Many Middle East states offer an unexpected and seemingly insatiable market for luxury goods.
With the war in Iraq, unstable politics in Iran and the ongoing unrest in the occupied territories bordering Israel, luxury retailing may not be the first thing that comes to mind when thinking of the Middle East. However, for the six Persian Gulf states that comprise the Gulf Cooperation Council — Saudi Arabia, Kuwait, United Arab Emirates, Bahrain, Oman and Qatar — huge oil riches, relative sociopolitical stability and recent drives to modernize and diversify their economies have led to growing pools of wealthy consumers and a booming demand for status brands.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"