The Saudi Fashion Commission has unveiled its 2024 State of Fashion Report, showing impressive growth in the Kingdom’s fashion industry.
Revealed during an investment event in London, the report was part of the Fashion Futures initiative and presented in a unique briefcase designed by Saudi brand 1886.
This report provides an in-depth look at Saudi Arabia’s fashion landscape, covering fashion, luxury goods, jewelry, cosmetics, and business operations. It also offers expert insights on current trends and investment opportunities.
Key highlights include the fashion sector’s contribution to Saudi Arabia’s GDP, which grew to 2.5%, up from 1.4% the previous year. The industry now employs 320,000 people, a rise of 90,000 jobs since 2021-2022.
Notably, women make up 52% of the workforce, marking progress in gender equality within the sector. The market value of Saudi fashion reached $30 billion in 2023 and is projected to grow to $42 billion by 2028.
Fashion Commission CEO Burak Cakmak emphasized the value of data in tracking growth, announcing a new data center to publish future State of Fashion Reports, highlighting opportunities throughout the industry.
