace of growth is slower than in other markets, like the US, where there’s less cultural stigma attached to shopping secondhand, sustainability may rank more highly among consumer concerns and average spending power is less, the analysis found.
The report, published Wednesday, comes as Dubai is playing host to the UN’s annual COP climate summit.
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Fashion in the Middle East: Optimism and Transformation
BoF Insight’s guide to why the Middle East has become the region to watch and what brands can do to tap into the new opportunities that this $89 billion market offers.
