CONDÉ OF ARABIA: Condé Nast International is said to be in early talks to launch Vogue Arabia with ITP, which also operates the titles AD Middle East and Condé Nast Traveller Middle East, according to industry sources. A CNI spokesperson in London declined to comment.
There are currently 21 editions of Vogue internationally, and an Arabian edition should come as no surprise considering the region’s appetite for high-end fashion and luxury. According to a report earlier this year from Luca Solca at Exane BNP Paribas, tourists from the Middle East account for 25 percent of duty-free sales, and “the momentum and resilience of Middle Eastern spend is remarkable given oil prices are sharply lower, year-on-year,” he said.
According to the tax free shopping network Global Blue, spend in London by Middle Eastern shoppers in the pre-Ramadan period was up 43 percent year-on-year in 2014, and the trend was expected to continue this year. Saudi Arabians are the largest international shopper market in London behind the Chinese, followed by the Qataris.