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FinancialNews


  • 10-05-22

    Qatar’s luxury market expands as FIFA WC 2022 approaches

    (MENAFN) As shown by a report from Mordor Intelligence Qatar’s luxury goods market, which has been estimated at USD1.84bn and estimated to grow at a healthy CAGR of 2.55 percent in the estimate period 2019-2024, is viewed as the world’s highest expanding luxury market.

    In line with the report Qatar’s citizens are also viewed as the largest purchasers of things in the Middle East, adding, which repeated Qatar’s majority stake in the Italian fashion trademark Valentino in addition to the landmark department stores Harrods plus Printemps in London as well as Paris, along with rising its own luxury brand Qela.

    With an amount of malls being upgraded and opened in the buildup to the FIFA World Cup 2022, such as the launch of the Palace Vendome lately, the nation’s luxury industry carries a huge prospective to expand more.

    On top of investments made by the Qatari independent wealth fund Qatar Investment Authority (QIA) in international luxury trademarks, separate Qataris and additional Qatar-based businesspersons are also financing in luxury markets both regionally and globally.

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