UAE ‘remains a hotspot for luxury retail’
Abu Dhabi, July 22, 2010
The UAE remains a hotspot for luxury retail trade, with 25 per cent of the Emirates’ residents viewing luxury items as part of their lifestyle, said a recent study.
The number of designer shops, high-end hotels and posh shopping malls is also on a rise in the UAE, especially in Abu Dhabi, thereby making the capital city one among the top locations for upmarket goods, said the survey conducted by research firm Synovate.
In line with this, an upcoming event in Abu Dhabi will target local high net worth individuals (HNWIs) by offering luxury sector exhibitors a platform to display their finest goods, a statement said.
Big Boys Toys, a luxury lifestyle event, will be held at the Abu Dhabi National Exhibition Centre (Adnec) from February 2 to 5, 2011.
The 2011 edition of Big Boys Toys, while including the seven original zones – drive, ride, off road, marine, aviation, digital and lifestyle – will also have three new ones: Fitness, Fashion and Adventure.
“With a wave of new malls and hot fashion brands set to hit Abu Dhabi, the capital is making a big splash into the luxury retail market, which will continue to fuel its tourism and retail revenues,” said Biju Jayaraaj, CEO, Artaaj, organisers of the event.
“As the city carries on with its fast ascent towards becoming one of the largest luxury retail capitals of the word, ‘Big Boys Toys’ will bring the world’s top luxury brands to the Emirates, in line with our aims to satiate the desire of local high net worth consumers for only the best products and services,” he added.
Big Boys Toys is anticipating an affluent target audience of over 60,000 visitors during its four-day run, the statement said. Select exhibitors across 46 luxury brand categories will exhibit, demonstrate and conduct thrilling activities within the event venue.
"With indicators underlining the optimism of GCC-based HNWIs on their own local economies as well as on the global market, luxury goods are poised for growth, and ‘Big Boys Toys’ is a perfect opportunity for luxury brands to tap into the ever-present affluent market in the region, especially in the UAE,” Jayaraaj said. – TradeArabia News Service