Why the world's luxury brands keep opening in Saudi Arabia
First-time openings, new luxury malls and a market forecast to grow while global luxury slows. Here is what is driving it.
- Missoni, Eleventy, Corneliani and ISAIA have made their first openings in Saudi Arabia.
- Luxury destinations such as Solitaire and VIA Riyadh are being joined by The Avenues Riyadh and Diriyah Square.
- Figures cited by Communicate Online put the GCC personal luxury market at $12.8 billion in 2024, up 6% while global luxury shrank.
- Chalhoub Group projects the GCC personal luxury market will reach $15 billion by 2027.
For years, the Gulf's luxury map started and ended in Dubai. That is changing. Saudi Arabia has become one of the region's busiest places for luxury openings, and the brands arriving now are not only the biggest houses.
Who is opening
Italian labels Missoni, Eleventy, Corneliani and ISAIA have made their first openings in the Kingdom, according to a report by Communicate Online. They join Louis Vuitton, Dior and Celine at Solitaire, one of Riyadh's luxury destinations alongside VIA Riyadh. Lebanese couture house Georges Hobeika reports more fittings in Riyadh and Jeddah.
More space is coming. The Avenues Riyadh and Diriyah Square are expected to add significant luxury retail capacity, and tourism projects at the Red Sea, AlUla and Diriyah are bringing luxury hospitality with them. Four Seasons opened at Amaala's Triple Bay in June, and InterContinental Hotels & Resorts expects its luxury and lifestyle portfolio in Saudi Arabia to reach six brands by 2028, according to Arab News.
The numbers behind the push
| Figure | What it says | Source |
|---|---|---|
| $12.8 billion | GCC personal luxury market in 2024, up 6% while the global market contracted by an estimated 2% | As cited by Communicate Online |
| $15 billion | Projected GCC personal luxury market by 2027 | Chalhoub Group |
| 2–4% | Forecast global luxury growth | Kearney, 2026 Global Luxury Industry Outlook |
| 43% | Fashion's share of the regional personal luxury market | As cited by Communicate Online |
| 13% | Online share of GCC personal luxury sales in 2024 | As cited by Communicate Online |
| $36.8 billion | Saudi fashion market in 2025 (all fashion, not only luxury) | Saudi Fashion Commission, as cited |
Kearney also describes Saudi Arabia as the largest and fastest-growing jewellery market in the GCC, and the largest contributor to the region's fragrance growth.
Why now
A home market that used to shop abroad. Saudi customers have long bought luxury in Dubai, London and Paris. New malls, more brands and a growing events calendar mean more of that spending can stay at home.
Tourism targets. Saudi Arabia is aiming for 150 million visits a year by 2030. Luxury hotels, resorts and destination retail are built for those visitors as much as for residents.
Growth that is hard to find elsewhere. With global luxury growth forecast in low single digits, a market still growing faster than the global average gets attention from every brand's expansion team.
What it means for brands
Getting in is no longer the hard part. Standing out is. With more houses opening in the same few destinations, a brand needs a clear reason to be chosen: a local edit, Arabic-first service, events built around the Saudi calendar, or products made for the region rather than simply shipped to it.
Pricing matters as much as presence. Shoppers who know prices in Dubai, Paris and online will compare. Brands that keep their price consistent across markets, and avoid regional discounting, protect the reason people pay full price in the first place. We look at that in our guide to luxury pricing in the Gulf.