High-end UK labels set to arrive in the Middle East
A new initiative aims to bring British luxury goods to the Middle East Arabian Business magazine reported Saturday. The Anglo Arab Alliance (AAA), a business association with offices in the U.K. and Saudi Arabia, says it has started talks with U.K. brands and plans to provide “easy and efficient access” to the Middle East market for high-end labels.
The news comes following a report by Bain & Company, a business-consulting firm, predicting that the Middle East’s luxury goods market is set to grow by 15 percent this year.
By buying directly from the companies, AAA said it would help “cutting out any red tape, cultural differences and legal issues” in a region that it describes as “notoriously difficult for luxury brands to penetrate.”
Andrew Lloyd, CEO for AAA, told Arabian Business that “AAA has worked hard to develop strong relations and strategies to help high-end British businesses gain a foothold in the thriving Middle Eastern market.”
The association said in a statement published in Arabian Business: “The decision to open trade solely for British luxury brands is based on AAA’s ethos to promote trade with the Middle East, support and develop home-grown businesses and establish itself as a leading authority, providing high-end British brands with unparalleled service and knowledge of this complex market.”
AAA says it already has the backing of the Saudi Arabia General Investment Authority, The Royal Warrant Holder’s Association in London and U.K. Trade & Investment.
- Tourism is the real target of the Tunisia attacks: industry set to suffer
- FIFA scandal probe: No deaths in 2022 World Cup construction, Qatar says
- The UAE harnesses the power of celebrity endorsements
- Gazans reach beyond Israeli blockade through start-up
- France is playing a risky dating game in the Gulf: experts
- Bring luxury coffee to your office! Starbucks teams up with MENA businesses to supply coffee to employees
- University of Dubai partners with British Council to host symposium for school counsellors from MENA region
- Emaar expands into Jordan with luxury master-planned development
- Oasis Leasing, UK’s Blenheim Capital sign JV agreement to set up al Waha Financial Services