The luxury market is moving fast in the Middle East, along with the boom of economic growth. According to “WWD”, the increase in the luxury stores points to the return of tourists – mostly European millionaires – especially to Dubai. On the 30th of July, Hermès, who operates stores in the nearby area, will open the most a store in Beirut, Lebanon."We have three more on the way for the next two years – in Kuwait, United Arab Emirates and Saudi Arabia", says a source od the maison.
* Missoni and Oscar de la Renta also plans on opening their first store there, in the next 18 months. Last week, with the partnership of Chalhoub Group – who until the end of this year will be opening two stores in Dubai and Riad – Christian Louboutin flew to Beirut for the opening of a gigantic flagship store and autograph his shoes. Chloé and Dior also announced they will be stepping foot in Beirut until December. Another one to land in the area last week was Louis Vuitton, that opened first store in Beirut.
* According to the Italian association of luxury goods, with all this heat, the market should grow 6.6% only in 2010.