Cairo: The value of the Saudi fashion market amounted to $30 billion last year as the kingdom’s industry is experiencing unprecedented growth amid massive changes.
The market value is projected to soar to $42 billion by the year 2028, the Saudi Fashion Commission said in an annual report.
The Saudi fashion industry’s contribution to the gross domestic product (GDP) has grown to 2.5% against 1.4% last year, according to the government agency.
Women, meanwhile, made up 52% of the overall manpower in the fashion sector in the kingdom last year, it added.
The commission unveiled its annual report during an investment tour that kicked off last week in London.
The report offers an insight into the vibrant Saudi fashion scene, and sheds light on trends and opportunities for growth and investment.
Moreover, the report provides industry data on the fashion landscape in Saudi Arabia highlighting fashion, luxury goods, jewellery, cosmetics and business.
In recent years, Saudi Arabia has endeavoured to diversify its oil-reliant economy as part of an ambitious development scheme, officially known as Saudi Vision 2030.
Last October, Riyadh had its first fashion week where celebrated Saudi designers displayed their creative couture.
Launched by the Fashion Commission, the event featured a set of designs by famous Saudi designer Mohammed Ashi, who staged his first show in his hometown.
Other designers included Adnan Akhbar, dubbed Saudi Arabia’s first designer and Saint Laurent of the Middle East.
Established in 2020, the Saudi Fashion Commission aims to develop the sector, driving its advancement and supporting practitioners in the field.
The commission has since launched dozens of training courses, workshops and seminars to advance prospects of the industry.
