The Saudi Fashion Commission recently announced that Saudi Arabia will be hosting its own official fashion week, known as Saudi Fashion Week, from October 20th to 23rd. The event was unveiled during a gathering at Paris's Hôtel d'Évreux. Burak Cakmak, the CEO of the Saudi Fashion Commission, expressed excitement about the event, stating that Saudi fashion brands have already made a mark on the global stage by participating in fashion weeks in Paris and Milan. This event will provide an opportunity for the fashion community to experience Saudi Arabia's fashion scene firsthand.
The announcement coincided with the launch of the "State of Fashion in the Kingdom" report, a comprehensive study analyzing Saudi Arabia's fashion industry and its potential. The report was presented in the form of a book integrated into a dress by Atelier Hekayat, a Saudi label. It highlighted several significant findings, including a projected 48 percent surge in retail fashion sales from 2021 to 2025, reaching $32 billion. The country's improving economy, rising population, and the potential for major development in the sale of garments, accessories, footwear, and luxury items are all projected to contribute to this expansion.
The report also emphasized the import dependency of Saudi Arabia, which currently imports over $7 billion worth of fashion products annually. This presents an opportunity for manufacturers, logistics providers, and machinery suppliers to cater to the country's growing demand. Cakmak emphasized the Saudi fashion industry's immense potential and outlined the Commission's goal of establishing a circular economy with a strong regulatory framework. The goal is to showcase local brands to the world and create opportunities for both 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, equivalent to 1.4 percent of the country's GDP. These figures highlight the industry's significance and potential impact on the Saudi economy.
The announcement of Saudi Fashion Week and the launch of the "State of Fashion in the Kingdom" report signify Saudi Arabia's determination to establish itself as a prominent player in the global fashion industry. With a growing market and ambitious goals, the country is focused on building a sustainable and internationally recognized fashion sector that will benefit both local and global stakeholders.
