PARIS: The Saudi Fashion Commission made a groundbreaking announcement at the Hôtel d’Évreux in Paris on Monday, unveiling plans for the inaugural Saudi Fashion Week, scheduled to take place in Riyadh from October 20 to 23 this year.
Burak Cakmak, CEO of the Saudi Fashion Commission, expressed his enthusiasm, stating that Saudi fashion brands have already made their mark on the global stage by participating in renowned fashion weeks in Paris and Milan. Now, they are extending an invitation to the fashion community to showcase their talent in their own homeland during this momentous event.
The announcement coincided with the launch of the “State of Fashion in the Kingdom” report, a comprehensive study offering a detailed analysis of Saudi Arabia’s fashion industry and outlining the vast potential within the sector.
Bright Future of Fashion in Saudi Arabia
The report, creatively presented as a book intricately woven into a dress by Saudi label Atelier Hekayat, reveals promising findings for the future of fashion in the Kingdom. Projections indicate that retail fashion sales in Saudi Arabia are expected to surge by 48 percent to reach $32 billion from 2021 to 2025, demonstrating an annual growth rate of 13 percent.
This anticipated growth is attributed to the Kingdom’s expanding economy and increasing population, with apparel, accessories, footwear, and luxury goods poised to experience significant gains, as highlighted in the report.
Moreover, the report reveals that Saudi Arabia currently imports over $7 billion worth of fashion products annually, presenting a tremendous opportunity for manufacturers, logistics providers, and specialist machinery suppliers over the next decade as the Kingdom aims to enhance its capabilities in the sector.
Cakmak emphasized the significance of the “State of Fashion in the Kingdom of Saudi Arabia” report, affirming the immense potential that exists within the emerging domestic fashion industry. He emphasized that Saudi Arabia is well-positioned to succeed in the fashion sector, as it lays the groundwork for a robust and internationally connected value chain. The ultimate vision is to develop a circular and sustainable industry with a strong regulatory system, enabling local brands to share their unique identity with the world and creating opportunities for global brands and entrepreneurs.
According to the report, the Saudi fashion industry currently employs approximately 230,000 people, accounting for 1.8 percent of the domestic workforce. In 2022, it contributed $12.5 billion, or 1.4 percent, to the Kingdom’s GDP.
