Fashion weeks not only offer clothes and accessories, but also celebrate the cultural heritage of the region, promote local talent, and contribute to the economic development of the fashion industry.
MENA's fashion market is projected to record a compound annual growth rate of approximately 7% between 2023 and 2027, with Saudi Arabia and the U.A.E. accounting together about half of the $89 billion market value last year, according to Euromonitor International data. This is being bolstered by big spenders. In the U.A.E. and Saudi Arabia, a BoF Insights survey found that as much as 50% of high earners spend more than $1,000 on average a month on fashion.
Esta historia es de la edición July 2024 de Forbes Middle East - English.
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Esta historia es de la edición July 2024 de Forbes Middle East - English.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
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CONSCIOUS INVESTING
VentureSouq's cofounders and general partners, Suneel Gokhale, Sonia Gokhale, Tammer Qaddumi, and Sonia Weymuller, are actively reshaping the investment landscape. With $250 million in assets under management, the thematic fund manager is forging a distinct path, with a focus on fintech and climate tech.
VENTURING BEYOND CAPITAL
In just seven years, Shane Shin and Mahmoud Adi, Founding Partners of Shoroog Partners, have turned their startup into one of the Middle East’s biggest startup investors, with 500 million in assets under management. With ambitions far beyond venture capital, they’re now expanding further into credit markets and looking at where they can be pioneers.
ROCK STAR
WHAT IF THE REVOLUTIONARY TECHNIQUES DEVELOPED TO FRACK ROCKS FOR OIL COULD BE MODIFIED TO UNLOCK LIMITLESS CLEAN ENERGY FROM THE HEAT OF THE EARTH’S CRUST?
Breaking New Territory
Moroccan-Canadian singer and 30 Under 30 alumna Faouzia is having her biggest year yet and enjoying newfound fame in China. As her stardom rises, she’s now exploring new projects and possibilities.
5 Biggest MENA IPOs of 2024
This year has been pivotal for MENA, marked by a series of high-profile IPOs that drew interest from local and international investors. Here’s a look at the five biggest IPOs that defined 2024.
TOP VENTURE CAPITALISTS
MENA has emerged as a vibrant hub for innovation and entrepreneurship, fostering a dynamic landscape for startups.
Top Funding Rounds in MENA 2024
This year has seen some of MENA’s largest-ever funding rounds. Here’s a look at five standout deals. Only startups that were founded less than 10 years ago and had disclosed their funding rounds as of November 27, 2024, were considered.
Key Insights From MENA's Funding Landscape
MENA saw a mixed performance in the first nine months of 2024.
A Look Ahead: Travel Trends Shaping 2025
What will drive wanderlust in 2025? Here’s a look at the key travel trends set to dominate the year.
Codebreakers
Backed by 200 million in funding, 28-year-old SCOTT WU and his team of competitive coders at Cognition are building an Al tool that can program entirely on its own, potentially disintegrating the whole industry. Is its 2 billion valuation the result of a true breakthrough, or just more Al hype?
