Alarm bells ring for luxury sector in the UAE | GulfNews.com:
"Luxury brand retailers in the UAE have had the toughest four months in recent history, with some saying that sales are even lower than what they were in 2009. According to some estimates, the year-to-date percentage sales decline would be in the “mid-teens” while that for the overall retail sector would be about 5 per cent from 2015 numbers.
“Things are difficult because luxury retailers now have more mono-brand outlets open than was the case in 2009-10,” said an industry source. “And not just in Dubai, with some of the recent store openings being in Abu Dhabi. With more stores open and demand weak, average sales per outlet are lower than in 2009.
“Keep in mind that The Dubai Mall had just opened and the high-end boutique malls in Abu Dhabi were still some years away from their launch. High-end retail has changed dramatically between 2009 and 2016, especially in the sheer number of mono-brand flagship outlets that have opened. No brand would think of nothing less than a stand-alone store at the destination malls in Dubai and Abu Dhabi.”"
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